According to a report, "Point of Care (PoC) Molecular Diagnostics Market Analysis By Application, (Infectious Diseases, Oncology, Hematology, Prenatal Testing, Endocrinology), By Technology (PCR-based, Microarray-based, Hybridization-based, Genetic Sequencing-based), By Test Location, (Over-the-counter, Point-of-care), By End-use (Decentralized Labs, Hospitals, Home-care, Assisted Living Facilities) And Segment Forecasts To 2024", published by Grand View Research, Inc. Global point of care molecular diagnostics market is anticipated to reach USD 3.9 billion by 2024;Growing demand for CLIA tests that are, by definition, portable and safe enough to be used in non-laboratory settings such as pharmacy clinics, physician offices, and home-care settings, is expected to drive demand in the market over the forecast period.
Ongoing research and development is continually supported and funded by a number of major international entities including the national governments of developed countries and high-value private funding agencies such as the Bill & Melinda Gates Foundation.
Key Takeaways from the report:
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Application of POC MDx tests for infectious diseases accounted for over 45% of market revenue in 2015. The large share can be accounted for by the presence of an extensive portfolio of the concerned tests with a number of major market entities. Furthermore, growing disease burden of infectious diseases in developing as well as developed countries is another factor the reinforces the dominance of this segment.
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PCR-based POC tests accounted for the largest share of the market in 2015. Widespread usage of PCR-based techniques for molecular diagnosis and commercialization of POC real time PCR products such as the cobas LIAT by Roche have provided this segment with ample opportunities for revenue generation and are expected to maintain a favorable market environment over the forecast period.
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North America was observed to be the most lucrative region on this market and estimated to account for over 40% of the global revenue. presence of a technologically advanced medical framework, sophisticated insurance & copayment system & high R&D investment by governments and private funding organizations for the development of POC MDx tests are major factors responsible for the region’s dominant market position.
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Key players operating in this industry include Johnson & Johnson, Danaher Corp., Cepheid, Bio-Rad Laboratories, bioMerieux, Becton Dickinson, Roche Diagnostics, Bayer Healthcare, Alere Inc (Abbott), Abbott Laboratories among others.
Growing demand for CLIA tests that are, by definition, portable and safe enough to be used in non-laboratory settings such as pharmacy clinics, physician offices, and home-care settings, is expected to drive demand in the market over the forecast period. Ongoing research and development is continually supported and funded by a number of major international entities including the national governments of developed countries and high-value private funding agencies such as the Bill & Melinda Gates Foundation.
U.S. Point of Care Molecular Diagnostics Market, By Application, 2015 - 2024 (USD Million)
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Urinalysis Market: Automation is a key technological advancement affecting the efficiency and accuracy delivered by the new generation urinalysis devices and hence, the persistent demand for novel urinalysis instruments and consumables.
Tuberculosis Diagnostics Market: Advent of advanced diagnostic methods such as Interferon-gamma Release Assay (IGRA), serological methods, and nucleic acid testing have resulted in the high usage rate of diagnostics. Moreover, Point of Care (POC) technologies such as antigen assays are also promoting the diagnosis rate of TB.
Furthermore, a growing portfolio of point-of-care testing capabilities that, had initially been focused on screening, testing, and diagnosis of infectious diseases in low-income developing countries, has been developing at a rapid pace over the past decade to expand its potential market to a broader range of medical faculties. Consequently, POC and molecular diagnosis tests are available and/or are under development for cardiology monitoring, oncology testing, and hematology testing.
Recent advances in the development of microfluidics and genetic sequencing instrumentation pave the way for development of cost-effective, highly accurate and rapid testing platforms, which are able to be used as true POC systems. This is a key factor that significantly contributes towards the favorably funded, high growth potential environment prevalent in the point of care molecular diagnostics market.
Grand View Research has segmented point of care molecular diagnostics market on the basis of workflow, mode, services, and region:
Global Point of Care Molecular Diagnostics Application Outlook (Revenue, USD Million, 2013 - 2024)
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Infectious Diseases
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Oncology
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Hematology
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Prenatal Testing
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Endocrinology
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Other Applications
Global Point of Care Molecular Diagnostics Technology Outlook (Revenue, USD Million, 2013 - 2024)
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PCR-based
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Genetic Sequencing-based
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Hybridization-based
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Microarray-based
Global Point of Care Molecular Diagnostics Test Location Outlook (Revenue, USD Million, 2013 - 2024)
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OTC
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POC
Global Point of Care Molecular Diagnostics End-use Outlook (Revenue, USD Million, 2013 - 2024)
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Decentralized Labs
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Hospitals
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Home-care
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Assisted Living Healthcare Facilities
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Other uses
Point of Care Molecular Diagnostics Regional Outlook (Revenue, USD Million, 2013 - 2024)
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North America
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U.S.
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Canada
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Europe
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Germany
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UK
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Asia Pacific
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China
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Japan
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Latin America
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Brazil
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MEA
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South Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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