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Major Growth Expected in Molecular Diagnostics Market | Key Company Profiled - Abbott Molecular Cepheid, BioMerieux’s, Roche diagnostics, Danaher Corporation, Siemens Healthcare, Qiagen Gaithersburg, Johnson and Johnson, Agilent (Dako), GenMark diagnost

02-25-2019 02:21 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Molecular Diagnostics Market

Molecular Diagnostics Market

U.S molecular diagnostics market dominates the industry with USD 3.1 billion in 2017. Preference for precise and early detection of infectious and other chronic disease coupled with rising prevalence of such chronic diseases will augment the demand for molecular diagnostics tests. Well established presence of industry players conducting robust research and development will support industry growth.

China Molecular diagnostics market will witness 12.4% CAGR over the analysis period. The market is at initial stages of development and will provide lucrative growth opportunities in near future. Substantial number of molecular diagnostics tests are being conducted in china using domestically produced kits. Ongoing infrastructure development, rising incidences of infectious diseases and increasing awareness levels will boost industry growth.

Some of the key industry players operating in global molecular diagnostics market are BioMerieux’s, Siemens Healthcare, Roche diagnostics, Qiagen Gaithersburg, Danaher Corporation, Cepheid, Agilent (Dako), Johnson and Johnson, GenMark diagnostics, Analytik Jena and Alere Inc. Industry players are adopting inorganic as well as organic growth strategies such as partnership and innovative product lauch to garner higher market share.

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Genetic testing application segment is estimated to witness 10.2% CAGR from 2018 to 2024. Genetic testing carefully analyze the human DNA, RNA and chromosome to provide deeper insights regarding diseasing causing genes. This enables personalized treatment best suited to individual rather than generalized treatment approach. Increasing incidences of genetic diseases coupled with ongoing technological advancements in the field of genetics will augment the segment growth.

PCR technology segment dominated molecular diagnostics market 2017 with revenue USD 3.1 billion in 2017 and the scenario is likely to remain so for the near future. Technological advancements such as development of real time PCR that is considered as fast and accurate platform will further support segment growth. However, other technologies such as DNA sequencing are expected to grab significant revenue share from PCR technology segment over the forecast period.

Molecular Diagnostics Market size is set to exceed USD 12.5 billion by 2024; according to a new research report by Global Market Insights.Technological advancements and consequent development of superior molecular diagnostic techniques for early and accurate diagnosis of chronic diseases will drive molecular diagnostics market growth over the forecast period. Consumers in developed economies are far more informed about the availability of these advanced technologies and plays crucial role in driving the demand. Moreover, the accessibility as well as awareness levels are also rising in developing regions that is expected to influence industry growth.

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Infectious and genetic diseases are one of the key causes of mortality across the globe. Early and accurate detection of these diseases allows better management while late diagnosis makes treatment difficult. Conventional diagnostic techniques fall short in terms of accuracy and rapid turnaround time required for diagnosis at early stage. It has created intense need for superior diagnostic methods. Increasing incidences of infectious and genetic diseases and associated mortality rates are predicted to catalyze the adoption of molecular techniques for early diagnosis and better management of infectious diseases. Complex nature of the regulations and excessive cost of advanced molecular techniques are expected to hinder the industry growth to some extent.

Genetic testing application segment is estimated to witness 10.2% CAGR from 2018 to 2024. Genetic testing carefully analyze the human DNA, RNA and chromosome to provide deeper insights regarding diseasing causing genes. This enables personalized treatment best suited to individual rather than generalized treatment approach. Increasing incidences of genetic diseases coupled with ongoing technological advancements in the field of genetics will augment the segment growth.

PCR technology segment dominated molecular diagnostics market 2017 with revenue USD 3.1 billion in 2017 and the scenario is likely to remain so for the near future. Technological advancements such as development of real time PCR that is considered as fast and accurate platform will further support segment growth. However, other technologies such as DNA sequencing are expected to grab significant revenue share from PCR technology segment over the forecast period.

Report Content

Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary

Chapter 2. Executive Summary
2.1. Molecular diagnostics industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Technology trends
2.1.4. Regional trends

Chapter 3. Molecular Diagnostics Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Technological advances and increasing awareness towards early disease diagnosis
3.3.1.2. Escalating demand for POC diagnostics
3.3.1.3. Increasing geriatric population
3.3.1.4. Increasing number of R&D initiatives
3.3.1.5. Upward trend in infectious disease prevalence
3.3.2. Industry pitfalls & challenges
3.3.2.1. Lack of clear and uniform regulatory framework
3.3.2.2. Increasing cost of disease diagnostics
3.4. Growth potential analysis
3.4.1. By application
3.4.2. By technology
3.5. Technology landscape
3.5.1. Product innovation
3.6. Pipeline analysis
3.7. Pricing analysis
3.7.1. Average regional prices
3.8. Porter’s analysis
3.9. Competitive landscape, 2017
3.9.1. Strategy dashboard
3.10. PESTEL analysis

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Blog : http://news-researchers.com/

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