Point of Care (PoC) Molecular Diagnostics | 2018 Key Players | Roche, Abbott and Danaher dominate the PoC molecular diagnostics market. Other prominent industry participants include Bayer, BioMerieux, Bio-Rad Laboratories and Sysmex

Point of Care (PoC) Molecular Diagnostics Market to exceed USD 2.5 billion by 2024;according to a new research report.
Rising number of baby boomers, highly susceptible to suffer from several diseases coupled with increasing prevalence of infectious diseases will drive point of care molecular diagnostics market over the forecast period.

Rapid molecular assays allow early disease detection along with identification of disease causing agent. It plays significant role in infectious disease management, thus controlling disease prevalence. Technological advancements including lab on chip and high throughput sequencing has augmented level of accuracy as well as reduced time for result delivery. Growing awareness about pre-disease diagnosis and prevention has stimulated demand for rapid molecular diagnostic assays.

Increasing incidences of infectious diseases will stimulate demand for point of care diagnostics over the forecast years. Sedentary lifestyle, unhealthy diet coupled with favorable government initiatives to reduce infectious disease occurrences will positively impact point of care molecular diagnostics market growth. Long product development time coupled with complex nature of regulatory approval should hinder industry growth.

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PCR held largest revenue share in 2016 and is expected to follow similar trend over the coming years. Technological advancements in PCR, growing adoption of real time PCR in medical and research diagnostics coupled with significant role of PCR in DNA sequencing and amplification will drive market growth. In-situ hybridization market will grow due to rising incidences of cancer, growing application of in-situ hybridization in detecting chromosomal abnormality along with increasing healthcare awareness and healthcare expenditure.
Rising prevalence of HIV, growing awareness about disease diagnosis coupled with growing adoption of point of care in HIV diagnosis among infants will drive point of care molecular diagnostics HIV market. Availability of rapid diagnostic tests for diagnosis of viral infections, increasing prevalence of infectious diseases majorly among elderly people will drive point of care molecular diagnostics flu market over the coming years.

U.S. point of care molecular diagnostics market held largest revenue share in 2016. Growing number of baby boomers, high technological adoption coupled with rising awareness about early disease diagnosis coupled with several initiatives undertaken by government to control disease prevalence along with increasing healthcare expenditure will drive U.S. point of care molecular diagnostics market over the forecast timeframe.

Increasing number of baby boomers along with rising prevalence of infectious diseases will drive Chinese point of care molecular diagnostics market. Growing demand for advanced treatment, development of healthcare infrastructure and rising healthcare spending will positively impact market growth.

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Growing burden of infectious diseases such as hepatitis C in UK coupled with rising awareness about early disease diagnosis and prevention will drive UK point of care molecular diagnostics market over the forecast period. Growing demand for rapid disease diagnostic, user friendly kits along with rising disposable income will positively impact business growth.
Some of the notable industry players are Abbott Laboratories, BioMerieux SA, Bayer Corporation, Danaher Corporation, Bio-Rad Laboratories, Roche Diagnostics, and Abaxis. Industry players are focusing on developing new products delivering accurate results in less time to satisfy growing demand. Strategic collaboration, partnership, and acquisition are major strategies followed by market players to consolidate their market position.

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This release was published on openPR.