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PoC Molecular Diagnostics Market will surge at 9%+ CAGR up to 2024 Profield players are Bayer, bioMérieux, Bio-Rad Laboratories, Danaher Corporation and 5 others

01-23-2019 12:45 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Point of Care (PoC) Molecular Diagnostics Market

Point of Care (PoC) Molecular Diagnostics Market

Global Point of Care (PoC) Molecular Diagnostics Market is poised to surpass USD 2.5 billion by 2024; according to a new research study published by Global Market Insights, Inc. Increasing awareness regarding pre-disease diagnosis along with growing incidence of infectious diseases will drive point of care molecular diagnostics market growth. Growing R&D focused on reducing time required for molecular tests will further propel industry growth. However, long product development time and complex regulatory process will hamper the business acceleration.

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Isothermal amplification technology should exhibit lucrative growth as they are used as an alternative to polymerase chain reaction. Thermocycling machines are not required in the use of this technology and it can mostly be performed with reduced time, greater accuracy and high throughput. The increased reliability of isothermal amplification will drive segment growth. The added benefit of constant temperature of amplification provides a high potential for simple integration of this technique in PoC devices.

Sequencing technology are poised to grow at the fastest pace as ongoing advancements and increase in sequencing throughput have considerably decreased both sequencing costs and time.

Point of care molecular diagnostics for Clostridium difficile will witness robust growth in the coming years. In the developed countries, Clostridium infection is the most common cause of nosocomial infectious diarrhea. Growing use of PoC test owing to feasibility, performance ease and acceptability will fuel demand.

Growing demand for accurate and inexpensive PoC tests for controlling sexually transmitted infections along with need for immediate patient diagnosis and treatment will drive point of care molecular diagnostics for Gonorrhea.

Mexico point of care molecular diagnostics market will witness considerable growth over the forecast timeframe owing to the increasing focus to deliver low cost care to the patient’s home. Increasing volume of point of care molecular testing will further stimulate demand. Growing efforts to provide effective care for infectious diseases along with easy to use devices will augment industry expansion.

Some of the prominent industry players include Abbott, Sysmex, Roche, Bayer, Danaher, BioMerieux and Bio-Rad Laboratories. Presently, there are few companies operating in the industry, however, the rivalry will intensify in the coming years with the entry of new players. The industry participants adopt various strategic initiatives such as launching of new products, geographical expansion and acquisitions to consolidate their market position. For instance, in July 2017, OraSure Technologies received prequalification from WHO for its OraQuick HIV Self- Test. The company also recently entered into an agreement with Bill & Melinda Gates Foundation for reducing the price of the test in 50 developing countries. Both the aforementioned strategies would accelerate adoption and deployment of the test.

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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

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