NEW YORK, Oct. 26, 2016 /PRNewswire/ -- Global point
of care molecular diagnostics market is anticipated to reach
USD 3.9 billion by 2024, according to
a new report by Grand View Research, Inc. Ongoing research &
development to miniaturize molecular diagnostics testing that
provides enhanced near patient testing with high accuracy &
lesser turnaround times are major factors expected to reinforce the
high growth potential for POC MDx products.
Growing demand for CLIA tests that are, by definition, portable
and safe enough to be used in non-laboratory settings such as
pharmacy clinics, physician offices, and home-care settings, is
expected to drive demand in the market over the forecast period.
Ongoing research and development is continually supported and
funded by a number of major international entities including the
national governments of developed countries and high-value private
funding agencies such as the Bill & Melinda Gates
Foundation.
Furthermore, a growing portfolio of point-of-care testing
capabilities that, had initially been focused on screening,
testing, and diagnosis of infectious diseases in low-income
developing countries, has been developing at a rapid pace over the
past decade to expand its potential market to a broader range of
medical faculties. Consequently, POC and molecular diagnosis tests
are available and/or are under development for cardiology
monitoring, oncology testing, and hematology testing.
Recent advances in the development of microfluidics and genetic
sequencing instrumentation pave the way for development of
cost-effective, highly accurate and rapid testing platforms, which
are able to be used as true POC systems. This is a key factor that
significantly contributes towards the favorably funded, high growth
potential environment prevalent in the point of care molecular
diagnostics market.
Further key findings from the report suggest:
Application of POC MDx tests for infectious diseases accounted for
over 45% of market revenue in 2015. The large share can be
accounted for by the presence of an extensive portfolio of the
concerned tests with a number of major market entities.
Furthermore, growing disease burden of infectious diseases in
developing as well as developed countries is another factor the
reinforces the dominance of this segment.
PCR-based POC tests accounted for the largest share of the market
in 2015. Widespread usage of PCR-based techniques for molecular
diagnosis and commercialization of POC real time PCR products such
as the cobas LIAT by Roche have provided this segment with ample
opportunities for revenue generation and are expected to maintain a
favorable market environment over the forecast period.
North America was observed to
be the most lucrative region on this market and estimated to
account for over 40% of the global revenue. presence of a
technologically advanced medical framework, sophisticated insurance
& copayment system & high R&D investment by governments
and private funding organizations for the development of POC MDx
tests are major factors responsible for the region's dominant
market position.
Key players operating in this industry include Johnson &
Johnson, Danaher Corp., Cepheid, Bio-Rad Laboratories, bioMerieux,
Becton Dickinson, Roche Diagnostics,
Bayer Healthcare, Alere Inc (Abbott), Abbott Laboratories among
others.
Read the full report:
http://www.reportlinker.com/p03937890-summary/view-report.html
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