The point-of-care molecular diagnostics market is expected to be worth US$ 4.4 billion in 2023, rising to US$ 11.1 billion by 2033. During the forecast period, the market is expected to grow at a CAGR of 9.7%.

Many current point-of-care diagnostics are based on lateral flow immunoassay technology, and these instruments use antibodies to detect the presence of an analyte, such as cancer biomarkers, in a short period of time, thereby accelerating the growth of the point-of-care molecular diagnostics market.

According to the point-of-care molecular diagnostics market report, the growing trend toward preventive medicine is driving up demand for point-of-care molecular diagnostics. This is expected to significantly influence future trends in point-of-care molecular diagnostics.

According to UN data, the number of older adults has been steadily increasing for decades. As a result of this demographic shift, the prevalence of various chronic diseases is increasing, making point-of-care molecular diagnostics devices more appealing.

Current cancer diagnostic methods, according to the study, are invasive (for example, cystoscopy, which involves inserting a hollow tube/cystoscope equipped with a lens into the urethra and bladder to diagnose cancer). However, less invasive methods, such as point-of-care molecular tests, may be available for point-of-care cancer diagnostics, expanding the opportunities for point-of-care molecular diagnostics.

As countries gradually relax their travel restrictions, the number of people testing has increased. Aside from vaccines and therapeutic drugs, there is a growing demand for more precise and simple testing technologies, as well as the expansion of testing structures.

Aside from cancer in the elderly, respiratory diseases in children and adults are quickly becoming one of the top five killers. According to Pfizer, there are currently no RSV immunisation options available, despite the fact that many vaccines are still in clinical trials.

People are dying as a result of this because they are not aware of the available treatment. As a result, the availability of point-of-care molecular diagnostic tests is critical for rapid analysis and, as a result, providing patients with immediate treatment.

Key Players Covered in the Point-Of-Care Molecular Diagnostics Market:

Danaher Corporation (US), Alere Inc. (US), Quidel Corporation (US), Biocartis Group NV (Belgium), bioMérieux SA (France), Thermo Fisher Scientific (US), Mesa Biotech Inc. (US), F. Hoffmann-La Roche Ltd., and Meridian Bioscience Inc. (US) are the critical point-of-care diagnostic companies profiled in the global POC molecular diagnostics market.

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Point-of-care Molecular Diagnostics Market Key Segments

By Product & Service:

  • Assays & kits
  • Instruments & Analyzers
  • Software & Services

By Technology:

  • RT-PCR
  • Other technologies

By Application:

  • Respiratory Diseases
  • Sexually Transmitted Diseases
  • Hospital-acquired Infections
  • Cancer
  • Hepatitis
  • Gastrointestinal Disorders
  • Other Applications

By End User:

  • Physicians’ Offices
  • Hospitals & ICUs
  • Research Institutes
  • Other End Users