How COVID-19 Impacting Molecular Diagnostics Market ? Top Key Players : BioMérieux SA., BD , Danaher , Grifols S.A. , Hologic Inc. , Novartis AG , QIAGEN , Siemens Healthcare GmbH , F. Hoffmann-La Roche Ltd.

The Global Molecular Diagnostics Market is projected to grow with rising technological developments in molecular diagnostic techniques. These advancements are intended to offer higher accuracy, cost-effectiveness, and portability which further drives the market. This information was published by Fortune Business Insights in a report, titled "Molecular Diagnostics Market Size, Share and Global Trend By Product Type (Instruments Reagents & Consumables), Application (Infectious Disease, Blood Screening, Histology & Oncology), Technique (Hospitals Amplification, Hybridization & Sequencing Techniques), End User (Hospitals, Clinical & Pathology Labs) and Geography Forecast till 2025" offering insights on factors influencing growth. The global market covered a value of US$ 8012.7 Mn in the year 2017 and is projected to reach US$ 13873.6 Mn by 2025. As per the report, the global market is expected to garner a healthy CAGR of 7.1% throughout the forecast period.

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The report covers :
o Global Molecular Diagnostics Market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast time frame.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.

An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this [Market].
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Leading Players operating in the Molecular Diagnostics Market are :

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
o BioMérieux SA.
o BD
o Danaher
o Grifols, S.A.
o Hologic Inc.
o Novartis AG
o QIAGEN
o Siemens Healthcare GmbH
o F. Hoffmann-La Roche Ltd.
o Other players

Infectious Diseases: The Largest Growing Segment Among Other Applications
Among applications, infectious diseases segment is expected to account for a majority of share in the global molecular diagnostic market. The scope of this segment is increasing owing to the rising number of patients suffering from infections and microbial outbreaks. Moreover, the infectious diseases segment covered a share of 60% in the year 2017. Development of tests for several diseases and rising awareness about the benefits of adopting molecular diagnostic technologies may prevent the occurrence of infectious diseases.
Global organizations such as World Bank and the World Health Organization (WHO) are planning to conduct awareness programs to increase the talent pool for molecular diagnostics. Adoption of molecular diagnostic systems is rising among end-users such as clinics, hospitals, emergency centers, and pathology labs.

Transformation in Healthcare May Lead to Innovative Molecular Diagnostic Systems
The evolution of molecular diagnosis over the years has given birth to different molecular diagnostic tests. These tests help to detect specific RNA or DNA sequences. In addition to this, they help to get an understanding if these sequences are associated with diseases or not. With the rapid transformation of healthcare, innovative molecular diagnostic tests are likely to introduce in the coming years.
This will further transform the molecular biology field. Other factors driving the molecular diagnostic market are rising demand for healthcare facilities and personalized medicine. Furthermore, several favourable policies by governments with an aim to encourage care diagnosis and increase awareness about diagnostic procedures drives the market.

Lack of Experts to Conduct Molecular Diagnostic Tests May Hamper the Growth
Although the market is growing at a rapid pace, there are certain factors that may restrict the growth. The molecular diagnostic tests are expensive, which makes it difficult for people with low-income groups to afford these tests. Also, lack of experts to handle such instruments especially in developing countries may impede the growth to some extent. However, with the advent of advanced technology, introduction of new molecular diagnostic systems may help to overcome such challenges.

Abbott Launched a Next Generation System Used for Molecular Diagnosis
The global molecular diagnostics market is expected to be dominated by companies such as Danaher, Abbott, QIAGEN, and F. Hoffmann-La Roche Ltd. Strong supply chain network, rising research and development (R&D) activities, and development strategies are likely to create growth opportunities for the above companies. In 2016, Abbott announced the introduction of a next-generation system called Alinity. This system is used for plasma and blood screening, haematology procedures, molecular diagnostics, and clinical chemistry.

Companies are focussing on to develop new molecular diagnostic tests, which may foster growth of the market. In 2018, Banyan Biomakers received marketing authorization from the U.S. FDA on its first blood diagnostic test. This test was developed to treat traumatic brain injuries which is also referred to as concussion among adults. These developments are likely to have a positive impact on the overall market.

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