Global Molecular Diagnostics Market Report
Global Molecular Diagnostics Market are the tests that are carried out for the detection of sequences present in the DNA and RNA including deletions, insertions, rearrangements, single nucleotide polymorphism, and others for the diagnosis of diseases. Global Molecular Diagnostics Market cumulative techniques analyze the biological markers at a molecular level, like proteome and genome. Molecular diagnostics are commonly used in the diagnosis of cancer, infectious diseases, and others. These are also used in the genetic predisposition checking to a disease.
Increase in the prevalence of infectious diseases and various cancers, a rise in demand for personalized medicines, technological advancements in the diagnostic tests, and rise in the preference for biomarker identification tests are anticipated to fuel the molecular diagnostics market. Moreover, a rise in geriatric population, increase in healthcare expenditure, developed healthcare infrastructure, and favourable government initiatives for preventing the genetic disorders are also expected to boost the molecular diagnostics market over the forecast period. However, stringent regulatory policies, high cost for testing, issues with quality control, and lack of reimbursement policies for the diagnosis might restrain the growth of molecular diagnostics market.
Global Molecular Diagnostics Market is segmented on the basis of product type, technology, application, and end user
Based on the product type
Based on technology
- Polymerase chain reaction
- Next-generation sequencing
- Isothermal nucleic acid amplification
Based on the application
- Blood screening
- Infectious diseases
- Genetic tests
Based on the end user
- Diagnostic Centres
- Research institutes
Global Molecular Diagnostics Market is in the developing stage owing to increase in the prevalence of cancer, infectious disease such as HIV (according to World Health Organisation, global health observatory (GHO) data, in 2013, approximately 34-38 million people suffered from HIV infection worldwide), and hepatitis among others. A rise in research activities for the prevention of genetic disorders also fuels the molecular diagnostics market. Acquisitions & mergers, collaborations, and innovation of novel diagnostic methods are some key strategies followed by companies for increasing their revenue in the molecular diagnostics market. For instance, in August 2015, Roche Diagnostics has acquired GeneWeave Biosciences, Inc. for strengthening its portfolio in microbiology diagnostics. Moreover, in April 2015, Alere Inc. received FDA approval for Alere I Strep, a molecular diagnostic test for the detection of Group A Streptococcus bacteria.
Geographically, global molecular diagnostics market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Increase in the prevalence of various infectious diseases, rise in the government funding for the research in molecular diagnostics, wide range of applications, and availability of skilled workforce in North America anticipated to create dominant for molecular diagnostics in the region. Europe market is growing significantly owing to well-developed healthcare infrastructure, initiatives for the prevention of genetic disorders, and increase the number of biotechnological companies is driving the molecular diagnostics market. Moreover, rise in geriatric population in Japan China, and India, an increase in the prevalence of infectious diseases and cancer in Asia Pacific has created lucrative growth for molecular diagnostics market in the region.
Some of the players in market are Cepheid Inc. (Danaher Corporation) (U.S.), Biomerieux (Sofiana s.a.) (France), Beckman Coulter, Inc. (Danaher Corporation) (U.S.), Becton, Dickinson and Company (U.S.), Siemens Healthcare GmbH (Germany), Abbott Laboratories (U.S.), Grifols (Spain), Hologic, Inc. (U.S.), Qiagen (U.S.), Alere Inc. (U.S.), Roche Diagnostics (U.S.), and DiaSorin S.p.A. (American Standard Companies) (Italy) to name a few.
- In March 2016, DiaSorin S.p.An acquired Quest Focus Diagnostics, Inc. for development, manufacturing, and commercialization of molecular diagnostic products.
- The report provides granular level information about the market size, regional market share, and forecast from 2017-2023
- The report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments, and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework, and reimbursement scenario