The Asia Pacific Point of Care Molecular Diagnostics Market would witness market growth of 10.7% CAGR during the forecast period (2023-2030).
The market is seeing significant growth in a major trend called technological innovation. Major players in the point-of-care molecular diagnostics market are concentrating on offering cutting-edge technology solutions to improve their market position. These businesses are adopting next-generation point-of-care molecular diagnostics technologies and related services, including DNA microarrays, spectral karyotyping imaging, mass spectrometry, enzyme-linked immunosorbent assay (ELISA), PCR, and ELISA, as well as in situ hybridizations, spectral karyotyping imaging, ELISA, and ELISA.
For instance, the molecular point-of-care test for detecting novel COVID-19 (COVID-19) was introduced by Abbott Laboratories, a US-based manufacturer of medical devices, in March 2020. According to the manufacturer, the gadget displays positive findings in five minutes and negative results in thirteen. The ID NOWTM platform, which uses isothermal nucleic acid amplification technology to provide molecular results in a matter of seconds, will be used for this test.
China and Japan are two of the most afflicted Asian nations, and it is projected that Japan's elderly population will rise significantly. More than 20% of the nation's population is over 65. A diversified, heavily populated area with 4.2 billion people, Southern, Eastern, and South-Eastern Asia accounts for 55% of the world's population. As a result, the demand in Asia Pacific is anticipated to increase as a result of the growth in cancer cases, the dearth of sophisticated central laboratory testing facilities, the need for clinical testing among a wider population, and the possibility for PoC molecular assays to be implemented at a reasonable cost.
The China market dominated the Asia Pacific Point of Care Molecular Diagnostics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $299.2 million by 2030. The Japan market is anticipated grow at a CAGR of 10% during (2023 - 2030). Additionally, The India market would witness a CAGR of 11.4% during (2023 - 2030).
Based on Product & Service, the market is segmented into Assays & Kits, Instruments & Analyzers and Software & Services. Based on End User, the market is segmented into Physicians Offices, Hospitals & ICUs, Research Institutes and Others. Based on by Technology, the market is segmented into RT-PCR, Isothermal Nucleic Acid Amplification Technology (INAAT) and Others. Based on Application, the market is segmented into Respiratory Diseases, Hospital-acquired Infections, Sexually Transmitted Diseases, Cancer, Hepatitis, Gastrointestinal Disorders and Others.Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Point of Care Molecular Diagnostics Market is Projected to reach USD 4.1 Billion by 2030, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., Qiagen N.V., Danaher Corporation, Bio-Rad Laboratories, Inc., BioMerieux S.A., Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., and Nova Biomedical Corporation.
By Product & Service
By End User
By Technology
By Application
By Country
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