Global Point of Care Molecular Diagnostics Market – INAAT, R-PCR, Analysis and Forecast 2024

Molecular diagnosis is detection of specific sequence of DNA or RNA that may be associated with disease. Point of care molecular diagnostics helps healthcare professionals in the detection of diseases through molecular technologies in point-of-care settings. The global point of care molecular diagnostics market is growing at significant rate due to intensifying occurrence of infectious diseases, and increasing focus on decentralized diagnostics. Different types of products and services contributed to the point of care molecular diagnostics market size. The market has witnessed high demand for assays & kits over the last few years, due to intensifying occurrence of infectious diseases.

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The global point of care molecular diagnostics market has also been segmented by product & services into instruments, assays & kits, and software and services. The assays & kits segment is estimated to account largest share and is expected to grow at fastest rate in the market due to intensifying occurrence of infectious diseases.

The inadequate reimbursements, long product development time and stringent regulatory requirements for product launch are the major challenges for the growth of point of care molecular diagnostics market.

Geographically, North America is the largest point of care molecular diagnostics market due to intensifying occurrence of infectious diseases, increasing demand for fast and portable tests, increasing government initiatives, increasing focus on preventive care to reduce the economic burden and increasing number of CLIA product approvals. For instance, according to Centre for Disease Control and Prevention (CDC) in 2014 approximately 9,421 new cases were diagnosed with tuberculosis.

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Asia-Pacific is observed to witness fastest growth in the market as the region comprises of largest population. In addition, increasing demand for influenza A/B tests and growing initiatives by market players are also creating a positive impact on the point of care molecular diagnostics industry growth in the region.

Major players in the industry are investing in the development of innovative and advance products, which is strengthening their position in the market. For instance, in January 2017, Abbott received CE approval for Alinity System for blood and plasma screening. It is designed to screen blood and plasma faster and more efficiently within a smaller footprint. Abbott Laboratories, Danaher Corporation, Biomérieux Sa, Roche Diagnostics, Quidel, Meridian Bioscience, Mesa Biotech, Genepoc, DxNA, Atlas Genetics are some of the key players offering point of care molecular diagnostics products.

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This release was published on openPR.