Molecular Diagnostics Market Driven by Increasing Awareness and Acceptance of Companion Diagnostics and Personalized Medicines

According to the research report, the global molecular diagnostics market was valued at US$4.3 bn as of 2012. Analysts predict that the global molecular diagnostics market will register a CAGR of 11.1% from 2013 to 2019 to reach US$8.7 bn by the end of 2019 due to the growing demand for molecular diagnostics and increasing awareness of the same.

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Molecular diagnostics are used for identifying the molecular and genetic biomarkers of a patient. The purpose of these diagnostics is to analyze the DNA and RNA at the molecular level. Molecular diagnostic tests are extensively utilized in several clinical applications. Previously, molecular diagnostics were only conducted by highly skilled practitioners and involved exceptionally high costs.

In recent times, the reduced costs of per sample analysis, improvements in automation, falling labor costs, and advancements in technologies are expected to increase the usage of molecular diagnostics tests.

The global molecular diagnostics market has been segmented on the basis of technology, application, and geography. The technologies used in this market are PCR, next-generation sequencing, transcription mediated amplification (TMA), microarray, hybridization techniques, and others. The applications of these technologies are diagnosing infectious diseases, blood donor screening, and others.

The branches in which molecular diagnostic tests are used are virology, bacteriology, and genomics. Virology includes HIV testing, HCV testing, HPV testing, and others, while bacteriology is divided into HAI testing, CT/NG testing, and others. Lastly, genomics includes genetic testing for inherited disorders, human leukocyte antigen (HLA) testing, pharmacogenetics testing, and oncology testing. Geographically, this market is segmented into Asia Pacific, Europe, North America, and Rest of the World.

Of all the technologies in the global molecular diagnostics market, the next-generation sequencing technology segment is expected to grow at an accelerated pace in the coming years due to the quick turnaround time of these tests as well as their high sensitivity. Furthermore, the affordability of these tests is also likely to boost their demand in the coming few years. The analysts predict that the market for PCR will drop in the forecast period despite the segment being the largest shareholder in the global molecular diagnostics market in 2012.

Some of the important players in the global molecular diagnostics market are Roche Diagnostics, Abbott Laboratories, Cepheid, and Becton Dickinson & Company. The research report offers a detailed explanation of the competitive landscape of the global molecular diagnostic market and states the influence of the regulatory framework governing it.

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Furthermore, the research report also evaluates the financial overview, research and development strategies, strategic mergers and acquisitions, and product portfolio of these top players.

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