Molecular Diagnostics Market Estimated for a Sharp Growth at ~9.6% of CAGR By 2023
The Worldwide Molecular Diagnostics Market research report is growing with the rapid pace; mainly due the burgeoning Healthcare Sector. According to a recent study report published by the Market Research Future, The World Molecular Diagnostics Industry Research report is booming and expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a huge growth by 2023, surpassing its previous growth records in terms of value & volume. Considering all these factors The World Molecular Diagnostics Market research report is expected to grow at a CAGR of 9.6% during forecasted period 2017-2023.
Market Research Future published new report, titled “Molecular Diagnostics Market -Research Report: Global Forecast till 2023”.
The Worldwide Molecular Diagnostics Market report explores the Top Key Players in-depth analysis as: Hoffmann-La Roche Ltd. (U.S.), QIAGEN N.V. (the Netherlands), Hologic, Inc. (U.S.), Grifols (Spain), Abbott (U.S.), Siemens Healthcare GmbH (Germany), Bio-Rad Laboratories, Inc. (US), BD (U.S.), Beckman Coulter Inc. (U.S.), bioMérieux SA (France), and Cepheid (U.S.).
Market Synopsis of Global Molecular Diagnostics Market:
Molecular diagnostics is an integral part of in-vitro diagnostics, the collection of techniques used to analyse biomarkers in genomics and proteomics. Molecular diagnostics plays a major role in early diagnosis and treatment of diseases. Molecular diagnostics is an important tool when it is necessary to diagnose and treat at molecular level.
Increasing prevalence of infectious diseases and various types of cancer, and advancement in molecular techniques are the major driving forces for the growth of the market. The PCR technology has completely transformed the growth of the market. Molecular diagnostics includes automated and easy-to-handle techniques.
According to WHO, it is the second most common type of cancer in women. Every year 200,000 new cases are diagnosed worldwide and this number is continuously increasing. Prevalence of breast cancer is more common in developed countries compare with developing countries. Moreover, adoption of unhealthy lifestyle, exposure to harmful radiation, increasing geriatric population and increasing governmental initiatives also contributed in the growth of the market.
According to American Cancer Society, (2015), there will be an estimated 1,658,370 new cancer cases diagnosed and 589,430 cancer deaths in the US
As per report from National Cancer Institute (2016), an estimated 1,685,210 new cases of cancer will be diagnosed in the United States and 595,690 people will die from the disease
However, high price of diagnostics kits may hamper growth of market during the forecast period.
Market Segments:
The global molecular diagnostics market is segmented on the basis of techniques, applications and end users.
Based on the techniques, it is segmented into PCR (Polymerase Chain Reaction) and real-time PCR, fluorescence in-situ hybridization, microarray, transcription-mediated amplification, and next-generation sequencing.
On the basis of applications, it is segmented into infectious diseases, oncology, blood screening, genetic testing, pharmacogenomics, human leukocyte antigen typing, coagulation, others.
And on the basis end users, it is segmented into hospitals, diagnostic laboratories, academics and research institutions.
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Regional Analysis:
On regional basis, the molecular diagnostics market is segmented into America, Europe, Asia Pacific and Middle East & Africa.
America dominates the global market for molecular diagnostics due to increasing demand for the advanced techniques and molecular diagnostics and higher expenditure in life science domain are the major factors for the growth of American market. Moreover, due to well-developed technology, increasing patient with bone disorders, high healthcare spending, and increasing government support for research & development. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region
Europe records the second largest market share followed by Asia Pacific. Increasing prevalence of lifestyle and chronic diseases, increasing number of private diagnostic centres are the major factors responsible for growth of the market. Lack of proper reimbursement policies in the developing countries and strict FDA regulations are the main restraints for the growth of molecular diagnostics market.
According to American Cancer Society, Asia Pacific region, contributes 44% of all cancer cases (6.4 million out of 14.1 million) and 51% of all cancer deaths (4.3 million out of 8.2 million) globally, whereas China representing the majority of the cancer burden. Incidence rates vary, being highest in the Republic of Korea (307.8 per 100,000). Furthermore, increasing demand for quality devices in the healthcare projected to lead to the use of advanced equipment, which, in turn, will increase the market growth of the molecular diagnosticsr in the region.
On the other hand, in the Middle East and Africa, blood disorders have become a huge problem due to limited screening, ignorance of diseases, and poor access to treatment
Table of Contents
Chapter 1. Report Prologue
Chapter 2. Market Introduction
Chapter 3. Research Methodology
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
Chapter 6. Global Molecular Diagnostics Market, By Type of Technique
Chapter 7. Global Molecular Diagnostics Market, By Applications
Chapter 8. Global Molecular Diagnostics Market, By End User
Chapter 9. Global Molecular Diagnostics Market, By Region
Chapter 10. Company Landscape
Chapter 11. Company Profiles
Chapter 12. MRFR Conclusion files
Chapter 13. Appendix
...CONTINUED
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Posted by
Vivian Dsena
on Friday November 17 2017, 2:00 PM EST.
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