Molecular diagnosis is detection of specific sequence of DNA or RNA that may be associated with the disease. Point of care molecular diagnostics help healthcare professionals in the detection of diseases through molecular technologies in point-of-care settings. The global point of care molecular diagnostics market is growing at a significant rate due to the intensifying occurrence of infectious diseases, and increasing focus on decentralized diagnostics. Different types of products and services contributed to the point of care molecular diagnostics market size. The market has witnessed a high demand for assays & kits over the last few years, due to the intensifying occurrence of infectious diseases.

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Mounting penetration of POC molecular diagnostic tests in China, Brazil, and India shifting trend from hospital testing to point of care testing, and increasing R&D activities in molecular diagnostic testing are also fueling the growth of the point of care molecular diagnostics market. Government bodies and private entities provide fund for the development of cost-effective solutions, to satisfy the increasing customer demand. Moreover, increasing demand for fast and portable tests is also driving the growth of the market.

The inadequate reimbursements, long product development time and stringent regulatory requirements for product launch are the major challenges for the growth of point of care molecular diagnostics market.

Geographically, North America is the largest point of care molecular diagnostics market due to the intensifying occurrence of infectious diseases, increasing demand for fast and portable tests, increasing government initiatives, increasing focus on preventive care to reduce the economic burden and increasing number of CLIA product approvals. For instance, according to the Centre for Disease Control and Prevention (CDC) in 2014 approximately 9,421 new cases were diagnosed with tuberculosis.

Asia-Pacific is observed to witness the fastest growth in the market as the region comprises of largest population. In addition, increasing demand for influenza A/B tests and growing initiatives by market players are also creating a positive impact on the point of care molecular diagnostics industry growth in the region.

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Major players in the industry are investing in the development of innovative and advanced products, which is strengthening their position in the market. For instance, in January 2017, Abbott received CE approval for Alinity System for blood and plasma screening. It is designed to screen blood and plasma faster and more efficiently within a smaller footprint. Abbott Laboratories, Danaher Corporation, Biomérieux Sa, Roche Diagnostics, Quidel, Meridian Bioscience, Mesa Biotech, Genepoc, DxNA, Atlas Genetics are some of the key players offering a point of care molecular diagnostics products.

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