Molecular Diagnostics Market Key Trends and Top Players to 2023 - Personalized Medicine, Companion Diagnostics and Biomarker Identification Applications

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The global molecular diagnostics market is segmented into PCR and real-time PCR, hybridization, microarray, transcription-mediated amplification, and next-generation sequencing. Out of these, the polymerase chain reaction accounted for the largest share in the overall market by accounting 39.1% of shares in 2016. This demand for technology is attributable to cost-effectiveness.

Growth in molecular diagnostics market is primarily driven by the high prevalence of infectious diseases and various types of cancers, increasing awareness and acceptance of personalized medicine and companion diagnostics, growth in the biomarker identification market, and advancements in molecular techniques. Research analyzes micromarkets with respect to individual growth trends, prospects, and contributions to the global molecular diagnostics market.

The global molecular diagnostics market is segmented based on type, technology, application, end user, and geography. Based on type, it is classified into instruments, reagents, and software & services. The reagents segment contributed the highest share in 2018, owing to the rise in demand for solutions, quality control reagents, and different reagents for different tests.

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In this report, the molecular diagnostics market is segmented on the basis of product& service, application, technology, end user, and region. The study tracks and analyzes competitive developments such as product launches& approvals, acquisitions, collaborations, agreements, partnerships, and expansions, and core competencies in the molecular diagnostics market.

Key players in global molecular diagnostics market are Roche (Switzerland), Hologic (US), QIAGEN (Netherlands), Abbott (US), and Danaher (US). These players focus on inorganic strategies such as acquisitions, partnerships, agreements, and collaborations and organic strategies such as expansions and product launches & approvals to sustain their positions in the molecular diagnostics market.

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The molecular diagnostics market report gives an in-depth segmentation of the market by products, technology and applications. It also segmented by end user verticals and key geographic regions like Americas, Europe and Asia-pacific. Cost analysis, pricing analysis and the overall competitive landscape of key players are also analyzed in great detail in the report.

Asia Pacific expected to register highest CAGR in molecular diagnostics market during forecast period. Market growth in Asia Pacific is attributed to growing GDPs and a significant rise in disposable income levels, increased healthcare spending by a larger population base, modernization of healthcare infrastructure, & rising penetration of cutting-edge clinical laboratory technologies.

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