North America Point-of-Care Molecular Diagnostics Market Analysis, Segments, Key Players, Drivers, Trends by Forecast 2022 to 2028

 

Market Introduction

 

North America Point-of-Care Molecular Diagnostics Market Point-of-care molecular diagnostics include portable devices, and assays & kits used to detect and diagnose diseases in human samples, such as throat swab, blood, serum, and stool. Molecular diagnostics are shifting from centralized laboratories to decentralized point-of-care molecular testing. Due to its simplicity, convenience, rapid turnaround time, and potential to improve patient outcomes, POCT is rapidly gaining traction.Moreover, the growing demand for specific viral detection methods that consume less time for timely infection control is expected to bolster the market growth during the forecast period.

North America Point-of-Care Molecular Diagnostics Market The US has the highest number of COVID-19 cases of all countries in North America. This has negatively impacted various industries, and supply and distribution chains in the region. During the pandemic, life science companies shifted their focus in the development of novel drugs for the treatment of life-threatening diseases. In addition, the demand for rapid testing equipment has also increased, which is playing a prominent role in the growth of the North America point-of-care molecular diagnostics market.

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Moreover, continuous spread of COVID-19 is bolstering the demand for point-of-care molecular diagnostic kits. North America Point-of-Care Molecular Diagnostics Market The adoption of these kits is boosting new product developments and launches. In March 2021, Eurofins' Clinical Enterprise, Inc. obtained an Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA) for a direct-to-consumer (DTC) version of its EmpowerDX COVID-19 Home Collection Kit. Similarly, in July 2020, Clinical Diagnostics of Eurofins USA announced the availability of its pooled PCR test to detect SARS-CoV-2, which would substantially lower the cost per PCR test for clients.

Market Overview and Dynamics

North America Point-of-Care Molecular Diagnostics Market The North America Point-of-Care Molecular Diagnostics market is expected to reach US$ 2,110.1 million by 2028 from US$ 860.9 million in 2021. North America Point-of-Care Molecular Diagnostics Market The market is estimated to grow at a CAGR of 13.7% from 2021–2028. The ongoing COVID-19 pandemic has also created opportunities for the manufacturers of POC molecular diagnostic kits for the detection of the novel coronavirus. North America Point-of-Care Molecular Diagnostics Market For instance, ABBOTT, a global healthcare and medical equipment manufacturer, launched ID NOW. It is a molecular point-of-care instrument to detect new coronavirus infection in less than five minutes. ID NOW is a rapid, instrument-based, isothermal technique for detecting infectious illnesses qualitatively.

Its proprietary isothermal nucleic acid amplification product & services generates molecular data in seconds, allowing doctors to make evidence-based treatment decisions during a patient visit. North America Point-of-Care Molecular Diagnostics Market The ID NOW has not been certified or approved by the Food and Drug Administration (FDA). It has been approved by the FDA to use in authorized laboratories and patient care settings under an Emergency Use Authorization (EUA). Such innovations and product developments are expected to provide lucrative opportunities for the growth of the North America point-of-care molecular diagnostics market during the forecast period.

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bioMérieux SA

F. Hoffmann-La Roche Ltd.

Danaher Corporation

Enzo Biochem, Inc.

Abbott

binx health, Inc.

Meridian BioScience, Inc.

Biocartis

Quidel Corporation

Bio-Rad Laboratories, Inc.

Market Drivers

North America Point-of-Care Molecular Diagnostics Market Several key factors contribute to the expansion of the point-of-care molecular diagnostics market in North America. These factors include technological advancements, the growing demand for rapid diagnostics, the rising incidence of infectious diseases, increased healthcare spending, and regulatory support for new diagnostic technologies.

1. North America Point-of-Care Molecular Diagnostics Market Technological Advancements: The integration of advanced technologies such as polymerase chain reaction (PCR), next-generation sequencing (NGS), and isothermal amplification techniques into POC diagnostics has revolutionized the market. These technologies allow for faster, more accurate, and sensitive detection of a range of diseases, making them highly desirable for use in emergency situations or settings where quick diagnosis is critical.

2.Increasing Demand for Rapid Diagnostics: With the rise of pandemics such as COVID-19, there has been an increased demand for rapid diagnostics that can quickly identify infectious agents. POC molecular diagnostics enable near-instant results, which can reduce delays in treatment and improve patient outcomes.

3.Rising Incidence of Infectious Diseases: The growing prevalence of infectious diseases, including respiratory infections, sexually transmitted infections (STIs), and gastrointestinal diseases, has significantly driven the need for molecular diagnostics. The COVID-19 pandemic has heightened the awareness of the importance of timely detection and treatment, propelling the demand for point-of-care testing.

4.Healthcare Spending: Governments and healthcare systems across North America are increasingly investing in healthcare infrastructure and technology, including diagnostics. The push for cost-effective and efficient healthcare services has spurred the demand for POC molecular diagnostics, as they can be more affordable compared to traditional lab-based diagnostic tests when considering the broader healthcare system’s efficiency.

5.Regulatory Support: In North America, the Food and Drug Administration (FDA) and Health Canada have been actively supporting the approval and adoption of innovative molecular diagnostic technologies. North America Point-of-Care Molecular Diagnostics Market Regulatory bodies have streamlined approval processes for POC molecular diagnostic devices, which has encouraged greater innovation and the availability of new products.

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