Asia Pacific Point-of-Care Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product & Services (Assays & Kits, Instruments, and Services & Software), Technology [PCR, Isothermal Nucleic Acid Amplification Technology

Infectious Diseases Segment by application to Hold Largest Share of Asia Pacific Point-of-Care Molecular Diagnostics Market During 2021-2028

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According to our new research study on "Asia Pacific Point-of-Care Molecular Diagnostics Market to 2028 - Regional Analysis and Forecast - by Product & Services, Technology, Application, and End User," the market is projected to reach US$ 1,251.67 million by 2028 from US$ 499.19 million in 2021; it is expected to grow at a CAGR of 14.0% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

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Based on countries, the Asia Pacific point-of-care molecular diagnostics market is segmented into China, India, Japan, South Korea, Australia, Thailand, and rest of Asia Pacific. In 2021, China held is projected to hold the largest share of the market. However, India is expected to grow at the fastest rate during the forecast period. Cancer risk and mortality rates have increased in China over the last decade, with cancer becoming the biggest cause of death in the country. Population expansion, aging populations, and demographic changes are all contributing to the rising burden. According to the World Health Organization (WHO), around 4.5 million new cancer cases were discovered in China in 2021. Lung cancer was found to be the most frequent cancer in both sexes, with a frequency of about 18.1%, followed by colorectal cancer (12.2%), stomach cancer (10.6%), and liver cancer (10.6%). The rise in the prevalence of cancer is a major factor driving the market in China. According to the International Diabetes Federation, ~163 million people had diabetes in China in 2021. Additionally, according to the WHO, the diabetic population in China is expected to increase to 212 million by 2045. The rising number of cancer cases in China is boosting the need for cost-effective and timely diagnosis of the disease, which, in turn, is increasing the adoption of point-of-care molecular diagnostics kits, assays, and instruments across the healthcare industry in China. The Chinese healthcare market is extremely complicated and rapidly changing. Financing for public hospitals, decentralized treatment, and medical insurance is projected to increase due to favorable government reforms. These reforms and rising cases of cancer, diabetes, heart disease, and infectious illnesses, including HIV, hepatitis, and STDs, are creating strong prospects for the point-of-care molecular diagnostics market.

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As the number of COVID-19 cases in China rose, so did the demand for faster and more accurate diagnostic methods. PCR systems have been the standard for rapid detection of infection from the beginning of the pandemic. They have been implemented at a faster rate in hospitals, primary health clinics, and laboratories. Because of their high sensitivity and specificity, point-of-care PCR techniques are the most successful in identifying COVID-19. Thus, the COVID-19 pandemic created lucrative growth opportunities for China's point-of-care molecular diagnostics market.

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Based on application, the Asia Pacific point-of-care molecular diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. In 2021, the infectious diseases segment held is projected to hold the largest share of the market. However, the market for the oncology segment is expected to grow at the fastest rate during the forecast period. Infectious diseases are caused by microorganisms, such as bacteria, viruses, fungi, and parasites. Specimens, such as urine, blood, sputum, and cerebrospinal fluid, are subjected to various tests, and the disease-causing bacteria and viruses, known as the infectious agents, are identified quickly. The innovation in molecular assays, especially on the point-of-care testing front, has led to the spread of this testing from molecular diagnostic laboratories to clinical microbiology laboratories. Access to sensitive and rapid infectious disease diagnostic assays is important for accurate and effective diagnosis, treatment, and timely infection control, which makes a point-of-care molecular diagnostics vital for reducing the turnaround time (TAT). In the field of infectious diseases, point-of-care testing has high utility value as it provides useful information for initial treatment during consultation hours. Molecular-based POC influenza testing helps prevent unnecessary hospitalizations and antibiotic prescriptions, which allows the antivirals to be administered before patients are discharged and directly guides isolation precautions.

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bioMérieux SA; F. Hoffmann-La Roche Ltd.; Danaher Corporation; Enzo Biochem, Inc.; Abbott; binx health Inc.; Meridian BioScience, Inc.; Biocartis, Quidel Corporation, and Bio-Rad Laboratories, Inc. are among the leading companies operating in the Asia Pacific point-of-care molecular diagnostics market.

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The Asia Pacific point-of-care molecular diagnostics market is segmented on the basis of product & services, technology, application, and end user. Based on product & services, the market is segmented into assays & kits, instruments, and services & software. Based on technology, the market is segmented into PCR, isothermal nucleic acid amplification technology (INAAT), and other technologies. Based on application, the Asia Pacific point-of-care molecular diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. By end user, the market is segmented into hospitals & clinics, diagnostic laboratories, research & academic institutes, and others. Based on countries, the Asia Pacific point-of-care molecular diagnostics market is segmented into China, Japan, India, Australia, South Korea, Thailand, and Rest of Asia Pacific.

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