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According to Technavio analysts, the POC molecular diagnostics market share is expected to increase by USD 1.83 billion from 2021 to 2026 at an accelerating CAGR of 14.67%. The report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
The POC molecular diagnostics market research report extensively covers POC molecular diagnostics market segmentation by product (PCR and microarray and hybridization), application (infectious diseases, oncology, hematology and endocrinology, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).
The POC molecular diagnostics market vendors studied and compiled in this report include Abbott Laboratories, Becton Dickinson and Co., binx Health Inc., Co-Diagnostics Inc., Danaher Corp., F. Hoffmann La Roche Ltd., genedrive plc, Lucira Health Inc., Molbio Diagnostics Pvt. Ltd., OraSure Technologies Inc., QIAGEN NV, QuantuMDx Group Ltd., Randox Laboratories Ltd., Robert Bosch GmbH, Siemens AG, Sysmex Corp., Talis Biomedical Corp., Thermo Fisher Scientific Inc., bioMerieux SA, and Quidel Corp. among others.
Download the Free Report Sample to Unlock the POC Molecular Diagnostics Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing geriatric population is notably driving the POC molecular diagnostics market growth, although factors such as strained laboratory budgets and lowering reimbursements affecting instrument sales may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the POC molecular diagnostics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key POC Molecular Diagnostics Market Driver
Key POC Molecular Diagnostics Market Trend
Key POC Molecular Diagnostics Market Challenge
This POC molecular diagnostics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global POC molecular diagnostics market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the POC molecular diagnostics market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the POC molecular diagnostics market encompasses successful business strategies deployed by the key vendors. The POC molecular diagnostics market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The POC molecular diagnostics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the POC molecular diagnostics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for POC molecular diagnostics in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
The increasing prevalence of chronic diseases, rising demand for robust systems for continuous real-time patient monitoring, continuous technological advances, presence of developed healthcare infrastructure, increasing healthcare expenditure, and the strong presence of key vendors will facilitate the POC molecular diagnostics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
There has been a positive impact on the market growth during and post COVID-19 era. Pharmaceutical companies in North America have been prioritizing research and development of COVID-19-related treatments, health technologies, and vaccines and looking at the potential of using existing treatments.
Such initiatives will further support the growth of the regional POC molecular diagnostics market during the forecast period
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The POC molecular diagnostics market share growth by the PCR segment will be significant during the forecast period. PCR can help in detecting or identifying infectious and chronic ailments. The increasing global prevalence of target diseases, as well as the shown usefulness of PCR analysis in the diagnosis and estimation of disease-causing bacteria, will drive demand for clinical diagnostic tests and drive market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the POC molecular diagnostics market size and actionable market insights on post COVID-19 impact on each segment.
POC Molecular Diagnostics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.67% |
Market growth 2022-2026 |
$ 1.83 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.4 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 44% |
Key consumer countries |
US, Canada, Germany, France, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, Becton Dickinson and Co., binx Health Inc., Co-Diagnostics Inc., Danaher Corp., F. Hoffmann La Roche Ltd., genedrive plc, Lucira Health Inc., Molbio Diagnostics Pvt. Ltd., OraSure Technologies Inc., QIAGEN NV, QuantuMDx Group Ltd., Randox Laboratories Ltd., Robert Bosch GmbH, Siemens AG, Sysmex Corp., Talis Biomedical Corp., Thermo Fisher Scientific Inc., bioMerieux SA, and Quidel Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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