Home » Health & Medicine, Manufacturing & Industry, Pharmaceuticals & Biotech, Technology, World » Molecular Diagnostics Market is Expected to Grow at a CAGR of over 10% by 2020 – Market Research Report by Hexa Research
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The molecular diagnostics are used for early detection of genetic disorders, infectious diseases, and cancer. For detection of genetic disorders, various applications and technologies are used for its detection in pre-natal stages. In the upcoming years, “molecular diagnostics market” demand is expected show high growth.

Molecular diagnostics market is expected to grow over the forecast period owing to the evolution of CLIA waived tests related to the point of care (POC) for molecular advanced diagnostics, cancer diagnostic and detection technologies Other drivers of this market are growing prevalence of cancer, blood screening, genetic disorders, and improper lifestyle habit such as alcohol, tobacco consumption, smoking and increasing geriatric population. CLIA tests are performed on humans for health assessments, treatment of impairment or disease, prevention, diagnosis. So to meet complexity, error and risk requirements CLIA certificate of waiver are issued. The molecular diagnostics are used for early detection of genetic disorders, infectious diseases, and cancer. For detection of genetic disorders, various applications and technologies are used for its detection in pre-natal stages. In the upcoming years, molecular diagnostics market demand is expected show high growth. The market is equipped with pre-natal stage detection technology.

Product Insights

Molecular diagnostics market is segmented on the basis of product types into reagents and instruments. Globally, reagents held the largest market share in 2013. The reason for its dominance is that it has high usage rate in molecular test and also more preference is given to it over counter tests. Molecular diagnostic test are now being used at non-medical facilities such as schools, college, and homes. Due to increasing demand for advanced cancer diagnostic tests and genetic test, this market will grow at a CAGR of 10% over the forecast period. Apart from regents, globally instrument market is also growing at a fare pace and contributing nearly 38.4% in total market share, as these instrument products are quite costly, as compared to reagents market.

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Technology Insights

Molecular diagnostics market is segmented on the basis of technology intoin situ hybridization, PCR, mass spectrometry, chips & microarrays and sequencing. Among these PCR held the largest market share in 2013. PCR process is used in detection of diseases such as, viral infections, lymphoma and leukaemia. The importance of this technology is that it targets the DNA sequences and finds its amplification. This technology is used by medical practitioners and researchers, in finding out the DNA sequence, so to find out the factors or reasons for cancer and accordingly develop treatment procedures for it. Increasing prevalence of cancerhas triggered the cancer market a lot, so it can be said that it is one the key driver for PCR technology market.

Application Insights

Molecular diagnostics market is segmented on the basis of application into pharmacogenomics, oncology, genetic testing, infectious disease, cardiovascular disease, and neurological disease. Among these, oncology application held the largest market share in 2013, as 34% of revenue is generated by this segment alone. Reason for its dominance is due to presence of high cancer patient cases and evolution of advanced tests such as companion diagnostics. Companion diagnostics are the personalized medicine and also include identification of biomarker response for the selected patients. Pharmacogenomics application is the fastest growing application. Pharmacogenomics is the study of genetic mapping according to the patient’s response towards a particular drug and therapy.

Regional Insights

Geographically, the Molecular diagnostics market is studied with respect to North America, Europe, Asia Pacific and RoW. North America is dominating the whole market as it has strong healthcare infrastructure, patient awareness, various government programmes, and strong R&D. Asia Pacific is expected to show fruitful CAGR over the forecast period owing to the rapidly developing healthcare infrastructure areincreasing patient awareness, and various government initiatives.

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Competitive Insights

The major market players in, the molecular diagnostics market are, Roche Diagnostics, Gen-Probe, Hologic, bioMerieux, Novartis, Abbott Laboratories, Siemens Healthcare, Qiagen, Hologic, Becton Dickinson and Company and Cepheid.

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