Global molecular diagnostics market is expected to reach over USD 17.9
billion by 2024, based on a new report by Grand View Research, Inc. Increasing
prevalence of infectious diseases including human papillomavirus and influenza
is expected to be the primary driving force for the growth of the molecular
diagnostics market. In the underdeveloped regions of Africa and Nigeria, other
infections, such as HIV and tuberculosis, are soaring at a high growth rate
since the last few years. This is estimated to increase the demand for early
and accurate diagnostic techniques to curb their growth rate.
Prenatal genetic testing, performed for the purpose of early detection of
abnormalities that develop in the fetuses of carrier parents, is also expected
to widen the client base for the molecular diagnostics market. Moreover, the
high adoption of unhealthy lifestyles further resulting in a large patient
count afflicted with chronic diseases, such as diabetes and cardiovascular
disorders, is also projected to positively impact the growth.
In depth research report on Molecular
Diagnostics Market
Further key findings from the study suggest:
·
The overall
market is dominated by reagents with revenue generation of over USD 2.3 billion
in 2015 owing to their elevated usage rates. Reagents are key products used in
academic and research institutes to perform various molecular biology protocols
further contributing toward the dominance of this segment.
·
Instruments,
such as PCR and next generation sequencing platforms, are being widely
preferred by central laboratories and diagnostic institutes due to the rapid
nature of these tests in delivering quick & reliable results and the high
volume of diagnostic procedures in this segment. Thus, this segment is expected
to maintain a constant growth at a CAGR of around 9.0%.
·
Central
laboratories led the global molecular diagnostics market by test location with
revenue generation of around USD 4.0 billion in 2015 owing to their established
base in the remote and developing regions
·
On the other
hand, the point of care devices segment witnessed the fastest growth with a
CAGR of over 14.0%. The associated advantages include the user-friendly nature
of these tests and quick healthcare delivery, which are estimated to propel the
molecular diagnostics market.
·
Infectious
diseases held the largest share of over USD 2.9 billion in 2015. Molecular
testing tools provide clinicians with better alternatives to detect countless
infectious bacteria, virus, and pathogens in short time while delivering highly
accurate results. Initiatives led by organizations, such as the WHO, in
conducting diagnostic programs in regions with high risk areas is estimated to
be a high rendering driver.
·
The oncology
segment is expected to exhibit a CAGR of around 13.0% over the forecast period.
Rising awareness levels among people as well as healthcare professionals for
cancer diagnosis is a key attribute propelling the market growth.
·
The PCR
segment dominated the market with revenue generation of over USD 2.6 billion in
2015, attributable to the growing applications of multiplex PCR over the
conventional PCR procedure and the introduction of easy-to-use PCR handling
kits.
·
North America
was observed to be the largest regional segment in 2015 with a share of over
45.0%. Key factors contributing toward the large share are well-established
healthcare infrastructure, rising healthcare spending, increasing awareness
levels among patients, and expansion of R&D activities related to drug
discovery and development.
·
Asia Pacific
is identified as a lucrative segment with a CAGR of approximately 17.0% over
the forecast period. Rising demand for improved diagnostic technologies
employed for the prevention of epidemics, unaddressed clinical needs, and
recent activities by key players targeting expansion in this region are the
major factors supporting the market growth.
·
Some of the
major players include Novartis AG (Grifols), Siemens Healthcare GmbH, Bio-Rad
Laboratories, Inc., Alere, Inc., Danaher Corporation, bioMérieux SA, Sysmex
Corporation, Becton, Dickinson and Company, Johnson & Johnson Services,
Inc., Bio-Rad Laboratories, Inc., Bayer AG, Qiagen, Hologic, Inc. (Gen Probe),
Cepheid, F. Hoffmann-La Roche Ltd, and Dako
·
The key
players are advancing strategic collaborations with major technology-based
companies & diagnostic centers and expanding into the developing regions in
an attempt to increase their market share and attain stability
Grand View Research has segmented the global molecular diagnostics market
on the basis of product, technology, applications, test location, and region:
Global Molecular Diagnostics Product Outlook
(Revenue, USD Million, 2013 - 2024)
·
Instruments
·
Reagents
·
Others
Global Molecular Diagnostics Technology
Outlook (Revenue, USD Million, 2013 - 2024)
·
PCR
o
Multiplex
o
Others
·
In-situ
Hybridization
·
Chips and
microarrays
·
Mass
spectrometry
·
Sequencing
·
Transcription
mediated amplification
·
Others
Global Molecular Diagnostics Application
Outlook (Revenue, USD Million, 2013 - 2024)
·
Oncology
o
Breast cancer
o
Prostate
cancer
o
Colorectal
cancer
o
Cervical
cancer
o
Kidney cancer
o
Liver cancer
o
Blood cancer
o
Lung cancer
o
Others
·
Pharmacogenomics
·
Infectious
Diseases
o
Methicillin-resistant
Staphylococcus Aureus (MRSA)
o
Clostridium
difficile
o
Vancomycin-resistant
enterococci
o
Carbapenem-resistant
bacteria testing
o
Flu
o
Respiratory
syncytial virus (RSV)
o
Candida
o
Tuberculosis
and drug-resistant TB
o
Meningitis
o
Gastrointestinal
panel testing
o
Chlamydia
o
Gonorrhea
o
HIV
o
Hepatitis C
o
Hepatitis B
o
Other
Infectious Diseases
o
Genetic
Testing
o
Newborn
screening
o
Predictive and
presymptomatic testing
o
Others
·
Neurological
diseases
·
Cardiovascular
diseases
·
Others
Global Molecular Diagnostics Test Location
Outlook (Revenue, USD Million, 2012 - 2024)
·
Point of care
·
Self test or
OTC
·
Central
laboratories
Molecular Diagnostics Regional Outlook
(Revenue, USD Million, 2012 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
o
Spain
o
Italy
o
Belgium
o
Switzerland
o
Netherlands
o
Poland
o
Austria
o
Greece
o
Sweden
o
Turkey
o
Finland
·
Asia Pacific
o
Japan
o
China
o
India
o
Australia
o
New Zealand
o
Sri Lanka
o
Malaysia
o
Thailand
o
Vietnam
o
Ireland
o
Singapore
·
Latin America
o
Brazil
o
Mexico
o
Colombia
o
Chile
o
Peru
o
Argentina
·
MEA
o
South Africa
o
Saudi Arabia
o
Jordan
o
UAE
o
Qatar
o
Nigeria
o
Egypt
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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