Australia Point-of-care Molecular Diagnostics Market Size & Outlook
Australia point-of-care molecular diagnostics market, 2018-2030 (US$M)
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Australia point-of-care molecular diagnostics market highlights
- The Australia point-of-care molecular diagnostics market generated a revenue of USD 160.1 million in 2023 and is expected to reach USD 246.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, infectious diseases was the largest revenue generating application in 2023.
- Oncology is the most lucrative application segment registering the fastest growth during the forecast period.
Point-of-care molecular diagnostics market data book summary
| Market revenue in 2023 | USD 160.1 million |
| Market revenue in 2030 | USD 246.2 million |
| Growth rate | 6.3% (CAGR from 2023 to 2030) |
| Largest segment | Infectious diseases |
| Fastest growing segment | Oncology |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oncology, Prenatal Testing, Endocrinology, Other Applications, Hematology, Infectious Diseases |
| Key market players worldwide | Roche, Abbott Laboratories, Qiagen NV, Bayer AG, Nova Biomedical, Danaher Corp, Nipro Corp, Bio-Rad Laboratories Inc, Agilent Technologies Inc, BioMerieux SA, OraSure Technologies Inc, Abaxis |
Other key industry trends
- In terms of revenue, Australia accounted for 3.1% of the global point-of-care molecular diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan point-of-care molecular diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 401.2 million by 2030.
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Point-of-Care Molecular Diagnostics Market Scope
Point-of-Care Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia point-of-care molecular diagnostics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to point-of-care molecular diagnostics market will help companies and investors design strategic landscapes.
Infectious diseases was the largest segment with a revenue share of 93.5% in 2023. Horizon Databook has segmented the Australia point-of-care molecular diagnostics market based on oncology, prenatal testing, endocrinology, other applications, hematology, infectious diseases covering the revenue growth of each sub-segment from 2018 to 2030.
Several developments in the country by key players have contributed to the market growth. For instance, in March 2023, Microbix Biosystems, Inc. announced that it supports the Australian POC testing program for STIs in remote communities across Australia. Similarly, in 2020, ZiP Diagnostics received funding of USD 600,000 as part of the BioMedTech Horizons (BMTH) program’s Round 3, facilitated by MTPConnect.
The funds obtained through this grant were used to develop and commercialize innovative POC test products targeting different diseases, including STIs and SARS-CoV2. Furthermore, as per WHO, the country registered more than 5.8 million confirmed cases of COVID-19 and over 7,200 deaths between January 2020 and May 2022.
The impact of the pandemic was relatively low compared to other nations in Asia Pacific. This low number can be attributed to the largescale testing of individuals across the country. New South Wales had the highest testing rate for COVID19, with over 342,000 tests per 100,000 individuals.
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Target buyers of Australia point-of-care molecular diagnostics market databook
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Our clientele includes a mix of point-of-care molecular diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia point-of-care molecular diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into Australia point-of-care molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia point-of-care molecular diagnostics market size, by application, 2018-2030 (US$M)
Australia Point-of-Care Molecular Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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