Report : North America Point-of-Care Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product & Services (Assays and Kits, Instruments, and Services and Software), Technology (PCR, Isothermal Nucleic Acid Amplification Technology (INAAT), and Other Technologies), Application (Infectious Diseases, Oncology, Hematology, Prenatal Testing, Endocrinology, and Other Applications), End User (Hospitals and Clinics, Diagnostic Laboratories, Research and Academic Institutes, and Others)
Assays and Kits Segment has the Largest Share of Product & Services in the North America Point-of-Care Molecular Diagnostics Market during 2021–2028
According to our latest study on “North America Point-of-Care Molecular Diagnostics Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product & Services, Technology, Application, and End User,” the market is projected to reach US$ 2,110.1 million by 2028 from US$ 860.9 million in 2021; it is expected to grow at a CAGR of 13.7% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising incidences of infectious diseases and growing demand for specific viral detection methods that consume less time for timely infection control. However, pricing pressures owing to reimbursement cuts is likely to hamper market growth.
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.
Based on product & services, the North America Point-of-Care Molecular Diagnostics market is bifurcated into assays and kits, instruments, and services and software. In 2020, the assays and kits segment are estimated to account for the largest market share in the North America point-of-care molecular diagnostics market. POC molecular diagnostic assays and kits are specially designed for point of care such as hospital critical care units, physician offices, outpatient clinics, and community health posts. POC molecular diagnostics assays and kits enable the early diagnosis of infectious diseases, cancer, and women’s health and sexual health conditions among others.
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. are among the leading companies in the North America Point-of-Care Molecular Diagnostics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for Point-of-Care Molecular Diagnostics market is segmented into product & services, technology, application, and end user. Based on product & services, the North America Point-of-Care Molecular Diagnostics market is segmented into assays and kits, instruments, and services and software. Based on technology, the Point-of-Care Molecular Diagnostics market is segmented into PCR, isothermal nucleic acid amplification technology (INAAT), and other technologies. Based on application, the Point-of-Care Molecular Diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. Based on end user, the Point-of-Care Molecular Diagnostics market is segmented into hospitals and clinics, diagnostic laboratories, research and academic institutes, and others. Geographically, the Point-of-Care Molecular Diagnostics market is segmented into North America (US, Canada, Mexico).
The report segments North America Point-of-Care Molecular Diagnostics market as follows:
The North America Point-of-Care Molecular Diagnostics market is segmented on the basis on ingredient type and sources. Based on ingredient type, the North America Point-of-Care Molecular Diagnostics market is segmented into Probiotics and prebiotics, omega-3 fatty acids, vitamins, carotenoids and antioxidants, plant extracts, minerals, amino acids, proteins and peptides, and others. Based on sources, the market is segmented into plant animal, and microbial.
- Rest of North America
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