Automated Molecular Assay Market to Witness a Pronounce Growth by 2025
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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