The global molecular diagnostics market is projected to grow with rising technological developments in molecular diagnostic techniques. These advancements are intended to offer higher accuracy, cost-effectiveness, and portability which further drives the market. This information was published by Fortune Business Insights in a report, titled “Molecular Diagnostics Market Size, Share and Global Trend By Product Type (Instruments Reagents & Consumables), Application (Infectious Disease, Blood Screening, Histology & Oncology), Technique (Hospitals Amplification, Hybridization & Sequencing Techniques), End User (Hospitals, Clinical & Pathology Labs) and Geography Forecast till 2025” offering insights on factors influencing growth. The global market covered a value of US$ 8012.7 Mn in the year 2017 and is projected to reach US$ 13873.6 Mn by 2025. As per the report, the global market is expected to garner a healthy CAGR of 7.1% throughout the forecast period.
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some of the key players in the global Molecular Diagnostics Market:
Siemens Healthcare GmbH
Hoffmann-La Roche Ltd.
Infectious Diseases: The Largest Growing Segment Among Other Applications
Among applications, infectious diseases segment is expected to account for a majority of share in the global molecular diagnostic market. The scope of this segment is increasing owing to the rising number of patients suffering from infections and microbial outbreaks. Moreover, the infectious diseases segment covered a share of 60% in the year 2017. Development of tests for several diseases and rising awareness about the benefits of adopting molecular diagnostic technologies may prevent the occurrence of infectious diseases. Global organizations such as World Bank and the World Health Organization (WHO) are planning to conduct awareness programs to increase the talent pool for molecular diagnostics. Adoption of molecular diagnostic systems is rising among end-users such as clinics, hospitals, emergency centers, and pathology labs.
North America Continues to Maintain Its Stronghold until 2025
“Well-established healthcare infrastructure, combined with the rising incidence of cancer is helping the market grow in North America,” stated a lead analyst at Fortune Business Insights. “Developed healthcare systems further helps in the easy availability and accessibility of advanced instruments such as molecular diagnostics. In 2017, this regional market was valued at US$ 3639.4 Mn and is likely to lead the global landscape through the forecast period. The rising collaborations and association between research hospitals and academic institutions encourages growth of the market in this region. Both the bodies are involving in continuous discussions for process improvements in molecular diagnosis. The market in Europe is also expected to witness considerable growth with growing emphasis on clinical microbiology and hospital research organizations. This is mainly done to increase the number of molecular diagnostic techniques. Rapidly developing healthcare infrastructure and rising investments in research and development activities are factors responsible for creating good growth opportunities.
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Abbott Launched a Next Generation System Used for Molecular Diagnosis
The global molecular diagnostics market is expected to be dominated by companies such as Danaher, Abbott, QIAGEN, and F. Hoffmann-La Roche Ltd. Strong supply chain network, rising research and development (R&D) activities, and development strategies are likely to create growth opportunities for the above companies. In 2016, Abbott announced the introduction of a next-generation system called Alinity. This system is used for plasma and blood screening, haematology procedures, molecular diagnostics, and clinical chemistry. Companies are focussing on to develop new molecular diagnostic tests, which may foster growth of the market. In 2018, Banyan Biomakers received marketing authorization from the U.S. FDA on its first blood diagnostic test. This test was developed to treat traumatic brain injuries which is also referred to as concussion among adults. These developments are likely to have a positive impact on the overall market.
Table of Content
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4.1 Porter’s five forces analysis
4.2 Top 3 players working in market space
4.3 Key developments (Merger, Acquisitions, etc.)
4.4 Technological Advancements
Global Molecular Diagnostics Market Analysis, Insights and Forecast, 2014-2025
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Product Type
5.2.2 Reagents & Consumables
5.3. Market Analysis, Insights and Forecast – By Application
5.3.1 Infectious Disease
5.3.2 Blood Screening
5.4 Market Analysis, Insights and Forecast – By Technique
5.4.1 Amplification Techniques
5.4.2 Hybridization Techniques
5.4.3 Sequencing Techniques
5.5. Market Analysis, Insights and Forecast – By End User
5.5.1 Clinical & Pathology Labs
5.6. Market Analysis, Insights and Forecast – By Region
5.6.1 North America
5.6.3 Asia Pacific
5.6.4 Middle East & Africa
5.6.5 Latin America
North America Molecular Diagnostics Market Analysis, Insights and Forecast, 2014-2025
6.1. Key Findings / Summary
6.2. Market Analysis – By Product Type
6.2.2 Reagents & Consumables
6.3. Market Analysis – By Application
6.3.1 Infectious Disease
6.3.2 Blood Screening
6.4. Market Analysis – By Technique
6.4.1 Amplification Techniques
6.4.2 Hybridization Techniques
6.4.3 Sequencing Techniques
6.5. Market Analysis – By End User
6.5.1 Clinical & Pathology Labs
6.6. Market Analysis – By Country
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