The global point-of-care molecular diagnostics market size was estimated to be USD 7.45 billion in 2023 and is expected to reach at USD 20.7 billion by 2033 with a CAGR of 9.75% during the forecast period 2023-2033. The point-of-care molecular diagnostics market is anticipated to grow over the next few years as a result of rising demand for rapid tests and a significant number of new point-of-care test product introductions. In addition, one of the most important drivers of market expansion is ongoing improvement in the quality of the products available on the shelves.
Rising incidence of cardiovascular diseases, diabetes, cancer, and infectious disorders is expected to fuel the market growth during the forecast period. By 2030, cardiovascular diseases are expected to be responsible for 23.3 million deaths, according to the WHO. The increasing prevalence of cardiovascular diseases worldwide is caused by factors including the global increase in smoking, bad diets, and rising obesity rates. The need for POC MDx tests has increased as a result of the existence of unmet medical needs relating to cardiovascular diseases and the development in patient awareness of various advancements in disease diagnostics.
By Technology, PCR-based was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to rising adoption of diagnostic tests of infectious diseases, increasing technological advancements, growing advanced product launches, and surge in mergers & acquisitions within key market players. For instance, in September 2021, F. Hoffmann-La Roche Ltd. has purchased TIB Molbiol in order to enhance its collection of PCR tests, incorporating a diverse set of assays for detecting infectious diseases. Additionally, Genetic sequencing-based is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for personalized genome mapping and growing research & development activities.
By Test Location, OTC was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to surge in outbreak of infectious diseases and growing demand from forensic sciences, and increasing launch of diagnostic products. Additionally, POC is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for molecular diagnostics, surge in development molecular diagnostic platforms, and increasing introduction of advanced products. For instance, In July 2021, QuantuMDx has unveiled its rapid point-of-care PCR system, known as Q-POC, for the diagnosis of Covid-19.
By Application, Infectious Diseases was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to increasing demand for molecular tests, rising new product launches, growing adoption of advanced molecular diagnostic techniques. Additionally, Oncology is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of cancer and growing product launches. For instance, in May 2022, Inex Innovate has received CE approval for their OvaCis Rapid Test, a point-of-care diagnostic tool designed to differentiate between benign and malignant ovarian cysts. The test offers results within 15 minutes, significantly reducing the testing duration.
By End-user, Decentralized Labs was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to increase in accurate molecular analysis, rising advances in personalized medicine, and growing usage of point-of-care technology, and surge in investment by kay market players for the development of point-of-care molecular diagnostic platforms. For instance, in December 2021, FIND has allocated a total of USD 21 million in investments to Biomeme, Bioneer, Qlife, and SD Biosensor. This funding aims to expedite the progress, production, and introduction of cost-effective molecular diagnostic platforms for point-of-care use, capable of detecting various pathogens. Additionally, Home-care is predicted to grow at fastest CAGR during the forecast period owing to the increasing lifestyle related diseases like obesity, diabetes, high blood pressure, growing adoption of home health care facilities, and rising launch of new products.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of infectious diseases & cancer, rising healthcare infrastructure, surge in adoption of technologically advanced infectious disease testing, growing government funding & support, and increasing introduction of advanced diagnostic testing products. For instance, In March 2020, Abbott Laboratories has introduced a novel point-of-care solution for the detection of COVID-19. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in approvals for molecular diagnostic kits, growing demand for rapid & efficient testing. For instance, In April 2023, QIAGEN has recently introduced QIAstat-Dx in Japan, featuring a respiratory panel specifically designed for syndromic testing.
Rising incidence of cardiovascular diseases, diabetes, cancer, and infectious disorders is expected to fuel the market growth during the forecast period. By 2030, cardiovascular diseases are expected to be responsible for 23.3 million deaths, according to the WHO. The increasing prevalence of cardiovascular diseases worldwide is caused by factors including the global increase in smoking, bad diets, and rising obesity rates. The need for POC MDx tests has increased as a result of the existence of unmet medical needs relating to cardiovascular diseases and the development in patient awareness of various advancements in disease diagnostics.
By Technology, PCR-based was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to rising adoption of diagnostic tests of infectious diseases, increasing technological advancements, growing advanced product launches, and surge in mergers & acquisitions within key market players. For instance, in September 2021, F. Hoffmann-La Roche Ltd. has purchased TIB Molbiol in order to enhance its collection of PCR tests, incorporating a diverse set of assays for detecting infectious diseases. Additionally, Genetic sequencing-based is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for personalized genome mapping and growing research & development activities.
By Test Location, OTC was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to surge in outbreak of infectious diseases and growing demand from forensic sciences, and increasing launch of diagnostic products. Additionally, POC is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for molecular diagnostics, surge in development molecular diagnostic platforms, and increasing introduction of advanced products. For instance, In July 2021, QuantuMDx has unveiled its rapid point-of-care PCR system, known as Q-POC, for the diagnosis of Covid-19.
By Application, Infectious Diseases was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to increasing demand for molecular tests, rising new product launches, growing adoption of advanced molecular diagnostic techniques. Additionally, Oncology is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of cancer and growing product launches. For instance, in May 2022, Inex Innovate has received CE approval for their OvaCis Rapid Test, a point-of-care diagnostic tool designed to differentiate between benign and malignant ovarian cysts. The test offers results within 15 minutes, significantly reducing the testing duration.
By End-user, Decentralized Labs was the highest revenue-grossing segment in the global point-of-care molecular diagnostics market in 2022 owing to increase in accurate molecular analysis, rising advances in personalized medicine, and growing usage of point-of-care technology, and surge in investment by kay market players for the development of point-of-care molecular diagnostic platforms. For instance, in December 2021, FIND has allocated a total of USD 21 million in investments to Biomeme, Bioneer, Qlife, and SD Biosensor. This funding aims to expedite the progress, production, and introduction of cost-effective molecular diagnostic platforms for point-of-care use, capable of detecting various pathogens. Additionally, Home-care is predicted to grow at fastest CAGR during the forecast period owing to the increasing lifestyle related diseases like obesity, diabetes, high blood pressure, growing adoption of home health care facilities, and rising launch of new products.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of infectious diseases & cancer, rising healthcare infrastructure, surge in adoption of technologically advanced infectious disease testing, growing government funding & support, and increasing introduction of advanced diagnostic testing products. For instance, In March 2020, Abbott Laboratories has introduced a novel point-of-care solution for the detection of COVID-19. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in approvals for molecular diagnostic kits, growing demand for rapid & efficient testing. For instance, In April 2023, QIAGEN has recently introduced QIAstat-Dx in Japan, featuring a respiratory panel specifically designed for syndromic testing.
Segmentation: Point-of-care Molecular Diagnostics Market Report 2022-2033
Point-of-care Molecular Diagnostics Market Analysis & Forecast By Technology 2022-2033 (Revenue USD Bn)
- Genetic Sequencing-based
- PCR-based
- Microarray-based
- Hybridization-based
Point-of-care Molecular Diagnostics Market Analysis & Forecast By Test Location 2022-2033 (Revenue USD Bn)
- POC
- OTC
Point-of-care Molecular Diagnostics Market Analysis & Forecast By Application 2022-2033 (Revenue USD Bn)
- Oncology
- Prenatal Testing
- Hematology
Infectious Diseases
- Clostridium difficile POC
- Pneumonia or Streptococcus associated infections
- HIV POC
- HCV POC
- TB and drug-resistant TB POC
- Influenza/Flu POC
- MRSA POC
- Respiratory syncytial virus (RSV) POC
- Endocrinology
Point-of-care Molecular Diagnostics Market Analysis & Forecast By End-user 2022-2033 (Revenue USD Bn)
- Hospitals
- Decentralized Labs
- Assisted Living Healthcare Facilities
- Home-care
Point-of-care Molecular Diagnostics Market Analysis & Forecast by Region 2022-2033 (Revenue USD Bn)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Point-of-care Molecular Diagnostics Market: Technology Estimates & Trend Analysis
8. Point-of-care Molecular Diagnostics Market: Test Location Estimates & Trend Analysis
9. Point-of-care Molecular Diagnostics Market: Application Estimates & Trend Analysis
10. Point-of-care Molecular Diagnostics Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Point-of-care Molecular Diagnostics Market
13. Europe Global Point-of-care Molecular Diagnostics Market
14. Asia Pacific Global Point-of-care Molecular Diagnostics Market
15. Latin America Global Point-of-care Molecular Diagnostics Market
16. MEA Global Point-of-care Molecular Diagnostics Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Bayer AG
- Abbott
- QIAGEN
- Abaxis
- Danaher
- Agilent Technologies
- OraSure Technologies
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | July 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 7.45 Billion |
| Forecasted Market Value ( USD | $ 20.7 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
