The global Point-of-Care Molecular Diagnostics market size was valued at US$ 2.85 billion in 2021 and is projected to surpass around USD 4.5 billion by 2030, poised to grow at a CAGR of 15.6% during the forecast period 2022 to 2030.
The global Point-of-Care Molecular Diagnostics market size was valued at US$ 2.85 billion in 2021 and is projected to surpass around USD 4.5 billion by 2030, poised to grow at a CAGR of 15.6% during the forecast period 2022 to 2030.
Report Highlights
- Infectious diseases segment accounted for the largest revenue share in 2020.
- PCR-based tests accounted for the largest revenue share in 2020.
- OTC tests are expected to generate higher revenue over the forecast period.
- Decentralized laboratories accounted for the largest revenue share in 2020.
- Asia Pacific is expected to witness the fastest growth over the forecast period.
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Growth Factors
Increased need for accurate and faster testing methods and results for the molecular tests is expected to propel the market growth. These modern techniques are enabling a remarkable makeover in the field of molecular diagnosis. Other factor driving the market includes high quality of test results in very short time.
POC Molecular testing enables physicians to improve the standard of care by combining quick diagnosis with treatment decision in the first visit by the patient instead of hours and days to have the test results. This would help prescribe a treatment in the first instance without having to wait for final results. In addition, improving knowledge in the understanding of molecular mechanisms in the common as well as rare disorders and the advancement of DNA sequencing and analysis are some other factors that are expected to enhance POC molecular diagnostics capabilities.
Application Insights
PoC testing in molecular diagnostics has numerous applications including near patient testing in infectious disease management, oncology, hematology, prenatal testing, and endocrinology. Most significant developments on an application basis have taken place in the fields of infectious diseases and oncology PoC molecular tests.
Infectious diseases segment accounted for the largest revenue share in 2020. Some of the factors contributing to the revenue share of infectious diseases for rapid molecular diagnostic tests are, they provide and facilitate suitable antimicrobial treatment, faster disease management, improved distribution of healthcare laboratory assets and reduce mortality and costs.
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Technology Insights
Based on technology, the PoC molecular diagnostics market has been categorized into PCR-based, genetic sequencing-based, hybridization-based, and microarray-based tests and devices. PCR-based tests accounted for the largest revenue share in 2020. Commercialization of PoC tests that provide rapid real time PCR analysis with a high level of accuracy for infectious diseases, such as H1N1 and influenza, will drive the market. NGS-based molecular testing near the patient is anticipated to witness considerable growth over the forecast period due to a number of developments in the market.
Innovative changes of the platforms that enable genetic sequencing and analysis of DNA data at the point of care with high accuracy and provide rapid diagnosis are attributive towards anticipated progress of this segment. Rapid DNA analysis is expected to register considerable growth in the coming years owing to the continued innovation and R&D by major players in this market.
Test Location Insights
Based on test location, the market is bifurcated into PoC and Over-the-Counter (OTC) tests. OTC tests have higher levels flexibility and portability than POC tests when it comes to usage at homes and assisted living facilities. Majority of the OTC users constitute non-skilled personnel and, in most cases, the patients themselves. In addition, a number of these testing devices are CLIA waived, which encourages the users to use these tests in non-laboratory settings. Owing to their ease of usage, easy availability, and greater adoption rate, OTC tests are expected to generate higher revenue over the forecast period.
End Use Insights
Based on end use, the market is divided into decentralized laboratories, hospitals, homecare, assisted living healthcare facilities, and others. Decentralized laboratories accounted for the largest revenue share in 2020.
Ability of these tests to provide rapid and accurate molecular analysis while having a significantly smaller physical footprint as compared to the central laboratory-based counterparts is a major factor that supports the segment’s larger revenue share.
Regional Insights
Ongoing efforts by major market participants to strengthen their market position is an important factor contributing to the major share. Furthermore, a number of clinical studies investigating the efficiency and accuracy of novel molecular tests are also expected to contribute towards the market growth over the forecast period. Growing demand for rapid diagnosis and development of newer molecular diagnostic tests for DNA analysis have poised the European region as a major market space. However, Asia Pacific is expected to witness the fastest growth over the forecast period due to the lack of sophisticated central laboratory testing services, a larger population base in need for clinical testing, and potential cost-effective implementation of PoC molecular tests.
Key Players
Abbott Laboratories, Bayer Healthcare; F. Hoffmann-La Roche AG; Becton, Dickinson and Company; BioMerieux; Bio-Rad Laboratories, Inc.; Cepheid, Inc.; Danaher Corporation; and Johnson and Johnson.
Market Segmentation
- Application Outlook
- Infectious Diseases
- Oncology
- Hematology
- Prenatal Testing
- Endocrinology
- Other Applications
- Technology Outlook
- PCR-based
- Genetic Sequencing-based
- Hybridization-based
- Microarray-based
- Test Location Outlook
- Over-the-Counter (OTC)
- PoC
- End Use Outlook
- Decentralized Labs
- Hospitals
- Homecare
- Assisted Living Healthcare Facilities
- Other Uses
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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