Global point of care molecular diagnostics market estimated to reach USD 3.9 billion by 2024

global point of careAccording to a report published by Grand View Research, the global point of care molecular diagnostics market is projected to reach USD 3.9 billion by 2024. The major factor behind the expected growth of the market is increasing research & development to make small-sized molecular diagnostics testing devices that provide enhanced near patient testing with high accuracy & lesser turnaround times. Other factors include rising demand for CLIA tests that are portable and safe to be used in non-laboratory settings such as pharmacy clinics, physician offices and home-care settings. The Polymerase Chain Reaction (PCR)-based point of care tests accounted for the largest share of the market in 2015. North America is the most lucrative market and is estimated to account for over 40% of the global revenue. Key players operating in this industry include Johnson & Johnson, Danaher, Cepheid, Bio-Rad Laboratories, bioMerieux, Becton Dickinson, Roche Diagnostics, Bayer Healthcare, Alere, and Abbott Laboratories.

(Image courtesy: GEN)

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