Dublin, April 09, 2024 (GLOBE NEWSWIRE) -- The "Point of Care (POC) Molecular Diagnostics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Point of Care (POC) Molecular Diagnostics Market to Reach $8.8 Billion by 2030
The global market for Point of Care (POC) Molecular Diagnostics estimated at US$3.7 Billion in the year 2023, is projected to reach a revised size of US$8.8 Billion by 2030, growing at a CAGR of 11.4% over the analysis period 2023-2030.
The provided information sheds light on the point of care (POC) molecular diagnostics industry, a field leveraging molecular technologies to monitor human diseases. It outlines the various types of molecular diagnostics tests and introduces the concept of POC molecular diagnostics, highlighting its significance in healthcare.
The document elaborates on the molecular testing mechanisms and compares molecular and non-molecular POC testing methods. It also offers insights into the global market prospects and outlook for POC molecular diagnostics, emphasizing PCR technology as a leader in the MDx market and infectious diseases as the largest application market. Additionally, it notes the dominance of reagents and kits in the molecular diagnostics market and the strong growth prospects in developing countries.
PCR-based Molecular Diagnostics, one of the segments analyzed in the report, is projected to record 12.1% CAGR and reach US$5.7 Billion by the end of the analysis period. Growth in the Genetic Sequencing-Based Molecular Diagnostics segment is estimated at 9.1% CAGR for the next 8-year period.
Moreover, the competitive landscape of the POC molecular diagnostics market is explored, including the global key competitors' percentage market share in 2023 and an assessment of competitive market presence worldwide. The document concludes with a glimpse into recent market activity, providing a comprehensive overview of the industry dynamics and key players in this sector.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 13.8% CAGR
The Point of Care (POC) Molecular Diagnostics market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2030 trailing a CAGR of 13.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.4% and 10.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 597 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.2 Billion |
| Forecasted Market Value (USD) by 2030 | $8.8 Billion |
| Compound Annual Growth Rate | 13.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Point of Care (POC) Molecular Diagnostics - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Molecular Diagnostics: Leveraging Molecular Technologies to Monitor Human Diseases
- Types of Molecular Diagnostics Tests
- An Introduction to Point of Care (POC) Molecular Diagnostics
- Molecular Testing Mechanisms
- Molecular Vs Non-Molecular POCT
- Global Market Prospects & Outlook
- PCR Technology Leads the MDx Market
- Infectious Diseases: The Largest Application Market
- Reagents and Kits Dominate the Molecular Diagnostics Market
- Developing Countries Present Strong Growth Prospects
- Competition
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Rising Demand for Point of Care Diagnostics Augurs Well for Molecular POC Diagnostics Market
- Emphasis on Decentralized Diagnostics Presents Opportunity for POC Testing
- Growing Prevalence of Infectious Diseases Spurs Need for POC Molecular Diagnostics
- Infectious Diseases Remain Major Cause of Death in Under Developed Regions: Breakdown of Leading Causes of Death in Sub-Saharan Africa (in %)
- Infectious Diseases Related Mortality High Among Children Below 5 Years: Breakdown of Leading Causes of Death in Children Below 5 Years (in %)
- PCR Plays a Vital Role in the Diagnosis of Infectious Diseases
- Rising Prevalence of Respiratory Infections to Drive Need for POC Molecular Diagnostics
- Global Number of Deaths Caused Due to Communicable Diseases (In 000s)
- Rise in Pollution Levels Trigger Increase in Respiratory Diseases, Driving Market Opportunities
- Percentage Share Breakdown of Global Deaths Linked to Air Pollution
- Air Pollution Levels (PM2.5 Concentration (?g/m) for Major Countries Worldwide for 2023
- Rising Cancer Incidence Drives Focus onto POC Molecular Diagnostics
- Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
- Global Number of New Cancer Cases and Cancer-related Deaths by Cancer Site for 2022
- Number of New Cancer Cases and Deaths (in Million) by Region for 2023
- Rising Incidence of Hospital Acquired Infections (HAIs) Propels Demand for POC Molecular Diagnostics
- Sustained Threat of HIV and Sexually Transmitted Diseases Amplify Need for POC Molecular Diagnostics
- Global HIV Prevalence: Number of People Living with AIDs (in Thousands) by Region for 2022
- Number of AIDS-Related Deaths (in Thousands) by Region for 2022
- Rapid HIV Tests: A New Age Diagnostic Weapon against the Killer Disease
- Home HIV Testing Emerges as a Lucrative Option
- Molecular Tests Gaining Prominence in GC/Chlamydia Testing Market
- Molecular Diagnostics Opens New Avenues in Viral Hepatitis Testing
- Hepatitis B Prevalence Worldwide by Region
- Demand Continues to Surge for CLIA-Waived Molecular POC Tests
- Advancements in POC for Molecular Diagnostics to Drive Market Growth
- Nanotechnology Facilitates Development of for POC Molecular Diagnostics
- Healthcare Needs of the World's Aging Population: Potential Opportunity in Store
- Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
- Increase in Healthcare Spending in Emerging Markets to Propel Demand for POC Molecular Diagnostics
- World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
- Elderly Healthcare Expenditure as a % of GDP for 1970, 2010 and 2050
- Challenges Facing POC Molecular Diagnostics Market
FOCUS ON SELECT PLAYERS(Total 64 Featured)
- Bayer AG
- Danaher Corporation
- DiaSorin SpA
- Biocartis NV
- Maxim Biomedical, Inc.
- AccuBioTech Co., Ltd.
- Abacus Diagnostica Oy
- genedrive plc
- Molbio Diagnostics Pvt. Ltd.
- Mesa Biotech, Inc.
- Binx Health
- Credo Diagnostics Biomedical Pte. Ltd
- Genestat Molecular Diagnostics, LLC
- Alveo Technologies
- ADOR Diagnostics
For more information about this report visit https://www.researchandmarkets.com/r/9f67mr
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