Point of Care Molecular Diagnostics Market exhibiting CAGR of 12% by 2032, due to increasing prevalence of infectious diseases and cancer | insightSLICE
According to estimates, the global market for Point of Care Molecular Diagnostics will be worth US$ 2.1 billion in 2021 and is projected to increase at a CAGR of 12% through 2032.
Point-of-care (POC) diagnostics provide quick, pragmatist statistics for physician care at the time and location of a medical appointment.
POC Molecular testing gives doctors the ability to improve the standard of care by combining fast analysis with treatment decisions made by the patient during the initial session rather than waiting hours or days for the test results.
This would enable early therapeutic recommendations without delaying final results. More aspects that are projected to improve POC molecular diagnostics include improving knowledge of molecular pathways in both common and unusual diseases and the development of DNA sequencing and analysis.
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The tools used for point-of-care molecular diagnostics include convenient, small, and self-contained diagnostic methods that can carry out various medical testing.
They are used at the patient’s location to quickly diagnose ailments. These tools also provide important and useful information on patient care; they have a quick turnaround time, and they enable the selection of the best course of treatment for the individual by seeing how they respond to ongoing therapy.
POC molecular diagnostics have a wide range of uses in the detection of infectious illnesses, pharmacogenetics, and genetic testing.
The key players of the Global Point of Care Molecular Diagnostics Market are:
Key players involved in the Global Point of Care Molecular Diagnostics market are Abbott Laboratories, Dickinson and Company, Danaher Corporation, BioMerieux, Cepheid, Inc., Bio-Rad Laboratories, Inc., Becton, Bayer Healthcare, F. Hoffmann-La Roche AG, Johnson, and Johnson, etc.
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Global Point of Care Molecular Diagnostics Market Key Segments:
- Infectious Diseases
- Prenatal Testing
- Genetic Sequencing-based
By Test Location:
- Over the Counter
By End Use:
- Decentralized Labs
- Assisted Living Healthcare Facilities
- Other healthcare facilities
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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Throughout the assessment period, the infectious diseases-specific segment will continue to hold the majority of the market share:
The application, technology, test site, end-use, and region segments of the worldwide point-of-care molecular diagnostics market are used to define the market. Viral Infections, Oncology, Haematology, Pregnancy Testing, Endocrinology, and some other uses make up the application segment.
The market is divided into PCR-based, Genetic Sequencing-based, Hybridization-based, and Microarray-based segments based on technology. The POC molecular diagnostic industry is split into Over Counter and PoC based on the test site.
The market is divided into Decentralized Labs, Hospitals, Homecare, Assisted Living Healthcare Facilities, and Other Uses based on end-use segments.
The most significant advancements in terms of applications have been made in the fields of oncology POC molecular testing and infectious disorders. In 2018, the division that dealt with infectious diseases had the largest income stake.
Fast molecular diagnostic tests present and assist proper antimicrobial therapy, expedite disease management, improve the distribution of healthcare lab resources, and reduce fatalities and costs. These are some of the factors that contribute to the income share of infectious diseases for these tests.
Regional distribution of sales and growth in Global POC molecular diagnostics market:
The POC molecular diagnostics market size in Europe is anticipated to expand at an estimated 8.4% annual pace throughout the assessment period. The region’s increasing prevalence of infectious diseases will increase the demand for sophisticated POC molecular diagnostic studies.
The demand for POC molecular experiments is further increased by the healthcare systems’ emphasis on preventative measures to lower disease and death rates in Europe.
In 2019, the Asia Pacific POC molecular diagnostics market accounted for a significant portion of market revenue. POC molecular diagnostics will be in demand as there will be an increase in the number of patients with infectious diseases as a result of unhygienic conditions.
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