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Automated Molecular Assay Market to Witness a Pronounce Growth by 2025

03-01-2018 12:09 PM CET | Health & Medicine

Press release from: Transparency Market Research

Automated Molecular Assay Market to Witness a Pronounce Growth

Innovations in molecular diagnostics leading to automation of instruments are resulting in expanded applications of molecular assay beyond just identification purposes. The automated molecular assays having reduced handling errors and enhanced limits of detection and quantitation are leading to the usage of molecular assays in therapeutic monitoring and drug prescription selection with an objective of avoiding toxicity and other side effects. The shift in paradigm of clinical laboratory testing and medicine have led to improved pharmacogenomics and patient stratification. Innovations in the novel detection of pathogens and microRNAs are contributing to the continued expansion of the market by changing the landscape of personalized care. Advancements in automated molecular assays are resulting in the elimination of discriminatory testing necessities for patients.

Modernized assays with improved efficacy are increasingly adopted all over the world, as these assays offer certain advantages such as data reliability, increased speed, ability of performing multiple assays at a time, which is resulting in reduced cost and high level of precision. Modification in the assays by medical laboratories for identification of rare diseases, innovations in the next generation molecular assays having cutting-edge technologies such as single molecule counting, improved automation in the molecular assays targeting drug efficacy issues such as antibiotic resistance detection, etc., are driving the global Automated Molecular Assay Market. However, issues related to the manufacturing stability of assays and detection of degenerated proteins are resulting in reduced clinical utility of automated molecular assay, which in turn are restraining the market.

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The global automated molecular assay market can be segmented in terms of technique, testing type, application, end-user, and region. Based on technique, the market can be segmented into polymerase chain reaction (PCR), Enzyme-Linked Immuno-Sorbent Assay (ELISA), microarrays, lab-on-chip assays, gene expression profiling assays, and other biochemical assays. In terms of testing type, the market can be segmented into blood screening, virus screening, genetic material testing, oncological testing, and STD testing. The virus screening segment can be further sub-segmented into HPV testing, HIV testing, influenza testing, HCV testing, and others. Based on application, the market can be segmented into infection detection, blood donor screening, genomic profiling, molecular biomarker analysis, and others. In terms of end-user, the market can be segmented into hospitals, academic and research institutes, biopharmaceutical companies, and others.

Based on region, the Automated Molecular Assay market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global market during the forecast period due to strong distribution networks of major market players, advances in molecular diagnostics leading to early detection of metabolites, proteins, DNA or RNA, and availability of skilled workforce to handle the instrumentation of automated assay. Asia Pacific is likely to witness an exponential growth during the forecast period, due to improvements in healthcare infrastructure, increasing number of regional manufacturers offering affordable yet technologically advanced products, and rising investments in research and development for innovations in the screening methodologies.

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Development of proper reimbursement policies serve as a major opportunity for the global market. Multiple pathogen detection assays through advancements in the in-vitro detection techniques including genomics and proteomics are a growing trend in the global automated molecular assay market. Innovations in automated molecular assays include the ability to detect new variants of viruses, modifications in the genome of pathogens, and others. New product launches in the global market are primarily focused on detection of novel oncologic biomarkers, so as to allow the early detection of cancer.

Key players operating in the global automated molecular assay market include F. Hoffmann-La Roche Ltd, Luminex Corporation, Molecular Devices, LLC, Becton, Dickinson and Company, Siemens Healthcare GmbH, Tecan Trading AG, Agilent Technologies Inc., Thermo Fisher Scientific Inc., Invivoscribe, and Myriad Genetics, Inc. among others.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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