Global $2.39 Billion POC Molecular Diagnostics Industry Forecast, 2027 - Key Drivers Include Development of CLIA-Waived Molecular POC Tests, Venture Capital Funding for Development of Products
DUBLIN, March 17, 2020 /PRNewswire/ -- The "Point of Care Molecular Diagnostics Market by Product and Solution (Assay, Analyzer, Software, Services), Technology (RT-qPCR, INAAT), Application (Respiratory Diseases, Hospital Acquired Infections, STD), and End User - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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The point of care (POC) molecular diagnostics market is expected to grow at a CAGR of 13.2% from 2019 to 2027 to reach $2.39 billion by 2027.
The growth in the POC molecular diagnostics market is mainly attributed to the rising prevalence of chronic diseases, development of CLIA-waived POC molecular diagnostic tests, venture capital funding for the development of POC molecular diagnostic products, growing demand for POC molecular diagnostics, and need for rapid decision making in emergency care departments. Moreover, emerging countries provide increasing growth opportunities for players operating in the POC molecular diagnostics market.
Based on the POC molecular diagnostic products, the kits & assays segment accounted for the largest share of the overall POC molecular diagnostics market in 2019. The large share of this segment is mainly attributed to its frequent use in the molecular diagnostic testing. Moreover, growing focus of key market players on receiving CLIA approval for their products is further supporting the fastest growth of the kits & assays segment.
Based on technology, real-time qualitative polymerase chain reaction (RT-qPCR) technology dominated the overall POC molecular diagnostics market in 2019.
Large number of commercially available RT-qPCR based POC molecular diagnostic systems or tests compared to other technologies, need for rapid diagnosis of viral & infectious diseases, and use of RT-qPCR in proteomics & genomics contributed to the largest share of the RT-qPCR technology segment in the overall POC molecular diagnostics market.
In the perspective of end users of POC molecular diagnostics, these products are more beneficial at the physician's offices and diagnostic laboratories for early disease diagnosis and making decision about the therapy to treat the particular disease. Therefore, clinics and diagnostic laboratories held the largest share of the overall POC molecular diagnostics market in 2019. Moreover, growing number of physicians adopting POC technologies and increasing focus of key companies on offering disease-specific POC molecular diagnostics drives the growth of the POC molecular diagnostics market for clinics and diagnostic laboratory segment.
An in-depth analysis of the geographic scenario of the overall POC molecular diagnostics market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America commanded the largest share of the overall POC molecular diagnostics market in 2019, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The key players operating in the global point of care molecular diagnostics market are Alere Inc. (U.S.), GeneSTAT Molecular Diagnostics, LLC (U.S.), Mesa Biotech Inc. (U.S.), Meridian Bioscience Inc. (U.S.), Danaher Corporation (U.S.), Quidel Corporation (U.S.), Biocartis Group NV (Belgium), bioMerieux SA (France), Thermo Fisher Scientific (U.S.), and F. Hoffmann-La Roche Ltd. (Switzerland), among others.
Key Topics Covered
1. Introduction
2. Research Methodology
3 Executive Summary
4. Market insights
4.1. Introduction
4.2. Drivers
4.2.1. Rising Prevalence of Chronic Diseases
4.2.2. Development of CLIA-Waived Molecular POC Tests
4.2.3. Venture Capital Funding for Development of POC Molecular Diagnostics Products
4.2.4. Growing Demand for POC Molecular Diagnostics
4.2.5. Need for Rapid Decision Making in Emergency Care Departments
4.3. Restraints
4.3.1. Technical Requirements & Regulatory Process for High or Moderate Complexity Tests
4.4. Opportunity
4.4.1. Emerging Economies
4.5. Challenge
4.5.1. Low Access for Tests Owing to Reimbursement Cuts
5. POC Molecular Diagnostics Market, by Product
5.1. Introduction
5.2. Kits & Assays
5.3. Analyzers
5.4. Software and Services
6. POC Molecular Diagnostics Market, by Technology
6.1. Introduction
6.2. Real-Time Quantitative Polymerase Chain Reaction (Rt-QPCR)
6.3. Isothermal Nucleic Acid Amplification Technology (INAAT)
6.4. Other Technologies
7. POC Molecular Diagnostics Market, by Application
7.1. Introduction
7.2. Respiratory Diseases
7.3. Sexually Transmitted Diseases (STDs)
7.4. Hospital Acquired infections (HAIs)
7.5. Oncology
7.6. Neonatal & Prenatal Testing
7.7. Other Applications
8. POC Molecular Diagnostics Market, by End User
8.1. Introduction
8.2. Clinics and Diagnostics Laboratories
8.3. Hospital Outpatient Departments & Intensive Care Units (ICUs)
8.4. Research and Academic institute
8.5. Other End Users
9. POC Molecular Diagnostics Market, by Geography
9.1. Introduction
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.4.4. Rest of Asia-Pacific (RoAPAC)
9.5. Latin America
9.6. Middle East & Africa
10. Competitive Landscape
10.1. Introduction
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Market Share Analysis
11. Company Profiles
11.1. Alere Inc. (Subsidiary of Abbott Laboratories)
11.2. Quidel Corporation
11.3. F. Hoffmann-La Roche Ltd.
11.4. Danaher Corporation
11.5. Thermo Fisher Scientific Inc.
11.6. bioMerieux S.A.
11.7. Meridian Bioscience, Inc.
11.8. Mesa Biotech Inc.
11.9. GeneSTAT Molecular Diagnostics, LLC
11.10. Biocartis Group N.V.
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