Molecular Diagnostics Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

The molecular diagnostic is a method which is used to identify and examine nucleic acids or proteins at a molecular level. This method is used to evaluate the genetic makeup to an individual to identify predisposition to a particular disease to condition and detect it. This method is mainly used to diagnose disease and risk occurred.  It also mainly used to decide the therapies which are suitable for the individual patients.

Molecular Diagnostics Market Report coverage

Molecular Diagnostics Market Dynamics

Growing prevalence of infectious diseases & cancers, rising awareness and acceptance of personalized medicines, increase in the biomarker identification, and improvement in molecular diagnostics are some of the major factors driving the growth of the market. Additionally, technological advancement in molecular diagnostics is also responsible to drive the market, as they provide greater accuracy, portability, and cost effectiveness. Moreover, rise in funding by governments and various organizations in the clinical studies in the molecular diagnosis space is expected to propel the growth of the market. Increasing geriatric population is also one of the major factor boosting the growth of the market.

However, stringent regulatory necessities for the approval of recent molecular diagnostics methods are some of the restraining factors hampering the growth of the market. Additionally, the market consists of several opportunities such as rising adoption of the molecular diagnostics in the developing economies.

Molecular Diagnostics Market Classification and Overview

The global molecular diagnostics market is segmented into product, technology, application, end-user, and region.

On the basis of product, the market is segmented into instruments, reagents, software & services.

On the basis of technology, the market is segmented into polymerase chain reactions (pcr), hybridization, DNA sequencing, microarray, and others.

Based on the application, the market is segmented into infectious diseases, oncology, genetic testing, blood screening, and others

On the basis of end-user, the market is segmented into hospitals, laboratories, and others.

Molecular Diagnostics Market Regional Overview

Geographically, the global molecular diagnostics market is bifurcated into four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA).

North America is expected to be the largest region during the forecast period 2018-2026 owing to the presence of well-established diagnostic infrastructure and technological improvements in the field of molecular diagnostics.

Asia Pacific is expected to drive significantly during the forecasted period owing to the presence of large targeted population and high unmet clinical needs. Moreover, the increasing government initiatives in the countries such as India and China, to develop health infrastructure us likely to propel the growth of the market in this region.

Europe is expected to hold the major share during the forecast period 2018-2026 owing to the rising incidences of lifestyles and infectious diseases attached with favorable demographic trend such as geriatric population. Growing awareness regarding the advantages of early diagnostics is further likely to propel the growth of the market in this region.

LAMEA is expected to witness a steady growth during the forecasted period due to the lack of knowledge and poor infrastructure development.

Molecular Diagnostics Market Participants

The molecular diagnostics market comprises of some of the major players such as

• Abbott Molecular Cepheid
• BioMerieux’s
• Roche diagnostics
• Danaher Corporation
• Siemens Healthcare
• Qiagen Gaithersburg
• Johnson and Johnson
• Agilent (Dako)
• GenMark diagnostics
• Analytik Jena and Alere Inc.

For instance, in November 2017, Hummingbird Diagnostics GmbH and Saarland University collaborated in early disease detection based on molecular markers.

Molecular Diagnostics Market Segmentation

Molecular Diagnostics Market By Product

•  Instruments
• Reagents
• Software & Services

Molecular Diagnostics Market By Technology

• Polymerase Chain Reactions (PCR)
• Hybridization
• DNA Sequencing
• Microarray
• Others

Molecular Diagnostics Market By Application

•  Infectious Diseases
• Oncology
• Genetic Testing
• Blood Screening
• Others

Molecular Diagnostics Market By End-User

• Hospital
• Laboratories
• Others

Molecular Diagnostics Market By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA