Molecular Diagnostics Market: Opportunities and Challenges

Molecular Diagnostics Market: Opportunities and Challenges

“The key players in the global market are Roche (Switzerland), Hologic (US), QIAGEN (Netherlands), Abbott (US), and Danaher (US). These players focus on inorganic strategies such as acquisitions, partnerships, agreements, and collaborations as well as organic strategies such as expansions and product launches & approvals to sustain their positions in the market.”
The global molecular diagnostics market is projected to reach USD 11.54 billion by 2023 from USD 7.71 billion in 2018, at a CAGR of 8.4% during the forecast period.

The global molecular diagnostics market is projected to reach USD 11.54 billion by 2023 from USD 7.71 billion in 2018, at a CAGR of 8.4% during the forecast period.

How do advances in genomics and proteomics create opportunities for players in the molecular diagnostics market?

Advances in genomics and proteomics have resulted in the development of a multitude of assays and technologies useful for the diagnosis and management of diseases. The new technologies, based on genomics techniques such as PCR and proteomics, help in the discovery of new molecular diagnostics approaches for disease diagnosis and disease pathogenesis. They also enable better surveillance and rapid diagnosis.

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Genomics and proteomics are research-driven sectors. Thus, advanced technologies developed through combined efforts by pharmaceutical research companies, the medical community, and government agencies can help combat the threat posed by various infections and cancers. The availability of funds from organizations such as the National Institutes of Health (NIH) and the National Science Foundation (NSF) for various projects has resulted in an increase in the number of research activities in these fields. With growing research in proteomics and genomics, the commercialization of more advanced molecular diagnostics techniques is expected in the coming years.

Will the dearth of trained professionals limit the appropriate use of new molecular diagnostics technologies?

The knowledge of molecular diagnostics technologies is vital for effectively carrying out molecular diagnostics tests. Molecular assays are sensitive to the quantity and purity of the samples used, and small deviations can lead to erroneous and variable inferences. In addition, different and complex types of platforms, instruments, and laboratory documentation systems are used in the MDx field. Clinical microbiology laboratories across major marke