Global Molecular Diagnostics Market is Estimated to Value Over USD 12.6 Billion by 2026 End

  • 27 Sep 2019

Global Molecular Diagnostics Market is estimated to value over USD 12.6 billion by 2026 end and register a CAGR of over 8.9% during the forecast period 2019 to 2026.

 

Growth in this market is primarily steered by the high incidence of infectious diseases and different cancers, advancements in molecular methods and increasing acceptance and awareness of companion diagnostics and personalized medicine.

Instruments such as next generation sequencing (NGS) platforms PCR are mainly preferred by diagnostic institutes and central laboratories owing to swift test nature in reliable and quick delivery of results and high procedural volume of diagnostics in this segment. Other advantages of this segment are test user-friendliness which is projected to boost the growth of the segment.

With the use of molecular diagnostics tools, clinicians are provided with more efficient options in order to detect numerous infectious virus, pathogens and bacteria in a short span of time with simultaneously delivering highly accurate and early results. Organizations like the WHO have taken initiatives to organize programs related to diagnostics in high-risk regions are predicted to assist in the expansion of the global molecular diagnostics market size.

Prenatal genetic testing, which is performed for early foetus abnormality detection, is projected to increase the number of clients. Furthermore, unhealthy lifestyle adoption leading to an ever-rising patient population affected with persistent diseases like cardiovascular disorders and diabetes is predicted to impact the augmentation positively.

Rising healthcare expenditure, expansion of research and development activities regarding drug development and discovery and increasing patient awareness are projected to steer the market in Europe and North America. Growing demand for innovative diagnostics technologies used for preventing unaddressed clinical needs, epidemics and recent movements by key market players focussing on the expansion in this region are the primary factors bolstering the augmentation of the Asia Pacific region. In emerging economies of Nigeria and Africa, infections such as tuberculosis and HIV are rising at an alarming rate in recent years. Thus, it is anticipated that this shall increase the insistence for accurate and early diagnostic methods in order to reduce the surge of these diseases which shall aid the global molecular diagnostics market growth.

 

Key market players included in the global molecular diagnostics industry are Abbott, Becton, Dickinson and Co., Biomerieux SA, Bio-Rad Laboratories Inc., Dako, Danaher Corp., Hologic Inc., Illumina Inc., Johnson & Johnson Services, Novartis, Qiagen, Rocne Diagnostics, Siemens Healthcare Private Ltd., Sysmex Corp.

 

Global Molecular Diagnostics Market Segmentation:

By Product

  • Instruments
  • Reagents
  • Others

By Test Location

  • Point of Care
  • Self-Test or OTC
  • Central Laboratories

By Technology

  • PCR

- Multiplex PCR

- Others

  • ISH
  • INAAT
  • Chips and Microarrays
  • Mass Spectrometry
  • Sequencing
  • TMA
  • Others

By Application

  • Oncology

- Breast Cancer

- Prostate Cancer

- Colorectal Cancer

- Cervical Cancer

- Kidney Cancer

- Liver Cancer

- Blood Cancer

- Lung Cancer

- Others

  • Pharmacogenomics
  • Infectious Disease

- MRSA

- Clostridium Difficile

- Vancomycin-Resistant Enterococci

- Carbapenem-Resistant Bacteria

- Respiratory Syncytial Virus (RSV)

- Candida

- Tuberculosis and Drug-Resistant TBA

- Meningitis

- Gastrointestinal Panel Testing

- Chlamydia

- Gonorrhoea

- HIV

- Hepatitis C

- Hepatitis B

- Other

  • Genetic Testing

- New born Screening

- Predictive and Presymptomatic Testing

- Others

  • Neurological Disease
  • Cardiovascular Disease
  • Microbiology
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the global molecular diagnostics market by product, by test location, by technology, by application and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific Latin America and Middle East & Africa
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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