Global Molecular Diagnostics Point of Care Market Forecast to 2027
The Global Molecular Diagnostics Point of Care Market research study by Emergen Research is a thorough compendium of analytical data regarding the Molecular Diagnostics Point of Care sector. The Molecular Diagnostics Point of Care Market is segmented in the study, along with a thorough breakdown of the market's size in terms of volume and value. The research includes a detailed prediction for the years 2020–2027 as well as the present Molecular Diagnostics Point of Care Market scenario. The Molecular Diagnostics Point of Care Market research contains a thorough analysis of each industry vertical, segment, end-use industry, application, and region's historical, current, and forecast revenue.
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.
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Competitive Terrain:
The global Molecular Diagnostics Point of Care industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Abbott Laboratories, Bayer Healthcare, Roche Diagnostics, Bio-Rad Laboratories, Danaher Corporation, BioMerieux, Dako, Abaxis Inc., OraSure Technologies Inc., and Nipro Diagnostics, among others
Research Report on the Molecular Diagnostics Point of Care Market Addresses the Following Key Questions:
- Who are the dominant players of the Molecular Diagnostics Point of Care market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Molecular Diagnostics Point of Care market?
- What are the key growth drivers and restraining factors of the Molecular Diagnostics Point of Care market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Molecular Diagnostics Point of Care market and its key segments?
Market Overview:
The report bifurcates the Molecular Diagnostics Point of Care market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- 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
Regional Landscape section of the Molecular Diagnostics Point of Care report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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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
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Molecular Diagnostics Point of Care market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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