Point-of-Care Genetic Testing Market - Forecasts from 2023 to 2028

The point-of-care genetic testing market is estimated to grow at a CAGR of 12.08% during the forecast period.

The point-of-care genetic testing market is rapidly expanding as technological advances bring genetic testing capabilities closer to the patient's point of care. Point-of-care genetic testing is genetic testing that is performed outside of standard laboratory settings, allowing for real-time findings and decision-making. This market category comprises a wide range of testing instruments and kits that allow healthcare practitioners to swiftly analyse genetic data and make educated treatment decisions. The rising desire for personalised treatment, early illness diagnosis, and easier access to genetic testing are propelling the point-of-care genetic testing market forward. Furthermore, developments in portable and handheld testing technologies, as well as lower genetic testing prices, are fuelling market expansion. The point-of-care genetic testing market growth presents significant prospects for revolutionising healthcare delivery, with the ability to enhance patient outcomes and allow personalised treatment methods.

Increasing Demand for Personalized and Precision Medicine in the Point-of-Care Genetic Testing Market.

The rising need for personalised and precise treatment is driving the Point-of-Care Genetic Testing market. Personalised and precision medicine is concerned with personalising medical treatments to individual patients based on genetics, lifestyle, and environmental factors. This method enables more accurate diagnosis, tailored therapy, and better treatment results. As patients and healthcare providers recognise the promise of personalised medicine to deliver more effective and personalised treatment, there is an increasing need for genetic testing technologies that can give rapid and accurate genetic information at the point of care. The ability to collect exact genetic data allows healthcare providers to make educated decisions about treatment strategies, drug selection, and preventative measures, fuelling demand for Point-of-Care Genetic Testing solutions.

Growing Awareness and Understanding of Genetic Diseases Enhances the Point-of-Care Genetic Testing Market.

Growing knowledge and understanding of genetic illnesses is a major driver of growth in the Point-of-Care Genetic Testing industry. Individuals and healthcare professionals are becoming more proactive in discovering and managing genetic diseases as public knowledge of the influence of genetic variants on health grows. Educational tools, public awareness campaigns, and genetic counselling services have all led to a better understanding of hereditary illnesses. Because of this increased knowledge, there is a greater need for Point-of-Care Genetic Testing solutions that can give rapid and accessible genetic information, supporting early diagnosis, personalised treatment regimens, and informed decision-making. The rising emphasis in healthcare on genetic illnesses has resulted in greater use of genetic testing, fuelling the growth of the Point-of-Care Genetic Testing market.

Expansion of Point-of-Care Testing Capabilities Boosts the Point-of-Care Genetic Testing Market.

The expansion of point-of-care testing capabilities is a critical driver of growth in the Point-of-Care Genetic Testing market. Point-of-care testing is the practice of running diagnostic tests close to the patient and delivering instant data that can assist urgent decision-making. The capabilities of point-of-care testing devices have grown as technology has advanced, enabling for more complex genetic testing to be performed at the point of care. This advancement allows healthcare workers to receive real-time genetic information without having to submit samples to centralized laboratories. The availability of portable and handheld diagnostic instruments capable of sophisticated genetic analysis improves convenience, decreases turnaround time, and improves patient results. The increase in point-of-care testing capabilities enables healthcare practitioners to make more prompt and informed decisions, fuelling demand for Point-of-Care Genetic Testing solutions.

North America is the Market Leader in the Point-of-Care Genetic Testing Market.

North America has emerged as the leader in the point-of-care genetic testing market. Several factors contribute to the region's dominant status. North America's healthcare system is technologically sophisticated, there is a high frequency of genetic illnesses, and there is a significant emphasis on personalised therapy. Furthermore, the area benefits from considerable expenditures in R&D, cooperation between healthcare institutions and technology firms, and favourable legislative rules that encourage the use of point-of-care genetic testing. The presence of important market companies, as well as the availability of modern testing machines and kits, contributes to North America's dominance. However, it is vital to note that the point-of-care genetic testing market size is expanding globally, and other areas such as Europe and Asia-Pacific are also seeing substantial breakthroughs in this industry.

Rapid Results and Timely Decision-Making in Point-of-Care Genetic Testing Market.

In the Point-of-Care Genetic Testing business, quick findings and rapid decision-making are critical. Traditional genetic testing sometimes necessitates transferring samples to centralised facilities, which causes delays in getting findings. Point-of-Care Genetic Testing, on the other hand, has the benefit of presenting findings quickly at the patient's location, allowing healthcare practitioners to make prompt choices. This rapid turnaround time enables quicker intervention, personalised treatment strategies, and better patient results. The capacity to acquire genetic information in a timely way improves healthcare delivery efficiency, lowers the time patients spend waiting for findings and allows for fast decision-making on treatment options, preventative measures, and counselling. Rapid findings and rapid decision-making are important motivators for the use of Point-of-Care Genetic Testing technologies in a variety of healthcare settings.n

Key Developments:

• In August 2022,Bio-Rad Laboratories, Inc., a global leader in life science research and clinical diagnostic products, announced that it has agreed to acquire all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A., a Warsaw, Poland-based developer of innovative technology solutions for the medical diagnostic and healthcare markets, for a total consideration of up to $170 million, including approximately $100 million in cash.

Company Products:

• ID NOW™ Molecular Platform:The ID NOW platform offers point-of-care molecular testing. Abbott Laboratories provides a variety of infectious disease diagnostics, including respiratory and gastrointestinal infections. This portable diagnostic gadget generates findings in minutes, allowing for rapid diagnosis and treatment options.
• Cobas® Liat® System:The Cobas Liat System is a small and portable platform that offers point-of-care molecular diagnostics. It provides a wide range of infectious illness tests, including influenza, respiratory syncytial virus (RSV), and Group A Streptococcus. Within 20 minutes, the technology produces trustworthy data, allowing for fast diagnosis and treatment options.
• QIAstat-Dx:The QIAstat-Dx system is a fully integrated molecular diagnostics platform designed for point-of-care testing that is both quick and accurate. It offers several tests for respiratory, gastrointestinal, and other infectious illnesses. The device integrates sample preparation, amplification, and detection in a single cartridge and produces results in less than an hour.
• Cepheid GeneXpert System:The GeneXpert System is a fully integrated molecular diagnostics platform that allows for speedy and precise testing at the point of care. It provides a wide range of infectious disease tests, including respiratory illnesses, sexually transmitted infections, and infections connected with healthcare. The technology automates sample preparation, amplification, and detection and produces findings in hours.

Segmentation:

By Technology

• PCR (Polymerase Chain Reaction)
• Microarray
• Isothermal Amplification
• Next-Generation Sequencing (Ngs)
• Others

By Test Type

• Carrier Testing
• Diagnostic Testing
• Predictive And Presymptomatic Testing
• Prenatal Testing
• Newborn Screening
• Others

By Application

• Cancer Screening
• Genetic Diseases
• Pharmacogenetics
• Personalized Medicine
• Others

By End-User

• Hospitals And Clinics
• Home Care Settings
• Research Institutes
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Taiwan
• Others