The
global point of care molecular diagnostics market is projected to reach
USD 1440.2 million by 2023 from USD 725.5 million in 2018, at a CAGR of 14.7%.
The POC molecular diagnostics market is
consolidated in nature with a number of
companies offering POC molecular diagnostics analyzers/instruments and assays
& kits. The major players operating in the global POC molecular diagnostic
market are Roche Diagnostics (US), Danaher (US), Abbott (US), and bioMerieux. Most companies focus on product launches and
approvals to compete in the market.
Roche is a leading player in
the POC molecular diagnostics market. The company operates in the POC molecular
diagnostics market through its molecular diagnostics segment. Products offered
by the company include assays and kits for infectious disease diagnostics. Geographically,
Roche operates in Europe, the Middle East and Africa, North America, Asia
Pacific, and Latin America. The company makes significant investments in
R&D activities to improve its existing product portfolio in the market. The
company invested ~13% of its life science business revenue into diagnostic
research and development in 2017. This R&D investment aimed at developing various
molecular diagnostics tests for infectious disease diagnosis. To remain competitive in the molecular POC diagnostics
market, the company focuses on organic growth strategies such as product
launches.
Danaher is a key player in the
market and it has maintained its leadership position in the POC molecular
diagnostics market through the acquisition of Cepheid. Danaher offers a vast
product portfolio for the point-of-care molecular diagnostics market. The company
offers small portable devices, assays, and kits for a range of end users,
including hospitals, physicians offices, and other critical care settings. The
company operates in North America, Europe, and Asia
Pacific. Danaher focuses on inorganic growth strategies such as acquisition for
growth in the molecular POC diagnostics market.
Some
of the other players competing in point-of-care molecular diagnostics market market are bioMerieux (France), Quidel
(US), Meridian Bioscience (US), Mesa Biotech (US), GenePOC (Canada), DxNA (US), Atlas Genetics (UK), Spartan
biosciences (Canada), and Biocartis (Belgium).
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