Global Molecular Diagnostics Market: Overview
Molecular diagnostic tests are mainly performed to detect the particular sequences in RNA or DNA, which comprises deletions, rearrangements, single nucleotide polymorphism, insertions, and others to further examine the disease. These are collective methods for examining biological markers at the molecular stage, for instance, proteome and genome. These methods are performed to examine the different infectious syndrome, cancer, and others and are also used to test out the genetic predisposition to an ailment.
Global Molecular Diagnostics Market: Growth Factors
Cancer is considered as the leading cause of death globally, but it can be detected at an early stage with the help of molecular diagnostic tests which is the important factor that is driving the growth of the molecular diagnostics market. The use of molecular diagnostics will certainly help to decrease healthcare expenditure for patients by avoiding needless chemotherapy, drugs, and medical care. It can also be utilized to identify cancer biomarkers, which in turn will also help to increase the survival rate of several patients undergoing cancer and other infectious syndromes. The most important aspects of molecular diagnostics are to diagnose cancer biomarkers and recover patient health care. The other factor that fosters the development of the molecular diagnostics market is the expansion of molecular point-of-care (POC) checkup tests. As the time taken to identify contagious agents and minimum residual syndrome in patients is high, manufacturers from across the world have developed POCT for amplification, nucleic acid extraction, and detection as it helps to offer results in just a few hours. The capability of such tests to expand cost savings by decreasing the volume of reagents used is expected to contribute to the growth of the market.
Global Molecular Diagnostics Market: Segmentation
The global molecular diagnostics market is categorized based on technology, type, application, end user, and geography. On the basis of type, the molecular diagnostics market is divided into reagents, instruments, and software & services. On the basis of technology, the market is categorized into hybridization, microarray, DNA sequencing, isothermal nucleic acid amplification technology (INAAT), polymerase chain reaction (PCR), and others (mass spectroscopy, electrophoresis, and flow cytometry). Based on application, the market is fragmented into oncology, infectious diseases, blood screening, genetic testing, and others. Based on the end-user, the molecular diagnostics market is classified into reference laboratories, hospitals, and others (home health agencies, blood banks, and nursing homes).
Global Molecular Diagnostics Market: Regional Analysis
North America is anticipated to be the largest player in the global molecular diagnostics market due to the technical developments and innovations, a rise in R&D investments by several biotechnological and pharmaceutical industries, and the increased demand for early analysis. The Asia Pacific molecular diagnostics market is expected to grow owing to increase in the occurrence of diseases such as infectious diseases, cardiovascular diseases, and a huge population suffering from diabetes problem, whereas the market in the Middle East & Africa is predicted to grow at a significant rate in the future.
Global Molecular Diagnostics Market: Competitive Players
Some of the key market players in the global molecular diagnostics market are Becton Dickinson, Abbott Laboratories, Johnson and Johnson, Novartis, Roche Diagnostics, Qiagen N.V, bioMerieux, Siemens Healthcare, Danaher Corporation, Bio-Rad Laboratories, Hologic Inc., and Cepheid, among others.
Global Molecular Diagnostics Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
