Growing Point of Care Market Driving Industry Expansion
WELLESLEY, Mass., July 26, 2018 (GLOBE NEWSWIRE) -- Growing point of services and the promise of applications for both the food industry and cancer treatment are helping to boost the polymerase chain reaction market, according to a report by BCC Research.
Analysts forecast a compound annual growth rate (CAGR) of 10.6% through 2022, when it is expected to reach $4.7 billion, according to the report “Polymerase Chain Reaction (PCR) for Point of Care (POC) Diagnostics.”
Major players in the market include Abbott Laboratories, Advanced Theranostics, Atlas Genetics, Cepheid, Fluxergy and Roche Diagnostics.
- Kits will lead the market by both size and growth, with an anticipated 2022 value of $3.2 billion and a CAGR of 13.7%. Equipment will have a 2022 value of $1.5 billion and a CAGR of 5.3%.
- The technology is being most rapidly deployed for two types of infectious diseases: respiratory infections such as influenza and sexually transmitted diseases.
- By equipment type, single-kits will lead in size, with a 2022 value expected at $1.1 billion, though multi-kits will lead by growth, with a CAGR through the period of 12.0%.
“The combination of the convenience and accuracy of this new clinical diagnostic technology is driving rapid growth,” said BCC Research analyst and report author Todd Graham. “From non-government organizations’ testing for emerging infections in isolated environments worldwide to major hospitals testing for nosocomial infections that affect patient care as close to the bedside as possible, point of care PCR is strongly influencing how molecular diagnostics are performed. As the technology grows and matures, it will have major and enduring impacts on how healthcare works worldwide. As such, there are a variety of trends evident as this technology grows in the market.”
Industry Pointed toward Expansion into Cancer Fight and Food and Agriculture
A number of exciting possibilities within the field are just over the horizon, the report adds. The precision of digital polymerase chain reactions has made the technology popular for researchers trying to develop prognostic tests after cancer treatment. Further, the ability of the technology to pick up low copy numbers in complex matrices makes it valuable for monitoring and quality control in plants and food.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.
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