Viral Molecular Diagnostics Market to Expand Substantially Owing to Technological Innovations

Molecular diagnostics refers to a technique used to detect and identify the presence of genetic material or proteins associated with a specific health condition or disease. Viral molecular diagnostic helps in diagnosis of infectious diseases caused by virus. Viral molecular diagnostics has varied applications in hospitals, academics institutions, laboratories and others. On the basis of application, viral molecular diagnostics can be segmented into infectious diseases, genetics, blood screening, microbiology and others. On the basis of infectious diseases, viral molecular diagnostics market can be segmented into hepatitis B virus (HBV), hepatitis C virus (HCV), human immunodeficiency virus (HIV) human papillomavirus (HPV) and others. On the basis of technology, viral molecular diagnostics market can be segmented into polymerase chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), microarrays, in situ hybridization and others.

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North America, followed by Europe, has the largest market for viral molecular diagnostics due to developed healthcare infrastructure, accessibility and affordability of diagnostic tests for viral infectious diseases in this region. Asia is expected to show high growth rate in the viral molecular diagnostics market in next few years due to high incidence of viral infectious diseases and rise in awareness about treatments and disease diagnosis in the region.

Increasing demand for advanced molecular diagnostic tests, rise in the incidence for viral infection diseases, technological advancement in molecular diagnostics are expected to drive the market for viral molecular diagnostics. In addition, rise in awareness about viral infections and available diagnostic tests for viral infectious diseases are expected to drive the market for viral molecular diagnostics. However, lack of skilled professionals and high cost of molecular diagnostics are some of the major factors restraining the growth for global viral molecular diagnostics market.

Growing demographics and economies in the developing countries such as India and China is expected to lead the growth in viral molecular diagnostics market. In addition, innovations and development of advanced molecular diagnostic tests for viral infections and increasing awareness about the infectious diseases and diseases diagnosis are expected to offer new opportunities for global viral molecular diagnostics market. Increasing number of collaborations and partnerships and new product launches are some of the latest trends that have been observed in global viral molecular diagnostics market.

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Some of the major companies operating in the global viral molecular diagnostics market are Abbott Laboraories, Inc., Bio-Rad Laboratories, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd, Roche Diagnostics, Qiagen, Olympus Corporation, Thermo Fisher Scientific, Inc. and Gen-Probe, Inc.

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