29 December 2016 - - The global point of care molecular diagnostics market is anticipated to reach USD 3.9bn by 2024, according to a new report from Dublin-based Research and Markets.

Ongoing research and development to miniaturise molecular diagnostics testing that provides enhanced near patient testing with high accuracy and lesser turnaround times are major factors expected to reinforce the high growth potential for POC MDx products.

A growing demand for CLIA tests that are, by definition, portable and safe enough to be used in non-laboratory settings such as pharmacy clinics, physician offices, and home-care settings, is expected to drive demand in the market over the forecast period.

Ongoing research and development is continually supported and funded by a number of major international entities including the national governments of developed countries and high-value private funding agencies such as the Bill and Melinda Gates Foundation.

Furthermore, a growing portfolio of point-of-care testing capabilities that, had initially been focused on screening, testing, and diagnosis of infectious diseases in low-income developing countries, has been developing at a rapid pace over the past decade to expand its potential market to a broader range of medical faculties.

Consequently, POC and molecular diagnosis tests are available and/or are under development for cardiology monitoring, oncology testing, and hematology testing.