Global molecular diagnostics market 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.
http://www.grandviewresearch.com/industry-analysis/molecular-diagnostics-market
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
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
o Multiplex
o 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
o Breast cancer
o Prostate cancer
o Colorectal cancer
o Cervical cancer
o Kidney cancer
o Liver cancer
o Blood cancer
o Lung cancer
o Others
·
Pharmacogenomics
·
Infectious Diseases
o Methicillin-resistant Staphylococcus Aureus (MRSA)
o Clostridium difficile
o Vancomycin-resistant enterococci
o Carbapenem-resistant bacteria testing
o Flu
o Respiratory syncytial virus (RSV)
o Candida
o Tuberculosis and drug-resistant TB
o Meningitis
o Gastrointestinal panel testing
o Chlamydia
o Gonorrhea
o HIV
o Hepatitis C
o Hepatitis B
o Other Infectious Diseases
·
Genetic Testing
o Newborn screening
o Predictive and presymptomatic testing
o 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
o U.S.
o Canada
·
Europe
o UK
o Germany
o France
o Spain
o Italy
o Belgium
o Switzerland
o Netherlands
o Poland
o Austria
o Greece
o Sweden
o Turkey
o Finland
·
Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Sri Lanka
o Malaysia
o Thailand
o Vietnam
o Ireland
o Singapore
·
Latin America
o Brazil
o Mexico
o Colombia
o Chile
o Peru
o Argentina
·
MEA
o South Africa
o Saudi Arabia
o Jordan
o UAE
o Qatar
o Nigeria
o Egypt
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-molecular-diagnostics-market
https://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: https://www.grandviewresearch.com/
