U.S. Point-of-Care Molecular Diagnostics: Adoption Trends, Regulatory Landscape, Market Potential
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. For More Details or Sample Copy please visit link @:U.S. Point-of-Care Molecular Diagnostics Market