Global Infectious Diseases Molecular Diagnostics Market Overview: Market Size, Share, and Forecast Analysis

The global point-of-care molecular diagnostics market size is anticipated to reach USD 3.86 billion by 2024 expanding at a CAGR of 14.4%, 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 and 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 governments of developed countries.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 PoC molecular diagnostics market.Further key findings from the study suggest:Application of POC MDx tests for infectious diseases accounted for over 45% of market revenue in 2018 due to the presence of many major market entities with an extensive product portfolioGrowing burden of infectious diseases in both developing and developed countries is another factor responsible for the dominance of this segmentPCR-based POC tests is the largest revenue generating segment of the market in 2018.

Widespread usage of PCR-based techniques for molecular diagnosis and commercialization of POC real time PCR products have provided ample opportunities for segment growthNorth America was the largest region and accounted for 43.5% of the global revenue share due to the presence of technologically advanced medical framework, high R investments by governments and private organizations for the development of POC MDx testsKey companies in the market include Johnson & Johnson; Danaher Corp.; Cepheid, Inc.; Bio-Rad Laboratories, Inc.; bioMerieux; Becton, Dickinson and Company; F. Hoffmann-La Roche AG; Bayer HealthCare Pharmaceuticals LLC ; Alere, Inc.; (Abbott), and Abbott Laboratories 

Government initiatives for large scale collaborations of Point-of-Care molecular diagnostics for technical advancements and the changing lifestyle and increasing strategic initiatives such as product launch or collaboration are key factors contributing to the high CAGR of the market during the forecast period.Market Size – USD 656.5 Million in 2018, Market Growth - CAGR of 14.7%, Market Trends– Advancements in Point of Care molecular diagnostics like rapid testing and diagnosis According to the current analysis of Reports and Data, the global Point-of-care molecular diagnostics market was valued at USD 656.5 million in 2018 and is expected to reach USD 2.00 billion by the year 2026, at a CAGR of 14.7%.

Point-of-care molecular diagnostics have provided rapid actionable information to the patient and also quick results to the test diagnosis boosting the growth of the market.

The development of technology, which has made able to diagnose various infectious diseases at different sites with limited infrastructure, is expected to be the key driver boosting the market demand for POC molecular diagnostics.

An intense effort has been made to build on existing technologies and further to generate new technologies for the diagnosis of a broad spectrum of infectious diseases.A point-of-care (POC) test is done close by the site where a patient initially encounters the health care system so that it provides information that can achieve proper patient management.

Immunoassays such as ELISA (enzyme-linked immunosorbent assay) and RIA (radioimmunoassay) are used for the diagnosis of diseases for many individuals as it displays a high quality of test results rapidly.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2535The report provides a complete analysis of the global Point of Care Molecular Diagnostics  market with important details about the key market players from insightful primary and secondary research data.

The report also aims to benefit the user by providing constructive data to gain insight into the market growth, size, and investment approaches.The key companies profiled in the market are: Abbott Laboratories (US), Biomerieux (France), Danaher (US), Roche diagnostics (Switzerland), Meridian biosciences (US), Quidel (US), Johnson & Johnson (US), Cepheid(US), Bio-Rad Laboratories (US), Becton (US), Dickinson and Company (US), Alere, Inc. (US), Bayer health care pharmaceuticalsFurther key findings from the report suggestIn recent years there has been a drastic advancement in point-of-care diagnostics, as there were ongoing developments in biosensors, microfluidic, bioanalytical platforms, assay formats, lab-on-a-chip technologies, and complementary technologies.It has been a principal advantage that to prescribe treatment in the first case without having to wait for ending results updating the knowledge for the understanding of various molecular mechanisms, rare disorders and the development of DNA sequencing and analysis are the factors that are subjected to improve molecular diagnostics capabilities in point-of-care molecular diagnostics.The medical industry is advancing by the expansion of technology in order to expand molecular diagnostics.