Molecular Diagnostics Market Expected to Cross 17.5% CAGR by 2023 Along with Hologic, Grifols, Abbott, Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc, etc

Molecular Diagnostics Industry Updates

Recently in 2018, Agilent Technologies Inc. acquired Lasergen Inc., a company devoted towards R&D of technologies for DNA sequencing. Through the collaboration, the company intends to strengthen its hold in the molecular diagnostic market and develop an integrated clinical workflow solution and provide mass access to molecular diagnostics.

Agendia, a leading medicine, and molecular cancer diagnostics has entered into a marketing agreement with Angsana Molecular & Diagnostic Laboratory, to market Agendia's MammaPrint and BluePrint tests. These tests will aid physicians in treatment management for early breast cancer and Angsana will market these tests in Southeast Asia.

Myriad Genetics, Inc., a leading company pioneering molecular diagnostics has announced seven new payer coverage decisions for Prolaris, a standard 46-gene RNA-expression test for detection and measurement of prostate cancer. 25 leading insurer in the U.S. are included in the payers.

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Molecular Diagnostics Market - Overview

Global Molecular Diagnostics Market is expected to grow at a CAGR of 9.6% during forecasted period 2018-2023. Molecular diagnostics is a branch of diagnostics which utilizes molecular biology to detect and measure the presence of genetic material or proteins related to a specific health condition. Molecular diagnostics is an integral part of in-vitro diagnostics, used to detect definite sequences in DNA/RNA, or in single nucleotide polymorphism (SNP), rearrangements, insertions and deletions. It is a collection of techniques used to analyse biomarkers in genomics and proteomics. Molecular diagnostics plays a vital role in infectious disease testing as they provide fast and effective results. Molecular diagnostics is a significant tool when it is essential to diagnose and treat at molecular level.

Molecular diagnostics market is driven by advancements in technology as they provide higher accuracy and cost-effectiveness. The growing incidence of infectious diseases and various types of cancers rise in awareness programs, progress in biomarker identification, acceptance of personalized medicines are the factors expected to drive the market growth over the forecast period. Additionally, rise in occurrence rates of cardiovascular disorders, genetic disorders, neurological disorders are also expected to fuel the market growth.

Key players for Global Molecular Diagnostics Market

Hoffmann-La Roche Ltd. (U.S.), QIAGEN N.V. (the Netherlands), Hologic, Inc. (U.S.), Grifols (Spain), Abbott (U.S.), Siemens Healthcare GmbH (Germany), Bio-Rad Laboratories, Inc. (US), BD (U.S.), Beckman Coulter Inc. (U.S.), bioMérieux SA (France), and Cepheid (U.S.), Danaher (U.S.).

The North America dominates the global market for molecular diagnostics as it holds the highest market share due to increasing demand for the advanced techniques in molecular diagnostics, large elderly population, increase in the number of cases of infectious and chronic diseases, and acceptance of personalized medicines are the major factors for the growth of American market.

Hoffmann-La Roche Ltd, an American multinational company headquartered in US, is one of the leading players in molecular diagnostics. The company develops and produces innovative tests-based polymerase chain reaction (PCR). The tests are developed for virology, oncology, microbiology, HPV and for screening of blood products to be used by doctors, laboratories, hospitals and blood banks. Roche has announced the grant obtained from European Medicines Agency (EMA) for investigational medicine RG6042 as PRIME (PRIority Medicines) used for treatment of people suffering from Huntington’s disease.

Furthermore, Abbott Laboratories an American health care company headquartered in US. It focusses in molecular diagnostics and the analysis of DNA, RNA, and proteins at the molecular level for physicians, laboratories. The company also offers technologies and assays that detect and monitor infectious diseases, sexually transmitted diseases. In August 2016 Abbott Laboratories introduced Alinity used for clinical chemistry, blood and plasma screening, immunoassay and molecular diagnostics. It offers AneuVysion, FISH, FISH accessories/FISH general reagents.

The Hologic Inc. an American medical technology company focused on improving wellbeing of women’s health by early detection and treatment. The company’s core units are focussed on diagnostics, breast health, skeletal health and others. Hologic concentrating on expanding their products has acquired Gen-Probe in April 30, 2012, thus announcing a merger with Gen-Probe approximately for USD 3.72 billion by cash to focus on cancer diagnostics. The focus on women’s health being has resulted in change of the company’s tagline to “The Science of sure”.

The Cepheid Inc. an American molecular diagnostics company headquartered in US. The company offers clinical tests in the areas of healthcare-associated infections, critical infectious diseases and for oncology. Cepheid was acquired by Danaher corp. on November 4, 2016.

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