The DNA probe-based diagnostic market projected to reach more than US$ 12.5 Bn at the end of year 2025
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional DNA Probe-based Diagnostic Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global DNA probe-based diagnostic market, By Product (DNA Probes-Based, Products Direct Detection of Target Sequence, Nucleic Acid Amplification, Gene Detection Using DNA Chips, Gene Detection by DNA Sequencing), By End-User (Infectious disease testing, Cancer testing), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In 2019, the global arbovirus testing market is accounted for more than US$ XX Bn and expected to grow at a significant CAGR of 5.4% during the forecast period and expected to reach to the value of more than US$ 12.5 Bn in 2025.
As per the report, the rising public awareness of these DNA probe-based diagnostic techniques across the world is majorly driving the growth of the global DNA probe-based diagnostic market.
The disease or hereditary trait can occur due to the irregularity of genes, a human genome is accounted to contain 100,000 approximately. A single standard stranded sequence of DNA/RNA is known as a probe, which is mainly used to search for its complementary sequence in the sample genome. Chemical structure of DNA is mainly associated with the DNA probes-based technology by eliminating the presence of anomalous gene sequences on the DNA strand.
Moreover, technology like DNA probe-based are considerably applied in diagnostics and presently its getting popularity in various other fields such as molecular biology, biological sample preparation, data handling etc. Owing to which, the global DNA probe-based diagnostic market is projected to witness significant growth in the near future.
The DNA probe-based technology profoundly promotes its utility in prenatal diagnosis and carrier detection, hence the DNA probe-based diagnostic market is expected to grow positively during the forthcoming future.
Additionally, in the past few years, the DNA probe-based technology is rising its prominence in diagnosing infectious diseases including vaginitis, which is also acting as a major driver and propelling the growth of the global DNA probe-based diagnostics market.
Moreover, over the past decade, the investments in pharmaceuticals and pharmacogenomics research and development have increased substantially, which correspondingly also opened the way for further advancements in DNA array technologies, leading to the initiation of advanced equipment assisting the progress of execution of tests with accuracy, higher speed, and reliability and is, therefore, influencing the growth of the global DNA probe-based diagnostic market undeniably.
Another major factor acting as a positive aspect in augmenting the growth of the global DNA probe-based diagnostic market is the advent of novel methods for high-volume testing.
Furthermore, some other factors like growth in geriatric population and rising disposable income among the population across the globe are also fueling the DNA probe-based diagnostic market.
However, factors like recombination between the marker and disease alleles, genetic heterogeneity, and incorrect pedigree data or non-paternity leading to erroneous diagnosis are likely to restrain the growth of the global DNA probe-based diagnostic market.
MMC Study identifies some of the key participating players in the global DNA probe-based diagnostic market globally are Abbott Laboratories, F. Hoffmann La Roche, GE Healthcare, Thermo Fisher Scientific, BD, Biogenex, bioMerieux, Biolegio, Luminex, and MP Biomedicals, among others.
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