The Molecular Diagnostics Market deals with the development of diagnosis techniques for detection of health condition or disease. Molecular diagnostics can be referred as detection techniques which are used to diagnose diseases and risks involved. Molecular Diagnostics helps to decide which therapy is suitable for individual patient.
This method analyzes and identifies the biological markers in the genome and proteome in order to identify gene expression by applying molecular biology. New advanced technologies are providing the diagnostic tools which are helpful to find accurate results. Hence, the adoption rate of molecular diagnostics has been increased, which acts as a key growth driver for the Molecular Diagnostics Market.
Scope & Regional Forecast of the Molecular Diagnostics Market
Increase in the prevalence of the infectious diseases and various types of cancer, rising awareness and acceptance of personalized medicines, growing biomarkers identification, and advancement in molecular diagnostics are the major key growth drivers of the Molecular Diagnostics Market. However, rising cost of molecular diagnostics and stringent regulatory requirements for the approval of new molecular diagnostics techniques act as the major key restrains for the growth of the market.
North America is dominating the Molecular Diagnostics Market due to technological advancements and innovations, increase in R&D investments by large pharmaceutical and biotechnological industries and rising demand for molecular diagnosis for cancer. Asia-Pacific is leading with the second position followed by Europe. Also, Asia-Pacific is expected to increase its growth rate due to increase in the prevalence of diseases such as cardiovascular diseases, infectious diseases and large population suffering from diabetes.
Segmentations & Key Players Involved in the Molecular Diagnostics Market
According to IndustryARC findings, the Molecular Diagnostics Market can be broken down into various segmentations on the basis of –
Products: Analyzers and Reagents.
Technology: PCR, INAAT, Hybridization, DNA Sequencing and Next Generation Sequencing, Microarray, Spectral Karyotype Imaging (SKI) and Others.
End Users: Hospitals, Clinical Laboratories and Academics.
Applications: Infectious Disease, Oncology, Genetic Disease Screening, Blood Screening, Microbiology and Others.
Region: Americas, Europe, APAC and Rest of the World.
Some of the key players involved in the Molecular Diagnostics Market according to IndustryARC are as follows:
Abbott Diagnostics, Inc.
Becton, Dickinson & Co.
Siemens Healthcare
Quest Diagnostics, Inc.
Bayer Healthcare AG