North America Molecular Point of Care Testing (Using NAAT), By Product (Instruments And Consumables And Reagents), Indication (Respiratory Infections Testing, Sexually Transmitted Infection (STI) Testing, Gastrointestinal Tract Infections Testing And Others), End User ( Laboratories, Hospitals, Clinics, Home Care, Ambulatory Centers, Assisted Living Facilities And Others), Mode Of Testing ( Prescription-Based Testing And OTC-Based Testing), Distribution Channel (Direct Sales, Third Party Distributors, Online Sales), Country (U.S. and Canada), Industry Trends and Forecast to 2028
Market Analysis and Insights: North America Molecular Point Of Care Testing (using NAAT) Market
North America molecular point of care testing (using NAAT) market is expected to reach USD 34,736.47 million by 2028, from USD 12,711.40 million in 2020, growing at the CAGR of 12.1% in the forecast period of 2021 to 2028.
POCT is characterized as testing which can be done close to the patient where a medical decision can be made immediately, including the results and monitoring. POCT devices now entering into clinical use are based on nucleic acid amplification technologies (NAAT), defined here as second-generation devices. These platforms generally have improved sensitivity, typically in the range of 60 to 90%, compared to first-generation POCTs, and require portable instrumentation with a footprint of approximately 30cm x 30cm. These instruments are essentially used in the molecular detection of various disorders such as HIV, HPV, and respiratory disease through NAAT technology. NAAT is Nucleic Acid Amplification Techniques which allows identification of pathogenic organisms by detecting their DNA or RNA.
- In the global pandemic, attempt to synergize the sensitivity of NAATs and the ease of use of POCT assays, miniaturized NAAT-based POCT devices and assays were devised for faster screening and diagnosis of COVID-19, which also propelled the growth of the market.
Molecular point-of-care testing's significant advantages include the rapid diagnosis process, treatment choice, monitoring, and prognosis. This will also help in operational decision-making and proper resource utilization. The increasing prevalence of chronic disease and increasing diagnosis-seeking rate are expected to act as drivers for the market. However, the high cost of POCT instruments may hinder the growth of the market.
The strategic initiatives taken by the major players are anticipated to provide lucrative opportunities for the market's growth. On the other hand, the stringent regulatory approval may act as a challenge for the market
This North America molecular point of care testing (using NAAT) market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
North America Molecular Point Of Care Testing (using NAAT) Market Scope And Market size
North America molecular point of care testing (using NAAT) market is segmented into five notable segments which are based on product, indication, end user, mode of testing, and distribution channel.
- On the basis of product, the North America molecular point of care testing (using NAAT) market is segmented into instruments, consumables, and reagents. In 2021, the consumables & reagents segment in the molecular point of care testing (using NAAT) market is expected to grow due to the presence of a wide portfolio for the U.S. population, as there are many companies manufacturing kits and instruments for North America Region.
- On the basis of indication, the North America molecular point of care testing (using NAAT) market is segmented into a sexually transmitted infection (STI) testing, respiratory infection testing, gastrointestinal tract infection testing, and others. In 2021, the respiratory segment in the molecular point of care testing (using NAAT) market is expected to dominate because of the worse condition of COVID-19 in U.S. population.
- On the basis of end user, the North America molecular point of care testing (using NAAT) market is segmented into laboratories, hospitals, clinics, ambulatory centers, home care, assisted living facilities, and others. In 2021, the laboratories segment in the molecular point of care testing (using NAAT) market is expected to dominate because of the high quality of diagnosis and research in U.S.
- On the basis of the mode of testing, the North America molecular point of care testing (using NAAT) market is segmented into prescription-based testing and OTC testing. In 2021, the prescription-based testing segment in the molecular point of care testing (using NAAT) market is expected to grow due to the fact that the use of NAAT in PCOT is new and thus requires expert advice and monitoring which increases the market for prescription-based testing.
- On the basis of distribution channel, the North America molecular point of care testing (using NAAT) market is segmented into direct tender, third party distributor, online sales. In 2021, direct sales segment in the molecular point of care testing (using NAAT) market is expected to grow due to fact that majority of companies working in this market have their presence in U.S. which increase the direct sales in this region.
North America Molecular Point of Care Testing (Using NAAT) Market Country Level Analysis
The North America molecular point of care testing (using NAAT) market is analyzed, and market size information is provided by product, indication, end user, mode of testing, and distribution channel.
The U.S. is expected to dominate the North America molecular point of care testing (using NAAT) market due to the presence of excellent healthcare infrastructure, which increases the demand for molecular POCT products than other countries in North America region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
New Product Launches By Manufactures is Creating New Opportunities For Players in The Molecular Point of Care Testing (Using NAAT) Market
North America molecular point of care testing (using NAAT) market also provides you with detailed market analysis for every country growth in aesthetic industry with molecular point of care testing (using NAAT) market sales, impact of advancement in the molecular point of care testing (Using NAAT) market and changes in regulatory scenarios with their support for the North America molecular point of care testing (Using NAAT) market. The data is available for the historic period 2010 to 2019.
Competitive Landscape and Molecular Point of Care Testing (Using NAAT) Market Share Analysis
North America molecular point of care testing (using NAAT) market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to North America molecular point of care testing (using NAAT) market.
The major companies providing North America molecular point of care testing (Using NAAT) products in North America molecular point of care testing (using NAAT) market are Thermo Fisher Scientific Inc., Hologic, Inc., BD, F. Hoffmann-La Roche Ltd, ABBOTT, Seegene Inc., bioMérieux SA, QIAGEN, Bio-Rad Laboratories, Inc., PerkinElmer Inc., Grifols, S.A., Quidel Corporation, GenMark Diagnostics, Inc., SD Biosensor, INC., Oxford Nanopore Technologies, Wondfo, Randox Laboratories Ltd., Meridian Bioscience, Sekisui Diagnostics, QuantuMDx Group Ltd., Lucira Health Inc., binx health, inc., Sysmex (A Subsidiary of Sysmex Corporation), Co-Diagnostics, Inc., among others.
Many product launches and agreements are also initiated by companies worldwide, which are also accelerating the molecular point of care testing (using NAAT) market.
For instance,
- In May 2020, Bio-Rad Laboratories, Inc. announced that they had received FDA Emergency Use Authorization (EUA) for the SARS-CoV-2 total Ab test. It is a blood-based immunoassay used to help clinicians identify if an individual has developed antibodies against SARS-CoV-2. After receiving this approval, the company has enhanced its credibility in the market
This new product launched by the company has increased its protein estimation portfolio in the market. Collaboration, joint ventures, and other strategies by the market player are enhancing the company market in the molecular point of care testing (using NAAT) market, which also provides the benefit for the organization to improve their offering for North America molecular point of care testing (Using NAAT) market.
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