Global Molecular DiagnosticsMarket is expected to reach
over USD 17.9 billion by 2024, based on a new report by Grand View
Research, Inc. Increasing prevalence of infectious diseases including human
papillomavirus and influenza is expected to be the primary driving force for
the growth of the molecular diagnostics market. In the underdeveloped regions
of Africa and Nigeria, other infections, such as HIV and tuberculosis, are
soaring at a high growth rate since the last few years. This is estimated to
increase the demand for early and accurate diagnostic techniques to curb their
growth rate.
Prenatal genetic testing, performed for the purpose of early
detection of abnormalities that develop in the fetuses of carrier parents, is
also expected to widen the client base for the molecular diagnostics market.
Moreover, the high adoption of unhealthy lifestyles further resulting in a
large patient count afflicted with chronic diseases, such as diabetes and
cardiovascular disorders, is also projected to positively impact the growth.
Full Research Report on Global Molecular Diagnostic
Market Analysis:
Further key findings from the study suggest:
- The
overall market is dominated by reagents with revenue generation of over
USD 2.3 billion in 2015 owing to their elevated usage rates. Reagents are
key products used in academic and research institutes to perform various
molecular biology protocols further contributing toward the dominance of
this segment.
- Instruments,
such as PCR and next generation sequencing platforms, are being widely
preferred by central laboratories and diagnostic institutes due to the
rapid nature of these tests in delivering quick & reliable results and
the high volume of diagnostic procedures in this segment. Thus, this
segment is expected to maintain a constant growth at a CAGR of around
9.0%.
- Central
laboratories led the global molecular diagnostics market by test location
with revenue generation of around USD 4.0 billion in 2015 owing to their
established base in the remote and developing regions
- On the
other hand, the point of care devices segment witnessed the fastest growth
with a CAGR of over 14.0%. The associated advantages include the
user-friendly nature of these tests and quick healthcare delivery, which
are estimated to propel the molecular diagnostics market.
- Infectious
diseases held the largest share of over USD 2.9 billion in 2015. Molecular
testing tools provide clinicians with better alternatives to detect
countless infectious bacteria, virus, and pathogens in short time while
delivering highly accurate results. Initiatives led by organizations, such
as the WHO, in conducting diagnostic programs in regions with high risk
areas is estimated to be a high rendering driver.
- The
oncology segment is expected to exhibit a CAGR of around 13.0% over the
forecast period. Rising awareness levels among people as well as
healthcare professionals for cancer diagnosis is a key attribute
propelling the market growth.
- The
PCR segment dominated the market with revenue generation of over USD 2.6
billion in 2015, attributable to the growing applications of multiplex PCR
over the conventional PCR procedure and the introduction of easy-to-use
PCR handling kits.
- North
America was observed to be the largest regional segment in 2015 with a
share of over 45.0%. Key factors contributing toward the large share are
well-established healthcare infrastructure, rising healthcare spending,
increasing awareness levels among patients, and expansion of R&D
activities related to drug discovery and development.
- Asia
Pacific is identified as a lucrative segment with a CAGR of approximately
17.0% over the forecast period. Rising demand for improved diagnostic
technologies employed for the prevention of epidemics, unaddressed
clinical needs, and recent activities by key players targeting expansion
in this region are the major factors supporting the market growth.
- Some
of the major players include Novartis AG (Grifols), Siemens Healthcare
GmbH, Bio-Rad Laboratories, Inc., Alere, Inc., Danaher Corporation,
bioMérieux SA, Sysmex Corporation, Becton, Dickinson and Company, Johnson
& Johnson Services, Inc., Bio-Rad Laboratories, Inc., Bayer AG,
Qiagen, Hologic, Inc. (Gen Probe), Cepheid, F. Hoffmann-La Roche Ltd, and
Dako
- The
key players are advancing strategic collaborations with major
technology-based companies & diagnostic centers and expanding into the
developing regions in an attempt to increase their market share and attain
stability
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/clinical-diagnostics
Grand View Research
has segmented the Global Molecular Diagnostics Market on the basis of product,
technology, applications, test location, and region:
Global Molecular Diagnostics Product Outlook
(Revenue, USD Million, 2013 - 2024)
- Instruments
- Reagents
- Others
Global Molecular Diagnostics Technology Outlook (Revenue,
USD Million, 2013 - 2024)
- PCR
- Multiplex
- Others
- In-situ
Hybridization
- Chips
and microarrays
- Mass
spectrometry
- Sequencing
- Transcription
mediated amplification
- Others
Global Molecular Diagnostics Application Outlook
(Revenue, USD Million, 2013 - 2024)
- Oncology
- Breast
cancer
- Prostate
cancer
- Colorectal
cancer
- Cervical
cancer
- Kidney
cancer
- Liver
cancer
- Blood
cancer
- Lung
cancer
- Others
- Pharmacogenomics
- Infectious
Diseases
- Methicillin-resistant
Staphylococcus Aureus (MRSA)
- Clostridium
difficile
- Vancomycin-resistant
enterococci
- Carbapenem-resistant
bacteria testing
- Flu
- Respiratory
syncytial virus (RSV)
- Candida
- Tuberculosis
and drug-resistant TB
- Meningitis
- Gastrointestinal
panel testing
- Chlamydia
- Gonorrhea
- HIV
- Hepatitis
C
- Hepatitis
B
- Other
Infectious Diseases
- Genetic
Testing
- Newborn
screening
- Predictive
and presymptomatic testing
- Others
- Neurological
diseases
- Cardiovascular
diseases
- Others
Global Molecular Diagnostics Test Location Outlook
(Revenue, USD Million, 2012 - 2024)
- Point
of care
- Self
test or OTC
- Central
laboratories
Molecular Diagnostics Regional Outlook (Revenue, USD
Million, 2012 - 2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Belgium
- Switzerland
- Netherlands
- Poland
- Austria
- Greece
- Sweden
- Turkey
- Finland
- Asia
Pacific
- Japan
- China
- India
- Australia
- New
Zealand
- Sri
Lanka
- Malaysia
- Thailand
- Vietnam
- Ireland
- Singapore
- Latin
America
- Brazil
- Mexico
- Colombia
- Chile
- Peru
- Argentina
- MEA
- South
Africa
- Saudi
Arabia
- Jordan
- UAE
- Qatar
- Nigeria
- Egypt
View Press Release of This Report by Grand View Research:
http://www.grandviewresearch.com/press-release/global-molecular-diagnostics-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more Information visit: www.grandviewresearch.com
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