The Global Molecular Diagnostics Point of Care Market is projected to reach USD 4.84 billion in 2027. The main factors that are expected to strengthen high growth potential for POC MDx products are continuing research and development to miniaturize tests with molecular diagnostics that enable increased patient testing with higher precision and lower turnaround times.
Increasing demand in non-laboratory environments like pharmacy clinics, doctors, and home care tests, which are, by definition, portable and safe, would likely lead to lower demand on the market over the forecast period. The demand is expected to increase in CLIA tests. A number of large international bodies, including governments of developing countries, actively support and finance continuous research and development.
In addition, a wide variety of point-of-care testing technologies has been evolving rapidly over the previous decade with a view to extending its potential market to a wider range of Medical Faculties, initially focused on the screening, monitoring, and diagnosis of infectious diseases in low income developing countries. Therefore, cardiological monitoring, oncological testing, and hematological testing are now available and/or under development.
Recent developments in microfluidics and genetic sequencing equipment have paved the way for the creation of cost-effective, highly precise, and fast test platforms that can be used as POC systems. This is a major factor that contributes substantially to the well-funded, high growth potential of the PoC molecular diagnostics market.
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Based on the competitive landscape, the market report analyses the key companies operating in the industry:
Abbott Laboratories, Bayer Healthcare, Roche Diagnostics, Bio-Rad Laboratories, Danaher Corporation, BioMerieux, Dako, Abaxis Inc., OraSure Technologies Inc., and Nipro Diagnostics, among others.
The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Molecular Diagnostics Point of Care market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
Further key findings from the report suggest
- POC MDx research is used in the majority of consumer incomes for infectious diseases due to the existence of several big business companies with a wide product selection.
- Another factor accountable for the dominance of this section is the rising burden of infectious disease in developed and developing countries.
- The biggest business segment to produce sales is PCR-based POC studies. The widespread use of PCR-based technology for PCR products for molecular diagnosis and marketing has created plenty of incentives for the growth of the segment.
- North America was the largest region, contributing much of the world’s revenue due to the existence of the highly technical, medical system, government, and private investments in R&D to improve MDx POC tests.
- In May 2020, Becton Dickinson to extend the MDx diagnostic acquisition to the points of care
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For the purpose of this report, Emergen Research has segmented into the global Molecular Diagnostics Point of Care Market on the basis of Test Location, Technology, Application, End-Use, and region:
Test Location Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
-
- Over-the-Counter (OTC)
- PoC
Technology Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
-
- PCR-based
- Genetic Sequencing-based
- Hybridization-based
- Microarray-based
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
-
- Infectious Diseases
- Oncology
- Hematology
- Prenatal Testing
- Endocrinology
- Others
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
-
- Decentralized Labs
- Hospitals
- Homecare
- Assisted Living Healthcare Facilities
- Others
The study segments the Molecular Diagnostics Point of Care industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2020 – 2027 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Molecular Diagnostics Point of Care market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Molecular Diagnostics Point of Care market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Molecular Diagnostics Point of Care market.
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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