The Global Molecular Point Of Care Diagnostics Market to Gain $7398.82 Million by 2028

A Triton Market Research report on the global molecular point of care diagnostics market, has determined that the industry, which generated $2004.43 million in 2018, is expected to flourish with a CAGR of 14.05% by 2028.

A study by Triton Market Research with the title 'Global Molecular Point of Care Diagnostics Market,' covers the Global Analysis and Forecast for 2019-2028 by Application (Prenatal, Oncology, Infectious disease [Hospital-acquired Infections, Respiratory, Gastrointestinal infections, Sexually Transmitted Infections], Others), by Technology (Isothermal Nucleic Acid Amplification Technology, Polymerase Chain Reaction [Digital PCR, Real-time PCR], Other), by End-user (Hospital, Clinics, Diagnostic Centers, Others), and by Geographical Region (Asia-Pacific, Europe, Latin America, North America, Middle East and Africa).

Molecular point of care diagnostics refers to a process of assessing a patient's health by detecting the genetic signatures in DNA or RNA. It is used for diagnosing multiple defects at a molecular level.

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As per the report, the global molecular point of care diagnostics market will gain $7398.82 million by 2028, proliferating with a CAGR of 14.05% in the forecasted period 2019-2028. The increasing demand for diagnostic tests like non-invasive prenatal testing and liquid biopsy is driving the growth of the global molecular point of care diagnostics market. The rising havoc created by the spread of coronavirus has led to a sudden increase in the demand for the diagnostic technologies. This, along with the rising number of diseases, is driving the global market growth. However, the high-cost investment and infrastructure requirement are restraining the molecular point of care diagnostics market.

Based on application, the molecular point of care diagnostics market is divided into four parts - prenatal, oncology, infectious disease and others. Within the infectious disease, the market is further sub-segmented into hospital-acquired infection, respiratory, gastrointestinal infections and sexually transmitted infections. According to technology, the market is segmented into two parts, isothermal nucleic acid amplification technology and polymerase chain reaction molecular. Of these, the latter is further divided into digital PCR and real-time PCR.

Considering the geographical landscape, Asia-Pacific is likely to be the fastest-growing region for the molecular point of care diagnostics market in the forecasted years. The collaboration of the pharmaceutical industry, regulatory authorities, diagnostic companies and service providers to create a harmonized international platform in the region.

On the other hand, North America is anticipated to be the largest molecular point of care diagnostics market, contributing the highest to the overall revenue. The development of molecular diagnostics tests based on advanced biomarkers is one of the important factors driving the regional market growth.

Some of the eminent firms in the global molecular point of care diagnostics market are Abacus Diagnostica, Biomerieux SA, Luminex Corporation, Abbott, QuantuMDx Group Ltd, Quidel Corporation., Mesa Biotech, DiaSorin SpA, Danaher, Bio- Rad Laboratories Inc, Qiagen, Hologic Inc, Biocartis, F Hoffmann-La Roche Ltd and Spartan Biosciences Inc.

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Question & Answer: Molecular Point of Care Diagnostics Market

Question 1: What is driving the growth of the global molecular point of care diagnostics market?
Answer: The increasing demand for diagnostic tests like non-invasive prenatal testing and liquid biopsy is driving the growth of the global molecular point of care diagnostics market. The rising havoc created by the spread of coronavirus has lead to a sudden increase in the demand for the diagnosis technologies. This, along with the rising number of diseases, is driving the global market growth.

Question 2: Which factors are restraining the growth of the molecular point of care diagnostics market?
Answer: The high-cost investment and infrastructure requirement are restraining the growth of the molecular point of care diagnostics market.

Question 3: How are Asia-Pacific and North America impacting the molecular point of care diagnostics market outlook?
Answer: Considering the regional landscape, Asia-Pacific is likely to be the fastest-growing region for the molecular point of care diagnostics market in the forecasted years. The collaboration of the pharmaceutical industry, regulatory authorities, diagnostic companies and service providers to create a harmonized international platform in the region.

On the other hand, North America is anticipated to be the largest molecular point of care diagnostics market, contributing the highest to the overall revenue. The development of molecular diagnostics tests based on advanced biomarkers is one of the important factors driving the regional market growth.

Question 4: Which are the eminent firms in the global molecular point of care diagnostics market?
Answer: Some of the eminent firms in the global molecular point of care diagnostics market are Abacus Diagnostica, Biomerieux SA, Luminex Corporation, Abbott, QuantuMDx Group Ltd, Quidel Corporation., Mesa Biotech, DiaSorin SpA, Danaher, Bio-Rad Laboratories Inc, Qiagen, Hologic Inc, Biocartis, F Hoffmann-La Roche Ltd and Spartan Biosciences Inc.

Related Report:
Global Protein Sequencing Market

The global protein sequencing market is anticipated to reap a growth of $8970.37 million by 2028, growing with a CAGR of 6.78% during the estimated period 2019-2028.

The growing emphasis on innovative drug developments like target-based drugs is likely to aid the growth of the global protein sequencing market. Protein sequencing was primarily adopted only by large pharmaceutical and biotechnological companies; but currently, these technologies are accessible in academic research institutions as well. This may lead to the advent of the next generation of modern drug designers, which is likely to influence the market growth positively.

In addition, the emergence of technologically advanced mass spectrometry, also known as data independent analysis and hyper reaction monitoring, in the field of protein sequencing is driving the global market growth. The computational proteomics is still in its nascent phase. However, the development of this potential segment will create lucrative opportunities in the drug discovery space, thereby expanding the scope of the protein sequencing market in the coming years.

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