Molecular Diagnostics Point of Care Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast
In 2027, it is anticipated that the global market for molecular diagnostics at the point of care would grow to $4.84 billion. Continued research and development to miniaturise tests with molecular diagnostics that enable more patient testing with higher precision and quicker turnaround times are the primary reasons that are anticipated to strengthen the high growth potential for POC MDx products.
Over the predicted period, rising need in non-laboratory settings such pharmacy clinics, medical offices, and home care tests—which are, by definition, portable and safe—would probably result in lower market demand. CLIA tests are anticipated to see a rise in demand. Governments of developing nations and a handful of other sizable international organisations actively promote and finance ongoing research and development.
Additionally, over the past ten years, a wide range of point-of-care testing technologies have developed quickly with the aim of expanding their potential market to a wider range of medical faculties. These technologies were initially concentrated on the screening, monitoring, and diagnosis of infectious diseases in low-income developing countries. As a result, haematological testing, oncological testing, and cardiological monitoring are now offered or being developed.
Recent advancements in genetic sequencing and microfluidics technology have paved the way for the development of low-cost, extremely accurate, and quick test platforms that can be employed as POC systems. This is a significant aspect that adds significantly to the PoC molecular diagnostics market’s well-funded, high growth potential.
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Key Highlights of Report
Due to the existence of numerous large corporations with a diverse product offering, POC MDx research is utilised in the majority of consumer incomes for infectious diseases.
The increased incidence of infectious diseases in both developed and emerging nations is another reason for this section’s predominance.
PCR-based POC studies are the industry segment that generates the most sales. There are several reasons for the category to increase thanks to the widespread usage of PCR-based technology for PCR products for molecular diagnosis and marketing.
The most developed medical system in the world, as well as public and private efforts in R&D to advance MDx POC testing, made North America the greatest region in terms of revenue generation.
Becton Dickinson will expand the MDx diagnostic acquisition to the sites of care starting in May 2020.
Abbott Laboratories, Bayer Healthcare, Roche Diagnostics, Bio-Rad Laboratories, Danaher Corporation, BioMerieux, Dako, Abaxis Inc., OraSure Technologies Inc., and Nipro Diagnostics are a few of the major competitors in the market.
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)
Technology Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Genetic Sequencing-based
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Infectious Diseases
- Prenatal Testing
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Decentralized Labs
- Assisted Living Healthcare Facilities
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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