The U.S. point-of-care molecular diagnostics market size is estimated to reach USD 3.92 billion by 2030, registering a CAGR of 1.7% over the period, according to a new report by Grand View Research, Inc. The growth of the market is driven by rise in end-user awareness, along with the increased efficiency of the testing methods and favorability for non-laboratory testing. For instance, in the U.S., approximately 1% infants are diagnosed with congenital heart diseases (CHDs) every year. However, advancements in prenatal testing have led to rapid detection of genetic biomarkers in embryos, thus leading to early diagnosis of CHDs and other genetic disorders. Furhtermore, the growth is positively impacted by the county’s patient-centric healthcare services.Get deeper insights, latest developments & key market drivers in the U.S. Point-of-Care Molecular Diagnostics Market
Application Type Insights
PoC molecular diagnostics is used in fertility & pregnancy testing, nephrology, autoimmune disease, and cardiac markers, among others. Despite significant efforts in managing infectious diseases, there is a huge demand for low-cost, accurate, and sensitive POC products. Nanotechnology has found widespread applications in the healthcare industry. Due to the lack of medical intervention needed in these tests, significant growth is anticipated in the other applications segment.
• Fertility & pregnancy testing, nephrology, autoimmune disease, and cardiac markers held the largest market share
Technology Insights
PCR is the foremost and simplest procedure performed before any molecular diagnostic investigation involving genetic material. The increase in applications of POC molecular diagnostics in the fields of pharmacogenomics, drug discovery & development, acquired immunodeficiency syndrome, and cancer research directly boosts the demand for PCR technologies. the growing demand for personalized medicine and expanding applications of genetic sequencing are driving the growth. Furthermore, advancements in sequencing techniques have led to increased adoption in various medical settings, driving market expansion
• The PCR-based segment dominated the market with a largest revenue share
Recent Developments
• In February 2024, BD, a U.S. based medical technology company, announced that they have begun clinical trials for a rapid Point-of Care Molecular Dx instrument and an assay to detect STIs.
• In November 2023, binx health, a healthcare technology and diagnostics company, announced its agreement with Fisher Healthcare, a part of Thermo Fisher Scientific, to expand the nationwide distribution of their molecular POC platform, bimx io, in the U.S.
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Key questions answered in this report
• How big is the market?
• What is the market growth?
• Which segment accounted for the largest market share?
• Who are the key players in the market?
• What are the factors driving the market?