Molecular Diagnostics Market 2019 Growing Trend and Demand in Healthcare Sector 2025
The latest study conducted by Market Research Future (MRFR) envisions a promising future for the global molecular diagnostics market, which is poised to surge at a brilliant CAGR of 9.6% during the forecast period (2017-2023).
Product Overview
Molecular diagnostic tests are highly useful in detecting certain sequences in DNA or RNA, which include single nucleotide polymorphism (SNP), rearrangements, deletions, insertions, as well as others so the disease can be further diagnosed. Such cumulative techniques are used for the analyzation of biological markers at the molecular level, like proteome and genome. Furthermore, such techniques can also be used for diagnosing various infectious diseases, cancer, along with many other conditions, in addition to checking the genetic predisposition to a disease.
Molecular Diagnostics Market Growth Drivers and Key Barriers
The relentlessly expanding geriatric population around the world is expected to render tremendous positive impact on the growth of the molecular diagnostics market over the given timeframe. This is true as aging radically augments the risk of infectious and chronic conditions which can be taken care of better when diagnosed at an initial stage of development. Also, United Nations forecasts that the global geriatric population is set to expand from the value of 962 million in 2017 to 2.1 billion by the year 2050. This drastic increase in the elderly population base coupled with the consequent surge in demand for early and improved diagnostic methods will be highly instrumental in the growth of the molecular diagnostics market in the near future.
Top Vendors
The top vendors in the global molecular diagnostics market include Hologic, Inc. (U.S.), QIAGEN N.V. (the Netherlands), Grifols (Spain), Bio-Rad Laboratories, Inc. (US), Abbott (U.S.), Siemens Healthcare GmbH (Germany), F. Hoffmann-La Roche Ltd. (U.S.), Cepheid (U.S.), BD (U.S.), bioMĂ©rieux SA (France), Beckman Coulter Inc. (U.S.), and others.
Market Segmentation
The market for molecular diagnostics is segmented on the basis of techniques, applications and end users.
The various techniques in the global market are Polymerase chain reaction (PCR) and real-time PCR, fluorescence in-situ hybridization, microarray, transcription-mediated amplification, and next-generation sequencing.
Application-wise, the market caters to infectious diseases, oncology, blood screening, genetic testing, pharmacogenomics, human leukocyte antigen typing, coagulation, others.
Lastly, the end users that are mentioned in the report are hospitals, diagnostic laboratories, academics and research institutions.
Browse More Information @ https://www.marketresearchfuture.com/reports/molecular-diagnostics-market-1171
Regional Outlook
The regional analysis done for the global molecular diagnostics market is for the key regions of America, Asia Pacific, Europe, as well as Middle East & Africa.
Based on the geographical distribution, America has attained the substantial share of the global molecular diagnostics market, with Europe and Asia Pacific right behind. Growing prevalence of chronic diseases along with a number of cancer types, and massive investment in research sector for the treatment of diseases has elevated the market position of molecular diagnostics at a global level. The constant prediction of the ever-increasing range of infectious diseases like HIV and hepatitis contribute to the market expansion in the region. Apart from this, a swelling demand for biomarkers that are used for rapid diagnosis will auger well with the regional market growth in the near future.
Europe is steadily catching up with America, amassing the second largest share of the global market on account of the elevated demand for biomarker test for diagnosing cardiovascular diseases, especially amongst the obese people. The molecular diagnostics market in the region observes strong growth on the back of the accelerated demand for advanced molecular diagnostic products.
However, it is the region of Asia Pacific that has catapulted right among the strong contenders in the global market, by growing at the fastest rate. The strong presence of growing number of low budget hospitals and clinics along with a massive population base has resulted in the lavish growth of the market in Asia Pacific.
Middle East & Africa will be noting a rather restricted growth in the global market because of the lack of awareness among the general mass, as well as due to the limited development of the medical industry.