- Genetic Sequencing-based
PoC Molecular Diagnostics Market size was valued at USD 2.50 billion in 2021 and is expected to reach USD 3.9 billion by 2028, at a CAGR of 11.69% during the forecast period 2022-2028. Rising focus on decentralized diagnostics, increasing worldwide prevalence of infectious diseases, improved need for accurate and faster testing methods, growing awareness regarding benefits of early disease diagnosis and awareness amongst people will increase demand for point of care molecular diagnostics and growing demand for CLIA-waived molecular POC tests are some key factors fostering the market growth. However, factors such as Inadequate Reimbursements and strict government regulations are hindering the market growth. This report studies global PoC molecular diagnostics market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).
Fastest Growing Market
Point-of-care (POC) diagnostics provide rapid actionable information for patient care at the time and site of an encounter with the health care system. Many tests have received clinical laboratory improvement amendments (CLIA) waivers that enable POC use. CLIA-waived tests are typically simple and have a low risk for an incorrect result. With CLIA waiver, these tests can be used in a wide range of settings including pharmacy-based clinics, urgent care centers and hospitals, increasing access to testing and streamlining care. Another feature of many POC molecular flu tests is room temperature storage of test components, creating a more versatile lab footprint and allowing testing to be performed in a variety of locations.
The poc molecular diagnostics market is projected to expand at a CAGR of 11.69% during the forecast period
Abbott Laboratories, Danaher Corporation, Biomérieux Sa, Roche Diagnostics, Quidel, Meridian Bioscience, Mesa Biotech, Genepoc, DxNA, Atlas Genetics, Spartan Bioscience
North America is the fastest-growing region for poc molecular diagnostics market