Global Molecular Diagnostic Point of Care Market to Reach $6.02 Bn by 2029

Tuesday 24 September 2019, Amsterdam

According to a new market intelligence report, titled “Global Molecular Diagnostic Point of Care Market- Analysis and Forecast, 2019-2029”, the global molecular diagnostic point of care market was valued at $1.68 billion in 2018 and is anticipated to grow over $6.02 billion by 2029. The global molecular diagnostic point of care market is expected to grow at a double-digit compound annual growth rate in the forecast period 2019-2029, aided primarily by the impressive growth in the underlying manufacturing market.

On a broader horizon, the domain of healthcare diagnostics is constituted of two primary areas, in-vivo imaging, and in-vitro diagnostics. In-vivo imaging encompasses technologies including X-Rays, ultrasonic waves, magnetic resonance, and radio-nuclear methods that allow the visualization of the body, its organs, and other structures of importance. In-vitro diagnostics are medical devices and accessories that are utilized for the testing of samples that have been extracted from the human body for the detection of infection, diagnosis of medical condition, and prevention of disease. One of the revolutionary breakthroughs which in-vitro diagnostics has resulted in is diagnosis at a molecular level. Molecular diagnostics involve a detailed study of nucleic acids and proteins to diagnose and characterize the diseases, resulting in target-based treatment of diseases. This treatment approach based on biomarker study is perceived to be promising in driving a paradigm shift in the healthcare industry, facilitating elimination of the uncertainty pertaining to the trial-and-error method of medications, and certainly eliminating unnecessary healthcare spending. Therefore, molecular diagnostics has been receiving considerable acceptance in the medical community. Another breakthrough in the field of in-vitro diagnostics is point of care technology (POCT). The technological advancements such as miniaturization, nanotechnology and microfluidics have been pushing this cloud-connected point of care technology toward specificity and sensitivity at reduced cost and rapid turnaround time. The amalgamation of both the technologies has led the clinical molecular testing toward decentralized molecular diagnostics.

“North America is the leading contributor in the molecular diagnostic point of care market and contributed approximately 42.18% to the global market value in 2018. This region is anticipated to grow at a CAGR of 11.75% during the forecast period 2019-2029 and continue dominating the global market in 2029 as well. However, the Asia-Pacific region is expected to grow at an impressive CAGR of 12.56% during the forecast period from 2019-2029. The Europe region also contributed a significant share of 27.27% to the global market and is anticipated to grow at a CAGR of 12.44% during the forecast period from 2019-2029.”

Research Highlights:

• Infectious disease segment is the leading contributor in molecular diagnostic point of care market and contributed approximately 71.16% in the global market value. However, the molecular diagnostic point of care market for oncology is anticipated to witness the fastest growth of 14.11% during the forecast period 2019-2029.
• F. Hoffmann-La Roche AG is currently the largest shareholder in the global molecular diagnostic point of care market. This market dominance is attributed to the company’s presence within the market through its expansive product portfolio, led by dedicated products.

This market intelligence report provides a multi-dimensional view of the global molecular diagnostic point of care market in terms of market size and growth potential. This research report aims at answering various aspects of the global molecular diagnostic point of care market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.

Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, manufacturers, service providers, and trend analysis by segment, and growth share analysis by region. Additionally, the report provides a comprehensive attractive analysis and opportunity analysis for the entire global molecular diagnostic point of care market for 2019 and 2029.

This report is a meticulous compilation of research on more than 50 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also comprises 15 detailed company profiles including several key players, such as Hologic, Inc., Abbott Laboratories, bioMerieux S.A., QIAGEN N.V., Quidel Corporation, Biocartis NV, Danaher Corporation, DiaSorin S.p.A., F. Hoffman-La Roche Ltd., Luminex Corporation, Mesa Biotech, QuantuMDx Group Ltd., Spartan Biosciences Inc., DxNA LLC, and Abacus Diagnostica Oy.

The answers to the following key questions can be derived from this report:

• What are the major market drivers, challenges, and opportunities in the global molecular diagnostic point of care market?
• What are the factors resulting in the emerging trends within the global molecular diagnostic point of care market?
• How is each segment expected to grow in the global molecular diagnostic point of care market during the forecast period and what is the estimated revenue to be generated by each of the segments by the end of 2029?
• What are the key developmental strategies which are implemented by the major players in order to sustain in the competitive market? What are the key regulatory implications in developed and developing regions for molecular diagnostic point of care market?
• Who are the leading players with significant offerings to the global molecular diagnostic point of care market? What is the current market dominance for each of these leading players?
• What is the compound growth rate expected to be witnessed by the leading players in the market during the forecast period 2019-2029?
• What are the key applications in global molecular diagnostic point of care market? What are the major segments of these applications?
• Which are the dominant methods of the global molecular diagnostic point of care market? Which is the fastest growing method in the global molecular diagnostic point of care market?
• Who are the key manufacturers and service providers in the global molecular diagnostic point of care market, and what are their contributions? Also, what is the growth potential of each major molecular point of care diagnostic manufacturer?
• What is the scope of the global molecular diagnostic point of care market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World? Which therapeutic application type dominates these regions?

Key trends targeted in the report:

• What are the emerging trends in the global molecular diagnostic point of care market? How are these trends revolutionizing the current diagnosis?
• Which companies are anticipated to be highly disruptive in the future and why?
• What are the gaps in regularizing optimum molecular diagnostic based point of care test? How are these gaps being tackled?