North America Point-of-Care Molecular Diagnostics Market

Market Introduction

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.

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. Moreover, continuous spread of COVID-19 is bolstering the demand for point-of-care molecular diagnostic kits. 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

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. 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. 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. 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.

Key Market Segments

In terms of product & services, the assays and kits segment accounted for the largest share of the North America Point-of-Care Molecular Diagnostics market in 2020. In terms of technology, the PCR segment accounted for the largest share of the North America Point-of-Care Molecular Diagnostics market in 2020. In terms of application, the infectious diseases segment accounted for the largest share of the North America Point-of-Care Molecular Diagnostics market in 2020. In terms of end user, the diagnostic laboratories segment accounted for the largest share of the North America Point-of-Care Molecular Diagnostics market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Point-of-Care Molecular Diagnostics market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are bioMérieux SA, F. Hoffmann-La Roche Ltd., Danaher Corporation, Enzo Biochem, Inc., Abbott, binx health, Inc., Meridian BioScience, Inc., Biocartis, Quidel Corporation, and Bio-Rad Laboratories, Inc.

Reasons to Buy Report

• To understand the North America Point-of-Care Molecular Diagnostics market landscape and identify market segments that are likely to guarantee a strong return
• To comprehend the ever-changing market landscape and stay ahead in competition
• To efficiently plan merger and acquisition, and partnership deals in the North America Point-of-Care Molecular Diagnostics market by identifying segments with the most promising probable sales
• To make knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments
• To obtain market revenue forecast of the North America Point-of-Care Molecular Diagnostics market based on various segments for the period 2021–2028

NORTH AMERICA POINT-OF-CARE MOLECULAR DIAGNOSTICS MARKET SEGMENTATION

By Product & Services

• Assays and Kits
• Instruments
• Services and Software

By Technology

• PCR
• Isothermal Nucleic Acid Amplification Technology (INAAT)
• Other Technologies

By Application

• Infectious Diseases
• Oncology
• Hematology
• Prenatal Testing
• Endocrinology
• Other Applications

By End User

• Hospitals and Clinics
• Diagnostic Laboratories
• Research and Academic Institutes
• Others

By Country

• North America
  • US
  • Canada
  • Mexico

Companies Mentioned

1. bioMérieux SA
2. F. Hoffmann-La Roche Ltd.
3. Danaher Corporation
4. Enzo Biochem, Inc.
5. Abbott
6. binx health, Inc.
7. Meridian BioScience, Inc.
8. Biocartis
9. Quidel Corporation
10. Bio-Rad Laboratories, Inc.

North America Point-of-Care Molecular Diagnostics Strategic Insights

Strategic insights for the North America Point-of-Care Molecular Diagnostics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Point-of-Care Molecular Diagnostics Report Scope

North America Point-of-Care Molecular Diagnostics Regional Insights

The geographic scope of the North America Point-of-Care Molecular Diagnostics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.