July 20, 2020
According the recent study titled ‘Global Molecular Diagnostics (MDx) Point of Care Market Analysis, 2020’, available with Market Study Report LLC, global molecular diagnostics (MDx) point of care market is projected to register a year-over-year growth rate of 13% over 2020-2025.
Rising burden of infectious diseases, evolving healthcare infrastructure, growing patient inclination towards home care, and favorable government norm & initiatives are slated to amplify the remuneration potential of global molecular diagnostics (MDx) point of care market, cites the report.
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On the contrary, lack of proper arrangement for test results from laboratories, coupled with stringent & tedious approval process are expected to impede the global molecular diagnostics point of care market growth over the forecast duration.
Based on product terrain, global MDx point of care market is categorized into assays, software, and services. The foremost segment is presumed to acquire majority market share over the analysis period, fueled by the demand from specialty clinics, hospital critical care units, delivery centers, and other healthcare services.
Considering the regional outlook, global MDx point of care market is divided into North America, South America, Asia Pacific, Europe, and Middle East & Africa. North America was the leading contributor to the overall market revenue in 2019 and is expected to follow similar growth trends during the study period.
Asia Pacific MDx point of care market, on the other hand, is set to showcase a strong CAGR of 15.89% over 2020-2025, claims the report.
The competitive arena of global molecular diagnostics point of care market constitutes of companies namely, Quidel Corp., Trinty Biotech, Becton Dickison, EKF Diagnostics, Danaher Corp., Roche Diagnostics, Johnson & Johnson, Siemens Healthineers, Luminex Corp., DxNA LLC Group Ltd., F. Hoffmann-La Roche Ltd., QIAGEN N.V, Hologic, Inc., Mesa Biotech, and Abbott Laboratories. These companies are actively engaged in partnerships and new product development to improve their market stance.
For instance, in 2019, Abbott Laboratories collaborated with Sanofi on glucose sensing and insulin delivery technologies. In the same year, VENTANA PD-L1 (SP142) was launched by Roche Diagnostics, which can determine triple negative breast cancer patients who can undergo treatment with TECENTRIQ (atezolizumab).