Molecular Diagnostics Aids Can Detect Various Chronic Infectious Diseases, Cancer, Inherited And Non-Inherited Disorders

Molecular diagnostics primarily refers to the class of diagnostic tests that identifies nucleic acids or proteins at the molecular level. Molecular diagnostics has emerged as one of the fastest growing segments in in vitro diagnostics industry. The market for molecular diagnostics has expanded rapidly since 1990’s with the introduction of PCR test for HIV and Chlamydia trachomatis and Neisseria gonorrhea (CT/NG). Since then, within a span of 20 years market has shown a significant growth. Currently, molecular diagnostics kits are being widely adopted for testing genetic diseases, cancer, hepatitis virus and hospital acquired infections. Likewise, molecular diagnostics kits are also being used extensively for blood donor screening test for hepatitis and HIV.

The molecular diagnostic tests uses a number of technologies such as polymerase chain reaction, hybridization (ISH AND FISH), mass spectrometry, transcription mediated amplification (TMA), next generation sequencing, biochips and microfluidics, others which includes nanotechnology and proteomics. The polymerase chain reaction dominated the molecular diagnostics market in Europe accounting for the share of 40.1% in 2014 as the technique is cost-effective way for copying or amplification of small segments of DNA or RNA.

Get PDF Brochure for more Professional and Technical industry insights: http://bit.ly/2cQyDGh

Molecular diagnostics aids in early detection of various chronic infectious diseases, cancer, inherited and non-inherited disorders. Growing prevalence of hospital acquired infections and increasing unhealthy lifestyle of the population in Europe is driving the growth of molecular diagnostics market in the region. In addition, technological advancement in the field of molecular techniques, nanotechnology and proteomics is also propelling the growth of molecular diagnostics market in Europe.

The Europe molecular diagnostics market is categorized on the basis of technology: polymerase chain reaction, hybridization (ISH AND FISH), mass spectrometry, transcription mediated amplification (TMA), next generation sequencing, biochips and microfluidics, others which includes nanotechnology and proteomics. The polymerase chain reaction segment dominated the Europe molecular diagnostics market in 2014. Factors such as cost-effectiveness, and acceptance of polymerase chain reaction over various other technologies contributed towards the growth of market segment. The next generation sequencing segment is expected to register the fastest growth during the forecast period due to high-throughput functional genomic research. The next generation sequencing technology finds its application in whole-genome sequencing, targeted resequencing, discovery of transcription factor binding sites, and noncoding RNA expression profiling.

Based on application, the Europe molecular diagnostics market has been segmented into seven types: oncology, infectious disease testing, genomics, blood screening, women's health, microbiology, and prenatal and newborn screening. Infectious disease testing held the largest market share in 2014 due to increasing incidence of chronic infectious diseases in Europe. Furthermore, increasing infections due to environmental pollution, and growing unhealthy lifestyles among the global population also contributed towards the growth of the infectious disease testing market.

According to a new market report published by Transparency Market Research “Molecular Diagnostics Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” the Europe molecular diagnostics market was valued at US$ 1.6 billion in 2014 and is estimated to reach US$ 4.2 billion by 2023 at a CAGR of 11.4% from 2015 to 2023.

The Europe molecular diagnostics market exhibits intense competition among the existing players. The market is fragmented, characterized by the presence of both established as well as emerging companies. Major players operating in the Europe molecular diagnostics market are F. Hoffmann-La Roche Ltd., Abbott Laboratories, QIAGEN N.V., Hologic, Inc., Cepheid, Inc., Siemens AG, Alere. Inc., BioMerieux, Bio-Rad Laboratories, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., and others.

About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact us:
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.