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Point of Care Molecular Diagnostics Market size to surpass $90 Bn by 2032

  • Published Date: February 14, 2023

Point of Care Molecular Diagnostics Market size is set to be valued at over USD 90 billion by 2032, according to a new research report by Global Market Insights Inc.

The growing need for superior personalized treatment has raised the demand for modern technologies for DNA extraction, purification, and amplification. Thus, the development of advanced DNA sequencing & analysis is expected to fuel point of care molecular diagnostics market growth. For instance, in December 2022, Alercell, a molecular diagnostics startup, introduced LENA Q51, a leukemia diagnostic test based on DNA sequencing that can identify up to 51 Gene mutations in Leukemia patients and allows the organization to customize patient care.

Furthermore, the extensive use of POC testing for blood glucose monitoring in patients with diabetes, as well as for pregnancy and HIV testing, is creating new opportunities for manufacturers to develop advanced instruments. The onset of COVID-19 caused an upsurge in the demand for these devices, prompting firms to focus on developing simpler and more reliable next-generation POC molecular diagnostics, which is foreseen to support business expansion.

Growing application for oncology to augment in-situ hybridization segment revenues

Point of care molecular diagnostics market size from the in-situ hybridization segment is projected to surpass USD 15.5 billion in revenue by the end of 2032. This progression is attributed to its increasing utilization in cancer and personalized medicines.

The growing popularity of FISH (fluorescence in situ hybridization) as a laboratory-based test for breast cancer, sarcoma, lymphoma, multiple myeloma, myelodysplastic syndrome (MDS), and certain leukemias, which aids in the development of a comprehensive view of a cancer diagnosis by zooming in on the genetic information in the cell, is estimated to drive segment progress.

Browse key industry insights spread across 170 pages with 156 market data tables & 18 figures & charts from the report, “Point of Care 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, COVID-19}, Oncology, Hematology), By End-use (Hospitals, Clinics, Diagnostic Centers), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:

Surging incidences of hematologic malignancies to fuel market development 

Point of care molecular diagnostics market landscape from the hematology segment is anticipated to depict a 12% value by 2032 driven by the rising prevalence of hematologic malignancies and the development of highly sensitive point-of-care hematology analyzers and reagents. In February 2022, medical equipment manufacturer PixCell Medical developed the HemoScreen device, a compact diagnostic platform, for conducting the CBC test at the point of care, enabling cancer patients to perform lab-accurate tests at home and receive results in under five minutes.

Increasing integration of novel products to stimulate diagnostics centers segment scenario

Point of care molecular diagnostics market from the diagnostic centers segment is projected to witness an over 7.5% CAGR from 2023 to 2032. Growing patient preference for diagnostic centers, as well as increasing efforts by various industry participants to provide specialized services and novel technology, are speculated to stimulate segment expansion.

Mounting funding from public & private entities to complement Asia Pacific market progress

Asia Pacific point of care molecular diagnostics market is poised to reach a valuation of over USD 21.5 billion by 2032 owing to mounting funding by public and private organizations to raise awareness about product benefits, along with growing efforts by key market players in developing APAC nations to acquire a major market share.

Advancements in liquid biopsy products to strengthen industry outlook

BioMerieux SA, OraSure Technologies, Inc, Bio-Rad Laboratories, Danaher Corporation, Abaxis Inc, Roche Diagnostics, Sysmex Corporation, and VIRCELL S.L., among others are some major corporations operating in the market.

Authors: Sumant Ugalmugle, Rupali Swain

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