Molecular Diagnostics Market Size Worth $11.9 Billion By 2025 | CAGR: 9.1%
Published Date : 22 / 12 / 17 | Report Format: PDF
The global molecular diagnostics market is expected to grow at growth rate of 9.1% to reach USD 11.9 billion by 2025.
In vitro diagnostics and in vivo imaging techniques are the two primary areas of disease diagnosis. Molecular diagnostics helps in the early detection of cancer, genetic disorders, and other infectious diseases. It asses an individual’s health at the molecular level and aids in the detection and measurement of specific genetic sequences in deoxyribonucleic acid (DNA) or ribonucleic acid (RNA) or the proteins expressed by them. Genetic test methods such as in situ hybridization or genome sequencing identify the gene expression patterns whereas protein detection test such as mass a spectrometry help to identify protein expression patterns. Genes are the functional units of DNA that produce RNA through the process of transcription. This, in turn, regulates the production of proteins which make up the machinery of cells.
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The techniques employed by molecular diagnostics help uncover the variation of genes and proteins in a cell and focus on their activity patterns to diagnose and monitor diseases, detect risk and asses which therapy will be best suited for individual patients. These tests also help to detect and quantify the presence of bacteria, viruses or types of cells. For example, molecular diagnostics can help a doctor to decide which drug is best suited for the treatment of a late-stage melanoma patient. It can be used to monitor the level of HIV virus in a patient’s blood or to understand the likelihood of reoccurrence of breast cancer in a female patient.
Key Takeaways :
► Acceptance of molecular diagnostic tests, for the detection and treatment of cancer, is rapidly increasing. With the help of molecular diagnostics, the expression patterns of cancerous cells can be analyzed effectively, thus physicians can decide the best therapy for the patient
► Technology advancement is an important driving factor for the market growth. Advancements have improved the accuracy of test results, thus there has been a widespread use of molecular diagnostics in small scale and large scale healthcare facilities
► It is estimated that molecular diagnostics devices are projected to migrate into cheaper handheld devices for greater use at point of care and other healthcare facilities
► Reagent segment captured the largest share of the total market owing to the development of new reagents for various diagnostic testing assays
► Infectious disease segment is the largest market and is projected to grow significantly over the future period. Growth is primarily due to the emergence of novel technologies for the detection of infectious diseases
► North America accounted for the largest share owing to the rising research and development activities coupled with new product approvals
► The industry is consolidated in nature. Competition among key players is widespread throughout the world. Companies such as Abbott, Danaher Corporation, bioMérieux, Qiagen, and Roche influence industry significantly.
KEY BENEFITS OF THE REPORT :
- In-depth analysis of the key factors are propelling the growth of the global market
- Granular analysis of the current market scenario and the expected market grow
- Detailed analysis of the geographic region that will witness the strongest growth
- Highlight on the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
The scope of this report covers the market by its major segments, which include as follows:
► MOLECULAR DIAGNOSTICS MARKET, BY PRODUCTS
► MOLECULAR DIAGNOSTICS MARKET, BY LOCATION
- Point of care
- Central Laboratories
► MOLECULAR DIAGNOSTICS MARKET, BY APPLICATION
- Infectious Diseases
- Blood Screening
- Tissue Typing
- Inherited Diseases
► MOLECULAR DIAGNOSTICS MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
► MOLECULAR DIAGNOSTICS MARKET, BY COUNTRY
- North America Market
- Europe Market
- Rest of Europe
- APAC Market
- Rest of APAC
- The Rest of the World Market
- Middle East and Africa
- Latin America
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