Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Point-of-Care Molecular Diagnostics Market Size, Share & Trends Analysis Report by Application (Infectious Diseases, Oncology, Prenatal Testing), Technology, Test Location, End-use, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global point-of-care molecular diagnostics market size is expected to reach USD 10.12 billion by 2030, registering a CAGR of 2.5% from 2024 to 2030. The rising prevalence of infectious diseases such as COVID-19, HIV, HBC, HCV, along with growing geriatric population is predicted to fuel the need for POC molecular diagnostics tests. Furthermore, rapid and accurate results offered by these POC tests act as a major factor for such growing acceptance across geographies. Moreover, rising emphasis for home care and assisted care facilities across emerging economies is also predicted boost POC molecular diagnostics market growth during the forecast years. 
Global geriatric population is increasing, which is expected to boost the demand for POC molecular diagnostics. Estimates published by the WHO suggest that the global population of age group 65 years and above is expected to increase from 7% in 2000 to 16% in 2050. Aging elevates the risk of diseases such as cardiovascular and cancer. Therefore, increase in global geriatric population is expected to raise the demand for continuous monitoring via facilities requiring POC MDx, such as home healthcare and assisted living healthcare facilities. Japan and China are two of the most affected Asian countries, and a significant increase in Japan's geriatric population is anticipated. Currently, more than 20% of the country's population is over the age of 65 years.
Increasing prevalence of cancer across countries has resulted in a continuous demand for point-of-care molecular diagnostic tests within hospitals. According to the National Center for Chronic Disease Prevention and Health Promotion, the annual cancer cases are likely to grow from 1.53 million in 2015 to 2.28 million by 2050. CDC has predicted incidence is likely to increase by 50% owing to increasing population within the U.S. Furthermore, emergence of CRISPR and NGS techniques for cancer detection has improved the diagnosis rates tremendously. With increasing affordability of NGS in past decade has also benefited the POC molecular diagnostics market for oncology. Such factors are likely to drive the global market.
Major companies active in the POC molecular diagnostics market include Danaher, BioMerieux, Bio-Rad Laboratories, Inc., Abbott, F. Hoffmann-La Roche AG, BD, and many more. Large number of pilot programs being initiated are likely to bring new products in the market. For instance, in march 2022, Intermountain Healthcare announced that they will be rolling out a Galleri Multi-Cancer Early Detection Test for 50 of their employees as a pilot plan, with this the company is expecting to launch new product in order to improve their market position.
Point-of-Care Molecular Diagnostics Market Report Highlights:
- By technology, the PCR-based segment held a larger share of the point-of-care molecular diagnostics market owing to increasing demand for RT-PCR tests for diagnosis of COVID-19 and other infectious diseases
- The POC test location segment is expected to grow lucratively over the forecast period due to rising demand from hospitals, clinics and ambulatory centers opting for rapid POC tests
- North America dominated the global market in 2023, owing to increasing demand for new technologies, a large pool of key players, rising prevalence of cancer, infectious diseases, and advanced healthcare infrastructure
- The Asia-Pacific is expected to grow considerably in the future owing to due to the growing healthcare infrastructure and rising awareness of cancer testing within the region
Companies Profiled in the Report:
- Abbott
- Bayer AG
- F. Hoffmann-La Roche AG
- Nova Biomedical
- QIAGEN
- Nipro Diagnostics
- Danaher
- Bio-Rad Laboratories, Inc.
- bioMerieux
- Agilent Technologies, Inc.
- Abaxis
- OraSure Technologies
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $8.17 Billion |
| Forecasted Market Value (USD) by 2030 | $10.12 Billion |
| Compound Annual Growth Rate | 2.5% |
| Regions Covered | Global |
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Segmentation and Scope
3.2. Market Lineage Outlook
3.2.1. Parent Market Outlook
3.2.2. Related/Ancillary Market Outlook
3.3. Market Dynamics
3.4. Market Drivers
3.5. Market Restraint Analysis
3.6. Business Environment Analysis
3.6.1. SWOT Analysis; By Factor (Political & Legal, Economic and Technological)
3.6.2. Porter's Five Forces Analysis
3.6.3. COVID-19 Impact Analysis
Chapter 4. Technology Business Analysis
4.1. Point-of-Care Molecular Diagnostics market: Technology Movement Analysis
4.2. PCR-based
4.3. Genetic Sequencing-based
4.4. Hybridization-based
4.5. Microarray-based
Chapter 5. Application Business Analysis
5.1. Point-of-Care Molecular Diagnostics Market: Application Movement Analysis
5.2. Infectious Diseases
5.3. Oncology
5.4. Hematology
5.5. Prenatal Testing
5.6. Endocrinology
5.7. Others
Chapter 6. Test Location Business Analysis
6.1. Point-of-Care Molecular Diagnostics Market: Test Location Movement Analysis
6.2. OTC
6.3. POC
Chapter 7. End-use Business Analysis
7.1. Point-of-Care Molecular Diagnostics Market: End-Use Movement Analysis
7.2. Decentralized Labs
7.3. Hospitals
7.4. Home-care
7.5. Assisted Living Healthcare Facilities
7.6. Others
Chapter 8. Regional Business Analysis
8.1. Point-of-Care Molecular Diagnostics Market Share By Region, 2023 & 2030
8.2. North America
8.3. Europe
8.4. Asia-Pacific
8.5. Latin America
8.6. MEA
Chapter 9. Competitive Landscape
9.1. Participant's overview
9.2. Financial performance
9.3. Participant categorization
For more information about this report visit https://www.researchandmarkets.com/r/ekxh6n
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