Point-Of-Care Molecular Diagnostics Market Insights on Emerging Scope Prophesy

Posted by Ganesh Shinde on December 28th, 2022

Per the point-of-care molecular diagnostics market survey by Future Market Insights (FMI), the market is forecasted to move forward at an average pace and register a CAGR of 8% from 2022 to 2032.

Many current POC diagnostics are based on lateral flow immunoassay technology, and these instruments use antibodies to detect the presence of an analyte, such as cancer biomarkers, in a short period and thus, having the effect of spurring the point-of-care molecular diagnostics market growth to a large extent.

As per the point-of-care molecular diagnostics market report, the demand for point-of-care molecular diagnostics is on a surge owing to the growing trend toward preventive medicine. This is considered to shape the point-of-care molecular diagnostics future trends to a large extent.

According to United Nations data, the number of older adults has steadily increased for decades. As a result of this demographic shift, the prevalence of various chronic diseases is rising, thereby facilitating the adoption of point-of-care molecular diagnostics devices.

The study finds that current cancer diagnostic methods are invasive (for example, cystoscopy, which involves inserting a hollow tube/cystoscope installed with a lens into the urethra and bladder to diagnose cancer). However, less invasive methods, such as point-of-care molecular tests, can be available for point-of-care cancer diagnostics, broadening the point-of-care molecular diagnostics opportunities.

Read More@ https://www.futuremarketinsights.com/reports/point-of-care-molecular-diagnostics-market

Though most of the industries’ overall sales of molecular diagnostics dwindled steeply due to the COVID-19 pandemic and the use of molecular diagnostic methods for COVID-19 testing, it had a positive impact on the point-of-care molecular diagnostics market size.

As countries gradually slacken their restrictions on movement, there is a resurgence in testing numbers. Aside from vaccines and therapeutic drugs, there is an increasing demand for the development of more precise and simple testing technologies and the expansion of testing structures.

Thus, point-of-care molecular diagnostics companies have made strategic decisions to introduce POC rapid tests, maintain revenue, and mitigate COVID-19’s impact on their operational capabilities. This point-of-care molecular diagnostics market trend is expected to continue in the coming years.

Aside from cancer in the elderly, respiratory diseases in children and adults are becoming one of the top five causes of death. However, as per Pfizer, there are currently no RSV immunization options available, although many vaccines are still in clinical trials.

People are dying due to this since they are unaware of the available treatment. Thus, the prevalence of point-of-care molecular diagnostic tests plays a vital role in quick analysis and, as a result, in providing patients with immediate treatment.

The point-of-care molecular diagnostics market is predicted to muster a total revenue of around US$ 4 Bn by 2026 on account of the abovementioned factors.

Key Players in the Point-Of-Care Molecular Diagnostics Market are:

Danaher Corporation (US), Alere Inc. (US), Quidel Corporation (US), Biocartis Group NV (Belgium), bioMérieux SA (France), Thermo Fisher Scientific (US), Mesa Biotech Inc. (US), F. Hoffmann-La Roche Ltd., and Meridian Bioscience Inc. (US) are the critical point-of-care diagnostic companies profiled in the global POC molecular diagnostics market.