Pune, India -- (SBWire) -- 02/16/2019 --A number of research gear were used to provide a specific knowledge of this market, consisting of Porter's 5 forces evaluation and SWOT analysis. The report highlights widespread marketplace increase trends and dynamics, which includes boundaries, drivers and opportunities. The Point of Care Molecular Diagnostics marketplace looks at integrates the marketplace modules ' development conditions and definition. The global market place is assessed by using kind, form of product, kind of material, software, vertical software and gives up-use. The document examines the approaching Point of Care Molecular Diagnostics market in North America, Europe, Asia-Pacific (APAC), the Middle East and Africa and Latin America on a regional foundation. The record provides information on the technological advances which might be possibly to occur within the coming years or are presently taking location. Similarly, the countries that generate high sales in those regions have additionally been tested in those countries, in conjunction with complete assurance and revolution. The market became categorized in terms of presentation within the next piece. This statistical survey research record additionally mentions the presentation segments of the worldwide market.
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The Global Point of Care Molecular Diagnostics Market is estimated to rise from the value of USD 627.6 million in 2017 to an estimated value of USD 1933.2 million by 2025, registering a CAGR of 15.1% during the forecast period of 2018-2025. This growth can be attributed to the rising cases of infectious diseases, and the growing demand for approved Point of Care Molecular Diagnostic tests.
Key Market Competitors:
- Agilent Technologies Inc.,
- Abbott,
- F. Hoffmann-La Roche Ltd.,
- Illumina Inc.,
- Hologic Inc.,
- QIAGEN,
And More Others Companies are Myriad Genetics, Cepheid, Genomic Health, GenePOC Inc., DxNA LLC., Binx Health Inc., Spartan Bioscience Inc., Biocartis, Beckman Coulter Inc., Johnson & Johnson Services Inc., Medtronic, Siemens Healthcare GmbH, Grifols S.A., Abaxis, Bayer AG, bioMérieux SA, Bio-Rad Laboratories Inc., Danaher, OraSure Technologies Inc., BD, Sysmex Corporation, Quidel Corporation, and Meridian Bioscience
Key Developments in the Market:
- In October 2017, Abbott completed the acquisition of Alere, for USD 5.9 billion. Alere was a global leader in diagnostics market and the acquisition helps Abbott grow its market share.
- In July 2017, Agilent Technologies announced the acquisition of Population Genetics' molecular and sample barcoding patent portfolios which help improve the accuracy of next generation sequencing (NGS). These help in the diagnostics of cancer.
Market Drivers:
- Increasing cases of infectious diseases causing the health professionals to determine the infections and its causes accurately in a timely manner, thereby increasing the demand for Point of Care Molecular Diagnostics Market.
- Increased demand for regulatory approved molecular tests driving the market
Market Restraints:
- Approval by the authorities is a time-consuming process and therefore the innovation programs suffer because of these long term regulations
- Research and development of these devices is very extensive and hugely resource consuming which is one of the major factors for the restraining of market expansion
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Segmentation:
- By Product
1. Assays & Kits
2. Instruments/Analyzers
3. Services & Software
4. By Application
5. Respiratory Diseases
6. Sexually Transmitted Diseases
7. Hospital-acquired Infection
8. Oncology
9. Hepatitis
10. Others
- By Technology
1. Polymerase Chain Reaction
? Real Time Polymerase Chain Reaction
? DNA/RNA Purification
2. In-Situ Hybridization
3. Chips and Microarrays
4. Mass Spectrometry
5. Sequencing
6. Isothermal Amplification
7. Others
- By End-User
1. Physician Offices
2. Hospitals
3. Research Institutes
4. Others
- By Geography
1. North America
2. South America
3. Europe
4. Asia-Pacific
5. Middle East & Africa
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Point of Care Molecular Diagnostics Market Is Growing at a Significant Rate in Forecast Period 2018-2025: Global Industry Analysis Research News by 2019
The Global Point of Care Molecular Diagnostics Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Point of Care Molecular Diagnostics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.