#Point of Care Molecular Diagnostics market size

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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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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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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.

Request  Sample PDF Copy Here:  https://www.meticulousresearch.com/request-samplereport/cp_id=5415

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?

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Meticulous Research®

Email: sales@meticulousresearch.com

Phone: +1-646-781-8004

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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

Order a free sample PDF of the In Vitro Diagnostics Market Intelligence Study, published by Grand View Research.

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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.

Browse the full report at https://www.credenceresearch.com/report/rapid-influenza-diagnostic-test-ridt-market

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

Browse the full report at https://www.credenceresearch.com/report/rapid-influenza-diagnostic-test-ridt-market

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

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𝑴𝒊𝒄𝒓𝒐𝒔𝒄𝒐𝒑𝒆𝒔 𝑴𝒂𝒓𝒌𝒆𝒕: 𝑨 𝑪𝒍𝒐𝒔𝒆𝒓 𝑳𝒐𝒐𝒌 𝒂𝒕 𝒕𝒉𝒆 𝑭𝒖𝒕𝒖𝒓𝒆

𝑫𝒐𝒘𝒏𝒍𝒐𝒂𝒅 𝒂 𝑭𝑹𝑬𝑬 𝑺𝒂𝒎𝒑𝒍𝒆: https://www.nextmsc.com/microscopes-market/request-sample

The microscopes market is witnessing a transformative era driven by technological advancements, increasing research activities, and growing healthcare demands.

𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉:

The Microscopes Market size is predicted to reach 13.01 billion with a CAGR of 8.7% by 2030.

𝑲𝒆𝒚 𝑻𝒓𝒆𝒏𝒅𝒔:

𝑫𝒊𝒈𝒊𝒕𝒂𝒍 𝑴𝒊𝒄𝒓𝒐𝒔𝒄𝒐𝒑𝒚: The integration of AI and machine learning with digital microscopy is enhancing image analysis, making diagnostics faster and more accurate.

𝑷𝒐𝒓𝒕𝒂𝒃𝒍𝒆 𝑴𝒊𝒄𝒓𝒐𝒔𝒄𝒐𝒑𝒆𝒔: The demand for portable and handheld microscopes is rising, especially in field research and point-of-care diagnostics.

𝑺𝒖𝒑𝒆𝒓-𝑹𝒆𝒔𝒐𝒍𝒖𝒕𝒊𝒐𝒏 𝑴𝒊𝒄𝒓𝒐𝒔𝒄𝒐𝒑𝒚: Advances in super-resolution techniques are enabling scientists to observe biological processes at the molecular level, opening new frontiers in biomedical research.

𝑯𝒆𝒂𝒍𝒕𝒉𝒄𝒂𝒓𝒆 𝑰𝒎𝒑𝒂𝒄𝒕:

Microscopes play a crucial role in disease diagnosis and research, from identifying pathogens to studying cellular responses. Their application in cancer research, neurology, and personalized medicine is particularly noteworthy.

𝑨𝒄𝒄𝒆𝒔𝒔 𝑭𝒖𝒍𝒍 𝑹𝒆𝒑𝒐𝒓𝒕: https://www.nextmsc.com/report/microscopes-market

𝑴𝒂𝒓𝒌𝒆𝒕 𝑷𝒍𝒂𝒚𝒆𝒓𝒔:

Various market players operating in the microscopes market include Bruker Corp., CAMECA, Danaher Corporation, Hitachi High-Tech Corp., JEOL Ltd., Nikon Corp., Olympus Corp., Oxford Instruments (Asylum Corporation), Thermo Fisher Scientific, Inc., and Zeiss Group.

𝑭𝒖𝒕𝒖𝒓𝒆 𝑶𝒖𝒕𝒍𝒐𝒐𝒌:

As we move forward, the microscopes market will continue to expand, with emerging technologies like nanotechnology and quantum imaging poised to revolutionize the field.

Let's keep an eye on this dynamic market as it shapes the future of science and healthcare.

[marketsreport]

Clinical Laboratory Services Market Growth & Trends 2024 - 2032

IMARC Group has recently released a new research study titled “Clinical Laboratory Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global clinical laboratory services market size reached US$ 244.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 383.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5% during 2024-2032.

Clinical Laboratory Services Market Overview

Clinical laboratory services involve a wide range of tests on clinical specimens like blood, urine, sputum, stool, and various tissues to detect diseases and monitor health conditions. These services are integral to patient care, assisting in disease diagnosis, treatment, and prevention. Clinical laboratory services can be characterized by their broad spectrum of testing capabilities. They encompass routine tests such as blood counts and glucose checks, complex genetic and molecular testing, and monitoring drug levels for therapeutic purposes. Accuracy, precision, and timely reporting are crucial elements in these services. The features of clinical laboratory services include testing versatility, with services split into categories such as clinical chemistry, microbiology, haematology, immunology, molecular diagnostics, and others. Automation is a key feature in modern clinical laboratories, improving efficiency, accuracy, and speed. Point-of-care testing, which enables rapid results at the patient's location, is another evolving feature in this sector. Clinical laboratory services find their application mainly in the healthcare industry. Hospitals, clinics, diagnostic centres, and research laboratories extensively use these services. They're also essential in pharmaceutical and biotechnology companies for drug discovery, development, and trials. Additionally, they're utilized in academic institutions for teaching and research purposes, as well as in public health departments for epidemiological studies.

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Global Clinical Laboratory Services Market

The aging population, which is more susceptible to various diseases, is driving the demand for clinical laboratory services. In addition, the increasing prevalence of chronic diseases is fueling the growth of the market. Technological advancements in laboratory equipment and procedures are stimulating the market growth. The growth of personalized medicine, requiring extensive lab testing, is boosting the market growth. The rising awareness about preventive healthcare is propelling the demand for regular health check-ups and lab tests. The expansion of healthcare infrastructure in developing regions is driving the market growth. The increased healthcare spending and investment in diagnostic services are promoting the growth of the market. The introduction of innovative diagnostic tests and procedures is boosting the market growth. The growing demand for early disease detection and diagnosis is fueling the market growth. The rise in lifestyle-related diseases is escalating the need for clinical laboratory services. The increasing emphasis on improving patient outcomes is driving the market growth. The growing demand for molecular and genetic testing is contributing to the market growth. The increased public-private partnerships in the healthcare sector are propelling the market growth. The trend of home healthcare and self-testing is boosting the demand for point-of-care lab services. The increasing demand for lab tests in drug discovery and clinical trials is driving the market growth. The integration of advanced data analytics in lab services for improved diagnosis is driving the market. Other factors such as the rising disposable income, increasing demand for lab tests in nutritional and environmental studies and government initiatives to improve healthcare services are driving the growth of the market across the globe.

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Key Companies:

Abbott Laboratories

Becton

Dickinson and Company

bioMérieux SA, Charles River Laboratories

Hoffmann-La Roche Ltd

Illumina Inc.

NeoGenomics Laboratories Inc.

Quest Diagnostics Incorporated

Siemens Healthcare GmbH (Siemens AG)

Thermo Fisher Scientific Inc.

Clinical Laboratory Services Market Report Segmentation:

Breakup by Test Type:

Human and Tumor Genetics

Clinical Chemistry

Medical Microbiology and Cytology

Others

 Breakup by Service Provider:

Hospital-Based Laboratories

Stand-Alone Laboratories

Clinic-Based Laboratories

 Breakup by Application:

Bioanalytical and Lab Chemistry Services

Toxicology Testing Services

Cell and Gene Therapy Related Services

Preclinical and Clinical Trial Related Services

Drug Discovery and Development Related Services

Others

Breakup by Region:

North America

Asia-Pacific

Europe

Latin America

Middle East and Africa

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Key Highlights of the Report:

Market Performance (2018-2023)

Market Outlook (2024-2032)

Market Trends

Market Drivers and Success Factors

Impact of COVID-19

Value Chain Analysis

Comprehensive mapping of the competitive landscape

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[blueweave]

Brazil Diagnostic Labs Market size by value at USD 8.93 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Brazil Diagnostic Labs Market size to expand at a CAGR of 9.75% reaching a value of USD 13.65 billionby 2030. The Brazil Diagnostic Labs Market is primarily driven by the increasing prevalence of chronic diseases and the growing aging population. As conditions such as diabetes, cardiovascular diseases, and cancer become more widespread, there is a heightened demand for diagnostic testing to facilitate early detection and effective management. Additionally, the aging population in Brazil, which is more susceptible to health issues, further propels the need for comprehensive diagnostic services. This demographic shift necessitates advanced diagnostic solutions to cater to the complex healthcare needs of older adults, thereby expanding the market.

By volume, BlueWeave estimated the Brazil Diagnostic Labs Market size at 21,890 units in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Brazil Diagnostic Labs Market size to expand at a CAGR of 9.21% reaching a volume of 22,173 units by 2030. Technological advancements and the rising adoption of personalized medicine also significantly contribute to the growth of the diagnostic labs market in Brazil. Innovations in diagnostic technologies, such as molecular diagnostics, next-generation sequencing, and point-of-care testing, enhance the accuracy and efficiency of diagnostic procedures. These advancements make it possible to provide more precise and timely diagnoses, improving patient outcomes. Moreover, the increasing emphasis on personalized medicine, which tailors treatment plans based on individual genetic profiles, drives the demand for sophisticated diagnostic tests. Together, these factors foster a robust environment for the growth and expansion of diagnostic laboratories across Brazil.

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Molecular Oncology Market - Forecast(2024 - 2030)

Molecular Oncology Market Overview

Molecular Oncology Market size is projected to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026. Molecular oncology is the branch of medical science that helps to reduce the problems of cancer. Various tests are performed in blood for detecting DNA and RNA. Molecular oncology helps to provide a detailed information for the treatment of cancer and provide rapid results. Molecular oncology has various usage in clinical and point-of-care (POC) testing for the quick detection of cancer. Increasing prevalence of cancer owing to changing lifestyle and rising adoption of advanced technologies in order to provide detection of various kinds of cancer is the major factor driving the growth of this market. Furthermore, increasing number geriatric population and rising research and development activities is set to further enhance the overall market demand for Molecular Oncology Market for the period 2021-2026.

Molecular Oncology Market Report Coverage

The report: “Molecular Oncology Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Molecular Oncology Market.

By Type: Breast Cancer, Prostate Cancer, Colorectal Cancer, Cervical Cancer, Liver Cancer, and Others

By Technology: In Situ Hybridization, PCR, Isothermal Nucleic Amplification, and Others

By End-Use Industry: Hospitals, Clinics, Diagnostics Centers, and Others

By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)

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Key Takeaways

Geographically, in 2020, North America dominated the Molecular Oncology Market owing to growing prevalence of cancer disease, rising advancement technology for the treatment of care and rising healthcare infrastructure increases the growth in healthcare sector and are rising the growth of this region.

Increasing prevalence of cancer owing to changing lifestyle and rising adoption of advanced technologies in order to provide detection of various kinds of cancer are likely to aid in the market growth of the Molecular Oncology. 

Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Molecular Oncology Market report.

High cost of molecular diagnostic testing technologies is set to create hurdles for the Molecular Oncology Market.

Molecular Oncology Segment Analysis – By Type

The Molecular Oncology Market based on Type can be further segmented into Breast Cancer, Prostate Cancer, Colorectal Cancer, Cervical Cancer, Liver Cancer, and Others. The Breast Cancer segment is the major segment producing revenue in 2020. According to World Health Organization (WHO), in 2020 about 2.3 million women are diagnosed with breast cancer that increases the demand of molecular oncology diagnostics treatment and are increasing the growth of this market. The Prostate Cancer segment is estimated to register the fastest CAGR of 1.05% for the period 2021-2026. This is mainly owing to changing living lifestyle that changes the consumption patterns which increases the prostate cancer and are increasing the growth of this market. 

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Molecular Oncology Segment Analysis – By End-Use Industry

The Molecular Oncology Market based on End-Use Industry can be further segmented into Hospitals, Clinics, Diagnostics Centers, and Others. The Hospitals segment registers for the highest Molecular Oncology market share in 2020. This is mainly owing to availability of skilled healthcare professional, well-resourced operating & diagnostic rooms and improved hospital-based healthcare services that increases the preference of hospitals among people and are increasing the growth of this market. The Diagnostic Centers segment is forecast to register the fastest CAGR of 2% over 2021-2026. This is mainly owing to availability of advanced technology for the diagnosis of cancer that are increasing the growth of this market.

Molecular Oncology Segment Analysis – By Geography

North America dominated the Molecular Oncology Market with major share of 40% in 2020. This is owing to the growing prevalence of cancer disease, rising advancement technology for the treatment of care and rising healthcare infrastructure increases the growth in healthcare sector are rising the growth of this region. Moreover, various U.S. based companies such as, Roche Molecular Systems, Inc. are developing Cobas EGFR Mutation Test for lung cancer patients that increases development in technology and are rising the growth of this market.

However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 3.05% during the forecast period 2021-2026 owing to increasing geriatric population and changing in lifestyle.

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Molecular Oncology Market Drivers 

Growing Prevalence of Cancer Disease

The rising cases of cancer disease among population is a major factor that are increasing the growth of this market. According to World Health Organization, in 2020 about 10 million deaths occur owing to increasing cancer cases that increases the demand of molecular oncology testing and are rising the growth of the Molecular Oncology Market over 2021-2026.

Rising Adoption of Advanced Technologies

Increasing technological development helps for the treatment of cancer diseases that increases the demand of molecular oncology testing and are increasing the growth of this Market. Moreover, rising adoption of advanced technologies such as PCR, multiplex PCR helps to detect cancer that increasing the growth of Molecular Oncology Market over 2021-2026.

Covid-19 Impact:

COVID-19 pandemic had greatly impacted the growth of Molecular Oncology Market. Owing to pandemic, there is social distancing, remote working that reduces the supply in healthcare industry and are negatively impacted the growth of this market.

Molecular Oncology Market Challenges 

High Cost of Technologies

The factors that is set to impede the growth of the Molecular Oncology Market are the high cost of molecular diagnostics testing technologies that is set to create hurdles for the Molecular Oncology Market. 

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Molecular Oncology Landscape

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Molecular Oncology Market. Molecular Oncology top 10 companies are Becton, Dickinson, and Company, Danaher Corporation, Roche Diagnostics, Abbott Laboratories, Cepheid, Qiagen NV, Siemens Healthineers, Bayer AG, ICON Plc, Dako, and GE Healthcare.

Developments

In February 2019, ICON plc has acquisition with MolecularMD. This acquisition enhances molecular diagnostic testing including next-generation sequencing, and immunohistochemistry (IHC).

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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.

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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.

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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?

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