Point of Care (PoC) Molecular Diagnostics Market Forecast 2019 with Roche , Abbott , Danaher Corporation, Abaxis, Inc. , Bayer , bioMérieux , Bio-Rad Laboratories , OraSure Technologies , Sysmex Corporation
U.S. point of care molecular diagnostics market held significant revenue share in 2016. Growing infectious disease incidence leading to huge healthcare costs and increasing focus on preventive care to reduce the economic burden are propelling the PoC molecular diagnostics market size. Increasing demand for fast and portable tests along with rising diagnostics adoption rate for use in and outside hospital settings serves as a highly influential factor driving industry growth.
Point of Care (PoC) molecular diagnostics market is poised to witness robust growth over the forecast period. Increasing infectious diseases incidence coupled with growing public awareness levels pertaining to pre-disease detection to control its occurrence will drive PoC molecular diagnostics market growth quick and precise detection of causative agents is of utmost importance in infectious disease emergency cases as the inaccuracy in disease detection leads to incorrect treatment which escalates disease spreading risk. Point of care molecular diagnostic assays permit the timely detection of the causative agent enabling effective disease control.
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Several organizations such as Foundation for Innovative New Diagnostics conduct various initiatives and programs for creating awareness regarding pre-disease detection which will augment industry expansion in the coming years Increasing research and development funding in this field serves as a high impact rendering factor. Governments and private entities provide funds for development of cost effective solutions to cater to the growing consumer demand Advancements in the areas of DNA sequencing and analysis will enable faster and accurate detection of causative agents. Such technological advances will further propel PoC molecular diagnostics market growth.
However, long time required for developing molecular diagnostics hampers industry growth. The development process involves several stages such as research, prototype designing, testing and finally pre- and post-market procedures which make it lengthy. Existence of complex regulatory procedures further restrain expansion.
Polymerase Chain Reaction (PCR) technology held the largest share in 2016 and is slated to witness rapid growth over the coming years owing to its extended application and improved precision and reproducibility. Growing incidence of infectious disease and genetic disorders coupled with increase in public-private investment in PCR oriented research will propel segment growth Chips and microarrays will witness significant growth during the forecast period as they are at the forefront of the ongoing revolution in life science and molecular biology.
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Flu molecular diagnostics market held significant share in 2016. The segment is poised to grow at a rapid pace owing to the increase global burden of seasonal influenza. Flu prevalence is growing among the ageing population, new born children and individuals afflicted with certain chronic conditions who have a higher susceptibility to the disease. Increasing availability of screening tests for A and B virus infectious should further stimulate Flu PoC test demand.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Candida molecular diagnostics market will witness profitable growth as it is one of the most serious health acquired infection in immuno-compromised individuals across the globe. Ongoing advancements in Candida detection focused on the development of portable point of care tests which are compact and simple to use for rapid and precise testing will drive segment growth. Firms are engaged in rigorous research and development for devising automatic platforms that automatically performs all the processes such as cell lysis, DNA / RNA extraction, purification along with detection.
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Hepatitis B infection is also amongst the most important global health problems affecting large population pool. Laboratory detection of HBV is based on immune detection of HBsAg. However, the problem of HBsAg non-detection owing to diagnostic escape mutations in the isotopes or low antigen levels have greatly emphasized importance of molecular biology tools for virus detection stimulating the demand South Africa point of care molecular diagnostics market presents a lucrative future opportunity owing to the increasing focus on curtailment of HIV and Tuberculosis.
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