The global POC molecular diagnostics market research report by Technavio predicts the market to post a CAGR of close to 14% during the period 2019-2023.
A key driver for the global POC molecular diagnostics market is the growing number of M&A and collaborations. The large companies have been increasingly acquiring and collaborating with specialized POC molecular diagnostic companies to expand their product portfolio. Therefore, the parent companies have reduced internal costs, which are required for product development, clinical study, and regulatory approvals.
This global POC molecular diagnostics market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising focus on next-generation products as one of the key trends in the global POC molecular diagnostics market:
Global POC molecular diagnostics market: Rising focus on next-generation products
There has been an increasing demand for POC molecular diagnostics due to the shift from curative medicine to predictive, personalized, and preemptive medicine. This shift when blended with advances in the field of biosensors, smartphones, wearables, and lab-on-a-chip is going to improve the market condition. The advances in the field of information technology are providing ease of transmission by electronically recording and transferring the data captured.
The lab-on-a-chip diagnostics system is formed based on the disposable, single-use, credit card sized, plastic cassette that hosts a microfluidic network for sample processing and analysis. Therefore, several companies have been choosing this advancement to broaden their product and service portfolios, says a senior analyst at Technavio for research on health care equipment and services.
Global POC molecular diagnostics market: Segmentation analysis
This POC molecular diagnostics market analysis report segments the market by application (infectious diseases, oncology, hematology and endocrinology, and others), technology (PCR (gene sequencing) and microarray and hybridization), and geography (the Americas, APAC, and EMEA).
The infectious diseases segment held the largest POC molecular diagnostics market share in 2018, accounting for more than 45% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with around 56% of the market share, followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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