Point of Care (PoC) Molecular Diagnostics Market Size By Technology (PCR, In Situ Hybridization, Sequencing, Isothermal Amplification), By Application (Infectious Disease, {Flu, Respiratory Syncytial Virus (RSV), Tuberculosis (TB), HIV, Gonorrhea, Chlamydia, Hepatitis C, Hepatitis B}, Oncology, Hematology), By End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI2210  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 140   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Point of Care Molecular Diagnostics Market size valued at USD 1.6 billion in 2019 and is expected to witness 8% CAGR from 2020 to 2026. Surging prevalence of chronic illness such as cancer and infectious diseases will drive the market growth.
 

Rising focus of key market leaders on adopting inorganic and organic growth strategies for development and expansion of PoC molecular diagnostics product portfolio will foster the market revenue. Point of care molecular diagnostics tests have rapid turnaround time, reduces the patient visits, and enable timely treatment. Advances in nanotechnology, microfluids, miniaturization will enhance the performance of point of care molecular diagnostics devices rendering significant influence on the market demand.
 

Point of Care Molecular Diagnostics Market

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Increasing awareness regarding early disease diagnosis for better management of infections will have a positive impact on the point of care molecular diagnostics market size. Several initiatives undertaken by government in underdeveloped and developing regions to create awareness about infectious diseases and prevention will propel the market growth. In South Africa, NHLS (National Health Laboratory Service) is a major provider of laboratory diagnostics services having a national network of around 265 pathology laboratories. The Chinese government has prioritized TB, HIV, hepatitis B, and schistosomiasis as top infectious disease priorities in the country. Foundation for Innovative New Diagnostics (FIND) is working to create awareness regarding early diagnosis and management augmenting the market progression.
 

Point of Care (PoC) Molecular Diagnostics Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 1.6 Billion
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 8.0% 2026 Value Projection: USD 2.8 Billion
Pages: 140 Tables, Charts & Figures: 163
Geographies covered (26): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Japan, China, India, South Korea, Malaysia, Thailand, Vietnam, Philippines, Australia, Brazil, Mexico, Argentina, South Africa, Nigeria, Egypt, Morocco, Saudi Arabia, UAE
Segments covered: Technology, Application, End-use and Region
Companies covered (10): Abaxis Inc., Abbott Laboratories, BioMérieux SA, Bio-Rad Laboratories, Danaher Corporation, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, Sysmex Corporation, VIRCELL S.L, Mesa Biotech
Growth Drivers:
  • Increasing incidence of infectious diseases in developed and developing economies
  • Increasing R&D funding to reduce time required for molecular diagnostics test
  • Growing awareness in developing countries about pre-disease diagnostics to control occurrence of diseases
  • Technological advancements in DNA sequencing and analysis
Pitfalls & Challenges:
  • Long product development line
  • Complex regulatory process

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Emergence of innovative isothermal amplification methods will boost the industry growth

The isothermal amplification technology segment is estimated to witness around 9% growth rate during the forecast period. Increasing adoption of novel methods in isothermal amplification such as loop-mediated isothermal amplification (LAMP) impels the market demand. LAMP technology is among the widely used methods as it has several benefits including ease of use, rapid, and low cost set up.
 

Surging prevalence of infectious diseases globally will create a huge demand for PoC molecular diagnostics testing

Global Point of Care Molecular Diagnostics Market By Application

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Infectious disease segment captured over 47% point of care molecular diagnostics market share in 2019. Rising incidence of infectious diseases will stimulate the demand for point of care molecular diagnostic equipment to identify causative agents and further control the spread of disease.
 

Similarly, surging prevalence of HIV globally will stimulate the segment growth. For instance, according to Department of Health & Human Services about 38 million people were affected with HIV/AIDS in 2019. Also, majority of people suffering from HIV are in low- and middle-income countries creating a need for point of care molecular diagnostics devices for remote locations. Thus, rising need of early diagnosis and rapid commencement for the treatment and control of infectious diseases will foster the market value.
 

Increasing preference towards clinics will provide lucrative market growth opportunities

The clinics end-use segment is anticipated to expand at over 8.5% CAGR through 2026. Access to less expensive and portable point of care molecular diagnostics systems that assist in timely and accurate patient diagnostics in low resource areas will surge its adoption rate in clinics. Furthermore, clinics provide convenient access to quality care, manage healthcare spending as well as improves productivity.
 

Favorable government initiatives in European region will fuel the market expansion

Europe Point of Care Molecular Diagnostics Market By Country

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Europe’s point of care molecular diagnostics market size crossed USD 470 million in 2019 due to increasing availability and usage of PoC molecular diagnostics testing in the region. Increasing geriatric population base prone to variety of infectious diseases and surging life expectancy will propel the need for early diagnostics. Also, government is conducting several programs and campaigns to create awareness level among people regarding several infectious diseases.
 

Strategic initiatives adopted by key companies have enabled to strengthen their market position

Some of the leading players operating in the market include Abbott Laboratories, Bio-Rad Laboratories, Danaher, Sysmex, Vircell and Roche. The industry participants have adopted several strategic initiatives such as acquisitions, new product launches, that have provided financial stability and helped them to evolve as major market players.
 

Recent Industry Developments:

  • In April 2020, Siemens received FDA clearance for RapidPoint 500e blood gas analyzer. This strategy helps the company in strengthening its point of care molecular diagnostics product portfolio.
     
  • In January 2020, Hitado GmbH, a subsidiary of Sysmex Corporation signed distribution agreement with SphingoTec GmbH for commercialization of Nexus IB10 platform. This strategy was envisioned to enhance its distribution network, thereby securing its industry position in point of care molecular diagnostics.
     

The point of care molecular diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:
 

Market, By Technology

  • PCR
  • In situ hybridization
  • Sequencing
  • Isothermal amplification
  • Others

Market, By Application

  • Infectious disease
    • Flu
    • Respiratory syncytial virus (RSV)
    • Tuberculosis (TB)
    • Gonorrhea
    • Chlamydia
    • Hepatitis B
    • Hepatitis C
    • HIV
    • Others
  • Oncology
  • Hematology
  • Others

Market, By End-use

  • Hospitals
  • Clinics
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Malaysia
    • Thailand
    • Vietnam
    • Philippines
    • Australia
  • Latin America
    • Brazil
    • Argentina
    • Mexico
  • Middle East & Africa
    • South Africa
    • Nigeria
    • Egypt
    • Morocco
    • Saudi Arabia
    • UAE
       

Frequently Asked Questions (FAQ) :

In 2019, the global market size for PoC molecular diagnostics was worth USD 1.6 billion and may register 8% CAGR through 2026, driven by rising prevalence of chronic diseases.
The isothermal amplification technology segment may witness 9% CAGR through 2026, owing to rising adoption of new methods in isothermal amplification.
In 2019, infectious disease segment accounted for 47% of market share. The growth can be credited to massive surge in the incidence of infectious diseases.
The clinics end-use segment will register 8.5% CAGR through 2026 as clinics help improve productivity and provide easy access to quality care.
Europe market size, in 2019, exceeded USD 470 million and may observe appreciable gains owing to rising adoption of the technology in hospitals and clinics.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 140
  • Tables: 155
  • Charts / Figures: 8
  • Companies covered: 10
  • Countries covered: 26

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