Near Patient Molecular Solution Market Opportunity Analysis, 2018-2026

Near patient molecular solution, also called point-of-care diagnosis, is a technology that helps diagnose and monitor health at the convenience of the patient. There are various innovations in healthcare such as basic health monitoring smartphone apps, wearable devices, and biosensors, which provide ease to patient in monitoring their health. The motive is to provide patients with easy access to testing solutions, with quick turnaround time and accurate results as opposed to that offered by conventional lab-based tests.

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Increasing incidence of diseases such as cardiac disorders and diabetes in developing countries, growing preference for home-based point-of-care devices, advancements in technology, and wide availability of easy to use devices are spurring growth of the near patient molecular solution market. According to the institute for Health Metrics and Evaluation (IHME), the number of deaths due to cardiovascular diseases worldwide increased by 41% between 1990 and 2013, from 12.3 million to 17.3 million deaths. South Asia experienced the largest increase in total deaths, with 1.8 million more deaths in 2013 than in 1990—an alarming increase of 97%.

Due to increasing demand for point-of-care diagnosis, manufacturing companies are focusing on developing technologies that provide quick and accurate results, with small learning curve. However, shortage of skilled staff in using these devices is expected to restrain the growth of near patient molecular solution market to a certain extent.

Quick turnaround times of Near Patient Molecular Solutions a boon for Hospitals and Private Clinics

End users of near patient molecular solution or POC devices include hospitals, homecare, research laboratories and diagnostic laboratories. Use of near patient molecular solutions provides fast turnaround times for physicians at outpatient care facilities

North America Prominent Market, Asia High Potential Region

North America is a potential market for molecular diagnostics kits used in the testing of infectious diseases. This is due to technological advancements in molecular diagnostic tools, high prevalence of infectious diseases, high patient awareness, and faster adoption of these devices in the region. The near patient molecular solution market in Asia is projected to witness rapid growth due to rampant research and development activities and growing awareness among the populace about infectious diseases and their diagnostic procedures. Moreover, increase in population and growing disposable income in developing countries such as India and China are expected to boost growth of the near patient molecular solution market in the near future.

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Global players involved in near patient molecular solution market

Major companies operating in the global molecular diagnostics include Abbott Laboratories, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Siemens AG, Veridex, LLC, Luminex Corp., and GenMark Diagnostics. Integration of advanced technologies in their product offerings is the major focus of companies competing in near patient molecular solution market. Abbott’s i-STAT Alinity handheld blood testing platform received CE mark in November 2016. Siemens Healthineers acquired Conworx Technology to flesh out its point-of-care informatics capabilities in November 2016. This highly lucrative market is expected to witness fast growth in the near future, fueled by increasing R&D activities by major players in order to differentiate their offerings.

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This release was published on openPR.