PUNE, India, Nov. 05, 2020 (GLOBE NEWSWIRE) -- The Global Point of Care Molecular Diagnostics Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Point of Care Molecular Diagnostics Market size was estimated to be US$ 1.91 billion in 2019 and is expected to reach US$ 6.6 billion by 2030 at a CAGR of 13%. 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 knowledge in the understanding of molecular mechanisms in the common plus uncommon diseases and the development of DNA sequencing and examination are some more factors that are anticipated to augment POC molecular diagnostics abilities.
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The devices that are utilized for point-of-care molecular diagnostics are handy, compact, and self-contained analytical gadgets that can execute several diagnostic tasks. They are used at the patient place for fast identification of illnesses. These devices also deliver valued and actionable info on patient care; they have fast reversal time, and they permit the choice of optimal treatment for the patient by examining the patient’s reaction to ongoing therapy. POC molecular diagnostics have an extensive variety of applications in the identification of genetic testing, pharmacogenetics, and infectious diseases.
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Infectious diseases sub segment will remain leading market share holder in the course of the evaluation period.
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.
Most notable progress on an application basis has taken place in the areas of infectious diseases and oncology PoC molecular tests. The infectious diseases division held the highest income stake in 2018. Some of the factors adding to the income share of infectious diseases for fast molecular diagnostic tests are, they present and aid proper antimicrobial therapy, faster disease management improved distribution of healthcare lab assets, and lessen fatality and expenses.
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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.
In the Europe region, the POC molecular diagnostics market size is projected to observe an 8.4 percent growth rate throughout the assessment timeframe. The growing commonness of contagious illnesses in the region will boost the demand for advanced POC molecular diagnostic trials. Additionally, healthcare administrations are stressing on precautionary care to decrease illness and fatality rates in Europe that further heightens the demand for PoC molecular trials.
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.
Major players active in the global point of care molecular diagnostics market are Johnson and Johnson, Abbott Laboratories, F. Hoffmann-La Roche AG, Dickinson and Company, Danaher Corporation, BioMerieux, Cepheid, Inc., Bio-Rad Laboratories, Inc., Becton, and Bayer Healthcare.
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