Abbott Laboratories (US), F. Hoffmann-La Roche Ltd. (Switzerland) and bioMérieux SA (France) are the Major Players in the Point of Care Molecular Diagnostics Market
The global point-of-care molecular diagnostics market size is projected to reach USD 3.4 billion by 2028 from USD 2.0 billion in 2023, at a CAGR of 10.6% during the forecast period. Growth in the point-of-care molecular diagnostics industry is mainly driven by factors such as the increasing incidence of infectious diseases and cancer, increasing R&D funding to reduce time required for testing, growing awareness about early diagnosis of testing and technological advancements.
The major players in this market are Abbott Laboratories (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMérieux SA (France), Danaher Corporation (US), QIAGEN N.V. (Netherlands), QuidelOrtho Corporation (US), Co-Diagnostics, Inc. (US), Biocartis NV (Belgium), Meridian Bioscience, Inc. (US), Thermo Fisher Scientific, Inc. (US), Lucira Health, Inc. (US), Cue Health (US), OpGen, Inc. (US), Binx Health, Inc. (US), Molbio Diagnostics Pct. Ltd. (India), Genomadix (Canada), Visby Medical, Inc. (US), QuikPath PTE Ltd. (Singapore), MD-Bio (US), QuantuMDx Group Ltd. (UK), Aidian Oy (Finland), GeneSTAT Molecular Diagnostics, LLC. (US), Labsystems Diagnostics Oy (Finland), Akonni Biosystems (US) and Curetis N.V. (Germany).
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Abbott Laboratories (US) accounted for the largest share of the point-of-care molecular diagnostics market in 2022. The company’s leading position can be attributed to its strong sales and distribution network. The company invests a significant amount of its revenue in R&D. The company also adopts organic growth strategies such as product launches to increase its dominance in this market.
F. Hoffmann-La Roche Ltd. (Switzerland) held the second position in the point-of-care molecular diagnostics market in 2022. The company’s leading position is attributed to its wide product portfolio. Under its flagship brand- cobas- the company offers a wide variety instruments and reagents that are widely used by end users across the globe. The company also has a wide geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia. This enables the company to cater to customers across the globe.
bioMérieux SA (France) accounted for the third-largest share of the point-of-care molecular diagnostics market. The company operates in more than 150 countries across the Americas, Europe, the Middle East and Africa, and the Asia Pacific and has 18 production sites and 20 R&D sites. It has 43 subsidiaries across the globe. The company has a strong product portfolio which has helped it to maintain and enhance its presence in the market.
Related Reports:
Point of Care Molecular Diagnostics Market by Product (Assays, Kits, Instruments, Software), Application (Respiratory Diseases, HAIs, Cancer, STDs, Hepatitis), Technology (RT-PCR, INAAT), End User (Clinics, Hospitals, ICUs) & Region - Global Forecast to 2028
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