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The global Molecular Diagnostics Market Size is expected to attain a market size of $11.2 billion by 2022, rising at a CAGR of 8.6% during the forecast period.
Molecular Diagnostics is used to identify or monitor biomarkers associated with any particular diseases or conditions. This test could also help in detecting and quantifying the presence of specific bacteria and viruses. These devices help surgeons in deciding that which therapy would work best on different patients. Molecular Diagnostics detect the diseases by analyzing RNA (Ribonucleic Acid) or DNA (Deoxyribonucleic Acid) in humans. These diagnostics are mainly used for clinical testing devices that are supplied in clinics, hospitals, laboratories, and research institutes. The key driving factors for molecular diagnostics market are high prevalence of infectious diseases and adoption of personalized medicines & companion diagnostics. Additionally, advanced diagnostics technologies and increase in the number of cancer diagnostics are some of the other factors leading the market growth. However, high cost of molecular equipment and delay in the approval of new molecular diagnostics tests could restraint growth of molecular diagnostic market. The Molecular Diagnostics Market Size is segmented on the basis of Product & Services, Technology, Application, End-user and Region.
Based on Product & Services, the Molecular Diagnostics Market Size is segmented into instruments, reagents & Kits, and software & services. Reagents & Kits is expected to gather largest share in the market due to rising demand of reagents in clinical centers and diagnostics centers. Based on Technology, market is segmented into Polymerase Chain Reaction (PCR), Microarray, Isothermal Nucleic Acid Amplification Technology (INAAT), Hybridization, Microarray, DNA Sequencing and Next-Generation Sequencing. Based on Application, the market is segmented into six types such as Infectious diseases molecular testing, Molecular oncology testing, Inherited diseases molecular testing, Identity testing, Tissue type testing and Pharmacogenetics testing. Infectious Diseases includes Chlamydia Trachomatis and Neisseria Gonorrhoeae (CT/NG), Human Papillomavirus (HPV), Human Immunodeficiency Virus (HIV), Tuberculosis (TB), Hepatitis B, Hepatitis C, Tuberculosis (TB), Methicillin-Resistant Staphylococcus Aureus (MRSA) and other infectious diseases. On the other hand, oncology is further divided into Breast Cancer, Prostate Cancer, Colorectal Cancer and others. The infectious diseases molecular testing is mostly preferred in the hospitals and clinical centers. Based on End-User, the market is segmented into i clinics, hospitals, laboratories, and research institutes. Based on Region, market is segmented into North America, Europe, Asia- Pacific and LAMEA (Latin America, Middle East and Africa). North America is expected to dominate the market growth owing to the increase in the number of infectious diseases. Unhealthy lifestyle and infectious diseases is becoming the major concern worldwide. According to the data estimated by Centers for Diseases Control and Prevention (CDC), number of deaths due to cancer estimated was 591,699 and Chronic lower respiratory diseases was 147,101. Additionally, According to the statistics in 2016, approximately 5.1 million people are living with HIV in Asian region. In 2015, there were an estimated 300,000 new infections in the Asia- Pacific. Hence, it could be expected that Asia Pacific and other regions would be contributing in the growth of molecular diagnostics market.
The Molecular Diagnostics Market analysis report covers the analysis of key stake holders of the Molecular Diagnostics market. Key companies profiled in the report include Abbott Laboratories, Qiagen N.V, Roche Diagnostics, Grifols, Siemens Healthcare (Siemens AG), Becton Dickinson and Company and Danaher Corporation.