According to our latest study on “Point-of-Care Molecular Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product & Services, Technology, Application, and End User,” the market is projected to reach US$ 5,381.18 million by 2028 from US$ 2,230.94 million in 2021; it is expected to grow at a CAGR of 13.4% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the point-of-care molecular diagnostics market is primarily attributed to the growing demand for specific viral detection methods that consume less time for timely infection control and rising incidence of infectious diseases. However, pricing pressures owing to reimbursement cut hinder the market growth.
The developments in the point-of-care molecular diagnostics market have been characterized as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as launches, expansion, enhancement as well as relocation. Inorganic growth strategies witnessed in the market were mergers & acquisitions, partnership, collaborations, alliance, and agreement & joint ventures. These activities have paved way for expansion of business and customer base of market players.
According to our latest study on “Point-of-Care Molecular Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product & Services, Technology, Application, and End User,” the market is projected to reach US$ 5,381.18 million by 2028 from US$ 2,230.94 million in 2021; it is expected to grow at a CAGR of 13.4% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Get Sample Copy of Report PDF: https://www.theinsightpartners.com/sample/TIPRE00003144/
Based on application, the point-of-care molecular diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. In 2021, the infectious diseases segment held is projected to hold the largest share of the market. However, the market for the oncology segment is expected to grow at the fastest rate during the forecast period.
The US has the highest number of COVID-19 cases of all countries in North America. This has negatively impacted various industries, and supply and distribution chains in the region. During the pandemic, life science companies shifted their focus in the development of novel drugs for the treatment of life-threatening diseases. In addition, the demand for rapid testing equipment has also increased, which is playing a prominent role in the growth of the North America point-of-care molecular diagnostics market. Moreover, continuous spread of COVID-19 is bolstering the demand for point-of-care molecular diagnostic kits.
Market leaders operating in the market have undertaken various organic growth strategies in the Point-of-Care Molecular Diagnostics market. The point-of-care molecular diagnostics market majorly consists of the players bioMérieux SA, F. Hoffmann-La Roche Ltd., Danaher Corporation, Enzo Biochem, Inc., Abbott, binx health, Inc., Meridian BioScience, Inc., Biocartis, Quidel Corporation, Bio-Rad Laboratories, Inc. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
Browse More Information: https://www.theinsightpartners.com/reports/point-of-care-molecular-diagnostics-market
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: [email protected]