According to the business intelligence report titled ‘Global Molecular Point of Care Diagnostics Market 2019-2028’, available with Market Study Report, global molecular point of care diagnostics market is speculated to grow at an annual rate of 14.05% between 2019-2028.
 

Surging demand for advanced diagnostic technologies due to rising spread of COVID-19, increasing incidence of infectious diseases across the world, and growing adoption of non-invasive diagnostic methods are the key growth stimulants for global molecular point of care diagnostics market.
 

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While rising expenditure on R&D activities and technological advancements will aid in revenue inflow, shortage of testing centers and high initial costs are poised to act as challenges for the market majors.  
 

Based on product gamut, worldwide molecular point of care diagnostics industry is divided into instruments, assays, and software. Speaking of application scope, the market sphere is split into infectious disease (hospital-acquired infections, respiratory, gastrointestinal infections, and hospital-acquired infections), prenatal, oncology, and others.
 

As per technology, the marketplace is categorized into polymerase chain reaction, digital PCR, real time PCR, and isothermal nucleic acid amplification technology segments. Moving on to end user spectrum, the industry is bifurcated into diagnostic centers, clinics, hospitals, and others.
 

From the regional frame of reference, Asia Pacific market is speculated to amass significant returns by 2028, primarily due to favorable government initiatives to encourage adoption of precision medicine solutions and flourishing demand for molecular point of care diagnosis by both physicians and patients.
 

Leading companies formulating the competitive landscape of global molecular point of care diagnostics market are Qiagen, Abbott Laboratories, Quidel Corporation, Luminex Corporation, Abacus Diagnostica Oy, QuantuMDx Group Limited, Biocartis Group, Spartan Bioscience Inc., Danaher Corporation, Mesa Biotech Inc., DiaSorin SpA, Hologic Inc., Bio-Rad Laboratories Inc., F.Hoffmann-La Roche AG, and bioMérieux SA.
 

These companies have been making strategic decisions such as mergers & acquisitions, product launches, collaborations, partnerships, and investments in R&D activities to enlarge their profit margins and strengthen their foothold in this business domain.