The Point of Care Molecular Diagnostics market, globally valued at USD 883.5 Million in 2020, is projected to reach USD 2,530.4 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 13.9%. Molecular diagnostics at point of care (POC) have been utilized to enhance the accuracy and specificity of rapid tests conducted near patients, thereby expanding diagnostic capabilities in various healthcare settings such as critical care units, physician offices, and outpatient clinics.

 POC molecular testing enables physicians to improve patient outcomes by facilitating accurate diagnosis and treatment. One key technology employed in POC molecular diagnostics is genetic sequencing, which involves targeted analysis and sequencing of mutation-specific genes. Furthermore, next-generation sequencing allows for simultaneous examination of multiple genes and direct clinical testing of exomes, thereby enhancing molecular diagnosis. This technological advancement is expected to drive the growth of molecular diagnostics in the POC market.

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Companies considered and profiled in this market study

Abbott Laboratories (US), Biomerieux (France), Danaher (US), Roche diagnostics (Switzerland), Meridian biosciences (US), Quidel (US), Johnson & Johnson (US), Cepheid(US), Bio-Rad Laboratories(US), Becton(US), Dickinson and Company(US), Alere, Inc(US), Bayer healthcare pharmaceuticals are the key market players of point of care molecular diagnostics market

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Driving Factors of Point of Care Molecular Diagnostics Market:

1. Increasing Demand for Rapid and Accurate Diagnosis: The growing need for timely and accurate diagnostic testing is a major driving factor for the Point of Care Molecular Diagnostics market. Molecular diagnostics at the point of care offer quick and reliable results, allowing healthcare providers to make immediate treatment decisions and improve patient outcomes.
2. Technological Advancements: Continuous advancements in molecular diagnostic technologies, such as genetic sequencing and next-generation sequencing, have significantly improved the performance and accessibility of point-of-care molecular testing. These advancements have made it easier to conduct complex diagnostic procedures at the bedside, enabling faster and more accurate disease diagnosis.
3. Rising Prevalence of Infectious Diseases: The increasing incidence of infectious diseases, such as COVID-19, Zika virus, and Ebola, has created a significant demand for rapid and point-of-care molecular diagnostics. These tests enable early detection and prompt treatment, leading to better management of infectious diseases and prevention of their spread.
4. Growing Focus on Personalized Medicine: Point of care molecular diagnostics plays a crucial role in personalized medicine by providing precise and tailored treatment options based on an individual's genetic makeup. As personalized medicine gains prominence, the demand for molecular diagnostics at the point of care is expected to rise.

Restraints of Point of Care Molecular Diagnostics Market:

1. High Cost: The cost of point-of-care molecular diagnostic tests is often higher compared to traditional diagnostic methods. The high cost can limit their adoption, particularly in resource-limited settings or regions with inadequate healthcare infrastructure.
2. Regulatory Challenges: The development and commercialization of point-of-care molecular diagnostic devices face regulatory challenges. Obtaining regulatory approvals and meeting quality standards can be time-consuming and costly, affecting the market growth and accessibility of these tests.
3. Limited Reimbursement Policies: In some healthcare systems, reimbursement policies for point-of-care molecular diagnostics may be limited or inconsistent. The lack of adequate reimbursement can pose financial barriers for healthcare providers and impede the adoption of these tests.
4. Complexity of Testing Procedures: Molecular diagnostics at the point of care often involve complex testing procedures, which may require skilled personnel and specialized equipment. The complexity can be a challenge, especially in settings with limited technical expertise or infrastructure, hindering widespread implementation.

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Table of Content

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Distribution Channel
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2018 – 2028
Chapter 3. Indicative Metrics
   3.1. Macro-Economic Indicators
         3.1.1. Technological advancements
         3.1.2. High demand for early diagnosis

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