Molecular Diagnostics Market Overview
An overview of conceptual frameworks, analytical approaches of the Molecular Diagnostics market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Molecular Diagnostics market is expected to grow at a significant rate in the near future.
The global Molecular Diagnostics market is estimated to reach at a value of US$ 9.8 Bn by the end of 2020 and expected to reach at a value of US$ xx Bn by 2028 with a significant CAGR of 8.7%
Molecular Diagnostics Market Definition
Molecular diagnostics, also commonly known as molecular pathology, can be comprehended as a medical procedure that comprises taking samples of DNA or RNA from an individual’s body, which is a exclusive genetic code found in human cells, and examining the patterns for danger signs that can identify and diagnose the probable emergence of a specific ailment. The molecular diagnostic tests are usually performed to figure out whether or not patients have a gene mutation related with a specific ailment, either as an hereditary or a captured mutation. The test can also be performed to determine a common inherited hereditary cancer. Hereditary disorders can be determined at the newborn, prenatal, and adult stages of life.
In addition, the molecular diagnostics test is also performed when there is a need to determine whether a patient has become immune or resistant to a specific drug and needs to change or replace course in a clinical regime. For instance, an HIV patient can be observed by a quantitative molecular test to identify whether or not the viral load of the specific disease has considerably surged, which is an indication of resistance to the medical treatment. The patient’s HIV can further be DNA sequenced to identify if the mutation which is considered to be related with resistance is found.
Molecular Diagnostics Market Dynamics
There are abundant strong driving factors owing to which the global molecular diagnostics market is projected to witness significant growth in the coming years. One of the key factors that is majorly boosting the growth of the global molecular diagnostics industry is the invariably increasing incidence of infectious diseases, including HPV, influenza, HIV, hepatitis, and tuberculosis as well as different types of cancers among the population across the world.
Conventionally, the antimicrobial therapeutics is adopted for treating infectious diseases, however, the molecular diagnostics are strongly replacing convention methods due to the fact that conventional methods are not competent enough to combat the emergence of drug-resistant pathogens and viruses. Such factors are also strongly strengthening the growth of the global molecular diagnostics market.
In addition, there have been numerous technological advances in the area of molecular diagnostics which further escalates its potential and makes it competent enough to diagnose, prevent, and treat various chronic disorders and diseases effectively, which positively fuels the growth of the global molecular diagnostics market in the forthcoming years.
Moreover, the rising prevalence of cancer, globally, is also expected to give a positive push to the growth of the global molecular diagnostics market in the years to come. However, the legal and regulatory requirements for the molecular diagnostics are becoming stringent day after day, which is likely to act as a restraining factor for the growth of the global molecular diagnostics market over the forecast period. Furthermore, the high cost of disease diagnostics is also anticipated to hold the growth of the global market molecular diagnostics to the bounds.
Nevertheless, the rising trend of Point of Care diagnostics in the global market is estimated to accelerate the growth of the global molecular diagnostics market in the near future. In addition to that, there is a soaring number of R&D initiatives in developing economies, at present, which further positively fuels the growth of the global molecular diagnostics market.
Molecular Diagnostics Market Segmentation
The global molecular diagnostics market is segmented on the basis of product & services, technology, application, end-users and region. On the basis of the product & services, the molecular diagnostics market is segmented into Reagents & Kits, instruments, and software & services. On the basis of technology, the market is divided into Polymerase Chain Reaction (PCR), Isothermal Nucleic Acid Amplification Technology (INAAT), DNA Sequencing and NGS, DNA Microarrays, In Situ Hybridization, and Other Technologies. On the basis of application, the market is segmented into Infectious Disease, Oncology, Genetic Tests, and Other Applications. Further, the market is segmented on the basis of end-users into Hospital and Academic Laboratories, Reference Laboratories, and Other End-Users.
The research report classifies the global molecular diagnostics market based on Product & Service, Technology, Application, End-User and regions.
By Product & Service
Reagents & Kits
Software and Service
Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology (INAAT)
DNA Sequencing and NGS
In Situ Hybridization
Hospital and Academic Laboratories
Molecular Diagnostics Market Key Players
The global molecular diagnostics market is dominated by Abbott Laboratories, Becton, Dickinson, and Company & Biomérieux Sa & Danaher Corporation, QIAGEN N.V. & among others.
MMC Overview on Molecular Diagnostics Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the molecular diagnostics market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market. The report is titled ‘Molecular Diagnostics Market: Opportunity Analysis and Future Assessment 2020-2028’.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of Molecular Diagnostics
Advantages of Molecular Diagnostics
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market