[Latest] Point of Care Molecular Diagnostics Market Size Will Attain USD 22.3 Billion by 2032 Growing at 10.8% CAGR - Exclusive Report by The Brainy Insights

Latest report published by The Brainy Insights provides analysis on point of care molecular diagnostics market size during 2023-2032. The global point of care molecular diagnostics market was valued at USD 8 billion in 2022 and is expected to reach USD 22.3 billion by 2032. Increased government backing and funding for COVID-19-related items are expected to lay the groundwork for a regional point of care molecular diagnostics market.

Newark, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 8 billion point of care molecular diagnostics market will reach USD 22.3 billion by 2032. Point-of-care molecular diagnostic techniques have hastened the diagnosis of cardiovascular disorders, improving patient care in various clinical settings such as clinical research centres, homes, acute care, outpatient clinics, and rural healthcare settings. Physicians in acute care environments such as operating rooms, intensive care units, emergency rooms, or cardiac catheterization suites seek real-time feedback to optimize patient treatment. Healthcare experts in outpatient clinics are looking to replace reactive medicine with preventative approaches incorporating wearables, apps, and mobile technologies as significant components.*Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs - https://www.thebrainyinsights.com/enquiry/sample-request/13689**Key Findings of Point of Care Molecular Diagnostics Market*

*North America to account for the largest market size during the forecast period.*North America is expected to have the essential point of care molecular diagnostics market share. The healthcare system in the United States is established and well-structured. The system also promotes R&D. These policies encourage foreign companies to invest in the United States and the North American market. There has also been a significant increase in new introductions, which has boosted market growth. Siemens, for example, got FDA approval for the RapidPoint 500e blood gas analyzer in April 2020. Such product launch methods assist the corporation in strengthening its portfolio of point-of-care molecular diagnostics products. Many global market participants are present in the North American area. The market is likely to grow further as the presence of global companies in the region matches strong demand.*The oncology segment dominated the market with the most significant revenue of USD 2.8 billion.*The oncology segment dominated the market with the most significant revenue of USD 2.8 billion. Product introductions are propelling the market forward. For example, in May 2020, the US National Library of Medicine (clinicaltrials.gov) conducted a study to see if the results of one of the point-of-care faecal immunochemical testing devices used in the clinical setting are safe and accurate as a ''rule out'' test for colorectal cancer. The Royal Surrey County Hospital NHS Foundation Trust funded the research. Modern point-of-care (POC) diagnostics are based on lateral flow immunoassay technology. Lateral flow immunoassays are instruments that use antibodies to detect the presence of an analyte, such as cancer biomarkers.*The PCR segment dominated the market with the most significant revenue of USD 3.2 billion.*The PCR segment dominated the market with the most significant revenue of USD 3.2 billion. The Polymerase Chain Reaction (PCR) category will dominate the global POC molecular diagnostics market. The expanding usage of RT-PCR in Proteomics and Genomics, as well as the availability of portable, easy-to-use instruments, can be linked to the substantial share of this market. Over 42 RT-PCR-based medicines for various diseases have been launched in the last three years, beginning in 2015.*Directly Purchase a copy of the report with TOC @ https://www.thebrainyinsights.com/buy-now/13689/single**Report Scope**Report Attribute* *Details*
Market Size in 2022 USD 8 Billion
Projected Market Size in 2032 USD 22.3 Billion
CAGR Growth Rate 10.8%
Base Year 2022
Forecast Years 2023-2032
Key Market Players Abbott,Bayer AG,F. Hoffmann-La Roche AG,Nova Biomedical,QIAGEN,Nipro Diagnostics,Danaher,Bio-Rad Laboratories, Inc.,bioMérieux,Agilent Technologies, Inc.,Abaxis,OraSure Technologies
Key Segment Application, Technology
Major Regions Covered The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.

*Market Dynamics:**Drivers: Technical Advancements*Recent breakthroughs in microfluidics and genetic sequencing instruments pave the way for developing cost-effective, highly accurate, and quick diagnostic platforms capable of serving as real point-of-care systems. This critical feature contributes significantly to the well-funded, high-growth potential environment common in the PoC molecular diagnostics industry. Continued R&D, future product commercialization, POC MDx application and usage, market adoption, penetration rates, and revenue flow for these products will all contribute to the market's development and expansion.*Restraint: Shortage Issues*Many manufacturers have refrained from joining the market due to unknown reimbursement conditions. A shortage of high-complexity test centres capable of performing POC molecular testing impedes market growth.*Opportunity: Rising Diabetes Cases*Because of the increased prevalence of diabetes and obesity, the point-of-care testing market for cardiometabolic testing is predicted to exceed USD 5.3 billion by 2027. The cardiometabolic test also determines the percentage level of Docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) in the red blood cell membrane. This also helps to identify new risk factors for cardiac arrest and other heart-related illnesses.*Challenge: Inadequate Reimbursements*Inadequate reimbursements policies are impeding the growth of the global point of care molecular diagnostics market.*Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13689**Some of the major players operating in the point of care molecular diagnostics market are:*● Abbott
● Bayer AG
● F. Hoffmann-La Roche AG
● Nova Biomedical
● QIAGEN
● Nipro Diagnostics
● Danaher
● Bio-Rad Laboratories, Inc.
● bioMérieux
● Agilent Technologies, Inc.
● Abaxis
● OraSure Technologies*Key Segments cover in the market:*By Application:● Infectious Diseases
● Oncology
● Hematology
● Prenatal Testing
● Endocrinology
● OthersBy Technology:● PCR
● Genetic Sequencing
● Hybridization
● Microarray*Request for Customization on this Report as per your requirements - https://www.thebrainyinsights.com/enquiry/request-customization/13689*

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*About the report:*The global point of care molecular diagnostics market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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