According to recently published report by Research Nester on “Point of Care Genetic Testing Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the point of care genetic testing in terms of market segmentation by technology, end use and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The point of care genetic testing market segmented by technology into polymerase chain reaction, hybridization, chips and microarrays; by end use into decentralized labs, hospitals, assisted living healthcare facilities and by region. The point of care (POC) genetic testing market is anticipated to record a CAGR of 15.4% over the forecast period i.e. 2019-2027.
Progresses in innovation have enabled a lot more tests to be finished by the patient's side. POC genetic testing results can be accessed more rapidly resulting in quicker treatment. Diagnostics by advanced equipment is rising rapidly into the field of infectious disease, with devices now being used to identify disease and test viral load and anti-microbial susceptibility.
North America is likely to observe substantial growth in the point of care genetic testing market on the back of high per capita health care expenditure, increasing prevalence of various diseases and availability of better and advanced health care facilities. Also, new product launches and technological advancements are anticipated to drive the market in this region over the forecast period. The rising incidence rates of genetic disorders and infectious diseases in the European region especially in countries such as Germany, U.K., France & Italy are expected to drive the market in this region.
Asia pacific is expected to face a very high demand due to increase in population and rising government healthcare spending of developing economies such as China and India.
Middle East & Africa is expected to face a modest demand in the market over the forecast period due to gradually increase in the usage of different advanced products that has been observed in these countries. Numerous government and private organizations are working towards development of efficient point of care diagnostic systems to address the increasing demand in the region.
However, technical impediments, programming inconveniences, greater expense of support, high expense and limited reimbursement are expected to operate as a key restraint to the growth of point of care genetic testing market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the point of care genetic testing market which includes company profiling of Accriva Diagnostics, Accubiotech Co, Ltd, Acon Laboratries, Inc., Arkray, Alere Inc, Atlas genetics Ltd., Beckman Coulter, Inc., Atlas Link Biotech Co., Ltd, Bioptix, Biomeme, Inc and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the point of care genetic testing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.