The Global Point of Care Molecular Diagnostics Market size was estimated to be US$ 2.1 billion in 2021. The market is expected to grow at a CAGR of 12% through 2032.
Point-of-care (POC) diagnostics offer fast pragmatic statistics for patient care at the moment and place of an appointment with the health care arrangement. POC Molecular testing empowers doctors to enhance the standard of care by blending quick analysis with therapy decisions in the first appointment by the patient instead of hours and days to have the test results. This would help recommend therapy on the first occasion without having to delay the last outcomes.
Moreover, refining information in the understanding of molecular devices in the common plus uncommon diseases and the development of DNA sequencing and examination are some more factors that are anticipated to improve POC molecular diagnostics abilities.
The Global Point of Care Molecular Diagnostics Market size was estimated to be US$ 2.1 billion in 2019, the growth rate is expected to be 11% thorugh 2030. Furthermore, the rising rate of contagious and breathing sicknesses, increasing elderly populace all over the world, escalating demand of home health care services accompanied by innovative products, growing funding from government authorities and private organizations, increasing emphasis on dispersed diagnosis are some of the main factors that are driving the market growth in the evaluation period
The European POC molecular diagnostics market size is projected to register an 8.4 percent CAGR during the evaluation period. The rising occurrence of contagious diseases in the region will boost the demand for advanced POC molecular diagnostic trials. In addition, healthcare authorities are concentrating on precautionary care to decrease infection and fatality rates in Europe, which further propels the demand for PoC molecular tests. As well, labs attributed to European organizations are instructed to accept superior PoC diagnostic tests for precise diagnosis that will increase its demand in that way, stirring the regional development.
Asia Pacific POC molecular diagnostics market held a prominent market income stake in 2019. Increasing patient population suffering from contagious diseases as a result of poor hygiene environments will need instant diagnosis generating demand for PoC molecular diagnostics. Moreover, industry companies and government are initiating numerous drives for growing access to technically superior POC molecular diagnostics. Above stated factors will positively influence the market development in approaching years.
Point of Care Molecular Diagnostics Market Share Analysis, by Geography (2022)
The report titled “Point of Care Molecular Diagnostics Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Point of Care Molecular Diagnostics Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global point-of-care molecular diagnostics market is segregated on the basis of application, technology, test location, end-use, and geography. The application segment is classified into Infectious Diseases, Oncology, Hematology, Prenatal Testing, Endocrinology, and Other Applications. Based on technology the market is segmented into PCR-based, Genetic Sequencing-based, Hybridization-based, and Microarray-based. Depending on the test location the POC molecular diagnostic market is divided into Over the Counter and PoC. Based on end-use segment the market is classified into Decentralized Labs, Hospitals, Homecare, Assisted Living Healthcare Facilities, and Other Uses. Based on geography, the global point of care molecular diagnostics market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, the United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Indonesia, Australia, South Korea, Taiwan, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on POC Molecular diagnostics. Further, market share of prominent companies in the global Point of Care Molecular Diagnostics Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the kaolin companies. The global Point of Care Molecular Diagnostics Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the POC Molecular Diagnostics business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Point of Care Molecular Diagnostics Market.
Major players active in the global point of care molecular diagnostics market are Johnson and Johnson, Abbott Laboratories, F. Hoffmann-La Roche AG, Becton, Dickinson and Company, Danaher Corporation, BioMerieux, Cepheid, Inc., Bio-Rad Laboratories, Inc.,and Bayer Healthcare.
Market Segmentations:
By Application:
By Technology:
By Test Location:
By End Use:
By Geography :
The point of care molecular diagnostics market is estimated to exhibit a CAGR of 12% through 2032.
The point of care molecular diagnostics market size exceeded USD 2.1 Billion in 2021.
The POC molecular diagnostics market size in Europe is anticipated to expand at an estimated 8.4% annual pace throughout the assessment period. The region’s increasing prevalence of infectious diseases will increase the demand for sophisticated POC molecular diagnostic studies.
The rising rate of contagious and breathing sicknesses and increasing elderly populace all over the world are some of the main factors that are driving the market growth in the evaluation period.
Major players operating in the global point of care molecular diagnostics market include Johnson and Johnson, Abbott Laboratories, F. Hoffmann-La Roche AG, Becton, Dickinson and Company, Danaher Corporation, BioMerieux, Cepheid, Inc., Bio-Rad Laboratories, Inc.,and Bayer Healthcare.
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