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Molecular Diagnostics Market: Opportunities and Challenges

11-14-2019 09:46 AM CET | Health & Medicine

Press release from: MarketsandMarkets

Molecular Diagnostics Market

Molecular Diagnostics Market

The Global Molecular Diagnostics Market is projected to reach USD 11.54 billion by 2023 from USD 7.71 billion in 2018, at a CAGR of 8.4% during the forecast period.

How do advances in genomics and proteomics create opportunities for players in the molecular diagnostics market?

Advances in genomics and proteomics have resulted in the development of a multitude of assays and technologies useful for the diagnosis and management of diseases. The new technologies, based on genomics techniques such as PCR and proteomics, help in the discovery of new molecular diagnostics approaches for disease diagnosis and disease pathogenesis. They also enable better surveillance and rapid diagnosis.

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Genomics and proteomics are research-driven sectors. Thus, advanced technologies developed through combined efforts by pharmaceutical research companies, the medical community, and government agencies can help combat the threat posed by various infections and cancers. The availability of funds from organizations such as the National Institutes of Health (NIH) and the National Science Foundation (NSF) for various projects has resulted in an increase in the number of research activities in these fields. With growing research in proteomics and genomics, the commercialization of more advanced molecular diagnostics techniques is expected in the coming years.

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Will the dearth of trained professionals limit the appropriate use of new molecular diagnostics technologies?

The knowledge of molecular diagnostics technologies is vital for effectively carrying out molecular diagnostics tests. Molecular assays are sensitive to the quantity and purity of the samples used, and small deviations can lead to erroneous and variable inferences. In addition, different and complex types of platforms, instruments, and laboratory documentation systems are used in the MDx field. Clinical microbiology laboratories across major markets are still evolving, and their technicians face operational challenges for sample procurement, storage, and transportation, especially while adopting novel technologies such as NGS and lab-on-a-chip PCR devices.

Furthermore, due to the rapid mutation of microbes and the increasing outbreak of epidemics, clinical laboratories need to adopt innovative technologies capable of rapid sample diagnosis. Hence, it is mandatory that all laboratories and setups are well-versed with the technologies in order to begin practice. Well-qualified and skilled personnel with special training are required for the effective analysis of solutions. As the level of awareness about the latest advancements in molecular tests is low among a number of clinicians, it is resulting in an operational gap for clinical laboratories, and the uptake of such technologies is largely restricted. Thus, the dearth of skilled, well-trained, and technically knowledgeable laboratory technicians to operate advanced molecular diagnostics products is limiting their overall adoption, particularly in emerging markets.

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