Molecular point of care testing (using NAAT) has been popular due to the growth of technologies to perform laboratory testing whenever required. It has generated unique opportunities to improve patient outcomes and upsurge the operational efficiency of clinical services. Therefore, the global molecular point of care testing (using NAAT) market is estimated to increase rapidly in the near future.
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Data Bridge Market Research analyses that the molecular point of care testing (using NAAT) market is expected to reach USD 62,553.67 million by 2028 from USD 25,170.05 million in 2020, growing with a CAGR of 10.8% in the forecast period of 2021 to 2028.The high adoption of molecular point of care testing is projected to propel the growth of the market because this food service packaging maintain the freshness of the product and prevents the food from biological contamination or exposure to chemical
Increase in the Prevalence of Chronic Diseases is expected to drive the market's growth rate
It is a general point that health degeneration starts with a rise in age. As the chronic and infectious disease rate grows with time, the factors associated with the disease rates also increase. The large number of obese or overweight population also has augmented the dominance of chronic diseases in several regions all over the globe. The increase in the number of chronic diseases has led people to choose NAAT-based point-of-care and other products for testing. Thus, this will drive the molecular point of care testing (using NAAT) market growth rate in upcoming years.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Instruments and Consumables & Reagents), Indication (Respiratory Infections Testing, Sexually Transmitted Infection (STI) Testing, Gastrointestinal Tract Infections Testing, and Others), End User (Laboratories, Hospitals, Clinics, Ambulatory Centers, Homecare, Assisted Living Facilities, and Others), Mode of Testing (Prescription-Based Testing and OTC Testing), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Abbott Laboratories (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific, Inc. (U.S.), Danaher Corporation (U.S.), Meridian Bioscience, Inc. (U.S.), QuantuMDx Group Ltd. (U.K.), Binx Health, Inc. (U.S.), Lucira Health, Inc. (U.S.), bioMérieux SA (France), Quidel Corporation (U.S.), QIAGEN N.V. (Netherlands), Co-Diagnostics, Inc. (U.S.), SD Biosensor (South Korea), Cepheid (U.S.). Sysmex Corporation (Japan), Bio-Rad Laboratories, Inc. (U.S.), Sekisui Diagnostic (U.S.), Randox Laboratories Ltd. (U.K.), GenMark Diagnostics (U.S.), Grifols S.A., Wondfo, Oxford Nanopore Diagnostic (U.K.), PerkinElmer Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The molecular point of care testing (using NAAT) market is segmented on the basis of product, indication, end user, mode of testing and distribution channel.
- On the basis of product, the global molecular point of care testing (using NAAT) market is segmented into instruments, consumables and reagents. In 2021, consumables and reagents segment is expected to dominate the global molecular point of care testing (using NAAT) with 77.09% market share because the consumables and reagents are highly efficient in usage and robust in storage.
- On the basis of indication, the global molecular point of care testing (using NAAT) market is segmented into sexually transmitted infection (STI) testing, respiratory infection testing, gastrointestinal tract infection testing, and other.
In 2021, the respiratory infection testing segment of indication segment is anticipated to dominate the molecular point of care testing (using NAAT) market
Respiratory infection testing segment is expected to dominate the global molecular point of care testing (using NAAT) with 60.78% market share as it reduces health care costs of pediatric patients with respiratory infections and also helps to reduce intravenous antibiotic use in the developing countries.
- On the basis of end user, the global molecular point of care testing (using NAAT) market is segmented into laboratories, hospitals clinics, ambulatory centers, home care, assisted living facilities and others. In 2021, laboratories segment in molecular point of care testing (using NAAT) market is expected to dominate the global molecular point of care testing (using NAAT) with 71.65% market share.
- On the basis of mode of testing, the global molecular point of care testing (using NAAT) market is segmented into prescription-based testing and OTC testing.
In 2021, the prescription-based test segment is projected to hold the largest share mode of testing segment in the molecular point of care testing (using NAAT) market
Prescription-based test segment in global molecular point of care testing (using NAAT) market is expected to dominate the global molecular point of care testing (using NAAT) with 93.42% market share because it takes the molecular point of care testing process to a new level such as home collection and pool testing.
On the basis of the distribution channel, the global molecular point of care testing (using NAAT) market is segmented into direct sales, third party distributor and online sales. In 2021, direct sales segment in global molecular point of care testing (using NAAT) market is expected to dominate the global molecular point of care testing (using NAAT) with 12.10% market share.
Major Players
Data Bridge Market Research recognizes the following companies as the major molecular point of care testing (using NAAT) market players in molecular point of care testing (using NAAT) market Abbott Laboratories (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific, Inc. (U.S.), Danaher Corporation (U.S.), Meridian Bioscience, Inc. (U.S.), QuantuMDx Group Ltd. (U.K.), Binx Health, Inc. (U.S.), Lucira Health, Inc. (U.S.), bioMérieux SA (France),
Market Development
- In June 2020, Johnson & Johnson Services, Inc. announced its collaboration in Sub-Saharan Africa including Nigeria, Kenya, Uganda, Ethiopia and Egypt, among others to offer training for healthcare workers. The aim of this collaboration is to reach 600,000 healthcare workers, including doctors, nurses, and midwives.
- In November 2021, Roche is one of the top three sustainable healthcare companies in the Dow Jones Sustainability Indices for the 13th year F.Hoffmann-La Roche Ltd announced this. This increased the business expansion and business doing capacity in the forecast period
- In October 2021, Thermo Fisher Scientific Corporation gotten approval for the TaqMan COVId-19 test SARS-COV molecular Assay by FDA. This contributed to the company revenue growth and increased the product portfolio of the company in the forecast period
Regional Analysis
Geographically, the countries covered in the molecular point of care testing (using NAAT) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in molecular point of care testing (using NAAT) market during the forecast period 2022 - 2029
In 2022, North America dominated the molecular point of care testing (using NAAT) market due to the rapidly growing COVID-19 cases in the U.S. and Canada. Moreover, the increasing prevalence of chronic and infectious diseases and the adoption of point-of-care testing in hospitals infrastructure is expected further to enhance the market's growth rate in this region.
Asia-Pacific is estimated to be the fastest growing region in molecular point of care testing (using NAAT) market the forecast period 2022 - 2029
Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to increase in the adoption of miniaturized models and higher and measures prevalence of chronic and targeted diseases. Furthermore, growing healthcare infrastructure is expected propel the market's growth rate in this region.
COVID-19 Impact Analysis
The outbreak of COVID-19 pandemic outbreak has positively impacted the growth of the molecular point of care testing (using NAAT) market due to their high requirement, mainly in several hospitals. COVID-19 has positively affected the demand and price of molecular point of care testing (using NAAT) products at an advanced level because of technological advancement and progressive online sales in the products. Utmost priority in most hospitals was given to COVID-19 treatments as the cases of COVID-19 were high, increasing the use of molecular point of care testing (using NAAT). Furthermore, several healthcare organizations and international governments have supported the supply of these products due to their high priority in critical cases.
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