Molecular Diagnostics Market
Molecular Diagnostics Market (Technology - PCR and Real-Time PCR, Hybridization, Microarray, Transcription-mediated Amplification, and Next-Generation Sequencing; Application - Infectious Diseases, Oncology, Blood Screening, Microbiology, Genetic Testing, and Women’s Health; End User: Hospitals, Diagnostic Laboratories, Blood Banks, Academics, and Research) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Category : Healthcare
- Format :
Press Release :
Global Molecular Diagnostics Market: Snapshot
Molecular diagnostics is part of in vitro diagnostics industry and gained substantial momentum in the global market. Growing introduction of tests such as Chlamydia trachomatis and Neisseria gonorrhea (CT/NG) and HIV are growing growth of the global molecular diagnostics market. The introduction of tests have augmented the demand for PCR technology has augmented the demand for the molecular diagnostics technology. Additionally, these tests offers the advantages such as effective screening of genetic disease, hepatitis virus, cancer, and hospital-acquired infections.
Rising pool of the geriatric population which are more susceptible to these diseases, growing demand for patient-centric healthcare, and increasing awareness about usage of molecular diagnostics. The aforementioned factors are propelling growth of the market as their adoption is relatively higher due to continuous development in the field of molecular biology. Additionally, the market is expected to be driven by the increasing investments in research and development activities for improvement in molecular diagnostic kits and its accuracy.
According to the report by TMR, the global molecular diagnostics market was valued at around US$7.1 bn in 2015 and is anticipated to expand with a CAGR of around 11.6% from 2016 to 2025 to attain value of US$18.9 bn by the end of 2025.
High incidences of diabetes to be Beneficial for Growth
On the basis of technology, the global molecular diagnostics market is segmented into PCR and real-time PCR, hybridization, microarray, transcription-mediated amplification, and next-generation sequencing. Out of these, the polymerase chain reaction accounted for the largest share in the overall market by accounting 39.1% of shares in 2016. This demand for technology is attributable to cost-effectiveness.
On the basis of application, the global molecular diagnostics market is segmented into infectious diseases, oncology, blood screening, microbiology, genetic testing, and women’s health. On the basis of end user, the global molecular diagnostics market is segmented into hospitals, diagnostic laboratories, blood banks, academics, and research.
Growing Emerging Trend of Using Molecular Diagnostics Tests in Asia Pacific
On the basis of region, the global molecular diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Of these, in 2016, North America accounted for leading share of 39.1% in the global market. This dominance is attributable to high prevalence of infectious diseases. Also, high number of initiatives by governments to raise awareness and emerging trend of using molecular diagnostics tests owing to its affordability. However, Asia Pacific is expected to expand with higher CAGR owing to growing concerns about health and rising disposable income among the population.
Key players operating in the molecular diagnostics market include F. Hoffmann-La Roche Ltd., bioMérieux SA, Becton, Abbott Laboratories, and Dickinson and Company. In 2016, F. Hoffmann-La Roche Ltd dominated the global market followed by the Abbott Laboratories. Additionally, these players are adopting the strategies such as mergers, acquisitions, and partnerships for accounting major share in global market for molecular diagnostics.
Global Molecular Diagnostics Market: Overview
This report on the molecular diagnostics market studies the current and future prospects of the market globally. Growing incidences of chronic infectious diseases such as tuberculosis, HIV/AIDS, diarrhea, pneumonia hepatitis, in addition to increasing geriatric population, and rising number of biotechnology companies is expected to accentuate the growth of global molecular diagnostics market. The global molecular diagnostics market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the global molecular diagnostics market with respect to market segments based on technology, application, end user and their geographic analysis.
Global Molecular Diagnostics Market: Segmentation
Based on technology, the molecular diagnostics market has been segmented into six major categories: PCR and real-time PCR, hybridization, microarray, transcription-mediated amplification, next-generation sequencing and others which includes mass spectrometry etc. These are the major techniques which are used in molecular diagnostics for diagnosis of disease. Likewise, on the basis of application, the global molecular diagnostics market has been segmented into infectious diseases, oncology, blood screening, microbiology, genetic testing and women’s health. Infectious disease testing has been segmented into two major categories, namely, virology and bacteriology. The market segments have been extensively analyzed based on usefulness, adoption, efficacy, revenue, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment has been provided for the period from 2015 to 2025. The molecular diagnostics market report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2015 as the base year. A brief patient pool analysis by infectious disease, cancer and cardiovascular disease have also been discussed in the global molecular diagnostics report.
Based on End User the global molecular diagnostics market is segmented as hospitals, diagnostic laboratories, blood banks, academics & research and others. The market size and forecast for each of these end user has been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2015 as the base year.
Global Molecular Diagnostics Market: Regional Outlook
Geographically, the molecular diagnostics market in Europe has been categorized into five major regions: North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market size and forecast for each of these regions has been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2015 as the base year. The research study also covers the competitive scenario in these regions. A detailed qualitative analysis of factors responsible for driving that is supply side driver, demand side driver and economic driver, restraining the growth of the market and future opportunities has been provided in the market overview section. This section of the report also provides market attractiveness analysis, Porter’s Five Forces analysis, and market share analysis by key players, competitive matrix thus presenting a thorough analysis of the overall competitive scenario in the global molecular diagnostics market.
Key Players Mentioned in this Report are:
Current and future trends has also been provided for new entrants as well as existing market players to assist them in taking strategic initiatives to establish a strong presence in the market. The report also profiles major players in the global molecular diagnostics market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments, SWOT analysis. Major players profiled in this report include F. Hoffmann-La Roche Ltd., Abbott Laboratories, QIAGEN N.V. ,bioMérieux SA, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Danaher Corporation, Siemens AG and Thermo Fisher Scientific Inc., and others.
The global molecular diagnostics market is segmented as given below:
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