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
Developing Genetic Engineering to Provide Essential Boost to the Market
The global molecular diagnostics market is witnessing massive growth riding on the back of high-throughput genome engineering and development of various technologies that can help doctors to cure any viral or bacterial diseases. Owing to these developments, the global molecular diagnostics market is expected to witness a massive growth during the tenure of 2017 to 2025. Moreover the outbreak of COVID-19 has also simulated the pharmaceutical players to invest in research and development so that they can develop an effective cure for the Corona Virus disease. Owing to these investments the global molecular diagnostics market shall witness a substantial growth during the tenure of 2017 to 2025.
Global Molecular Diagnostics Market: Competitive Landscape
According to the report, the global molecular diagnostics market is anticipated to witness a staggering 11.6% CAGR during the forecast period of 2017 to 2025. Additionally, the report states that the market is projected to grow from US$ 7.1 Bn in 2016 to US$ 18.9 Bn by the end of 2025. This shows that the market has massive growth potential, which is the major reason that is attracting new players in the global molecular diagnostics market.
However, the global molecular diagnostics market has a highly competitive landscape and is largely fragmented. This scenario of the global molecular diagnostics market is the result of growing number of players in the market. Every player is willing to achieve top spot in the global molecular diagnostics market and have a successful future. However, due to competition, new player are unable to enter the global molecular diagnostics market.
To overcome this issue, the new players are willing to enter into mergers and collaborations that can help them achieve sustainability in the global molecular diagnostics market. Moreover, with the help of these strategies the players can get access to the crucial resources such as distribution network and production facilities that can further help the new players to get better exposure of the global molecular diagnostics market.
The major strategy that is driving the growth of global molecular diagnostics market is the investment in research and development by the research organizations and pharmaceutical companies. These investments result in new and innovative therapies that can be used to cure several neurological issues. With this strategy, the players can establish their dominance in the global molecular diagnostics market and gain a competitive edge over the rivals in the global molecular diagnostics market during the tenure of 2017 to 2025.
Global Molecular Diagnostics Market: Key Trends
- Point-of-Care (PoC) is assessed to be the one of the fastest developing segment of global molecular diagnostics market over the estimated time frame. Rising interest for bedside patient care with the swiftly growing home medicinal services market and expanding market penetration are among the central point driving the portion development. Moreover, rising reception of self-testing or OTC items, expanded attention to sub-atomic testing among patients, and improvement in human services framework are anticipated to drive the development of the segment in the global molecular diagnostics market.
- Oncology is relied upon to be the fastest developing segment application category over the figure time frame attributable to factors, like, expanding predominance of disease and improvement of cutting edge demonstrative tests, for example, companion diagnostics. Partner diagnostics depend on the idea of customized medication and include the ID of biomarker reaction in a populace of patients with a similar kind of malignancy. In addition, the presentation of such progressed sub-atomic demonstrative innovations will end up being savvy, in this manner driving the development of the oncology segment. These factors help the global molecular diagnostic market to grow exponentially from 2017 to 2025.
Global Molecular Diagnostics Market: Key Drivers
Massive Funding by Government to Propel the Growth of Global Molecular Diagnostics Market
Developing funding by governments and various associations for R&D in molecular diagnostics is foreseen to drive the interest for sub-atomic testing. Subsidizing assumes a huge job in item improvement process. For example, Accelerate Diagnostics got USD 19.5 million from different elements, for example, Oracle Partners, Oracle Institutional Partners, and the Schuler Family Foundation, This shall further boost the growth of global molecular diseases market during the tenure of 2017 to 2025.
Increasing number of People Suffering from STDs
Developing subsidizing by governments and various associations for R&D in molecular diagnostics is foreseen to drive the interest for sub-atomic testing. Subsidizing assumes a huge job in item advancement process. For example, Accelerate Diagnostics got USD 19.5 million from different elements, for example, Oracle Partners, Oracle Institutional Partners, and the Schuler Family Foundation, to upgrade the turn of events and deals of irresistible illness in vitro diagnostics tests and instruments. This as a result boosts the growth of global molecular diagnostic market from 2017 to 2025.
Global Molecular Diagnostic Market: Regional Analysis
North America was the biggest revenue generating region for molecular diagnostics market in 2016 and this pattern is projected to continue over the current forecast period. North America commanded the market attributable to the nearness of an entrenched analytic foundation, innovative progressions, understanding mindfulness, and nearness of cutting edge items in the global molecular diagnostic market.
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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