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(IT-NEWSWIRE.COM, April 02, 2018 ) Global Molecular Diagnostics Market are the tests that are carried out for the detection of sequences present in the DNA and RNA including deletions, insertions, rearrangements, single nucleotide polymorphism, and others for the diagnosis of diseases. Global Molecular Diagnostics Market cumulative techniques analyze the biological markers at a molecular level, like proteome and genome. Molecular diagnostics are commonly used in the diagnosis of cancer, infectious diseases, and others. These are also used in the genetic predisposition checking to a disease.
Increase in the prevalence of infectious diseases and various cancers, a rise in demand for personalized medicines, technological advancements in the diagnostic tests, and rise in the preference for biomarker identification tests are anticipated to fuel the molecular diagnostics market. Moreover, a rise in geriatric population, increase in healthcare expenditure, developed healthcare infrastructure, and favourable government initiatives for preventing the genetic disorders are also expected to boost the molecular diagnostics market over the forecast period. However, stringent regulatory policies, high cost for testing, issues with quality control, and lack of reimbursement policies for the diagnosis might restrain the growth of molecular diagnostics market.
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Molecular diagnostics market is segmented on the basis of product type, technology, application, and end user
Based on the product type, molecular diagnostics market is segmented into the following:
Reagents
Kits
Instruments
Software
Based on technology, molecular diagnostics market is segmented into the following:
Polymerase chain reaction
Microarray
Next generation sequencing
Isothermal nucleic acid amplification
Hybridization
Others
Based on the application, molecular diagnostics market is segmented into the following:
Caner
Blood screening
Infectious diseases
Microbiology
Genetic tests
Others
Based on the end user, molecular diagnostics market is segmented into the following:
Hospitals
Diagnostic centres
Research institutes
Others
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Molecular diagnostics market is in the developing stage owing to increase in the prevalence of cancer, infectious disease such as HIV (according to World Health Organisation, global health observatory (GHO) data, in 2013, approximately 34-38 million people suffered from HIV infection worldwide), and hepatitis among others. Rise in research activities for the prevention of genetic disorders also fuels the molecular diagnostics market. Acquisitions & mergers, collaborations, and innovation of novel diagnostic methods are some key strategies followed by companies for increasing their revenue in the molecular diagnostics market. For instance, in August 2015, Roche Diagnostics has acquired GeneWeave Biosciences, Inc. for strengthening its portfolio in microbiology diagnostics. Moreover, in April 2015, Alere Inc. received FDA approval for Alere I Strep, a molecular diagnostic test for the detection of Group A Streptococcus bacteria.
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Geographically, global molecular diagnostics market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Increase in the prevalence of various infectious diseases, rise in the government funding for the research in molecular diagnostics, wide range of applications, and availability of skilled workforce in North America anticipated to create dominant for molecular diagnostics in the region. Europe molecular diagnostics market is growing significantly owing to well-developed healthcare infrastructure, initiatves for the prevention of genetic disorders, and increase the number of biotechnological companies are driving the molecular diagnostics market. Moreover, rise in geriatric population in Japan China, and India, and increase in the prevalence of infectious diseases and cancer in Asia Pacific has created lucrative growth for molecular diagnostics market in the region.
Some of the players in molecular diagnostics market are Cepheid Inc. (Danaher Corporation) (U.S.), Biomerieux (Sofiana s.a.) (France), Beckman Coulter, Inc. (Danaher Corporation) (U.S.), Becton, Dickinson and Company (U.S.), Siemens Healthcare GmbH (Germany), Abbott Laboratories (U.S.), Grifols (Spain), Hologic, Inc. (U.S.), Qiagen (U.S.), Alere Inc. (U.S.), Roche Diagnostics (U.S.), and DiaSorin S.p.A. (American Standard Companies) (Italy) to name a few.
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