North America Point-of-Care Molecular Testing for Infectious Diseases Market Trends, Size, Segment and Growth by Forecast to 2031

The global North America point-of-care molecular testing for infectious diseases market is expected to reach US$ 44.59 billion in 2031 from US$ 19.21 billion in 2023. The market is estimated to grow with a CAGR of 11.1% from 2023 to 2031.

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The List of Companies - North America Point-of-Care Molecular Testing for Infectious Diseases Market

• Abbott Laboratories
• Agilent Technologies Inc
• Becton Dickinson and Co
• Bio-Rad Laboratories Inc
• Cardinal Health Inc,
• Danaher Corp
• Cue Health Inc,
• QuidelOrtho Corp
• Thermo Fisher Scientific Inc
• F. Hoffmann-La Roche Ltd.

North America Point-of-Care Molecular Testing for Infectious Diseases Market: Growth Strategies and Opportunities

The North America point-of-care molecular testing for infectious diseases market forecast provided in this report assists stakeholders in planning their growth strategies. The rising prevalence of infectious diseases and the growing preference for rapid diagnostic solutions are key drivers of market growth. However, inadequate reimbursement scenarios pose challenges to the expansion of this market.

Market Opportunities in North America

Research and development (R&D) plays a critical role in the pharmaceutical and biopharmaceutical industries, enabling companies to develop innovative products with significant medical and commercial potential. The following table highlights annual funding for various research and disease categories, based on contracts, grants, and other funding mechanisms adopted by the National Institutes of Health (NIH).

In response to the shortage of laboratory capabilities and molecular testing reagents, coupled with the increasing incidence of infectious diseases, diagnostic testing manufacturers are introducing fast and user-friendly devices to facilitate out-of-laboratory testing. Below are some key funding initiatives undertaken by manufacturers in the North America point-of-care testing for infectious diseases market:

• August 2023: The US Department of Health and Human Services (HHS) awarded Cue Health a contract worth approximately $28 million under the Biomedical Advanced Research and Development Authority (BARDA). This funding supports the development of a molecular multiplex test for point-of-care (POC) and over-the-counter (OTC) use, capable of diagnosing COVID-19, respiratory syncytial virus (RSV), and influenza A/B. Cue's test delivers results to linked smart devices in about 25 minutes, simultaneously detecting and differentiating between these infections.

• January 2023: 19 to Zero, a non-profit behavioral sciences initiative, received funding from BD through an educational grant for a point-of-care testing pilot in primary care settings. The grant included the provision of BD Veritor Plus System Analyzers and BD Veritor System for Rapid Detection Assays to facilitate POC diagnostic testing for influenza A/B, RSV, SARS-CoV-2, Group A Strep, and triplex.

• March 2022: The Global Fund to Fight AIDS, Malaria, and Tuberculosis welcomed Canada’s contribution of CAD 60 million (approximately $43.99 million) to its COVID-19 Response Mechanism (C19RM). This funding aimed to support life-saving diagnostic tests, treatments, and personal protective equipment (PPE) in low- and middle-income countries.

• September 2021: The Biden-Harris Administration invested $2.1 billion to enhance infection control and prevention efforts across the US public health and healthcare sectors. This funding, distributed through the CDC, supported state, local, and territorial health departments and partner organizations in addressing infectious diseases.

Regional Overview of the North America Point-of-Care Molecular Testing Market

The US dominates the North America point-of-care molecular testing for infectious diseases market, driven by the increasing prevalence of infectious diseases, a growing geriatric population, and frequent product launches by key players. Aging is a significant risk factor for infectious diseases, as individuals over 60 often have compromised immunity. According to the Population Reference Bureau, the US population aged 65 and above was 55 million in 2020 and is projected to reach 95 million by 2060.

Regulatory agencies in the US, such as the Food and Drug Administration (FDA), play a crucial role in monitoring the development of POC testing products. For example, in March 2021, the FDA authorized the Binx Health IO CT/NG Assay for use in community-based clinics, urgent care settings, and outpatient healthcare facilities. This was the first POC testing product approved for diagnosing chlamydial and gonorrheal infections.

Key Data Sources

The report on the North America point-of-care molecular testing for infectious diseases market relies on primary and secondary sources, including the World Bank Data, National Health Service (NHS), US Department of Health and Human Services (HHS), and the World Health Organization (WHO). These sources provide valuable insights into market trends, regulatory developments, and funding initiatives, enabling stakeholders to make informed decisions.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights