Press release
Molecular Diagnostics Market To Grow At 9% CAGR Till 2024 - Hexa Research
Increasing prevalence of infectious diseases, cancer, genetic disorders, and other contagious disease are likely to drive the molecular diagnostics industry. Hospital acquired infections and other communicable infections are expected to boost market growth in the coming eight years. Moreover prenatal genetic testing is also expected to increase the adoption of this diagnostics.
Unhealthy lifestyle can further contribute to large number of people getting afflicted with chronic ailments like cardiovascular disorders and diabetes. This with further propel market growth in the coming years. Molecular diagnostics market is divided into products, technologies, applications, test location, and regions.
On the basis of products, the market is split into instruments, reagents, and others. Reagents segment held the largest share in 2015 with revenues exceeding USD 3.5 billion. It is expected to grow at a CAGR surpasing 12%. Instruments segment is expected to show a significant growth in the coming years.
Browse Details of Report @ https://www.hexaresearch.com/research-report/molecular-diagnostics-industry
Technologies consist of polymerase chain reaction (PCR), in-situ hybridization, chips and microarrays, mass spectrometery, DNA sequencing, transportation mediated amplification, and others. PCR held the largest market share of over USD 2.5 billion in 2015. Growth of this segment can be attributed to its high incorporation among the researchers and healthcare professionals. DNA sequencing is likely to show a growth of about 16% CAGR in the coming years.
Applications encompass oncology, pharmacogenomics, infectious diseases, genetic testing, neurological diseases, cardiovascular diseases, and others. Infectious diseases segment was the largest application holding market share exceeding 45% in 2015.
Oncology segment is anticipated to show a CAGR of about 13% till 2024. Rising awareness among people regarding early cancer diagnosis is the key aspect propelling market growth of the segment.
Test location comprises of point of care (PoC), self test or over the counter (OTC), and central laboratories. Central laboratories dominated the market with over 60% shares in 2015. The growth of the central laboratories can be attributed to their large prominence in underdeveloped countries, rising awareness about early detection of diseases, and high procedure volumes.
The PoC is expected to project a lucrative growth with a CAGR of more than 14%. The growth of this segment can be attributed to the increasing demand of bedside patient monitoring and innovative technological devices.
Regions are fragmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA). America dominated the market with over 40% revenue share. Asia Pacific is likely to exhibit a growth of around 12%CAGR in the coming years.
The key global players of the molecular diagnostics market include Siemens Healthcare GmbH, Novartis AG (Grifols), F. Hoffmann-La Roche Limited, and Johnson & Johnson.
Browse Related Category Market Reports @
https://www.hexaresearch.com/research-category/biotechnology-industry
About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com
Website - http://www.hexaresearch.com/
Visit Our Blog - https://hexaresearchinc.wordpress.com/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Molecular Diagnostics Market To Grow At 9% CAGR Till 2024 - Hexa Research here
News-ID: 555648 • Views: …
More Releases from Hexa Research
Acetic Acid Market Research & Development | Industry Report, 2022
The global acetic acid market will be valued at more than $13 billion in 2022. Growing demand for applications like Purified Terephthalic Acid (PTA) and Vinyl Acetate Monomer (VAM) will contribute to this growth. PTA is increasingly being consumed for manufacturing polyester, which is an important constituent of the textile and packaging industries. PTA is expected to witness the fastest growth with a CAGR of more than 4.9% from 2015…
Digitally Printed Wallpaper Market Research & Development | Industry Report, 202 …
The global digitally printed wallpaper market is anticipated to reach USD 13.07 billion by 2025 from USD 2.33 billion in 2017 and is expected to register a CAGR of 24.01% from 2017 to 2025. Growing awareness of home decor market is expected to drive the market for the residential and nonresidential segments. Increased construction in the emerging economies, growth in the residential sector and increasing consumer desire for premium home…
Enhanced Oil Recovery (EOR) Market offshore segment is expected to grow at CAGR …
The global enhanced oil recovery (EOR) market size is estimated to reach USD 55.02 billion by 2025, fueled by the increasing demand for energy in a broad range of applications including manufacturing, infrastructure and utilities. Rising number of aged wells resulting in low oil output has paved the way for advanced technologies including EOR to achieve optimum production.
Keeping these driving factors in mind, companies are focusing on developing advanced technologies…
U.S. Organic Food Market Size and Share | Industry Report, 2025 | Hexa Research
The U.S. organic food market size is expected to reach USD 70.4 billion by 2025 as a result of increasing demand from consumers. Consumers in U.S. seek convenient purchasing options and organic food, which is now easily available, is gaining popularity. These food products are available in more than 20,000 natural food stores and conventional grocery stores across the country.
Over the past decade, organic food has witnessed significant growth. Sold…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
