Report: Asia Pacific Point-of-Care Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product & Services (Assays & Kits, Instruments, and Services & Software), Technology [PCR, Isothermal Nucleic Acid Amplification Technology (INAAT), and Other Technologies], Application (Infectious Diseases, Oncology, Hematology, Prenatal Testing, Endocrinology, and Other Applications), and End User (Hospitals & Clinics, Diagnostic Laboratories, Research & Academic Institutes, and Others)
Assays & Kits Segment to Lead Asia Pacific Point-of-Care Molecular Diagnostics Market During 2021–2028
According to our new research study on “Asia Pacific Point-of-Care Molecular Diagnostics Market to 2028 – Regional Analysis and Forecast – by Product & Services, Technology, Application, and End User,” the market is projected to reach US$ 1,251.67 million by 2028 from US$ 499.19 million in 2021; it is expected to grow at a CAGR of 14.0% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the Asia Pacific point-of-care molecular diagnostics market is primarily attributed to the growing demand for specific viral detection methods that consume less time for timely infection control and rising incidence of infectious diseases. However, pricing pressures owing to reimbursement cut hinder the market growth.
Governments in Asia-Pacific are taking possible steps to reduce the effects of COVID-19. Rising incidence of the disease is supporting the point-of-care molecular diagnostic market growth. The outbreak has propelled the launch of PCR tests for detection COVID-19; thus, the pandemic is boosting the performance of the molecular biology enzymes, kits, and reagents industry in the region. Moreover, in June 2021, J Mitra & Co Pvt Ltd., India, introduced its state-of-the-art COVID-19 detection kit in India. Further, in May 2021, Mylab Discovery solutions, India, introduced home testing kits based on RT-PCR for COVID-19 diagnosis. Along with this, the emergence of new COVID-19 waves in India, Thailand, and other Asian economies has highlighted the demand for point-of-care molecular diagnostic products. By May 2021, ~600 RT-PCR laboratories were set up in India as an effort to manage the pandemic, which raised the country’s screening capacity by 1,000-fold. Thus, COVID-19 has positive impact on Asia Pacific Point-of-Care Molecular Diagnostics Market.
Molecular point-of-care testing follows the basic approach like laboratory tests but automates a portion of the process. They provide a faster turnaround time since they can be performed in close proximity to patients rather than on a laboratory bench. Point-of-care (POC) molecular diagnostics improve the sensitivity and specificity of existing near-patient and rapid tests and expand diagnostic capabilities at points of care such as hospitals, clinics, critical care units, and healthcare centers. When assessing a patient's illness or monitoring a therapy response, POC molecular testing allows clinicians to make quick triage and treatment decisions. The testing also allows doctors to improve the standard of care by combining a speedy diagnosis with a treatment decision during the patient's first visit, rather than waiting hours or days for test results. Clinicians focus on providing effective and high-quality patient care by simplifying the testing procedure. Rising requirement for effective diagnosis and timely infection control drives the growth of the Asia Pacific point-of-care molecular diagnostics market.
Based on product & services, the Asia Pacific point-of-care molecular diagnostics market is segmented into assays & kits, instruments, and services & software. The assays & kits segment leads the market and is expected to register the highest CAGR during the forecast period. Point-of-care molecular diagnostic assays and kits are specifically designed for physician offices, hospital critical care units, outpatient clinics, and community health posts. The assays and kits help in the early diagnosis of respiratory tract infections and women’s health and sexual health conditions. The assay kits are mostly used in life science research, environmental monitoring, and drug discovery and development. They are also used in various applications such as studying disease pathways, screening for potential drug candidates, and evaluating biopharmaceutical production processes. The POC ELISA (enzyme-linked immunosorbent assay) kits are widely used for detecting and quantifying proteins and antigens from samples. Target-specific ELISA kits are used to streamline immunodetection experiments.
bioMérieux SA; F. Hoffmann-La Roche Ltd.; Danaher Corporation; Enzo Biochem, Inc.; Abbott; binx health Inc.; Meridian BioScience, Inc.; Biocartis, Quidel Corporation, and Bio-Rad Laboratories, Inc. are a few leading companies operating in the Asia Pacific point-of-care molecular diagnostics market.
The report segments Asia Pacific point-of-care molecular diagnostics market as follows:
The Asia Pacific point-of-care molecular diagnostics market is segmented on the basis of product & services, technology, application, and end user. Based on product & services, the market is segmented into assays & kits, instruments, and services & software. Based on technology, the market is segmented into PCR, isothermal nucleic acid amplification technology (INAAT), and other technologies. Based on application, the Asia Pacific point-of-care molecular diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. By end user, the market is segmented into hospitals & clinics, diagnostic laboratories, research & academic institutes, and others. Based on countries, the Asia Pacific point-of-care molecular diagnostics market is segmented into China, Japan, India, Australia, South Korea, Thailand, and Rest of Asia Pacific.
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