Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Molecular Diagnostics Market: Snapshot
Rising demand for molecular diagnostics solutions and technologies from industries such as in vitro diagnostics, personalized medicine, research and treatment of a variety of diseases has allowed a vast rise in growth opportunities for the global molecular diagnostics market in the past few years. Molecular diagnostics has led to advances in medical research and treatment of a number of diseases and continues to one of the leading enablers of innovative, accurate, highly sensitive, quick, and economic diagnosis of several diseases. These benefits of molecular diagnostics continue to drive the market.
Geographically, North America leads the global market of molecular diagnostics and is expected to dominate with a large share in the revenue pie of the global market throughout the report’s forecast period. In Asia Pacific, which has emerged as one of the most promising markets for molecular diagnostics owing to the rising patient pool of chronic diseases and an improving healthcare infrastructure in emerging economies, India, Japan, and China are expected to present considerable growth opportunities.
Remarkable expansion in diagnostic tests for infectious and genetic diseases is an excellent growth opportunity for the global molecular diagnostics market. In terms of technology, the segment of biochips/microarrays has reported the fastest growth pace over the report’s review period and is expected to expand favorably through the report’s forecast period. The report offers key insights about molecular diagnostics along with a detailed analysis of the factors affecting the growth of this market. Qualitative and quantitative insights on this market have also been presented through this research report.
Global Molecular Diagnostics Market: Overview
Molecular diagnostics refers to a collection of techniques used to analyze biological markers in the individual’s genetic code. The technique is used in diagnosing and monitoring diseases, detecting risks, and deciding suitable therapies for individual patients. It finds applications in blood screening, oncology, microbiology, and genetic tests. The technologies commonly employed in this technique are polymerase chain reaction (PCR), hybridization, isothermal nucleic acid amplification technology (INAAT), and DNA sequencing and next-generation sequencing. Some of the products and services used in the technique are instruments, reagents and kits, and software and services.
Global Molecular Diagnostics Market: Key Trends
The transformative and dynamic nature of molecular diagnostics has facilitated it in evolving as an attractive segment in the global in vitro diagnostics (IVD) industry. It has paved way for advancements in medical research and treatment of numerous diseases. The global demand for molecular diagnostics methodologies is largely supplemented by high sensitivity, accuracy, easy workflow, cost-effective testing, and fast turnaround time offered by these testing modalities.
In addition, these merits have created a gateway for personalized medicines, thus providing momentum to the global market. Moreover, the increasing prevalence of various types of cancer and infectious diseases is augmenting the market. Furthermore, reforms in the U.S. reimbursement scenario are working in favor of the overall market. However, delays in approvals of new molecular diagnostic tests due to the complex regulatory framework are limiting the market from realizing its full potential.
Global Molecular Diagnostics Market: Market Potential
Acquisitions and partnerships have emerged as a common trend in the global molecular diagnostics market over the past few years and are anticipated to continue in the coming years as well. For instance, in September 2016, Danaher acquired molecular diagnostics firm Cepheid for approximately US$4 bn. Another case in point is Qiagen N.V., which in July 2015 collaborated with multiplex clinical molecular diagnostics and multiplex molecular technologies developer Seegene Inc. Such deals are likely to make way for the development of novel diagnostics, which will not only help players in broadening their product offerings but also in making the future of the overall market bright.
Global Molecular Diagnostics Market: Geographical Segmentation
In terms of geography, the report presents an analysis of the market in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America will represent a large share in the market throughout the forecast period. The growth of the region can be attributed to the presence of well-established and advanced laboratory accreditation infrastructure, government initiatives promoting PoC facilities and awareness regarding the benefits of early diagnosis, and the increasing expenditure on healthcare.
Asia Pacific is expected to register a significant CAGR during the same period, with emerging countries such as India and China being the sights of high growth. The improving healthcare infrastructure, high unmet needs, and growing geriatric populations are attracting global players to invest in the region. The increasing external funding for clinical studies is likely to drive the growth of the region.
Global Molecular Diagnostics Market: Competitive Landscape
A raft of players in the global molecular diagnostics market is entering into strategic partnerships with biotech firms to provide novel diagnostics solutions in order to enhance their visibility. Companies are investing hefty funds in research and development activities to introduce cost-effective and innovative products that will help them in expanding their product portfolio. Several participants are focusing towards business expansion through mergers and acquisitions, which is likely to intensify the competition in the market in the near future.
Some of the prominent companies operating in the market are Abbott Molecular, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services Inc., Bio-Rad Laboratories, Inc., Alere Inc., Dako, Siemens Healthcare, Novartis AG, Becton, Dickinson and Company, Bayer AG, Danaher Corporation, Hologic, Inc. (Gen Probe), and Qiagen.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report