Point of Care Molecular Diagnostics Market Key Growth Strategies Adopted by Key Players

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.

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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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