BANGALORE, India, Nov. 18, 2019 /PRNewswire/ -- Molecular diagnostic screening is used to identify different DNA or RNA sequences, including single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others for further detection of the disease. These combined methods, such as genome and proteome, helps examine biological markers at the molecular level. These methods are used to treat various infectious diseases
It is expected that technological advances in molecular diagnostics will drive the market dramatically as they allow for greater precision, portability and cost-effectiveness. The launch of MinION, a compact and inexpensive sequencer for users in point-of-care facilities and small peripheral laboratories by Nanopore Technologies, is expected to fuel market growth.
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Trends Influencing The Molecular Diagnostics Market Share
- Prevalence of infectious ailments and various types of cancer
- Increase in awareness of personalized medication
- Growth in the biomarker identification
- Advancement in molecular diagnostics
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Region Wise Analysis Of Molecular Diagnostics Market Share
- In 2016, the North American molecular diagnostics market accounted for the largest market share due to factors such as growing ageing populations, increased numbers of infectious and chronic diseases, and increased awareness of personalized medicine.
- Because of the well-penetrated healthcare system and supportive regulatory policies, the European molecular diagnostics sector is the second-highest revenue generator.
- Asia-Pacific is expected to show the highest growth in the global molecular diagnostics market from 2017 to 2023, with an estimated CAGR of 10.1% due to improvements in health care facilities to treat the growing population of patients with infectious diseases.
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Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global molecular diagnostics market and current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis of the industry from 2016 to 2023 to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on type, technology, application, and end user elucidate various trends and prevailing opportunities across segments.
- Key market players operating in the market are profiled to determine the competitive outlook of the market by studying the different products of the companies and their developments.
- The key players profiled in the report include Abbott Laboratories, Inc., BioMrieux SA, Becton, Dickinson and Company, Cepheid (subsidiary of Danaher Corporation), Grifols, Hologic Corporation, Novartis AG, Qiagen N.V., Siemens Healthcare GmbH, and Roche Diagnostics.
- List of the other players (not included in the report) in the value chain includes Bayer Healthcare, Bio-Rad Laboratories, Johnson & Johnson, Dalko Diagnostics, and Sysmex Corporation.
Top Investment Pockets
The global molecular diagnostics market is segmented by application into infectious diseases, oncology, genetic testing, blood screening, and others (microbiology, neurological diseases, and cardiovascular diseases).
Infectious diseases projected the highest revenue in 2016, with a CAGR of 9.3% for the forecast period of 2017-2023, owing to an increase in the number of patients suffering from different viral and bacterial infections, such as Human Immunodeficiency Virus (HIV), Hepatitis C virus(HCV), Human Papillomavirus(HPV), Chlamydia trachomatis/ Neisseria gonorrhoeae (CT/NG), and others. Along with the improving healthcare facilities treating these diseases in the emerging nations.
Molecular Diagnostics Market Key Segments
By Product
- Instruments
- Reagents
- Software & Services
By Technology
- Polymerase Chain Reactions (PCR)
- Hybridization
- DNA Sequencing
- Microarray
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Others (Electrophoresis, Mass spectroscopy, and Flow cytometry)
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By Application
- Infectious Diseases
- Oncology
- Genetic Testing
- Blood Screening
- Others (Microbiology, Neurological Diseases, and Cardiovascular Diseases)
By End Users
- Hospitals
- Laboratories
- Others (Blood Banks, Home Health Agencies, and Nursing Homes)
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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