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Asia Pacific Point-of-Care Molecular Diagnostics Market

Dublin, Dec. 26, 2022 (GLOBE NEWSWIRE) — The “Asia Pacific Point-of-Care Molecular Diagnostics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis by Products and Services, Technology, Applications and End User” report has been added ResearchAndMarkets.com’s offer.

According to our new research study on “Asia Pacific Point-of-Care Molecular Diagnostics Market to 2028 – Regional Analysis and Forecast – By Products and Services, Technology, Applications and End User,” the market is expected to reach USD 1,251.67 million in 2028 from $499.19 million in 2021; it is expected to grow at a CAGR of 14.0% from 2022 to 2028.

The growth of the market is primarily attributed to the growing demand for specific virus detection methods that use less time for timely infection control and increasing prevalence of infectious diseases. Moreover, rising R&D and innovation in Asia-Pacific molecular diagnostics is expected to fuel the market growth during the forecast period. However, the price pressure resulting from reimbursement cuts is hampering market growth.

The COVID-19 pandemic has had a significant positive impact on the point-of-care molecular diagnostics market. Amid the pandemic, the increased demand for diagnostic kits for rapid detection of COVID-19 has fueled the adoption of point-of-care testing worldwide. The increasing number of COVID-19 cases and the growing pressure on various governments worldwide to improve patient management have fueled the demand for rapid antigen test kits that can be effectively used in point-of-care environments.

Based on products and services, the Asia-Pacific molecular diagnostics market is segmented into assays & kits, instruments & services, and software. The assays & kits segment is leading the market and is expected to register the highest CAGR during the forecast period.

Based on technology, the Asia-Pacific molecular diagnostics market is segmented into PCR, Isothermal Nucleic Acid Amplification Technology (INAAT), and other technologies. The PCR segment leads the market, while the isothermal nucleic acid amplification technology (INAAT) segment is expected to register the highest CAGR during the forecast period.

By application, the Asia-Pacific molecular diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. The infectious diseases segment holds the largest share of the molecular diagnostics market in Asia Pacific. However, the oncology segment is expected to register the highest CAGR in the market during the forecast period.

By end-user, the Asia-Pacific molecular diagnostics market is segmented into hospitals and clinics, diagnostic laboratories, research and academic institutes, and others. The diagnostic laboratory segment is leading the market and is estimated to register the highest CAGR in the market during the forecast period.

Point-of-care (POC) molecular tests are accurate and scalable, increasing disease diagnosis capabilities that can be performed in the community and outside the laboratory environment. Compared to laboratory tests, point-of-care molecular diagnostics offer various advantages such as fewer clinic visits, shorter hospital stays, better optimization of drug therapy and less inappropriate use of drugs.

The healthcare sector is undergoing a huge transformation due to the emergence of new and effective technologies across the sector. Thus, the growing demand for efficient diagnostics that consume less time than laboratory testing drives the demand for POC molecular assays and kits, driving the growth of the Asia Pacific point-of-care molecular diagnostics market during the forecast period.

Market dynamics

Market drivers

  • Increasing demand for specific viral detection methods that use less time for timely infection control
  • Increasing incidence of infectious diseases

Market Restrictions

  • Price pressure due to reimbursement cuts

Market opportunities

  • Increasing R&D and Innovation in Point-of-Care Molecular Diagnostics

Future trends

  • Increasing implementation of molecular point-of-care diagnostic devices and kits across residential areas
Report attribute details
Number of pages 208
Forecast period 2022 – 2028
Estimated market value (USD) in 2022 $499.19 million
Expected market value (USD) in 2028 $1251.67 million
Compound annual growth rate 14.0%
Regions covered Asia and the Pacific

Key topics covered:

1. Introduction

2. Asia Pacific Point-of-Care Molecular Diagnostics Market – Key Opportunities

3. Research methodology

4. Point-of-Care Molecular Diagnostics Market- Market landscape

5. Point-of-Care Molecular Diagnostics Market – Key Market Dynamics

6. Point-of-Care Molecular Diagnostics Market-Asia Pacific Analysis

7. Point-of-Care Molecular Diagnostics Market Analysis and Forecast to 2028 – By Product and Services

8. Point-of-Care Molecular Diagnostics Market Analysis and Forecast to 2028 – By Technology

9. Point-of-Care Molecular Diagnostics Market Analysis – By Application

10. Point-of-Care Molecular Diagnostics Market Analysis and Forecast to 2028 – By End User

11. Asia Pacific Point-of-Care Molecular Diagnostics Market – Geographical Analysis

12. Impact of COVID-19 Pandemic on Point-of-Care Molecular Diagnostics Market

13. Point-of-Care Molecular Diagnostics Market-Industry Landscape

14. Company Profiles

15. Supplement

Mentioned companies

  • bioMerieux SA
  • F. Hoffmann-La Roche Ltd.
  • Danaher Corporation
  • Enzo Biochem, Inc.
  • Abbott
  • binx health, inc.
  • Meridian BioScience, Inc.
  • Biocartis
  • Quidel Corporation
  • Bio-Rad Laboratories, Inc.

For more information on this report visit https://www.researchandmarkets.com/r/egm4eg

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