Transparency Market Research in its new report titled, “Molecular Point-of-care Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” provides key insights on the molecular point-of-care diagnostics market. The new report anticipates that the quick and accurate results coupled with ability to carry out tests without laboratory set-up rapid will drive the molecular point-of-care diagnostics market during the forecast period i.e, 2017-2025.
The TMR report has split the global molecular point-of-care diagnostics market on the basis of application into infectious disease, oncology, autoimmune disease, hematology, and others. On the basis of test location, the market is bifurcated into point-of-care tests and over-the-counter tests. The market is also driven by consistent rise in emergency medical cases. The trend is shifting from hospital testing to point-of-care testing, where patients can be diagnosed in shortest possible time, and also reduce hospital stay. Increase in awareness about diseases and available diagnosis and treatment methods has given rise to the concept of ‘preventive health care’, with patients being actively involved in disease diagnosis.
The report states that the growing burden of diabetes and infectious diseases such as tuberculosis, dengue, malaria, flu, and so on have demanded better diagnosis services in short span of time such as molecular point-of-care diagnosis. Cases of drug abuse are also on the rise in the countries in the West. According to a survey conducted by the European Monitoring Centre for Drugs and Drug Addiction, Britain has the largest number of drug addicts in Europe. The survey also details that cannabis abuse is highest and cocaine abuse is rising rapidly. According to TMR, these incidences are anticipated to support the market growth during the forecast period.
Based on regional perspective, the global molecular point-of-care diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Majority of the molecular point-of-care diagnostics market is concentrated in North America and Europe owing to increase in demand for near patient testing and diagnosis of disease at molecular level. Asia Pacific is an emerging market and is expected to grow at a rapid pace during the forecast period due to increase in per capita income, vast population base, developing medical sector, and rise in trend for medical tourism. High cost of molecular point-of-care diagnostics and lack of awareness are likely to hamper the growth of the market in regions such as Latin America and Middle East & Africa.
Major players operating in the global molecular point-of-care diagnostics market are profiled in this report to give a better competitive analysis and these include Abbott, F. Hoffmann-La Roche Ltd., bioMerieux, Danaher, DiaSorin, Sysmex, and Siemens Healthineers.
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