Global P-o-c Molecular Diagnostic Market Analysis and Competitive Industry Top Players, Size, Revenue and Growth Rate |Abbott Laboratories, Bayer Healthcare, Cepheid, Inc., Becton, Dickinson and Company, BioMerieux, F. Hoffmann-La Roche AG, Bio-Rad Labora

The report "Global P-o-c Molecular Diagnostic Market, By Product & Solution (Kits & Assays, Analyzers, and Software & Services), By Technology (PCR-based, Genetic Sequencing-based, Hybridization-based, and Microarray-based), By Application (Respiratory Diseases, Sexually Transmitted Diseases (STDs), Hospital Acquired Infections (HAIs), Cancer/Oncology, Prenatal/Neonatal Testing, and Other Applications), By End-user (Clinics and Diagnostic Laboratories, Hospital Outpatient Departments and Intensive Care Units (ICUs), Research and Academic Institutes, and Other End Users), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In March 2020, Abbott announced that the U.S. Food and Drug Administration (FDA) has issued Emergency Use Authorization (EUA) for the fastest available molecular point-of-care test for the detection of novel coronavirus (COVID-19), delivering positive results in as little as five minutes and negative results in 13 minutes. The test will run on the company's ID NOW™ platform, providing rapid results in a wide range of healthcare settings such as physicians' offices, urgent care clinics, and hospital emergency departments.
In March 2020, Danaher Corp. subsidiary Cepheid announced that it received emergency use authorization from the FDA for its bedside Xpert Xpress SARS-CoV-2 test for detecting the virus causing the COVID-19 outbreak. The rapid molecular diagnostic test is designed to detect the SARS-CoV-2 virus causing coronavirus while operating on any of Cepheid’s GeneXpert systems worldwide, with a detection time of approximately 45 minutes.

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Analyst View:

Growing cases of chronic diseases associated with the aging population

Increase in the prevalence of various chronic diseases among the number of aged people is continuously increasing over several decades. For instance, according to the International Journal of Cancer, the number of new cancer cases was 14.1 million in 2012 in the world, which is projected to raise up to 24.4 million by 2035 with China witnessing the maximum number of cancer cases among 65 years and older. This is attributed to the growing number of cancer risk factors, lack of detection & treatment solutions, and lack of information about their causes.

Technological advancements

Ongoing research and development are continually funded and supported by a number of major international bodies involving the governments of established countries which is the major factor expected to reinforce the high growth potential for POC molecular diagnostics products. Furthermore, recent advances in the genetic sequencing instrumentation and development of microfluidics pave the way for the development of highly accurate, cost-effective, and rapid testing platforms, which are able to be used as true POC systems.

However, stringent rules and regulations and lack of reimbursement policies coupled with rising procedure costs act as a limiting factor for the point of care molecular diagnostics market over the forecast period.

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Competitive Landscape:

The prominent player operating in the global p-o-c molecular diagnostic market includes Abbott Laboratories, Bayer Healthcare, Cepheid, Inc., Becton, Dickinson and Company, BioMerieux, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Danaher Corporation, and Johnson and Johnson.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

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