Asia Pacific Point-of-Care Molecular Diagnostics Market Report 2022: Rising R&D and Innovation in Point-of-Care Molecular Diagnostics Presents Opportunities

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Dublin, Dec. 26, 2022 (GLOBE NEWSWIRE) -- The "Asia Pacific Point-of-Care Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product & Services, Technology, Application, and End User" report has been added to ResearchAndMarkets.com's offering.

According to our new research study on "Asia Pacific Point-of-Care Molecular Diagnostics Market to 2028 - Regional Analysis and Forecast - by Product & Services, Technology, Application, and End User," the market is projected to reach US$ 1,251.67 million by 2028 from US$ 499.19 million in 2021; it is expected to grow at a CAGR of 14.0% from 2022 to 2028.

The growth of the market is primarily attributed to the growing demand for specific viral detection methods that consume less time for timely infection control and rising incidence of infectious diseases. Moreover, rising R&D and innovation in Asia Pacific point-of-care molecular diagnostics are expected to foster the market growth during the forecast period. However, the pricing pressures owing to reimbursement cuts hinder the market growth.

The COVID-19 pandemic has had a significant positive impact on the point-of-care molecular diagnostic market. Amid the pandemic, the increased demand for diagnostic kits for the rapid detection of COVID-19 boosted the adoption of point-of-care testing across the world. The rising number of COVID-19 cases and growing pressure on various governments across the world to improve patient management have boosted the demand for rapid antigen testing kits that can be effectively used in point-of-care settings.

Based on product & services, the Asia Pacific point-of-care molecular diagnostics market is segmented into assays & kits, instruments, and services & software. The assays & kits segment leads the market and is expected to register the highest CAGR during the forecast period.

Based on technology, the Asia Pacific point-of-care molecular diagnostics market is segmented into PCR, isothermal nucleic acid amplification technology (INAAT), and other technologies. The PCR segment leads the market, whereas the isothermal nucleic acid amplification technology (INAAT) segment is expected to register the highest CAGR during the forecast period.

By application, the Asia Pacific point-of-care molecular diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. The infectious diseases segment holds the largest share of the Asia Pacific point-of-care molecular diagnostics market. However, the oncology segment is anticipated to register the highest CAGR in the market during the forecast period.

By end user, the Asia Pacific point-of-care molecular diagnostics market is segmented into hospitals & clinics, diagnostic laboratories, research & academic institutes, and others. The diagnostic laboratories segment leads the market and is estimated to register the highest CAGR in the market during the forecast period.

Point-of-care (POC) molecular tests are accurate and scalable that increase the scope for the diagnosis of diseases, which can be done in the community and outside the laboratory setting. Compared with laboratory testing, point-of-care molecular diagnostics provides various advantages such as fewer clinic visits, shorter hospital stays, better drug therapy optimization, and less inappropriate drug use.

The healthcare sector is undergoing huge transformation due to the emergence of new and effective technologies across the sector. Thus, the growing demand for effective diagnostics that consumes less time than laboratory testing drives the demand for POC molecular assays and kits propelling the growth of Asia Pacific point-of-care molecular diagnostics market over the forecast period.

Market Dynamics

Market Drivers

  • Growing Demand for Specific Viral Detection Methods that Consume Less Time for Timely Infection Control
  • Rising Incidences of Infectious Diseases

Market Restraints

  • Pricing Pressures owing to Reimbursement Cuts

Market Opportunities

  • Rising R&D and Innovation in Point-of-Care Molecular Diagnostics

Future Trends

  • Rising Implementation of Molecular Point-of-Care Diagnostic Devices and Kits across Residential Setting
Report AttributeDetails
No. of Pages208
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$499.19 Million
Forecasted Market Value (USD) by 2028$1251.67 Million
Compound Annual Growth Rate14.0%
Regions CoveredAsia Pacific

Key Topics Covered:

1. Introduction

2. Asia Pacific Point-of-Care Molecular Diagnostics Market - Key Takeaways

3. Research Methodology

4. Point-of-Care Molecular Diagnostics Market- Market Landscape

5. Point-of-Care Molecular Diagnostics Market - Key Market Dynamics

6. Point-of-Care Molecular Diagnostics Market- Asia Pacific Analysis

7. Point-of-Care Molecular Diagnostics Market Analysis and Forecast to 2028 - By Product & Services

8. Point-of-Care Molecular Diagnostics Market Analysis and Forecast to 2028 - By Technology

9. Point-of-Care Molecular Diagnostics Market Analysis - By Application

10. Point-of-Care Molecular Diagnostics Market Analysis and Forecast to 2028 - By End User

11. Asia Pacific Point-of-Care Molecular Diagnostics Market - Geographic Analysis

12. Impact Of COVID-19 Pandemic on Point-of-Care Molecular Diagnostics Market

13. Point-of-Care Molecular Diagnostics Market- Industry Landscape

14. Company Profiles

15. Appendix

Companies Mentioned

  • bioMerieux SA
  • F. Hoffmann-La Roche Ltd.
  • Danaher Corporation
  • Enzo Biochem, Inc.
  • Abbott
  • binx health, Inc.
  • Meridian BioScience, Inc.
  • Biocartis
  • Quidel Corporation
  • Bio-Rad Laboratories, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/egm4eg

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Asian Pacific Point-of-Care Molecular Diagnostics Market

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