Global Molecular Diagnostics Point of Care Market

Report ID : 1423 | Published : 2022-10-29 | Pages: 188 | Format: PDF/EXCEL

The market size of the global molecular diagnostics point of care market in the year 2021 is valued at 2.51 billion and is predicted to reach 5.74 billion by the year 2030 at an 9.79% CAGR during the forecast period.

Medical professionals use tests known as molecular diagnostics point of care to identify and diagnose infectious disorders. Hematology, fertility, infectious diseases, pregnancy, urinalysis testing kits, and glucose and cardiometabolic monitoring equipment are all included. In addition to monitoring hemoglobin and fecal occult blood, molecular diagnostics point of care is frequently used to identify infectious agents, gastrointestinal diseases, and minimal residual disease and to assess a patient's capacity to metabolize a given medicine or class of drugs. These tests provide quicker answers, lessen difficulties brought on by improper care, and enhance infection prevention techniques. The global spread of infectious diseases is expanding, which is good news for the market. Another element driving expansion is the increasing need for PCR test kits to properly manage and control the spread of COVID-19. Additionally, the development of user-friendly, low-cost, and highly sensitive molecular diagnostic tests using downsizing, nanotechnology, and microfluidics is accelerating the market's expansion.

Moreover, numerous government initiatives to enhance molecular diagnostic capabilities and healthcare infrastructure favourably affect market growth. In addition, the market is anticipated to grow due to recent breakthroughs in cloud-connected POC diagnostic technologies, rapid progress in deoxyribonucleic acid (DNA) sequencing, and growing public awareness of advanced therapeutic and diagnostic testing.

Market Segmentation:

The molecular diagnostics point-of-care market is segmented on test location, technology, application and end-use. Based on test location, the market is segmented into over-the-counter (OTC) and PoC. Based on the technology, the market is categorized into PCR-based, genetic sequencing-based, hybridization-based and microarray-based. Based on the application, the market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology and others. Based on end-use, the market is categorized into decentralized labs, hospitals, homecare and assisted living healthcare facilities and others.

Based on test location, the over-the-counter (OTC) category is accounted as a major contributor to the molecular diagnostics point-of-care market.

The over-the-counter (OTC) category dominated the market in 2021. Compared to POC testing, OTC tests are more adaptable and portable when used in homes and supportive living institutions. In most instances, patients and unqualified personnel make up the majority of OTC users. Additionally, a few of these test instruments are exempt from CLIA, allowing users to utilize them in settings other than laboratories. OTC tests are anticipated to generate more money during the forecasted period due to their simplicity, usefulness, and higher acceptance rate.

The PCR-based category witnessed growth at a rapid rate.

The PCR-based category dominated the market in 2021. The commercialization of PoC tests, which provide quick real-time PCR analysis with excellent precision for infectious illnesses like H1N1 and influenza, is driving the market. NGS-based molecular testing close to the patient is anticipated to increase significantly during the projected period due to numerous industry breakthroughs. This part is expected to be successful because of cutting-edge technological advancements that enable accurate genetic testing and quick diagnosis at the treatment site. Quick DNA analysis is anticipated to have significant expansion in the following years due to key industry competitors' ongoing development and R&D.

The North American molecular diagnostics point-of-care market holds a significant revenue share in the region.

The North American molecular diagnostics point-of-care market is expected to register the highest market share in revenue in the near future. The rising incidence of infectious diseases, increasing CLIA product approvals, and expanding legislative measures are driving this market's expansion in North America. The ongoing efforts of major market players to strengthen their position are a crucial contributing factor. Several clinical trials will contribute to market growth throughout the projection period due to the diversity and precision of contemporary molecular tests. In addition, Asia Pacific is projected to grow rapidly in the global molecular diagnostics point-of-care market. The Asia Pacific molecular diagnostics point-of-care market is driven by factors including the aging population's increased prevalence of chronic diseases, a lack of highly developed central laboratory testing services, the growth of major market players in this region, and the potential cost-effectiveness of molecular diagnostics point-of-care.

Competitive Landscape

The key players in the molecular diagnostics point-of-care market are Abbott Laboratories, Bayer Healthcare, Roche Diagnostics, Bio-Rad Laboratories, Danaher Corporation, BioMerieux, Dako, Abaxis Inc., OraSure Technologies Inc. and Nipro Diagnostics.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Molecular Diagnostics Point of Care Market Snapshot

Chapter 4. Global Molecular Diagnostics Point of Care Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Test Location Estimates & Trend Analysis

5.1. by Test Location & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Test Location:

5.2.1. Over-the-Counter (OTC)

5.2.2. PoC

Chapter 6. Market Segmentation 2: by Technology Estimates & Trend Analysis

6.1. by Technology & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Technology:

6.2.1. PCR-based

6.2.2. Genetic Sequencing-based

6.2.3. Hybridization-based

6.2.4. Microarray-based

Chapter 7. Market Segmentation 3: by Application Estimates & Trend Analysis

7.1. by Application & Market Share, 2019 & 2030

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Application:

7.2.1. Infectious Diseases

7.2.2. Oncology

7.2.3. Hematology

7.2.4. Prenatal Testing

7.2.5. Endocrinology

7.2.6. Others

Chapter 8. Market Segmentation 4: by End-use Estimates & Trend Analysis

8.1. by End-use & Market Share, 2019 & 2030

8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by End-use:

8.2.1. Decentralized Labs

8.2.2. Hospitals

8.2.3. Homecare

8.2.4. Assisted Living Healthcare Facilities

8.2.5. Others

Chapter 9. Molecular Diagnostics Point of Care Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Molecular Diagnostics Point of Care Market Revenue (US$ Million) Estimates and Forecasts by Test Location, 2022-2030

9.1.2. North America Molecular Diagnostics Point of Care Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2022-2030

9.1.3. North America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2022-2030

9.1.4. North America Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2022-2030

9.1.5. North America Molecular Diagnostics Point of Care Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

9.2. Europe

9.2.1. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2022-2030

9.2.2. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2022-2030

9.2.3. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2022-2030

9.2.4. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2022-2030

9.2.5. Europe Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2022-2030

9.3. Asia Pacific

9.3.1. Asia Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2022-2030

9.3.2. Asia Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2022-2030

9.3.3. Asia-Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2022-2030

9.3.4. Asia-Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2022-2030

9.3.5. Asia Pacific Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2022-2030

9.4. Latin America

9.4.1. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2022-2030

9.4.2. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2022-2030

9.4.3. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2022-2030

9.4.4. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2022-2030

9.4.5. Latin America Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2022-2030

9.5. Middle East & Africa

9.5.1. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by Test Location, 2022-2030

9.5.2. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by Technology, 2022-2030

9.5.3. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by Application, 2022-2030

9.5.4. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by End-use, 2022-2030

9.5.5. Middle East & Africa Molecular Diagnostics Point of Care Market revenue (US$ Million) by country, 2022-2030

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. Abbott Laboratories

10.2.2. Bayer Healthcare

10.2.3. Roche Diagnostics

10.2.4. Bio-Rad Laboratories

10.2.5. Danaher Corporation

10.2.6. BioMerieux

10.2.7. Dako

10.2.8. Abaxis Inc.

10.2.9. OraSure Technologies Inc.

10.2.10. Nipro Diagnostics

10.2.11. Other Prominent Players

Segmentation of Molecular Diagnostics Point of Care Market-

By Test Location-

  • Over-the-Counter (OTC)
  • PoC

By Technology-

  • PCR-based
  • Genetic Sequencing-based
  • Hybridization-based
  • Microarray-based

By Application-

  • Infectious Diseases
  • Oncology
  • Hematology
  • Prenatal Testing
  • Endocrinology
  • Others

By End-Use

  • Decentralized Labs
  • Hospitals
  • Homecare
  • Assisted Living Healthcare Facilities
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

 

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