Global Point of Care Molecular Diagnostics Market Research Report Forecast 2027
Point of Care Molecular Diagnostics Market by Product & Solution (Assay, Analyzer, Software, Services), Technology (RT-qPCR, INAAT), Application (Respiratory Diseases, Hospital Acquired Infections, STD), End User (Clinics, Research) - Forecast to 2027
The point of care (POC) molecular diagnostics market is expected to grow at a CAGR of 13.2% from 2019 to 2027 to reach $2.39 billion by 2027.
The growth in the POC molecular diagnostics market is mainly attributed to the rising prevalence of chronic diseases, development of CLIA-waived POC molecular diagnostic tests, venture capital funding for the development of POC molecular diagnostic products, growing demand for POC molecular diagnostics, and need for rapid decision making in emergency care departments. Moreover, emerging countries provide increasing growth opportunities for players operating in the POC molecular diagnostics market.
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Based on the POC molecular diagnostic products, the kits & assays segment accounted for the largest share of the overall POC molecular diagnostics market in 2019. The large share of this segment is mainly attributed to its frequent use in the molecular diagnostic testing. Moreover, growing focus of key market players on receiving CLIA approval for their products is further supporting the fastest growth of the kits & assays segment.
Based on technology, real-time qualitative polymerase chain reaction (RT-qPCR) technology dominated the overall POC molecular diagnostics market in 2019. Large number of commercially available RT-qPCR based POC molecular diagnostic systems or tests compared to other technologies, need for rapid diagnosis of viral & infectious diseases, and use of RT-qPCR in proteomics & genomics contributed to the largest share of the RT-qPCR technology segment in the overall POC molecular diagnostics market.
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Last Update : Mar 31, 2020 8:29 AM
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