The U.S. point-of-care molecular diagnostics market size was estimated at USD 3.35 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 1.7% from 2024 to 2030. The growth of the market is driven by rise in end-user awareness, along with the increased efficiency of the testing methods and favorability for non-laboratory testing. For instance, in the U.S., approximately 1% infants are diagnosed with congenital heart diseases (CHDs) every year. However, advancements in prenatal testing have led to rapid detection of genetic biomarkers in embryos, thus leading to early diagnosis of CHDs and other genetic disorders.
Market Concentration & Characteristics
Degree of Innovation: Market growth stage is low, and pace of market growth is accelerating. The U.S. point-of-care molecular diagnostics market is characterized by a moderate-to-high degree of innovation owing to the advancements in technology, including the introduction of next-generation sequencing (NGS)-friendly applications. Previously, POC testing has seen barriers in NGS testing, and market players as well as academic institutions have focused on relentless research and development efforts to overcome these.
Players in the point-of-care molecular diagnostics market leverage market strategies such as mergers, acquisitions, collaborations, and partnerships to promote reach of their offerings and increase their product capabilities in the region. For instance, in 2022, Bio-Rad Laboratories acquires Curiosity Diagnostics, integrating Curiosity’s rapid PCR system, PCR|ONE, to expand its presence in near-patient molecular diagnostics labs.
Key U.S. Point-of-Care Molecular Diagnostics Company Insights
Some of the key players operating in the U.S. point-of-care molecular diagnostics market include Abbott Laboratories; QIAGEN; F. Hoffman-La Roche Ltd; bioMerieux; and BD. Numerous key players are undertaking strategic initiatives such as expansion, product introductions, mergers, and acquisitions, while also focusing on increasing product reach in the U.S. Several market participants are investing in research and development initiatives, making the market susceptible to further growth.
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Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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In 2016, diabetes caused 1.6 million deaths.
Now, the people suffering from diabetes, cancer, and other chronic ailments such as cardiovascular and respiratory diseases generally lack energy and ability to perform daily tasks and therefore, prefer in-home care, which is creating a myriad of opportunities in the home healthcare market.On the back of incrementing population of geriatrics, who are estimated to reach 1.4 billion by 2030 by the United Nations, the burden on hospital organizations is increasing as well as causing economies a substantial chunk of yearly expenses.
According to a fresh market research report by IndustryARC, the demand in the global home healthcare market will escalate at a healthy rate of 6% to 8% over the course of the next five years, attaining a value of $345 billion by the year 2020.This information is based on a business intelligence report by IndustryARC that includes market growth analysis, competitive landscape, market size and market share with a detailed analysis of products and services associated with the home healthcare market.
The report is titled, “Home Healthcare Market: By Products (Dialysis, Diabetes, Drug Delivery, Essential, Mobility, Respiratory & Others); Services (Rehabilitation, Skilled, Unskilled, Virtual, Hospice, Companion, Social & Others) Forecast (2018-2023).”View Full Table of Contents of Home Healthcare Market:https://www.industryarc.com/Report/102/home-healthcare-products-services-equipment-market.htmlReport Price: US $5250Home Healthcare Market Stroking Demand for In-home Care Products and Services –• Upsurge in Home Healthcare Driving Healthcare Equipment Market Growth –Similar to hospitals, in-home care requires infrastructure and paraphernalia needed to treat a particular condition.
This is especially because unlike in hospital healthcare services, nurses working in home health care communicate less with their superior physicians.
So, nurses in home healthcare services do more paperwork and are more competent and proactive which is also leading to demand of Registered Nurses (RNs), Licensed Practical Nurses (LPN's), and Home Health Aides (HHAs).This happens to be a major factor associated with the competition in this niche, and the healthcare organizations that provide better services will have more market share.It is also a major factor responsible for the overall cost of home healthcare services, which is being detrimental to the home healthcare market growth in countries with poor economies like the ones in Africa.• The Growing Population of Aged People Influencing Home Healthcare Market –United Nations predicts that the population of people beyond 60 years of age will be double from 2015 to 2050, and the population was already 962 million globally in 2017.