Point of Care (PoC) Molecular Diagnostics Market Size By Technology (PCR, In Situ Hybridization, Sequencing, Isothermal Amplification), By Application (Infectious Disease, {Flu, Respiratory Syncytial Virus (RSV), Tuberculosis (TB), HIV, Gonorrhoea, Chlamydia, Hepatitis C, Hepatitis B}, Oncology, Hematology), By End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Apr 2021  |  Report ID: GMI2210  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 165   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Point of Care Molecular Diagnostics Market size valued at USD 3 billion in 2020 and is expected to witness 5.4% CAGR from 2021 to 2027. Growing incidence of infectious diseases has considerably driven the demand for effective diagnosis. Increasing demand for diagnostic tools to control and eliminate infectious diseases, timely detection of causative agent, allowing effective treatment and disease control will fuel the market during the forecast period. Additionally, modern techniques are enabling a remarkable makeover in the field of molecular diagnosis.
 

Point of Care (PoC) Molecular Diagnostics Market Overview

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Point of care molecular testing enables physicians to improve the standard of care by combining quick diagnosis with treatment decision in the first visit by the patient to have the test results. This is critical in detecting infectious agents, in determining a patient's ability to metabolize a drug or drug class, and in detecting minimal residual disease.
 

Point of care molecular diagnostics has improved the standard of care owing to quick analysis and low cost per test. Adoption and miniaturization of current technology has also escalated its demand, thus augmenting the market growth in the coming years. Moreover, rising funding from government organizations and private firms for research and development activities will boost the market potential during the forecast timeframe.
 

High demand for PCR and RT PCR kits during COVID-19 pandemic will stimulate the point of care molecular diagnostics market expansion

COVID-19 has affected millions of people resulting into high infectivity and mortality rate. Quick diagnosis of COVID-19 is essential to control the spread of infectious disease. Point of care molecular diagnostics has played a vital role during pandemic from collecting samples at the right time and from the exact anatomical site that is crucial for proper diagnosis. For instance, China formulated RT-PCR as a primary diagnostic procedure for detecting SARS-CoV-2. Various major market players are collaborating with government organizations to develop products that have a potential to lower the burden of diagnosis on the primary diagnostic techniques like RT-PCR. However, concerns associated long product development time and complex regulatory process can moderately affect the industry growth during the forecast timeline.
 

Improved results and faster outcomes for better treatment through polymerase chain reaction (PCR) technology will strengthen the segment growth

PCR segment dominated more than 58% of the market share in 2020 led by the expansion of its application and increased precision and accuracy. In addition, RT-PCR and DNA/RNA purification are observing high growth due to their benefits such as low reagent consumption, real-time process monitoring, automation of workflow, and greater precision and reproducibility. Thus, rising occurrence of genetic disorders and infectious diseases coupled with increasing public-private investments, grants and funds for PCR-based research will further support the business growth.
 

Rising demand for novel products regarding early and cost-effective detection of infectious diseases will influence the product demand

Point of Care Molecular Diagnostics Market Share

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Infectious diseases segment in the point of care molecular diagnostics market accounted for USD 2 billion in 2020. Rising laboratory capacity for the diagnosis of infectious diseases and early detection of emerging pandemic strains will spur the industry expansion.
 

Growing prevalence of infectious disease in elderly people, new-born babies, and people with certain chronic illnesses coupled will impel the growth during analysis period. Additionally, increasing availability of rapid tests resulting in rising applications in faster disease diagnosis will impact the product demand in future.
 

Flu segment will showcase robust growth during forecast period. As per WHO, the average worldwide burden of seasonal influenza is approximately 600 million cases, with 250,000-500,000 deaths and 3 million cases of severe sickness per year. According to CDC estimates, in the U.S. about 200,000 individuals are hospitalized and around 36,000 people die from flu and its complications every year. Thus, growing disease pervasiveness and innovation in diagnostic tools will drive the segment revenue.
 

Easy availability of the diagnostic products and presence of skilled workforce in hospitals will augment the segment value

Hospital segment in the point of care molecular diagnostics market exceeded USD 1.50 billion revenue in 2020 propelled by sophisticated infrastructure, presence of skilled workforce and increasing number of hospital admissions. Furthermore, requirement of faster diagnostic kits in hospitals for better treatment option will further enhance the segment demand during the forecast period.
 

Increasing research activities for development of novel products and presence of major companies in the region will stimulate the growth for North America region

North America Point of Care Molecular Diagnostics Market

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North America point of care molecular diagnostics market size was over USD 1.4 billion in 2020. Rising prevalence of infectious diseases and growing application of POC tests for safe and early diagnosis will increase the demand for such rapid tests. Also, high research and development investment by governments and major market players for development of POC molecular diagnostic tests will foster the market revenue during the forecast timeline.
 

Increasing cases of COVID-19 in the region will boost the usage of point of care molecular diagnostic kits to manage the disease efficiently. Moreover, surmounting use of PCR-based procedures for diagnosis and commercialization of real-time PCR products will further influence the regional demand.
 

Prominent industry leaders are focusing on product launch and approvals that will fuel their business growth potential

Some of the leading industry participants operating in the point of care molecular diagnostic market include Roche, Danaher and Abbott Laboratories. These industry players are adopting various inorganic growth strategies to obtain competitive advantage and strengthen their market position.
 

Some of the recent industry developments:

  • In March 2020, Abbott received the U.S. FDA Emergency Use Authorization (EUA) for the molecular point of care test to detect COVID-19 within 5 minutes. This strategy helped the company in broadening its molecular diagnostics product portfolio.
     
  • In March 2021, BioMérieux announced the CE marking of TB IGRA test on VIDAS. This strategy will help the company in setting up their footprint in the market.
     

The point of care (PoC) molecular diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:
 

Market, By Technology

  • Polymerase Chain Reaction
  • In Situ Hybridization
  • Sequencing
  • Isothermal amplification
  • Others

Market, By Application

  • Infectious Disease
    • Flu
    • Respiratory Syncytial Virus
    • Tuberculosis
    • HIV
    • Gonorrhea
    • Chlamydia
    • Hepatitis C
    • Hepatitis B
    • Others
  • Oncology
  • Hematology
  • Others

Market, By End-use

  • Hospitals
  • Clinics
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Malaysia
    • Thailand
    • Vietnam
    • Philippines
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Nigeria
    • Egypt
    • Morocco
    • UAE
       

Frequently Asked Questions (FAQ) :

The market for point of care molecular diagnostics had reached USD 3 billion in 2020 and will register around 5.4% CAGR up to 2027.
PCR technology segment held over 58% of global point of care molecular diagnostics industry share during 2020 and will expand due to improved accuracy and precision offered.
The market share from infectious disease segment had surpassed USD 2 billion in 2020 and will grow further with the need for early detection of pandemic strains.
North America point of care molecular diagnostics industry size was over USD 1.4 billion in 2020 and will gain traction with increased use of POC tests for early diagnosis of diseases.

Premium Report Details

  • Published Date: Apr 2021
  • Pages: 165
  • Tables: 157
  • Charts / Figures: 18
  • Companies covered: 10
  • Countries covered: 26

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