Market Research Report
Point of Care Molecular Diagnostics Market Size By Technology, By Infectious Diseases, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025
|Published by||Global Market Insights Inc.||Product code||593174|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Point of Care Molecular Diagnostics Market Size By Technology, By Infectious Diseases, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025|
|Published: August 12, 2019||Content info: 150 Pages||
Point of Care Molecular Diagnostics Market Size By Technology [Polymerase Chain Reaction (Real Time PCR, DNA/RNA Purification), In Situ Hybridization, Chips and Microarrays, Mass Spectrometry, Sequencing, Isothermal Amplification, Others], By Infectious Diseases (MRSA, Clostridium Difficile, Vancomycin-resistant Enterococci, Carbapenem-Resistant Bacteria Testing, Flu, Respiratory Syncytial Virus, Candida, Tuberculosis and Drug-resistant TB, Meningitis, Gastro-intestinal Panel Testing, Chlamydia, Gonorrhea, HIV , Hepatitis C, Hepatitis B, HPV, Syphilis,), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, South Korea, Malaysia, Thailand, Vietnam, Philippines, Australia, Brazil, Argentina, Mexico, South Africa, Nigeria, Egypt, Morocco, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 - 2025.
Point of Care Molecular Diagnostics Market will exceed USD 2.5 billion by 2025; as per a new research report.
Technological advancements in point of care molecular diagnostic tests will surge industry growth in the coming years. Recently introduced tests have rapid turn around time and provide maximum comfort to patients. Moreover, technology integrated in these PoC molecular tests reduce the reliance on presumptive treatment as well as minimizes need for multiple patient visits. Furthermore, now-a-days, most of the PoC rapid diagnostic tests use versatile platform that enhances their preference. Above mentioned factors should positively impact the point of care molecular diagnostics market growth.
Rising incidences of infectious diseases should augment the demand for PoC molecular diagnostic tests. According to CDC, in 2016, incidence of salmonella infections and Lyme diseases was 53,850 and 36,429 respectively in the U.S. alone. Similarly, in developing and underdeveloped economies the incidence of infectious diseases is continuously increasing. This scenario proves beneficial for the industry growth as it increases the demand for efficient PoC molecular diagnostic tests. However, stringent regulatory scenario may affect the industry growth to some extent.
Chips and microarrays segment is expected to witness around 7% growth in the coming years. This technology has seamless applications and has been highly adopted in recent times. It integrates one or several laboratory functions and provides high-throughput screening. Moreover, automation introduced in the microarrays have enabled the healthcare professionals to obtain accurate analysis that will boost their preference stimulating the segmental growth in the coming years.
Flu segment was valued more than USD 150 million in 2018. India and other emerging countries have significant percentage of population suffering from flu. Developing and underdeveloped countries have hygiene issues that makes the population susceptible to flu that spurs the demand for PoC tests. Additionally, rising awareness regarding availability of advanced rapid diagnostic tests for influenza and other infections will further escalate the business growth.
North America point of care molecular diagnostic market held over 41% revenue share in 2018. Considerable regional growth can be attributed to the favorable demographic trends. Increasing geriatric population susceptible to several chronic infections will propel the demand for PoC molecular tests. Furthermore, favorable regulatory scenario for PoC molecular diagnostic tests should elevate the regional growth in the coming years.
Some of the players operating in the PoC molecular diagnostics market are: Abaxis, Roche, Abbott, Danaher, BioMerieux, Sysmex, Bio-Rad Laboratories, OraSure Technologies and Bayer. These industry players adopt certain strategic initiatives such as product launches, mergers and acquisitions for maintaining their market position. For instance, in July 2017, Roche launched first fully automated CE marked cobas 6800/8800 Systems for HIV-1/HIV-2 qualitative diagnostic test. Test offers healthcare specialists to distinguish HIV-1 from HIV-2, that enable providers to enhance treatment options on the basis of infections. Launch of new product will broaden Roche's product portfolio.