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Point of Care (PoC) Molecular Diagnostics Market Future Challenges and Industry Growth Outlook by 2020-2026

Point of Care (PoC) Molecular Diagnostics Market Future Challenges and Industry Growth Outlook by 2020-2026

Selbyville, Delaware, United States, October 23 2020 (Wiredrelease) Global Market Insights, Inc –:The point of care molecular (POC) diagnostics market is poised for robust growth on the back of the burgeoning prevalence of infectious diseases across the globe. In recent years, the global reach of infectious diseases such as flu, tuberculosis, HIV, hepatitis C, and respiratory syncytial virus is expanding at a rapid pace. As per the CDC (Centers for Disease Control and Prevention) estimates, Influenza, a seasonal respiratory virus, was responsible for around 14 million to 21 million medical visits in the United States of America alone since October 1, 2019.

Although influenza has an approved antiviral treatment, it is important for patients to get antiviral medicines within 48 hours of symptom onset. This has led to an increase in the demand for early molecular disease diagnosis and quick result interpretation, creating lucrative growth opportunities for the Point of care molecular (POC) diagnostics market

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A study conducted at GMI also suggests that the Point of care molecular (POC) diagnostics market is anticipated to surpass USD 2.8 billion by 2026.

It is rather undeniable that POC molecular diagnostics play a pivotal role in the detection of infectious diseases in particular. In fact, the infectious disease application segment accounted for over USD 780 million in 2019. Molecular diagnostics has significant application scope infectious diseases segment due to its several features like the lowest turnaround time and increased the specificity and sensitivity of viral detection. 

Moreover, molecular assays have also improved the diagnosis of enteric pathogens, including Clostridium difficile and organisms that are non-culturable using conventional culture methods such as gondii, Bartonella, Toxoplasma, and Leishmania. On this note, it is expected that the Point of care molecular (POC) diagnostics market will record significant revenues from the infectious diseases segment. 

POC molecular diagnostics market is essentially gaining traction in the hospitals segment in recent years. As per estimates, the hospital segment is expected to record 8% CAGR through 2020-2026. This segmental growth can be attributed to the increasing adoption of cutting-edge technologies like isothermal amplification, PCR, and sequencing in hospital settings for superior and quick diagnosis. Moreover, numerous advantages like low- cost improved treatment options would further encourage hospitals to opt for molecular diagnostic methods over the forecast period.

On the regional front, APAC is expected to offer lucrative growth opportunities to POC molecular diagnostics market growth. This growth can be attributed to the favorable initiatives being implanted by governments for the early treatment and molecular disease diagnosis.

Citing an instance to highlight the same, Japan’s Ministry of Health, Labor, and Welfare recently introduced JANIS (Japan Nosocomial Infections Surveillance) Program to provide information on the prevalence of antimicrobial-resistant bacteria and infections in medical settings. Such initiatives by governments are likely to accelerate the POC molecular diagnostics business outlook over the forecast period.

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While speaking about the competitive landscape, it is important to mention that POC molecular diagnostics market has a strong presence of well-established players. These companies are leveraging organic and inorganic growth strategies like a mergers, acquisitions, product launches to tap major market share.

Citing an example to justify the aforementioned sentence, in March 2020, Siemens Healthcare received the US FDA (Food and Drug Administration) clearance for its RapidPoint 500e Blood Gas Analyzer. The company launched this testing method to monitor ill patients, including COVID-19, in acute care settings. Notably, some prominent business players operating in the molecular diagnostics industry include Sysmex, Danaher, Vircell, Abbott Laboratories, Bio-Rad Laboratories, etc.  

Partial Chapter of the Table of Content 

Chapter 4. Point of Care Molecular Diagnostics Market, By Technology

4.1. Key segment trends

4.2. PCR

4.2.1.  PCR market, by region, 2015 – 2026, (USD Million)

4.3. In situ hybridization

4.3.1.  In situ hybridization market, by region, 2015 – 2026, (USD Million)

4.4. Sequencing

4.4.1.  Sequencing market, by region, 2015 – 2026, (USD Million)

4.5. Isothermal amplification

4.5.1.  Isothermal amplification market, by region, 2015 – 2026, (USD Million)

4.6. Others

4.6.1.  Others market, by region, 2015 – 2026, (USD Million)

Chapter 5. Point of Care Molecular Diagnostics Market, By Application

5.1. Key segment trends

5.2. Infectious disease

5.2.1.  Infectious disease market by region, 2015 – 2026 (USD Million)

5.2.2.  Flu

5.2.2.1.  Flu market, by region, 2015 – 2026 (USD Million)

5.2.3.  Tuberculosis

5.2.3.1.  Tuberculosis market, by region, 2015 – 2026 (USD Million)

5.2.4.  HIV

5.2.4.1.  HIV market, by region, 2015 – 2026 (USD Million)

5.2.5.  Gonorrhea

5.2.5.1.  Gonorrhea market, by region, 2015 – 2026 (USD Million)

5.2.6.  Chlamydia

5.2.6.1.  Chlamydia market, by region, 2015 – 2026 (USD Million)

5.2.7.  Hepatitis C

5.2.7.1.  Hepatitis C market, by region, 2015 – 2026 (USD Million)

5.2.8.  Hepatitis B

5.2.8.1.  Hepatitis B market, by region, 2015 – 2026 (USD Million)

5.2.9.  Others

5.2.9.1.  Others market, by region, 2015 – 2026 (USD Million)

5.3. Oncology

5.3.1.  Oncology market, by region, 2015 – 2026 (USD Million)

5.4. Hematology

5.4.1.  Hematology market, by region, 2015 – 2026 (USD Million)

5.5. Others

5.5.1.  Others market, by region, 2015 – 2026 (USD Million) 

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This content has been published by Global Market Insights, Inc company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at contact@wiredrelease.com.


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