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The Molecular Diagnostics Point of Care Market Size is valued at USD 2.95 Billion in 2023 and is predicted to reach USD 6.42 Billion by the year 2031 at a 10.38 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
Medical professionals use tests known as molecular diagnostics point of care to identify and diagnose infectious disorders. Hematology, fertility, infectious diseases, pregnancy, urinalysis testing kits, and glucose and cardiometabolic monitoring equipment are all included. In addition to monitoring hemoglobin and fecal occult blood, molecular diagnostics point of care is frequently used to identify infectious agents, gastrointestinal diseases, and minimal residual disease and to assess a patient's capacity to metabolize a given medicine or class of drugs. These tests provide quicker answers, lessen difficulties brought on by improper care, and enhance infection prevention techniques.
The global spread of infectious diseases is expanding, which is good news for the market. Another element driving expansion is the increasing need for PCR test kits to properly manage and control the spread of COVID-19. Additionally, the development of user-friendly, low-cost, and highly sensitive molecular diagnostic tests using downsizing, nanotechnology, and microfluidics is accelerating the market's expansion.
Moreover, numerous government initiatives to enhance molecular diagnostic capabilities and healthcare infrastructure favourably affect market growth. In addition, the market is anticipated to grow due to recent breakthroughs in cloud-connected POC diagnostic technologies, rapid progress in deoxyribonucleic acid (DNA) sequencing, and growing public awareness of advanced therapeutic and diagnostic testing.
The molecular diagnostics point-of-care market is segmented on test location, technology, application and end-use. Based on test location, the market is segmented into over-the-counter (OTC) and PoC. Based on the technology, the market is categorized into PCR-based, genetic sequencing-based, hybridization-based and microarray-based. Based on the application, the market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology and others. Based on end-use, the market is categorized into decentralized labs, hospitals, homecare and assisted living healthcare facilities and others.
The over-the-counter (OTC) category dominated the market in 2021. Compared to POC testing, OTC tests are more adaptable and portable when used in homes and supportive living institutions. In most instances, patients and unqualified personnel make up the majority of OTC users. Additionally, a few of these test instruments are exempt from CLIA, allowing users to utilize them in settings other than laboratories. OTC tests are anticipated to generate more money during the forecasted period due to their simplicity, usefulness, and higher acceptance rate.
The PCR-based category dominated the market in 2021. The commercialization of PoC tests, which provide quick real-time PCR analysis with excellent precision for infectious illnesses like H1N1 and influenza, is driving the market. NGS-based molecular testing close to the patient is anticipated to increase significantly during the projected period due to numerous industry breakthroughs. This part is expected to be successful because of cutting-edge technological advancements that enable accurate genetic testing and quick diagnosis at the treatment site. Quick DNA analysis is anticipated to have significant expansion in the following years due to key industry competitors' ongoing development and R&D.
The North American molecular diagnostics point-of-care market is expected to register the highest market share in revenue in the near future. The rising incidence of infectious diseases, increasing CLIA product approvals, and expanding legislative measures are driving this market's expansion in North America. The ongoing efforts of major market players to strengthen their position are a crucial contributing factor. Several clinical trials will contribute to market growth throughout the projection period due to the diversity and precision of contemporary molecular tests. In addition, Asia Pacific is projected to grow rapidly in the global molecular diagnostics point-of-care market. The Asia Pacific molecular diagnostics point-of-care market is driven by factors including the aging population's increased prevalence of chronic diseases, a lack of highly developed central laboratory testing services, the growth of major market players in this region, and the potential cost-effectiveness of molecular diagnostics point-of-care.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 2.95 Billion |
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Revenue Forecast In 2031 |
USD 6.42 Billion |
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Growth Rate CAGR |
CAGR of 10.38% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Test Location, Technology, Application, End-Use |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Abbott Laboratories, Bayer Healthcare, Roche Diagnostics, Bio-Rad Laboratories, Danaher Corporation, BioMerieux, Dako, Abaxis Inc., OraSure Technologies Inc. and Nipro Diagnostics. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Molecular Diagnostics Point of Care Market Snapshot
Chapter 4. Global Molecular Diagnostics Point of Care Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Test Location Estimates & Trend Analysis
5.1. by Test Location & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Test Location:
5.2.1. Over-the-Counter (OTC)
5.2.2. PoC
Chapter 6. Market Segmentation 2: by Technology Estimates & Trend Analysis
6.1. by Technology & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Technology:
6.2.1. PCR-based
6.2.2. Genetic Sequencing-based
6.2.3. Hybridization-based
6.2.4. Microarray-based
Chapter 7. Market Segmentation 3: by Application Estimates & Trend Analysis
7.1. by Application & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
7.2.1. Infectious Diseases
7.2.2. Oncology
7.2.3. Hematology
7.2.4. Prenatal Testing
7.2.5. Endocrinology
7.2.6. Others
Chapter 8. Market Segmentation 4: by End-use Estimates & Trend Analysis
8.1. by End-use & Market Share, 2019 & 2031
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-use:
8.2.1. Decentralized Labs
8.2.2. Hospitals
8.2.3. Homecare
8.2.4. Assisted Living Healthcare Facilities
8.2.5. Others
Chapter 9. Molecular Diagnostics Point of Care Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. North America
9.1.1. North America Molecular Diagnostics Point of Care Market Revenue (US$ Million) Estimates and Forecasts by Test Location, 2024-2031
9.1.2. North America Molecular Diagnostics Point of Care Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2024-2031
9.1.3. North America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2024-2031
9.1.4. North America Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2024-2031
9.1.5. North America Molecular Diagnostics Point of Care Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
9.2. Europe
9.2.1. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2024-2031
9.2.2. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2024-2031
9.2.3. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2024-2031
9.2.4. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2024-2031
9.2.5. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2024-2031
9.3. Asia Pacific
9.3.1. Asia Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2024-2031
9.3.2. Asia Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2024-2031
9.3.3. Asia-Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2024-2031
9.3.4. Asia-Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2024-2031
9.3.5. Asia Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2024-2031
9.4. Latin America
9.4.1. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2024-2031
9.4.2. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2024-2031
9.4.3. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2024-2031
9.4.4. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2024-2031
9.4.5. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2024-2031
9.5. Middle East & Africa
9.5.1. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2024-2031
9.5.2. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2024-2031
9.5.3. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2024-2031
9.5.4. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2024-2031
9.5.5. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2024-2031
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. Abbott Laboratories
10.2.2. Bayer Healthcare
10.2.3. Roche Diagnostics
10.2.4. Bio-Rad Laboratories
10.2.5. Danaher Corporation
10.2.6. BioMerieux
10.2.7. Dako
10.2.8. Abaxis Inc.
10.2.9. OraSure Technologies Inc.
10.2.10. Nipro Diagnostics
10.2.11. Other Prominent Players
By Test Location-
By Technology-
By Application-
By End-Use
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
