Get In Touch

Point-of-care diagnosis involves medical tests performed at or near a patient’s location. These tests can be performed outside a clinical laboratory, and primarily include diagnosis done at physician’s office, in an ambulance, or on-field diagnosis. Molecular diagnosis involves analysis of biological markers and has wide applications in disease monitoring and testing, risk analysis, cancer diagnosis, and others. These tests were designed as physicians needed quick analysis of samples to diagnose diseases and avoid complications. Traditional microbial testing methods were non-specific, lengthy, and time consuming procedures. Molecular diagnostics have armed doctors with highly specific, quick, and accurate diagnosis methods. Presently, point-of-care testing has become an integral part of the diagnostics market, and widely used in emergency rooms, community health centers, school health programs, and home testing.

Based on application, the global molecular point-of-care diagnostics market can be segmented into infectious disease, oncology, autoimmune disease, hematology, and others. In terms of test location, the market can be categorized into point-of-care tests and over-the-counter tests. The global molecular point-of-care diagnostics market is driven by quick and accurate results, and ability to carry out tests without laboratory set-up. The market is also driven by consistent rise in emergency medical cases. The trend is also 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. In 2007, Clinical Laboratory Improvement Amendments (CLIA) waiver policies were modified stating that FDA approved tests for home use also qualify for CLIA waiver. This boosted the growth of the home diagnostics market which is dominated by immunochromatography based cassette kits. These trends coupled with advances in the biotechnology sector are likely to propel the molecular point-of-care diagnostics market. Growing burden of diabetes and infectious diseases such as tuberculosis, dengue, malaria, flu, and many other diseases 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. These incidences also support market growth.

Geographically, the global molecular point-of-care diagnostics market can be 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 hamper the growth of the market in regions such as Latin America and Middle East & Africa.

Key players operating in the global molecular point-of-care diagnostics market include Abbott, F. Hoffmann-La Roche Ltd., bioMerieux, Danaher, DiaSorin, Sysmex, and Siemens Healthineers.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Molecular Point Of Care Diagnostics Market

Pre Book