The point-of-care molecular diagnostics market is estimated to capture a valuation of US$ 4.4 billion in 2023 and is rising to US$ 11.1 billion by 2033. The market is predicted at a CAGR of 9.7% during the forecast period.
Point-of-care Molecular Diagnostics Market – Driving Factors
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Lack of awareness about health and healthcare products in developing countries limits market growth. The absence of reimbursement policies and poor penetration of advanced healthcare devices further hinder the market growth in a few regions.
Emerging Growth Opportunities in the Developing Countries
Manufacturers in developing countries such as India, South Korea, and Brazil significantly produce point-of-care molecular diagnostics. Growing patients population, testing products, advanced healthcare infrastructure, and rising infectious diseases are advancing the market opportunities.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 9.7% |
| Market Valuation (2023) | US$ 4.4 billion |
| Market Valuation (2033) | US$ 11.1 billion |
According to Future Market Insights, the global point-of-care molecular diagnostics market is predicted at a healthy 9.7% CAGR during the forecast period. Historically, the market registered a CAGR of 10.4%&between 2017 and 2022.
Increased prevalence of infectious diseases, research and development activities, and early detection of infectious diseases are the factors driving the market growth globally. Apart from these factors, increasingly advanced commercialized technology, diagnostic alternatives, and improved therapeutic are growing the demand for point-of-care molecular diagnostics.&
Adopting point-of-care molecular diagnostics to identify gene expression in molecular biology fosters market growth. In the recent period, healthcare physicians have improved the standard of testing with the ability of quick testing, which consequently increases the demand for point-of-care diagnostics. In 2022, according to the American Cancer Society, around 1.9 million new cancer cases were recorded in the United States.
The market is estimated to reach US$ 11.1 billion during the forecast period. Historically, the market stood at US$ 3.4 billion from 2017 to 2022.&
Principal Consultant
| Segment | Product and Services |
|---|---|
| Top Category | Assays & Kits |
| Historic CAGR | 10.2% |
| Forecast CAGR | 10% |
| Segment | Technology |
|---|---|
| Top Category | RT-PCR |
| Historic CAGR | 9.6% |
| Forecast CAGR | 9.2% |
Based on products & services, assays & kits are leading the global market by capturing a CAGR of 10% during the forecast period. The growing adoption of assays & kits products by several end-use industries is surging the market growth. The increasing adoption of assays & kits due to quick and accurate testing is further fueling the market expansion.
Growing demand for assays & kits in the laboratory to research drugs, science life, and environment monitoring is propelling market opportunities. Historically, the assays & kits captured a CAGR of 10.2% between 2017 and 2022.
Based on application, respiratory diseases are estimated to lead the global market by securing a significant CAGR during the forecast period. Due to surging respiratory diseases, the testing equipment for infectious illnesses is significantly growing, which results in indriving market growth. According to a report by LANCET, in 2019, nearly 17.2 billion cases related to upper respiratory infections were there around the globe. These factors are expanding the global market by increasing sales.&
RT-PCR Category Dominating the Market in the Technology Segment
Based on technology, the RT-PCR category is leading the global market by securing a CAGR of 9.2% during the forecast period. Due to increasing several testing, including COVID-19, proteomics and genomics are rising the adoption of RT-PCR. The demand for RT-PCR is continuously growing due to cost efficiency, high sensitivity, and low time consumption.&
The demand for RT-PCR is increasing for several other infections, such as Ebola, which favours market opportunities. Historically, the RT-PCR secured a CAGR of 9.6% between 2017 and 2022.
Based on end users,&the hospitals & ICUs&segment registered a huge revenue by securing a significant share during the forecast period. Soaring diseases, patient population, and advanced technology testing equipment are driving the hospitals & ICUs segment. The increasing adoption of point-of-care molecular testing by healthcare providers to detect accurate diseases in hospitals & ICUs is surging the market opportunities.
| Country | United States |
|---|---|
| CAGR (2017 to 2022) | 12.2% |
| CAGR (2023 to 2033) | 9.5% |
| Valuation (2023 to 2033) | US$ 3.9 billion |
| Country | United Kingdom |
|---|---|
| CAGR (2017 to 2022) | 11.2% |
| CAGR (2023 to 2033) | 8.8% |
| Valuation (2023 to 2033) | US$ 467.1 million |
| Country | China |
|---|---|
| CAGR (2017 to 2022) | 11.8% |
| CAGR (2023 to 2033) | 9.1% |
| Valuation (2023 to 2033) | US$ 796.5 million |
| Country | Japan |
|---|---|
| CAGR (2017 to 2022) | 10.7% |
| CAGR (2023 to 2033) | 8.2% |
| Valuation (2023 to 2033) | US$ 651 million |
| Country | South Korea |
|---|---|
| CAGR (2017 to 2022) | 9.3% |
| CAGR (2023 to 2033) | 7.4% |
| Valuation (2023 to 2033) | US$ 383 million |
The United States is to capture a significant portion of the global market by securing a CAGR of 9.5% with a valuation of US$ 3.9 billion during the forecast period. Rising research & development activities, innovation of advanced products, presence of key players, and government initiatives are expanding the United States' point-of-care molecular diagnostics market.
The increase of several chronic diseases, novel products, and prominent expansion in the healthcare sector surged the United States market opportunities. In North America, in 2020, the market surged at a valuation of US$ 1.4 billion. Rising early-stage infectious, POC testing and increasing COVID-19 tests in recent years are expanding the market opportunities in the United States. Historically, the United States secured a CAGR of 12.2% between 2017 and 2022.
The United Kingdom is registering a CAGR of 8.8% with a valuation of US$ 467.8 million during the forecast period. Rising healthcare infrastructure, urbanization, research & development activities, and huge investments by the government are driving market opportunities in the United Kingdom.
Growing demand for point-of-care molecular PCR to detect chronic and infectious diseases fuels the market size. According to Cancer Research United Kingdom, around 375400 new cancer cases were recorded in the United Kingdom between 2016 and 2018. Historically, the United Kingdom captured a CAGR of 11.2% between 2017 and 2022.
China is one of the significant contributors to the Asia-Pacific market. China is securing a CAGR of 9.1% with a valuation of US$ 796.5 million during the forecast period. The increasing number of testing laboratories, clinical testing, and large population is expanding the market growth.
Rising cost-effective and advanced testing boosts the demand for point-of-care molecular diagnostics in China. China's point-of-care molecular diagnostics market historically captured a CAGR of 11.8% between 2017 and 2022.
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The number of key marketers uplifts the global market by playing a significant role. These players focus on developing innovative products to enhance the healthcare sector. Their new ideas, tactics, and deep market research welcome better products in the global market.
The distribution channels and innovative advanced novel technology products upsurge the market at another height. Apart from it, they adopted a few marketing strategies such as mergers, partnerships, acquisitions, collaborations, and agreements.
Recent Developments:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa,South Africa, and Türkiye |
| Key Segments Covered | Product and Services, Technology, End User, Application, Region |
| Key Companies Profiled | Abbott Laboratories; Hoffmann-La Roche Ltd.; BioMérieux S.A.; Danaher Corporation; Quidel Corporation; QIAGEN N.V.; Co-Diagnostics, Inc.; Biocartis NV (Belgium); Meridian Bioscience, Inc.; Thermo Fisher Scientific, Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at US$ 4.4 billion in 2023.
Danaher Corporation, Quidel Corporation, and QIAGEN N.V. are the key market players.
The market is forecast to register a CAGR of 9.7% through 2033.
The market is estimated to be worth US$ 11.1 billion by 2033.
The market registered a CAGR of 10.4% from 2017 to 2022.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product & Service
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Product & Service, 2017 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product & Service, 2023 to 2033
5.3.1. Assays & kits
5.3.2. Instruments & Analyzers
5.3.3. Software & Services
5.4. Y-o-Y Growth Trend Analysis By Product & Service, 2017 to 2022
5.5. Absolute $ Opportunity Analysis By Product & Service, 2023 to 2033
6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Technology
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Technology, 2017 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Technology, 2023 to 2033
6.3.1. RT-PCR
6.3.2. INAAT
6.3.3. Other Technologies
6.4. Y-o-Y Growth Trend Analysis By Technology, 2017 to 2022
6.5. Absolute $ Opportunity Analysis By Technology, 2023 to 2033
7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Application , 2017 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application , 2023 to 2033
7.3.1. Respiratory Diseases
7.3.2. Sexually Transmitted Diseases
7.3.3. Hospital-acquired Infections
7.3.4. Cancer
7.3.5. Hepatitis
7.3.6. Gastrointestinal Disorders
7.3.7. Other Applications
7.4. Y-o-Y Growth Trend Analysis By Application , 2017 to 2022
7.5. Absolute $ Opportunity Analysis By Application , 2023 to 2033
8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By End User, 2017 to 2022
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User, 2023 to 2033
8.3.1. Physicians Offices
8.3.2. Hospitals & ICUs
8.3.3. Research Institutes
8.3.4. Other End Users
8.4. Y-o-Y Growth Trend Analysis By End User, 2017 to 2022
8.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033
9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2022
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. Middle East and Africa
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. USA
10.2.1.2. Canada
10.2.2. By Product & Service
10.2.3. By Technology
10.2.4. By Application
10.2.5. By End User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product & Service
10.3.3. By Technology
10.3.4. By Application
10.3.5. By End User
10.4. Key Takeaways
11. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Product & Service
11.2.3. By Technology
11.2.4. By Application
11.2.5. By End User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product & Service
11.3.3. By Technology
11.3.4. By Application
11.3.5. By End User
11.4. Key Takeaways
12. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. United kingdom
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Product & Service
12.2.3. By Technology
12.2.4. By Application
12.2.5. By End User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product & Service
12.3.3. By Technology
12.3.4. By Application
12.3.5. By End User
12.4. Key Takeaways
13. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.1.4. Thailand
13.2.1.5. Singapore
13.2.1.6. Australia
13.2.1.7. Rest of Asia Pacific
13.2.2. By Product & Service
13.2.3. By Technology
13.2.4. By Application
13.2.5. By End User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product & Service
13.3.3. By Technology
13.3.4. By Application
13.3.5. By End User
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of Middle East and Africa
14.2.2. By Product & Service
14.2.3. By Technology
14.2.4. By Application
14.2.5. By End User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product & Service
14.3.3. By Technology
14.3.4. By Application
14.3.5. By End User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Product & Service
15.1.2.2. By Technology
15.1.2.3. By Application
15.1.2.4. By End User
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Product & Service
15.2.2.2. By Technology
15.2.2.3. By Application
15.2.2.4. By End User
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Product & Service
15.3.2.2. By Technology
15.3.2.3. By Application
15.3.2.4. By End User
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Product & Service
15.4.2.2. By Technology
15.4.2.3. By Application
15.4.2.4. By End User
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Product & Service
15.5.2.2. By Technology
15.5.2.3. By Application
15.5.2.4. By End User
15.6. United kingdom
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Product & Service
15.6.2.2. By Technology
15.6.2.3. By Application
15.6.2.4. By End User
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Product & Service
15.7.2.2. By Technology
15.7.2.3. By Application
15.7.2.4. By End User
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Product & Service
15.8.2.2. By Technology
15.8.2.3. By Application
15.8.2.4. By End User
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Product & Service
15.9.2.2. By Technology
15.9.2.3. By Application
15.9.2.4. By End User
15.10. China
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Product & Service
15.10.2.2. By Technology
15.10.2.3. By Application
15.10.2.4. By End User
15.11. Japan
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Product & Service
15.11.2.2. By Technology
15.11.2.3. By Application
15.11.2.4. By End User
15.12. South Korea
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Product & Service
15.12.2.2. By Technology
15.12.2.3. By Application
15.12.2.4. By End User
15.13. Thailand
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Product & Service
15.13.2.2. By Technology
15.13.2.3. By Application
15.13.2.4. By End User
15.14. Singapore
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Product & Service
15.14.2.2. By Technology
15.14.2.3. By Application
15.14.2.4. By End User
15.15. Australia
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Product & Service
15.15.2.2. By Technology
15.15.2.3. By Application
15.15.2.4. By End User
15.16. GCC Countries
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Product & Service
15.16.2.2. By Technology
15.16.2.3. By Application
15.16.2.4. By End User
15.17. South Africa
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Product & Service
15.17.2.2. By Technology
15.17.2.3. By Application
15.17.2.4. By End User
15.18. Israel
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Product & Service
15.18.2.2. By Technology
15.18.2.3. By Application
15.18.2.4. By End User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product & Service
16.3.3. By Technology
16.3.4. By Application
16.3.5. By End User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Abbott Laboratories
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. F. Hoffmann-La Roche Ltd.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. bioMérieux S.A.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Danaher Corporation
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Quidel Corporation
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. QIAGEN N.V.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. Co-Diagnostics, Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Biocartis NV
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Meridian Bioscience, Inc.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Thermo Fisher Scientific
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
Healthcare
July 2022
REP-GB-6717
333 pages
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Point-of-care Molecular Diagnostics Market
