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.
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.
The authors of the report have provided Molecular Diagnostics Point of Care industry projections as well as qualitative and quantitative assessments. Some of the most important components of this report are the SWOT analysis and Porter's Five Forces Analysis, which provide insight into the industry's highly competitive environment. The report provides a detailed analysis of the global Molecular Diagnostics Point of Care market, including North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. This report examines other key aspects of regional markets, in addition to revenue growth drivers restraints, production consumption patterns, changing consumer preferences, and stringent regulatory standards.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
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
Target Audience of the Global Molecular Diagnostics Point of Care Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- 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)
Market Segmentations of the Molecular Diagnostics Point of Care Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2027. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Molecular Diagnostics Point of Care market on the basis of product, application, and region:
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
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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 RD to improve MDx POC tests.
- In May 2020, Becton Dickinson to extend the MDx diagnostic acquisition to the points of care
Additional information offered by the report:
- Along with a complete overview of the global Molecular Diagnostics Point of Care market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Molecular Diagnostics Point of Care market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
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