Published: Apr, 2019
The global molecular diagnostics market is estimated to witness a notable growth in forthcoming years, says analysts at TMR. The market is foreseen to project a consolidated landscape, since its three key players collectively account for had secured a combined share of 54.0% back in 2015. The three main players are, Abbott Laboratories, F. Hoffmann-La Roche AG, and Danaher Corporation projected their lead in the past few years. To create an innovative molecular diagnostic tools with improved functionalities, several firms are investing massively in R&D activities. The key players are focusing mainly on improving their product portfolio and getting into various mergers and collaborations.
According to a recent report by Transparency Market Research (TMR), the global molecular diagnostics market is likely to expand at a CAGR of 11.6% within the forecast period 2016 to 2025. In 2015, the market was valued at US$7.1 bn and is foreseen to grow around worth of US$18.9 bn by 2025 end.
Based on technology, the global molecular diagnostics market is classified into hybridization, PCR and real-time PCR, transcription-mediated amplification, microarray, and next-generation sequencing. Among these, the polymerase chain reaction segment held maximum share of entire market with 39.1% in 2016. This surging demand is credited to affordability. Geographically, North America in 2016, held around 39.1% share of the global molecular diagnostics market. This is due to rising cases of contagious diseases.
Need for Quick Diagnosis to Fuel Market Demand
Unfaltered prognosis of various chronic ailments, for example, HIV and hepatitis and the swelling demand for biomarkers for quick diagnosis have been foreseen to be key for the development of the global molecular diagnostics market. One of the critical factor expected to help market development could be the expanding R&D activities in biomarkers found in a few developed and developing countries.
In the upcoming years, there has been a increasing cases of STIs, for example, Neisseria gonorrhea and Chlamydia trachomatis which required a need of tests to diagnose them. Resultantly, the demand regarding molecular diagnostics has remained high since the previous couple of years. The grwoth of molecular diagnostics has been conceived to be supported by the simplicity of activity and comfort offered to clinicians. Besides, advanced biomarker have fundamentally diminished the computational time of normal multiplexed stages.
Delayed Approvals by FDA to Hinder Market Growth
The income development of the global molecular diagnostics market has been forecasted to be hampered by delayed approval from the FDA and other administrative experts. This has made a lack of advanced molecular diagnostics devices for clinicians to treat chronic sicknesses and infections. Additionally, absence of promising reimbursement approaches has been anticipated to bring down the popularity of molecular diagnostics.
Nevertheless, the demand for molecular diagnostics has been forecasted to pick up strength on the back of the rising quality of customized treatments in various developed nations. Also, the flooding necessity of advanced healthcare in developed region could expand the demand in the coming years. The take-up of molecular diagnostics stages in purpose of-care settings could help uncover rewarding roads in forthcoming years.
The data and information presented is based on the findings of a TMR report, titled “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.”
The global molecular diagnostics market is segmented as given below:
Global Molecular Diagnostics Market, by Technology
- PCR and Real-Time PCR
- Transcription-Mediated Amplification
- Next-Generation Sequencing
- Others (Mass Spectrometry, etc.)
Global Molecular Diagnostics Market, by Application
- Infectious Diseases
- Blood Screening
- Genetic Testing
- Women’s Health
Global Molecular Diagnostics Market, by End Use
- Diagnostic Laboratories
- Blood Banks
Global Molecular Diagnostics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453