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The Global Molecular Point of Care
Diagnostics Market To Grow at 14.05%
CAGR by 2028
Triton Market Research presents the Global Molecular Point of Care Diagnostics Market report segmented
by Application (Oncology, Infectious Disease [Hospital-acquired Infections, Gastrointestinal Infections,
Respiratory, Sexually Transmitted Infections], Prenatal, Others), by Technology (Isothermal Nucleic Acid
Amplification Technology, Polymerase Chain Reaction [Digital PCR, Real-time PCR], Other), by End-user
(Clinics, Hospital, Diagnostic Centers, Others), by Geographical Region (North America, Europe, AsiaPacific, Latin America, Middle East and Africa), discussing Porter's Five Force Analysis, Drivers, Restraints,
Challenges, Vendor Scorecard, Global Market Size, Forecasts & Analysis (2019-2028).
A Triton Market Research report depicts that the Global Molecular Point of Care Diagnostics Market is
progressing at an annual growth rate of 14.05% in the forthcoming period 2019-2028. Molecular point of
care diagnostics refers to an assessment of health at a molecular level by detecting and measuring genetic
information in DNA (deoxyribose nucleic acid) or RNA (ribonucleic acid). It is very useful in the detection
of multiple defects associated with gene signatures.
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The wide spreading of coronavirus has caused an increase in the demand for diagnostic technologies,
which is expected to push the growth of the molecular point of care diagnostics market. The growing
demand for advanced healthcare services like non-invasive diagnosis tests and the rising cases of
infectious or communicable diseases also drive the global market growth. However, the market is facing
the restraint of high capital requirements. Lack of complex testing centers is also challenging the market.
Asia-Pacific is anticipated to be the fastest-growing region in the molecular point of care diagnostics
market in the projected period. The increasing health awareness among the people, constantly developing
economy and the resultant affordability of the consumers are the essential factors driving the regional
North America is likely to be the largest molecular point of care diagnostics market over the coming years.
The presence of advanced research and development projects, particularly in the field of genetics, is the
fundamental driver of the market growth in the North American region.
The key players in the molecular point of care diagnostics market are Qiagen, Luminex Corporation,
Hologic Inc, Danaher, DiaSorin SpA, F Hoffmann-La Roche Ltd, Mesa Biotech, QuantuMDx Group Ltd,
Quidel Corporation, Biomerieux SA, Abacus Diagnostica, Abbott, Bio-Rad Laboratories Inc, Biocartis and
Spartan Biosciences Inc. Since the market is dominated by the top five companies, it is considered
consolidated in nature. Companies are trying to offer advanced products in the market to retain their
position in the global market. The competition is intense as there is a huge capital cost involved, making
the exit barriers high.
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