Molecular Diagnostics Market Size, Share and Worldwide Trend Analysis & Forecast 2018-2019

This Molecular Diagnostics Market report is segmented based By Product Type (Instruments Reagents & Consumables), Application (Infectious Disease, Blood Screening, Histology & Oncology), Technique (Hospitals Amplification, Hybridization & Sequencing Techniques), End User (Hospitals, Clinical & Pathology Labs) and Geography Forecast till 2025

Pune, India - June 4, 2019 /MarketersMedia/ —

The Global Molecular Diagnostics Market is projected to grow with rising technological developments in molecular diagnostic techniques. These advancements are intended to offer higher accuracy, cost-effectiveness, and portability which further drives the market. This information was published by Fortune Business Insights in a report, titled “Molecular Diagnostics Market Size, Share and Global Trend By Product Type (Instruments Reagents & Consumables), Application (Infectious Disease, Blood Screening, Histology & Oncology), Technique (Hospitals Amplification, Hybridization & Sequencing Techniques), End User (Hospitals, Clinical & Pathology Labs) and Geography Forecast till 2025” offering insights on factors influencing growth.

Molecular Diagnostics Market emerged as a superior methodology in the past decade since it provides a faster diagnosis with minimal complexities. The demand for molecular diagnosis is expected to rise due to the rising prevalence of infectious diseases in both developing and developed nations. Major outbreaks of bacterial and viral infections in the Middle East and Africa have compelled all government and research institutions worldwide to adopt molecular diagnostics for inhibiting microbial outbreaks.

The global market covered the value of US$ 8012.7 Mn in the year 2017 and is projected to reach US$ 13873.6 Mn by 2025. As per the report, the global market is expected to garner a healthy CAGR of 7.1% throughout the forecast period.

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Infectious Diseases: The Largest Growing Segment Among Other Applications

Among applications, the infectious diseases segment is expected to account for a majority of share in the global molecular diagnostic market. The scope of this segment is increasing owing to the rising number of patients suffering from infections and microbial outbreaks. Moreover, the infectious diseases segment covered a share of 60% in the year 2017. The development of tests for several diseases and raising awareness about the benefits of adopting molecular diagnostic technologies may prevent the occurrence of infectious diseases.

Global organizations such as the World Bank and the World Health Organization (WHO) are planning to conduct awareness programs to increase the talent pool for molecular diagnostics. Adoption of molecular diagnostic systems is rising among end-users such as clinics, hospitals, emergency centers, and pathology labs.
North America Continues to Maintain Its Stronghold until 2025
“Well-established healthcare infrastructure, combined with the rising incidence of cancer is helping the market grow in North America,” stated a lead analyst at Fortune Business Insights. “Developed healthcare systems further helps in the easy availability and accessibility of advanced instruments such as molecular diagnostics. In 2017, this regional market was valued at US$ 3639.4 Mn and is likely to lead the global landscape through the forecast period. The rising collaborations and association between research hospitals and academic institutions encourage the growth of the market in this region. Both bodies are involving in continuous discussions for process improvements in molecular diagnosis.
The market in Europe is also expected to witness considerable growth with the growing emphasis on clinical microbiology and hospital research organizations. This is mainly done to increase the number of molecular diagnostic techniques. Rapidly developing healthcare infrastructure and rising investments in research and development activities are factors responsible for creating good growth opportunities.

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Transformation in Healthcare May Lead to Innovative Molecular Diagnostic Systems
The evolution of molecular diagnosis over the years has given birth to different molecular diagnostic tests. These tests help to detect specific RNA or DNA sequences. In addition to this, they help to get an understanding if these sequences are associated with diseases or not. With the rapid transformation of healthcare, innovative molecular diagnostic tests are likely to introduce in the coming years.
This will further transform the molecular biology field. Other factors driving the molecular diagnostic market are the rising demand for healthcare facilities and personalized medicine. Furthermore, several favorable policies by governments with an aim to encourage care diagnosis and increase awareness about diagnostic procedures drives the market.

Lack of Experts to Conduct Molecular Diagnostic Tests May Hamper the Growth

Although the market is growing at a rapid pace, there are certain factors that may restrict growth. The molecular diagnostic tests are expensive, which makes it difficult for people with low-income groups to afford these tests. Also, lack of experts to handle such instruments especially in developing countries may impede the growth to some extent. However, with the advent of advanced technology, the introduction of new molecular diagnostic systems may help to overcome such challenges.

Abbott Launched a Next Generation System Used for Molecular Diagnosis

The global molecular diagnostics market is expected to be dominated by companies such as Danaher, Abbott, QIAGEN, and F. Hoffmann-La Roche Ltd. Strong supply chain network, rising research and development (R&D) activities, and development strategies are likely to create growth opportunities for the above companies. In 2016, Abbott announced the introduction of a next-generation system called Alinity. This system is used for plasma and blood screening, hematology procedures, molecular diagnostics, and clinical chemistry.
Companies are focussing on to develop new molecular diagnostic tests, which may foster the growth of the market. In 2018, Banyan Biomarkers received marketing authorization from the U.S. FDA on its first blood diagnostic test. This test was developed to treat traumatic brain injuries which are also referred to as concussion among adults. These developments are likely to have a positive impact on the overall market.

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