#Point of Care Molecular Diagnostics Market

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Point of Care Molecular Diagnostics Market Size, Overview, Share and Forecast 2031

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Point of Care Molecular Diagnostics Market Partnering Deals of Key Players 2023 - 2028

The Insight Partners proudly announces the release of the latest market research on “Global Point of Care Molecular Diagnostics Market | Size, Share, Statistics, and Forecast” . This trailblazer market research aims to present unparalleled insights into the Point of Care Molecular Diagnostics market. This report presents the current market scenario and attempts to forecast future market size, share, and opportunities for businesses.

This analysis is our commitment to deliver strategic business insights to companies willing to strive in competitive dynamic market space. The Insight Partners covered all dynamics of the Point of Care Molecular Diagnostics market including key trends, challenges, and several opportunities that businesses might have in the future.

Global Point of Care Molecular Diagnostics Market Outlook

This chapter covers several variables that affect business. Future expectations for the Point of Care Molecular Diagnostics market are combined with the economies of scale delineated by market size, growth rate, and compound annual growth rate. To examine demand drivers and constraints before other market actors, this chapter is even more crucial. Companies may better manage their goods and place themselves in the market gap by understanding market trends.

Analysis of the business environment based on several models is provided in this section. Businesses must streamline their success and income streams to be competitive in the Point of Care Molecular Diagnostics industry. Businesses may map the economic, environmental, and legal issues and update their unique selling propositions.

Business Impact of Covid-19

Travel restrictions during COVID-19 led to a decline in sales and supply chain metrics resulted in budget cuts. Many manufacturers had to put projects on hold and companies struggled to recover their fixed costs in the absence of revenue streams. Dealing with sharp decline and managing supply-demand equilibrium Point of Care Molecular Diagnostics market players responded to the new normal. Through this section, Insight Partners attempts to present an analysis of the impact of Covid-19 on business operations.

Market Segmentation

Based on Product & Services of Point of Care Molecular Diagnostics Market Research report:

Assays and Kits

Instruments

and Services and Software

Based on Technology of Point of Care Molecular Diagnostics Market Research report:

PCR

Isothermal Nucleic Acid Amplification Technology (INAAT)

and Other Technologies

Based on Application of Point of Care Molecular Diagnostics Market Research report:

Infectious Diseases

Oncology

Hematology

Prenatal Testing

Endocrinology

and Other Applications

Based on End User of Point of Care Molecular Diagnostics Market Research report:

Hospitals and Clinics

Diagnostic Laboratories

Research and Academic Institutes

and Others

Based on Regions:

North America (U.S., Canada, Mexico)

Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)

Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)

Latin America (Brazil, Rest of Latin America)

The Middle East and Africa (Turkey, GCC, Rest of the Middle East and Africa)

Rest of the World…

Competitive Landscape

This section of the report offers an overview of key Point of Care Molecular Diagnostics market players- bioM?rieux SA, F. Hoffmann-La Roche Ltd., Danaher Corporation, Enzo Biochem, Inc., Abbott, binx health, Inc., Meridian BioScience, Inc., Biocartis, Quidel Corporation, Bio-Rad Laboratories, Inc.. This chapter further covers details on their strategic approach and market share. Learning about the competition matrix is highly recommended for new entrants in the Point of Care Molecular Diagnostics market, they can strategize success with details on market benchmarks.

Summary:

Market Size & Forecast by Revenue | Forecast Year

Market Dynamics – Market trends, growth drivers, restraints, and investment opportunities

Market Segmentation – Segments based on types, end-users, applications, and key regions

Competitive Landscape – Key market players and their strategies

Strategic Recommendations The Insight Partners presents actionable insights to empower businesses in making informed decisions based on industry evidence. These lucrative suggestions intend to offer our clients a competitive edge over their competitors.

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Point of Care Molecular Diagnostics Market is experiencing boost at an infinite speed By 2032 | Johnson and Johnson, Abbott Laboratories, F. Hoffmann-La Roche AG

Point of Care Molecular Diagnostics Market is experiencing boost at an infinite speed By 2032 | Johnson and Johnson, Abbott Laboratories, F. Hoffmann-La Roche AG

The research report studies the Global Point of Care Molecular Diagnostics market 2023-2032 using a robust research methodology to provide accurate and in-depth information about the industry. For a clearer understanding, it is structured into several chapters and sections to cover different aspects of the industry. The data analysts have used primary and secondary research to seek authentic…

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Point Of Care Molecular Diagnostics Market - Major Industry Growth Driving Factors

Point Of Care Molecular Diagnostics Market – Major Industry Growth Driving Factors

This report studies the Point Of Care Molecular Diagnostics Market with many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. Find the complete Point Of Care Molecular Diagnostics Market analysis segmented by companies, region, type…

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The U.S. point-of-care molecular diagnostics market size was valued at USD 4.90 billion in 2023 and is anticipated to reach around USD 5.86 billion by 2033, growing at a CAGR of 1.8 % from 2024 to 2033.

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In the rapidly growing field of the U.S. point-of-care molecular diagnostics market size was estimated at USD 4.90 billion in 2023 and is projected to hit around USD 5.86 billion by 2033, growing at a CAGR of 1.8% during the forecast period from 2024 to 2033.

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Point-of-care Molecular Diagnostics Market Sales, Revenue and Market Share by Regions Analysis and Forecasts to 2032

Per the point-of-care molecular diagnostics market survey by Future Market Insights (FMI), the market is forecasted to move forward at an average pace and register a CAGR of 8% from 2022 to 2032.

Many current POC diagnostics are based on lateral flow immunoassay technology, and these instruments use antibodies to detect the presence of an analyte, such as cancer biomarkers, in a short period and thus, having the effect of spurring the point-of-care molecular diagnostics market growth to a large extent. As per the point-of-care molecular diagnostics market report, the demand for point-of-care molecular diagnostics is on a surge owing to the growing trend toward preventive medicine. This is considered to shape the point-of-care molecular diagnostics future trends to a large extent.

According to United Nations data, the number of older adults has steadily increased for decades. As a result of this demographic shift, the prevalence of various chronic diseases is rising, thereby facilitating the adoption of point-of-care molecular diagnostics devices. The study finds that current cancer diagnostic methods are invasive (for example, cystoscopy, which involves inserting a hollow tube/cystoscope installed with a lens into the urethra and bladder to diagnose cancer). However, less invasive methods, such as point-of-care molecular tests, can be available for point-of-care cancer diagnostics, broadening the point-of-care molecular diagnostics opportunities.

Though most of the industries’ overall sales of molecular diagnostics dwindled steeply due to the COVID-19 pandemic and the use of molecular diagnostic methods for COVID-19 testing, it had a positive impact on the point-of-care molecular diagnostics market size. As countries gradually slacken their restrictions on movement, there is a resurgence in testing numbers. Aside from vaccines and therapeutic drugs, there is an increasing demand for the development of more precise and simple testing technologies and the expansion of testing structures.

Key Takeaways

The assays and kits segment is expected to account for a significant chunk of the POC molecular diagnostics market based on the product type. The market growth of this segment is being driven by the widespread purchase of these products’ POC diagnostic devices as a result of their frequent usage. The RT-PCR segment is expected to dominate the point-of-care molecular diagnostics market in terms of technology, owing to the increasing use of RT-PCR in proteomics, genomics, and COVID-19 testing and the availability of portable, easy-to-use POC devices.

The respiratory diseases segment is projected to lead the POC molecular diagnostics market on account of the shift of concentration by key players on various strategies for developing advanced point-of-care diagnostics devices.

By end-use, the hospital bedside segment is expected to witness the most significant point-of-care molecular diagnostics market share due to the rising adoption of advanced instruments in these settings and rapid investments in hospital infrastructure by the public and private sectors in emerging countries. The Asia Pacific region is expected to proliferate due to the expansion of key market players, a lack of sophisticated central laboratory point-of-care molecular testing services, and the potential cost-effectiveness of POC molecular diagnosis.

“The North American market is expected to be at the forefront of the point-of-care molecular diagnostics market, attributable to the United States’ emerging trends in point-of-care molecular diagnostics market such as well-organized health-care system. In addition, the system promotes research and development. These policies encourage foreign players to enter the United States and the North American market. As a result, many global market players are present in this region, and the market is projected to flourish as high demand is met by the presence of global players in the region.” opines an FMI researcher.

Competitive Landscape

The top point-of-care diagnostics companies are developing most point-of-care molecular diagnostic tests and have established their market position by investing more in research and developing a better distribution system.

The entry of new players challenges the semi-consolidated market and may result in intense competition during the forecast period.

Furthermore, due to increased awareness, the Asia-Pacific region is seeing the emergence of some minor players, which aided the point-of-care molecular diagnostics market growth.

Danaher Corporation (US), Alere Inc. (US), Quidel Corporation (US), Biocartis Group NV (Belgium), bioMérieux SA (France), Thermo Fisher Scientific (US), Mesa Biotech Inc. (US), F. Hoffmann-La Roche Ltd., and Meridian Bioscience Inc. (US) are the critical point-of-care diagnostic companies profiled in the global POC molecular diagnostics market.

Recent developments in the point-of-care molecular diagnostics market are as follows:

The World Health Organization (WHO), Africa Centers for Disease Control and Prevention (Africa CDC), the Bill & Melinda Gates Foundation, the Clinton Health Access Initiative (CHAI), the Foundation for Innovative New Diagnostics (FIND), and the Global Fund constituted a global partnership. Today, the organization announced the launch of the COVID-19 rapid test in low and middle-income countries. Mylab Discovery Solutions has collaborated with Hemex Health, the United States company, to develop next-generation diagnostic solutions for coronavirus and another point-of-care diagnostic testing.

Point-of-care Molecular Diagnostics Market Key Segments

By Product & Service:

Assays & kits Instruments & Analyzers Software & Services

By Technology:

RT-PCR INAAT Other technologies

By Application:

Respiratory Diseases Sexually Transmitted Diseases Hospital-acquired Infections Cancer Hepatitis Gastrointestinal Disorders Other Applications

By End User:

Physicians’ Offices Hospitals & ICUs Research Institutes Other End Users

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Point of Care Molecular Diagnostics Market Size, Overview, Share and Forecast 2031

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5 Points That Makes Veterinary Pathology Book by CBS Publishers & Distributors the Best

Veterinary pathology is a vital branch of veterinary medicine that deals with the study of diseases in animals. Pathology testing aids in the accurate diagnosis and treatment of your pet by your veterinarian. As a result, animals stay healthier for longer and don't experience needless delays in receiving the finest care for their disease.

Additionally, it prevents your pet from experiencing unwanted side effects from ineffective medications and enables you to learn more about how their treatment is working.

Also, veterinary pathology programs for disease screening and prevention that advance the general health and well-being of our community heavily rely on veterinary pathology. The pathology industry is contributing to a healthy future for all animals by minimising the effects of avoidable and treatable diseases in our pets.

All this hard work in veterinary pathology requires excellent knowledge and comprehension. This is why reading veterinary pathology books that help you gain in-depth knowledge regarding the same is extremely important. While there are many great books available in the market, there is a place only for one winner.

The Veterinary Pathology book by CBS Publishers & Distributors is surely it. This book is a comprehensive guide that covers all the essential aspects of veterinary pathology. Here are five points that make this book the best choice for anyone interested in veterinary pathology:

1. Comprehensive coverage: The Veterinary Pathology book covers all the major organ systems in animals, including the respiratory, cardiovascular, digestive, urinary, and reproductive systems. It surely is your one-stop solution for all the apprehensions about an animal’s body. It also covers various infectious diseases, neoplastic diseases, and inherited disorders. This is especially beneficial owing to the post covid times, where animals have been seen to undergo several side effects. This comprehensive coverage makes it an excellent resource for veterinarians, veterinary students, and animal health professionals.

2. Easy to understand: while reading any course book, the primary concern is how easily apprehensive the book is at a solitary level. The book is written in a clear and concise manner, making it easy to understand even for those with little or no knowledge of veterinary pathology. Be it a beginner or a pro, everyone can refer to this book, owing to its high standard of academic adjustments as well as basic knowledge cognizance. It uses illustrations and diagrams to explain complex concepts and processes, making it more engaging and interactive. This is especially beneficial for all the visual learners out there!

3. Up-to-date information: The book is regularly updated with the latest research and advances in the field, ensuring that the information provided is accurate and current. Many researchers and scientists are affiliated with CBS Publishers & Distributors. They make sure that every new version is equipped with the latest and most relevant knowledge. This gives an edge to veterinary pathology professionals, helping them understand everything in a more holistic manner. It also includes case studies and examples to help readers apply the concepts they have learned. A total winner for all healthcare providers.

4. Practical approach: while theoretical knowledge is very important, it cannot beat a practical setting. The Veterinary Pathology book takes a practical approach to teach, making it ideal for the students to have a practical outlook on everything they read. It helps in providing readers with the skills and knowledge they need to apply what they have learned in real-life situations. It includes chapters on diagnostic techniques, such as histopathology, cytology, and molecular diagnostics, helping readers develop the skills they need to diagnose and treat diseases in animals.

5. Comprehensive resources: In addition to the extensive information provided in the book, CBS Publishers & Distributors also offer a range of additional resources to supplement the learning experience. These include online quizzes, study guides, and practice tests, making it easier for readers to test their understanding and prepare for exams. This gives them an edge of advantage over the other available set of Veterinary Pathology books.

Overall, the Veterinary Pathology book by CBS Publishers & Distributors is the perfect one-stop solution book for anyone interested in knowing about veterinary pathology. It is an excellent resource for people who are healthcare animal professionals as well. Its comprehensive coverage, easy-to-understand writing style, and practical approach make it the best choice for veterinarians, veterinary students, and animal health professionals.

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In Vitro Diagnostics Market: Revolutionizing Healthcare with Advanced Diagnostics

The In Vitro Diagnostics (IVD) market plays a pivotal role in the healthcare industry, offering essential tools for disease diagnosis, treatment monitoring, and overall patient care. With advancements in diagnostic technology and the rising demand for personalized medicine, the IVD market is experiencing rapid growth. This article provides a detailed overview of the market trends, segmentation, key drivers, and leading companies in the IVD industry, offering valuable insights for decision-makers.

Market Overview

According to SkyQuest's In Vitro Diagnostics Market report, the global market is currently valued at USD 87.93 Billion in 2023, with a projected CAGR of 5.3% over the forecast period. The market is driven by the increasing prevalence of chronic diseases, advancements in diagnostic technologies, and the growing demand for early and precise disease detection.

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Market Segmentation

By Product Type:

Reagents and Kits: Essential components used in diagnostic procedures across a range of diseases.

Instruments: Include advanced diagnostic tools like analyzers, molecular diagnostic machines, and point-of-care devices.

Software & Services: Diagnostic software for accurate test results and integrated solutions for laboratories.

By Technology:

Immunoassays: Widely used for infectious diseases and cancer diagnosis.

Molecular Diagnostics: Key in genetic testing and precision medicine applications.

Clinical Chemistry: Essential for routine testing and biomarker identification.

Microbiology: Used to identify pathogens and guide antibiotic therapies.

Hematology: Focuses on blood-related diagnostics such as complete blood count (CBC).

Others: Encompasses emerging technologies like proteomics and metabolomics.

By Application:

Infectious Diseases: Dominating the market due to the global rise in bacterial, viral, and fungal infections.

Oncology: Growing demand for early cancer diagnostics and targeted treatments.

Cardiology: Vital in diagnosing cardiovascular diseases and risk factors.

Diabetes: Includes blood glucose monitoring and HbA1c testing for diabetes management.

Other Applications: Includes diagnostics for autoimmune diseases, nephrology, and neurology.

By End-User:

Hospitals and Clinics: Major centers for diagnostic testing and patient care.

Diagnostic Laboratories: Specializing in high-volume testing across various disease areas.

Homecare Settings: Growing segment due to increasing demand for at-home diagnostic kits.

Academic and Research Institutes: Driving innovation in diagnostic tools and techniques.

Key Growth Drivers

Rising Prevalence of Chronic Diseases: Increasing cases of cancer, diabetes, and cardiovascular diseases fuel the demand for diagnostic tools.

Advancements in Technology: Development of rapid, accurate, and minimally invasive diagnostic methods is boosting the market.

Growing Demand for Personalized Medicine: The focus on tailored treatments and early diagnosis is driving the adoption of molecular diagnostics.

Expansion of Point-of-Care Testing (POCT): The shift towards decentralized testing is increasing the demand for portable and easy-to-use diagnostic devices.

Read More at: - https://www.skyquestt.com/report/in-vitro-diagnostics-market

Leading Companies in the Market

SkyQuest’s In Vitro Diagnostics Market report identifies key players that are shaping the market, including:

Roche Diagnostics

Abbott Laboratories

Siemens Healthineers

Danaher Corporation

Thermo Fisher Scientific

bioMérieux SA

Becton, Dickinson and Company

QIAGEN

Sysmex Corporation

Agilent Technologies

Take Action Now: Secure Your Report Today - https://www.skyquestt.com/buy-now/in-vitro-diagnostics-market

Challenges and Opportunities

The IVD market faces challenges such as stringent regulatory frameworks and high costs of diagnostic devices, especially in emerging markets. However, opportunities lie in the growing adoption of telemedicine, increased government funding for healthcare infrastructure, and technological advancements that enable faster and more precise diagnostic results.

Future Outlook

The In Vitro Diagnostics Market is expected to experience robust growth as healthcare providers increasingly rely on advanced diagnostics for effective patient care. Companies that invest in innovation and cater to the rising demand for point-of-care and home-based testing will have a competitive edge in this dynamic market.

As diagnostics play a critical role in healthcare, the In Vitro Diagnostics Market is poised for significant growth. Decision-makers should stay informed about emerging trends and technological advancements to leverage the full potential of this market. For more detailed insights and strategies, consult SkyQuest’s comprehensive In Vitro Diagnostics Market report.

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Point of Care Diagnostics: Revolutionizing Healthcare with Real-Time Testing

The Advent of Quick and Accurate Medical Testing Point of Care Diagnostics have emerged as a groundbreaking development in the medical field by enabling accurate testing to be done quickly and conveniently. Traditional diagnostic methods usually require samples to be sent to a centralized laboratory for analysis, which can delay vital treatment decisions by several days. However, point-of-care tests provide results within minutes using portable devices, bringing testing closer to the patient. This revolutionary approach is transforming healthcare delivery. Rapid Testing for Better Patient Outcomes By facilitating timely diagnosis, point-of-care testing leads to better patient outcomes. Speedy detection of conditions like infections or chronic diseases allows doctors to prescribe appropriate treatment without delay. For example, point-of-care tests are commonly used in emergency rooms to quickly identify heart attacks, strokes or life-threatening infections. Getting fast diagnostic results is crucial for such medical emergencies as it ensures patients receive the right therapy as soon as possible. The timely administration of antibiotics, anti-clotting medications or other critical treatments improves survival rates and recovery. Patient Comfort and Convenience Besides clinical benefits, Point of Care Diagnostics enhance patient comfort and convenience. People no longer have to wait anxiously for days to learn about their health while potentially worsening conditions go untreated. With devices that analyze samples on-site, patients get actionable results during the same clinical visit when treatment decisions are made. This spares them follow-up trips to the doctor or lab and unnecessary stress. Home testing using self-administered point-of-care kits even allows monitoring health remotely while maintaining independence. Finger-prick blood samples or urine specimens are all that's needed, eliminating difficulties obtaining specimens. More Efficient Use of Resources Speedy diagnostic testing optimizes use of limited healthcare resources. Quick turnaround times avoid unnecessary reliance on expensive treatments initiated just to address uncertainty in diagnoses. Point-of-care devices reduce laboratory workloads too by decentralizing testing. Moreover, decentralized testing is vital for resource-constrained settings like rural areas, refugee camps or developing countries where access to centralized labs is limited. Portable devices overcome infrastructure barriers and enable basic medical services even in remote areas. This promotes healthcare equity globally. A Proliferation of Diagnostic Platforms Rapid technological progress has enabled the development of varied point-of-care testing systems. Examples include paper microfluidic devices, electrochemical sensors, molecular diagnostics platforms and portable ultrasound machines integrated with imaging analysis software. Immunology-based tests detecting proteins or antibodies through lateral flow or microarray methods are commonly used for conditions like infections and cardiac markers. Molecular diagnostic platforms employ techniques like polymerase chain reaction (PCR) for swift nucleic acid amplification and analysis of viruses or genetic markers. Newer technologies like CRISPR gene editing also hold promise as a basis for point-of-care genetic testing. With ongoing research, the types of conditions examinable at the point of care continue expanding in scope and complexity. Get more insights on Point Of Care Diagnostics

Also read related article on Gastroesophageal Reflux Disease Treatment Devices Market

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

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Meticulous Research® Unveils New Report: Africa IVD Market Poised to Reach $1.65 Billion by 2031

Meticulous Research®, a global leader in market research and consulting, has released a new report titled ‘Africa IVD Market Size, Share, Forecast & Trends Analysis by Offering, Technology (Immunoassay, PoC, Molecular Diagnostics, Coagulation), Application (Infectious Diseases, Diabetes, Oncology), Diagnostic Approach (Lab, OTC, PoCT), End User – Forecast to 2031.’ According to the latest findings, the Africa in vitro diagnostics (IVD) market is projected to grow at a compound annual growth rate (CAGR) of 3.1%, reaching $1.65 billion by 2031.

Download Sample Report Here : https://www.meticulousresearch.com/download-samplereport/cp_id=5415

Market Growth Drivers and Challenges

The expansion of the Africa IVD market is driven by multiple factors, including the rising prevalence of chronic and infectious diseases, increased investments from IVD companies, growing demand for point-of-care (PoC) and rapid diagnostics, and a burgeoning geriatric population. Furthermore, supportive government initiatives aimed at bolstering Africa's healthcare sector and increasing healthcare expenditure are playing a significant role in the market's development.

However, market growth is being restrained by the high costs of advanced IVD products, variations in test results for rapid diagnostics, and the stringent regulatory requirements for high-complexity diagnostic tests. On the other hand, advancements in genomics and proteomics, heightened awareness of early diagnosis, and the increasing adoption of personalized medicine are expected to create significant opportunities for market players. Despite these promising trends, uneven access to healthcare and a shortage of trained healthcare professionals remain critical challenges.

Check complete table of contents with list of table and figures:

Market Segmentation and Key Insights

The report provides detailed insights into the market, segmented by offering, technology, application, diagnostic approach, and end user:

By Offering: The market is segmented into reagents & kits, instruments, and software & services. The reagents & kits segment is expected to grow at the highest CAGR of 3.3% during the forecast period, driven by increased diagnostic test volumes for infectious diseases, particularly malaria and tuberculosis, and various initiatives aimed at improving healthcare access across Africa.

By Technology: In 2024, the immunoassay/immunochemistry segment is projected to account for the largest market share at 34.5%. This is largely due to immunoassay technology's efficient and accurate diagnostics for highly prevalent diseases such as HIV, malaria, and dengue in Africa, along with its cost-effectiveness and continuous development of new biomarkers.

By Application: The infectious diseases segment is expected to dominate the market in 2024, fueled by the widespread prevalence of diseases like COVID-19, dengue, and HIV. Increasing awareness of diagnostic testing and the availability of low-cost rapid test kits are key factors driving this segment’s growth.

Quick Buy:  https://www.meticulousresearch.com/Checkout/47708335

By Diagnostic Approach: Point-of-care testing (PoCT) is projected to witness the highest growth during the forecast period, driven by the rising demand for immediate diagnostic results, especially in remote and underserved regions.

By End User: Hospitals and clinics are expected to grow at the highest CAGR between 2024 and 2031. Factors such as the increasing number of hospitalizations for chronic diseases, rising healthcare expenditure, and the willingness of hospitals to adopt advanced diagnostic tools are contributing to this growth.

Geographic Insights

The report also provides an in-depth analysis of various African countries, including South Africa, Nigeria, Egypt, Algeria, Morocco, Kenya, Tunisia, Côte d’Ivoire, Tanzania, Cameroon, and the Rest of Africa. South Africa is projected to grow at the highest CAGR of 8.3% during the forecast period. The growth in South Africa is driven by increased healthcare expenditure, expanded access to diagnostic tools through partnerships and collaborations, and favorable government policies aimed at enhancing healthcare infrastructure.

Competitive Landscape

Key players in the Africa IVD market include Abbott Laboratories (U.S.), Becton, Dickinson and

Company (U.S.), bioMérieux SA (France), Danaher Corporation (U.S.), F. Hoffmann-La Roche

Ltd (Switzerland), QIAGEN N.V. (Netherlands), Siemens Healthineers AG (Germany), Thermo

Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Illumina, Inc. (U.S.), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China). These industry leaders continue to invest in the region, driving innovation and expanding their presence in the African market.

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Key Questions Addressed in the Report:

What is the current revenue generated by IVD products in Africa?What are the projected growth rates for the Africa IVD market over the next 5–7 years?What are the key drivers, opportunities, and challenges affecting this market?Which market segments are generating the most traction in terms of offering, technology, and application?Which countries in Africa offer significant growth opportunities for market participants? Who are the leading players, and what products and strategies are they employing in the Africa IVD market?What recent developments are shaping the competitive landscape?

Contact Information

Meticulous Research®

Email: sales@meticulousresearch.com

Phone: +1-646-781-8004

LinkedIn: Connect with us

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New Study: 2024-2030 In Vitro Diagnostics Market Trend and Forecast Report

In Vitro Diagnostics Industry Overview

The global in vitro diagnostics (IVD) market size was estimated at USD 77.92 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030. The growth can be attributed to increasing adoption of IVD owing to a rise in the incidence of infectious and chronic diseases. The development of automated IVD systems for laboratories and hospitals to provide efficient, accurate, and error-free diagnoses is expected to fuel market growth. The rising number of IVD products being launched by key players is also fueling market growth. For instance, in November 2023, ARUP Laboratories received a CE mark from EU-IVDR for AAV5 DetectCDx, a companion diagnostic to select the eligibility of severe hemophilia A-affected patients for BioMarin’s new gene therapy, Roctavian.

Gather more insights about the market drivers, restrains and growth of the In Vitro Diagnostics Market

Technological advancements in terms of accuracy, portability, and cost-effectiveness are expected to be one of the high-impact rendering drivers of this market. Introduction of novel and highly accurate clinical laboratory tests is boosting the adoption of novel IVD tests worldwide. In June 2023, Toray Industries, Inc. received marketing approval from Japan’s Ministry of Health, Labour and Welfare for its Toray APOA2-iTQ used to diagnose pancreatic cancer. Moreover, in March 2023, Abbott received U.S. FDA clearance for its novel laboratory Traumatic Brain Injury (TBI) blood test in the U.S. Increasing approvals of IVD tests for life-threatening diseases are expected to create new opportunities in the untapped market.

Key players in the market undertake various strategies to strengthen their position and offer their customers diverse, technologically advanced & innovative products. New product launches and partnerships are the most prominently adopted by companies to attract more customers. For instance, in March 2023, BD received 510(k) clearance for BD Vaginal Panel on the BD COR System to detect infectious causes of vaginitis. In August 2023, the Precision Medicine Centre (PMC) formed a partnership with the Regional Molecular Diagnostic Service (RMDS) to implement genomic technology for the diagnosis of cancer in Northern Ireland.

Favorable initiatives undertaken by government and non-government bodies to improve overall healthcare services are anticipated to increase market growth. In October 2023, the WHO published the Essential Diagnostics List (EDL), a comprehensive list of IVD products that helps countries make decisions regarding diagnostic tools. It provides evidence-based recommendations and ensures the accessibility of essential products for target people. Moreover, in August 2023, the Africa CDC collaborated with the Africa Development Agency-New Partnership for Africa's Development (AUDA-NEPAD) to increase access to diagnostic tests across Africa. Such initiatives are expected to boost market growth.

A rise in the geriatric population and growth in knowledge regarding early testing have led to a surge in the number of regular check-ups, as a majority of deaths due to infections and chronic conditions occur in the population aged over 75 years. As per the Office for Budget Responsibility, UK, healthcare costs have risen exponentially, which can create economic pressure on nations with rapidly growing geriatric population. However, this expenditure is anticipated to translate positively for the IVD industry, driving market growth.

Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.

• The global point of care infectious disease testing market size was valued at USD 11.40 billion in 2023 and is projected to grow at a CAGR of 4.3% from 2024 to 2030.

• The global transplant diagnostics market size was valued at USD 5.97 billion in 2023 and is projected to grow at a CAGR of 7.3% from 2024 to 2030.

Key Companies & Market Share Insights

Some of the key players operating in the in vitro diagnostics market include F. Hoffmann-La Roche Ltd.; Abbott; Quest Diagnostics Inc.; and Danaher. Market players are adopting various strategies, such as new product launches, mergers & acquisitions, and partnerships, to strengthen their product portfolios and offer diverse technologically advanced & innovative products.

Llusern Scientific, Biocartis Group NV, ARUP Laboratories, Veracyte, and Exact Sciences Corp are some of the emerging market participants in the market. Emerging companies are actively involved in developing novel and accurate IVD testing products to improve overall health services. Moreover, these companies are collaborating with research institutes, government bodies, and global leaders to increase the range of their products in potential markets.

Key In Vitro Diagnostics (IVD) Companies

Abbott

bioMérieux SA

QuidelOrtho Corporation

Siemens Healthineers AG

Bio-Rad Laboratories, Inc.

Qiagen

Sysmex Corporation

Charles River Laboratories

Quest Diagnostics Incorporated

Agilent Technologies, Inc.

Danaher Corporation

BD

F. Hoffmann-La Roche Ltd

Recent Developments

In December 2023, ARUP Laboratories and Medicover collaborated to provide diagnostic and healthcare services in Europe. ARUP Laboratories has developed AAV5 DetectCDx in collaboration with BioMarin Pharmaceutical Inc. to select therapies for severe hemophilia A patients

In November 2023, Veracyte joined Illumina to develop molecular tests for decentralized IVD applications. Companies are focusing on the development of Prosigna breast cancer and Percepta nasal swab tests of Veracyte

In October 2023, Promega Corporation announced its plan to develop and commercialize companion diagnostics kits with GSK Plc to identify cancer patients with MSI-H solid tumors

In February 2023, Unilabs announced investing over USD 200 million in Siemens Healthineers' technology and acquiring more than 400 laboratory analyzers to strengthen its laboratory infrastructure

In February 2023, F. Hoffmann-La Roche Ltd. collaborated with Janssen Biotech Inc. to develop companion diagnostics for targeted therapies. Companion diagnostic technologies include digital pathology, NGS, PCR, immunoassays, and immunohistochemistry

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The global demand for rapid influenza diagnostic tests (RIDT) was valued at USD 1.2 Billion in 2022 and is expected to reach USD 1.99 Billion in 2030, growing at a CAGR of 7.5% between 2023 and 2030.The global Rapid Influenza Diagnostic Test (RIDT) market has witnessed significant growth over the past decade, driven by the rising prevalence of influenza, increased awareness about early diagnosis, and the need for quick, cost-effective diagnostic solutions. RIDTs have become a cornerstone in the management of influenza, particularly in clinical settings where time-sensitive decisions are crucial.

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Market Dynamics

1. Growing Incidence of Influenza: Influenza, a highly contagious viral infection, affects millions of people worldwide each year. Seasonal flu outbreaks, coupled with periodic pandemics, have underscored the importance of early diagnosis and treatment. RIDTs, which can provide results within 15-30 minutes, have become a preferred choice for healthcare providers. The World Health Organization (WHO) estimates that annual influenza epidemics result in 3 to 5 million cases of severe illness and 290,000 to 650,000 respiratory deaths globally, emphasizing the critical need for rapid and accurate diagnostics.

2. Technological Advancements: Advances in immunoassay technology have significantly improved the sensitivity and specificity of RIDTs. Modern RIDTs can detect influenza A and B viruses with a high degree of accuracy, even in the early stages of infection. The incorporation of digital readout systems, which reduce human error and improve result interpretation, has further enhanced the reliability of these tests. Moreover, the development of multiplex RIDTs, capable of detecting multiple pathogens simultaneously, is expected to drive market growth in the coming years.

3. Rising Awareness and Government Initiatives: Increased awareness among healthcare providers and the general public about the benefits of early influenza diagnosis has contributed to the widespread adoption of RIDTs. Governments and health organizations worldwide have launched initiatives to promote influenza testing, particularly in high-risk populations such as the elderly, young children, and individuals with chronic health conditions. In the United States, for example, the Centers for Disease Control and Prevention (CDC) strongly recommend influenza testing during flu season, especially for hospitalized patients and those with severe symptoms.

Market Segmentation

The RIDT market can be segmented based on product type, end-user, and region.

1. By Product Type: - Digital RIDTs:These tests offer electronic results and often connect to digital platforms for data analysis and reporting. They are increasingly preferred due to their ease of use and improved accuracy. - Conventional RIDTs: These are traditional lateral flow immunoassays that provide qualitative results (positive/negative) within minutes. They are widely used in point-of-care settings due to their simplicity and low cost.

2. By End-User: - Hospitals and Clinics: RIDTs are extensively used in emergency departments and outpatient clinics for the rapid diagnosis of influenza, enabling timely treatment and reducing the spread of the virus. - Diagnostic Laboratories: Although less common than molecular tests in this setting, RIDTs are sometimes used in labs for their quick turnaround time, particularly during flu season. - Home Care Settings: The availability of over-the-counter RIDTs has expanded their use to home care, allowing individuals to test themselves for influenza and seek medical advice based on the results.

3. By Region: - North America: The largest market for RIDTs, driven by high healthcare spending, advanced infrastructure, and strong government support for influenza testing. - Europe: The market in Europe is also substantial, with increasing adoption in countries like Germany, the UK, and France. The focus on public health and preventative care fuels demand. - Asia-Pacific: This region is expected to witness the fastest growth, owing to increasing healthcare expenditure, rising awareness, and the growing incidence of influenza in countries like China, Japan, and India.

Challenges and Opportunities

Despite the growing adoption of RIDTs, the market faces several challenges. One of the main issues is the lower sensitivity of RIDTs compared to molecular diagnostic tests like RT-PCR. False-negative results can lead to missed diagnoses, particularly in patients with low viral loads. This limitation has led to a push for the development of more sensitive RIDTs that can rival molecular tests in accuracy.

On the other hand, the COVID-19 pandemic has heightened awareness about the importance of rapid diagnostic tests, presenting new opportunities for the RIDT market. The experience with COVID-19 testing has accelerated advancements in rapid diagnostic technologies, which could be leveraged to improve RIDTs.

Key Players

Alere Inc

Quidel Corporation

DiaSorin

Meridian Bioscience Inc

SA Scientific Ltd

Becton

Dickinson & Company

Analytik Jena AG

Thermo Fisher Scientific

Roche Diagnostics

Luminex Corporation

Segmentation

By End User

Hospitals & Clinics

Laboratories

Others

By Region

North America

The U.S.

Canada

Mexico

Europe

Germany

France

The U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of the Middle East and Africa

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