North America to Grab the Lion’s Share of the Point-of-Care Molecular Diagnostics Market

Sun, 03 May 2020 10:26

The point-of-care molecular diagnostics market was valued at USD 1,823.2 million in 2019 and is expected to grow at a CAGR of 7.5% during the forecast period, 2020–2029.

The rising need for faster and accurate results from molecular tests and the increasing number of clinical studies to determine the efficiency and accuracy of novel molecular tests propel market growth.

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Key Insights

  • North America is projected to dominate the point-of-care molecular diagnostic market during the forecast period. The increasing prevalence of chronic diseases and acute disorders, technological advancements, and the presence of well-established healthcare industries drive the regional market.
  • Asia-Pacific’s point-of-care molecular diagnostic market is expected to grow at the highest CAGR due to the increasing number of hospitals and diagnostic laboratories and rising accessibility of healthcare.
  • The test-kits segment is projected to dominate the point-of-care molecular diagnostic market due to the frequent use of test kits for the diagnosis of various diseases.
  • By the end-user, the decentralized laboratories segment is projected to dominate the point-of-care molecular diagnostic market.

Market Drivers

  • Technological advancements, new product development, and increasing demand for point-of-care molecular diagnostic services drive the market.
  • The rising prevalence of infectious diseases and genetic disorders worldwide; as per the World Health Organization (WHO), over 17 million people die due to infectious diseases every year.

Key Players

  • Abaxis
  • Roche
  • Abbott
  • Danaher
  • BioMerieux
  • Sysmex
  • Bio-Rad Laboratories
  • OraSure Technologies
  • Bayer

Recent Developments

  • On February 14, 2019, BioRad Laboratories announced that the QXDx Auto DG ddPCR system received FDA clearance. The product specializes in monitoring a patient’s molecular response to treatment.
  • On April 03, 2017, Roche launched a new product, CobasLiat PCR system, which is used for the sensitive diagnosis of clostridium difficile. The product specializes in delivering accurate and timely diagnosis for infections.

Point-of-Care Molecular Diagnostic Market Segmentation

By Product Type

  • Analyzers
  • Test Kit
  • Bacterial
  • Fungal
  • Viral

By Technology

  • PCR
  • Genetic sequencing
  • Hybridization
  • Micro-array

By End-User

  • Decentralized laboratories
  • Hospital
  • Homecare
  • Assisted living healthcare facilities

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle-East and Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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