Point of Care (PoC) Molecular Diagnostics Market 2018: Exploration on Eminent Players | Abaxis Inc., Abbott Laboratories, Bayer Corporation, BioMerieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, OraSure Technologies, Inc., Roche Diagnostics, Sys

Point of Care (POC) Molecular Diagnostic Market is anticipated to witness significant growth of around 9% CAGR from 2018 to 2024.

Rising prevalence of infectious diseases and increasing public awareness pertaining to early disease detection will drive point of care molecular diagnostics market over the coming years. Increasing geriatric population and growing rate of birth defects will further boost industry growth.
Increasing number of people suffering from STDs’ will stimulate demand for point of care molecular diagnostics over the coming years. According to WHO 2016 report, nearly 36.7 million people globally suffer from HIV.
Government and private units provide large funds for development of new tests for detection of emerging diseases will favor growth of POC molecular diagnostics market. For instance, PS18-1802: Integrated HIV Surveillance and Prevention Programs for Health Departments, an initiative undertaken by CDC to carry out inclusive HIV study and prevention program to avert incidences of new HIV infections and attain viral suppression among HIV patients will enhance market expansion.

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Several initiatives undertaken by healthcare organizations, such as CDC to aware the population about various disease diagnostic tests and kits available in the market will positively impact industry growth. Government efforts towards testing and linking minority patients to care, recommendations for HIV testing of adults, pregnant women and adolescents in health-care will propel industry growth. Furthermore, initiatives such as ‘Screen for Life: National Colorectal Cancer Action Campaign’ and ‘Bring Your Brave and National Breast and Cervical Cancer Early Detection Program’ will positively impact industry growth over the coming years.

Technological advancements in molecular diagnostics including focused isothermal nucleic acid amplification assays offering rapid results along with portability should drive POC molecular diagnostics market. However, prohibitive cost associated with equipment and reagents along with unskilled operators, and lack of space required for large equipment will hinder industry growth. Prolonged period for clinical studies to develop the molecular diagnostic and complex regulatory procedures extends time required for introduction of new product in the market will hamper growth of the industry.

Polymerase chain reaction technology held largest market share in 2017 and is anticipated to experience significant growth over the forecasted period owing to rising number of infectious diseases, birth defects, genetic disorders, and high investment by healthcare organizations and private entities towards development of PCR.

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Molecular diagnostic against flu dominated the market in 2017 due to increased number of patients suffering from flu. As per WHO, over 3 to 5 million people globally suffer from severe illness caused by influenza, out of which nearly 290,000 to 650,000 people die. Influenza can be categorized into four types, A, B, C and D. With increased availability for screening of Influenza A and B, the POC molecular diagnostic market is bound to grow at significant rate.

Rising prevalence of Hepatitis B will positively impact industry growth. According to WHO, nearly 2 million people suffer from hepatitis B virus infection. Increasing adoption of POC molecular tests for early disease detection due to its high specificity, quick results, satisfactory performance, low cost and reliability will propel business growth.

U.S. held largest regional share in 2017 owing to technological advancements in POC molecular diagnostics, growing healthcare awareness about early disease diagnosis and rising prevalence of infectious diseases in the country. As per CDC, around 9% of the total U.S. population is diagnosed with flu every year while 12000 to 56000 people die due to this condition. Well-developed healthcare infrastructure along with growing awareness towards early disease detection will propel industry growth. Furthermore, growing demand for fast, portable, simple molecular tests in and outside hospitals will favor business growth.

South Africa accounts for majority of population suffering from HIV/AIDS. As per WHO, 69.8% of total world population suffering from HIV/AIDS belongs to South Africa. This has compelled their government to focus on its curtailment. This move will influence the growth of POC molecular diagnostic market in the country.

The point of care (POC) molecular diagnostics market is dominated few major players such as Roche, Danaher and Abbott. Other industry players operating in the market are Bio-Rad Laboratories, Sysmex, Bayer and BioMerieux. Increasing number of manufacturers is anticipated to add to the industrial rivalry.

Industry players are focusing on rigorous R&D activities to launch innovative products against various diseases. For instance, In January 4, 2018, Cobas zika test by Roche has been approved by US-FDA. Roche also launched Cobas plasma separation card for increased access for HIV patients living in isolated areas. Strategic initiatives such as acquisition, partnerships, collaboration are undertaken by market players to expand their business portfolio and gain significant market share.

Report Content

Chapter 1 Methodology
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Market definition and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary

Chapter 2 Executive Summary
2.1 PoC molecular diagnostics industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Technology trends
2.1.3 Infectious disease trends
2.1.4 Regional trends

Chapter 3 PoC Molecular Diagnostics Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Increasing incidences of infectious diseases
3.3.1.2 Increasing R&D funding to reduce time required for molecular diagnostic tests
3.3.1.3 Growing awareness about pre-disease diagnostics to control occurrence of diseases
3.3.1.4 Technological advancements in DNA sequencing and analysis
3.3.2 Industry pitfalls & challenges
3.3.2.1 Long product development time
3.3.2.2 Complex regulatory process
3.4 Growth potential analysis
3.4.1 By technology
3.4.2 By infectious diseases
3.5 Technology landscape
3.6 All in one diagnostics solutions overview
3.6.1 Companies operating in all in one diagnostics
3.6.2 Major end user types
3.6.3 Industry drivers and pitfalls
3.6.4 Pipeline analysis
3.7 Porter’s analysis
3.8 Competitive landscape, 2016
3.8.1 Strategy dashboard
3.9 PESTEL analysis

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