The Molecular Diagnostics Market is anticipated to gain market worth of US$ 9.5 billion by 2025, expanding at a CAGR of 6.3% during the forecast period 2019-2025. The major reasons that will escalate the adoption of molecular diagnostics are high prevalence of infectious diseases and cancers, increasing awareness and acceptance of personalized medicine and companion diagnostics, growth in the biomarker identification market, and advancements in molecular techniques. The growing incidence of infectious diseases and cancer awareness programs, progress in biomarker identification, acceptance of personalized medicines would further drive the market growth over the forecast period. Additionally, rise in occurrence rates of cardiovascular disorders, genetic disorders, neurological disorders are also expected to fuel the market growth. Moreover, changing reimbursement models and regulations, investing in unifying technology, consolidation and automation of labs would mark as the major trend in the industry. The high prices of molecular diagnostics tests and unfavourable reimbursement policies will act as the major restraints in the growth of this market.
Request for Sample of the report – https://univdatos.com/request_form/form/239
Healthcare expenditure as a proportion of gross domestic product (GDP) is on the rise. In the US, healthcare spending is expected to grow 1.3% points faster than GDP annually, rising to comprise 20.1% of GDP by 2025. This will lead to the rise in the entry of players and this domain and will affect the molecular diagnostics market. The concept of clinical validity and utility underpins the use of molecular diagnostic tests in the clinical laboratory, and continuous sharing of expertise between clinical and laboratory partners will enhance the appropriateness of molecular testing and interpretation, thus improving personalized medicine. Thanks to the technological advances made in molecular diagnostics, above all in next-generation sequencing (NGS) and digital polymerase chain reaction (dPCR) platforms, clinical laboratories benefit from rapid translation of established and emerging molecular tests. Advancing molecular diagnostics has been the prime agenda of biomedical scientists around the globe. Molecular diagnostics has made possible the diagnosis of the previously undetected viral nucleic acids and helped provide a deeper understanding of the cause of disease, treatment dose, and success of the treatment depending upon the case. It has provided an immense scope of novel and more sophisticated biotechnology and biomedical tools to be employed in this sector procreating a new interdisciplinary field. Increasing R&D activities focused on developing advanced tools and techniques intended to enable rapid as well as accurate diagnosis of disease will propel molecular diagnostics’ market growth. As the demand for early diagnosis of these diseases is high, various public and private organizations are investing funds to accelerate R&D in the field of molecular diagnostics
Based on product type the global molecular diagnostics market is bifurcated into Instruments, Reagents and services and others. The market of the Reagents segment is expected to grow tremendously and is projected to dominate the market in 2025. Molecular diagnostics market, based on technique is segmented into Polymerase Chain Reaction (PCR), Transcription-Mediated Amplification (TMA), In Situ Hybridization, DNA Sequencing & Next-Generation Sequencing (NGS), Chips and Microarrays and others. The PCR segment occupied the largest share and is expected to maintain its dominance throughout the forecast period 2019-2025 owing to the increased usage and advancements in PCR techniques. In 2018, PCR dominated the global molecular diagnostics technology type market and is anticipated to generate a market size of US$ 3,508.8 million by 2025. In 2018, the Virology application segment dominated the market and is anticipated to dominate this segment in 2025. However, Oncology application segment is expected to witness highest CAGR of 8.27% during the forecast period 2019-2025. Hospitals, clinics & labs and others are the major end-users of the molecular diagnostic technology. The Clinics and Laboratories are expected to be the fastest-growing end-user type during the forecast period.
For Regional/country-wise analysis of the overall adoption of Molecular Diagnostic technique browse through – https://univdatos.com/report/molecular-diagnostics-market-current-scenario-and-forecast-2019-2025
For a deep-dive analysis of the industry, detailed regional/country-level analysis is conducted for markets including North America (US, Canada, Rest of US), Europe (Germany, France, Spain, Italy, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific) and Rest of World (Brazil and Other Rest of World). In 2018, North America generated revenue of US$ 2,964.9 million, however, Asia-Pacific is expected to witness the highest CAGR of 6.74%b during the forecast period. The dominance of North Americais majorly driven by the presence of a well-established diagnostic infrastructure, technological advancements, patient awareness and presence of advanced products in the field of molecular diagnostics. Some of the major companies profiled in the global Molecular Diagnostics study include Abbott Laboratories, Becton, Dickinson and Company, Biomérieux SA, Danaher Corporation, Hologic, Inc., Qiagen, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation and Thermo Fisher Scientific. These industry players are entering into partnerships and mergers & acquisitions to increase their market share. Some of the key players are also expanding their businesses by increasing their expenditure on R&D.
Feel free to contact us for any queries – https://univdatos.com/request_form/form/239
Global Molecular Diagnostics Market Segmentation
Market Insights, by Product
Market Insights, by Technology
- Polymerase Chain Reaction (PCR)
- Transcription-Mediated Amplification (TMA)
- In Situ Hybridization & FISH
- DNA Sequencing & Next-Generation Sequencing (NGS)
- Chips and Microarrays
Market Insights, by Application
- Hospital Acquired Infections (HAI)
- Genetic Testing
- Human Leukocytes Antigen (HLA)
- Blood Screening
Market Insights, by End User
- Clinics & Labs
- Other Healthcare Facilities
Market Insights, by Region
- North America Molecular Diagnostics market
- Europe Molecular Diagnostics market
- Asia Pacific Molecular Diagnostics market
- Rest of the World Molecular Diagnostics market
UnivDatos Market Insights (UMI) understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Molecular Diagnostics Market can be customized to the country level or any other market segment.
UnivDatos Market Insights (UMI)