Global Point of Care Molecular Diagnostics Market, By Product (Assays & Kits, Instruments/Analyzers, Services & Software), Application (Respiratory Diseases, Sexually Transmitted Diseases, Hospital-acquired Infection, Oncology, Hepatitis, Others), Technology (Polymerase Chain Reaction, In-Situ Hybridization, Chips and Microarrays, Mass Spectrometry, Sequencing, Isothermal Amplification, Others), End-User (Physician Offices, Hospitals, Research Institutes, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)– Industry Trends & Forecast to 2025
Market Analysis: Global Point of Care Molecular Diagnostics Market
The Global Point of Care Molecular Diagnostics Market is estimated to rise from the value of USD 627.6 million in 2017 to an estimated value of USD 1933.2 million by 2025, registering a CAGR of 15.1% during the forecast period of 2018-2025. This growth can be attributed to the rising cases of infectious diseases, and the growing demand for approved Point of Care Molecular Diagnostic tests.
Market Definition: Global Point of Care Molecular Diagnostics Market
Point of Care Molecular Diagnostics is diagnostic equipment which is used to determine the cause of infectious disease causing agents. These machines/equipments help determine the accurate cause of these diseases in a timely manner, which is of utmost importance when dealing with these kind of diseases and also to implement the correct course of action.
The advancements and developments in the diagnostics market is attributed to the fact that the healthcare industry is focusing on detection and diagnosis in place of pharmaceuticals and medicines, to prevent the development of the diseases. This trend has directly affected the market growth and is helping the market to grow significantly.
North America had the highest revenue share of around 40% of the market.
- Increasing cases of infectious diseases causing the health professionals to determine the infections and its causes accurately in a timely manner, thereby increasing the demand for Point of Care Molecular Diagnostics Market.
- Increased demand for regulatory approved molecular tests driving the market
- Approval by the authorities is a time-consuming process and therefore the innovation programs suffer because of these long term regulations
- Research and development of these devices is very extensive and hugely resource consuming which is one of the major factors for the restraining of market expansion
Segmentation: Global Point of Care Molecular Diagnostics Market
- By Product
- Assays & Kits
- Services & Software
- By Application
- Respiratory Diseases
- Sexually Transmitted Diseases
- Hospital-acquired Infection
- By Technology
- Polymerase Chain Reaction
- Real Time Polymerase Chain Reaction
- DNA/RNA Purification
- In-Situ Hybridization
- Chips and Microarrays
- Mass Spectrometry
- Isothermal Amplification
- Polymerase Chain Reaction
- By End-User
- Physician Offices
- Research Institutes
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market: Global Point of Care Molecular Diagnostics Market
- In October 2017, Abbott completed the acquisition of Alere, for USD 5.9 billion. Alere was a global leader in diagnostics market and the acquisition helps Abbott grow its market share.
- In July 2017, Agilent Technologies announced the acquisition of Population Genetics’ molecular and sample barcoding patent portfolios which help improve the accuracy of next generation sequencing (NGS). These help in the diagnostics of cancer.
Competitive Analysis: Global Point of Care Molecular Diagnostics Market
The Global Point of Care Molecular Diagnostics Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Point of Care Molecular Diagnostics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Point of Care Molecular Diagnostics Market
Few of the major competitors currently working on the Point of Care Molecular Diagnostics Market are Agilent Technologies Inc., Abbott, F. Hoffmann-La Roche Ltd., Illumina Inc., Hologic Inc., QIAGEN, Myriad Genetics, Cepheid, Genomic Health, GenePOC Inc., DxNA LLC., Binx Health Inc., Spartan Bioscience Inc., Biocartis, Beckman Coulter Inc., Johnson & Johnson Services Inc., Medtronic, Siemens Healthcare GmbH, Grifols S.A., Abaxis, Bayer AG, bioMérieux SA, Bio-Rad Laboratories Inc., Danaher, OraSure Technologies Inc., BD, Sysmex Corporation, Quidel Corporation, and Meridian Bioscience Inc.
Key Insights in the report:
- The key market players are analyzed and their effects on the market is also observed
- Market analysis is conducted for the forecast period of 2018 to 2025, and the market segmentations are observed during that period
- The market drivers and restraints have been clearly analyzed for the effect that they have over the market in the forecast period of 2018 to 2025