Global molecular
diagnostics market is expected to reach over USD 17.9 billion by
2024, based on a new report by Grand View Research, Inc. Increasing prevalence
of infectious diseases including human papillomavirus and influenza is expected
to be the primary driving force for the growth of the molecular diagnostics
market. In the underdeveloped regions of Africa and Nigeria, other infections,
such as HIV and tuberculosis, are soaring at a high growth rate since the last
few years. This is estimated to increase the demand for early and accurate
diagnostic techniques to curb their growth rate.
Prenatal
genetic testing, performed for the purpose of early detection of abnormalities
that develop in the fetuses of carrier parents, is also expected to widen the
client base for the molecular diagnostics market. Moreover, the high adoption
of unhealthy lifestyles further resulting in a large patient count afflicted
with chronic diseases, such as diabetes and cardiovascular disorders, is also
projected to positively impact the growth.
Browse full research report on Molecular Diagnostics Market: https://www.grandviewresearch.com/industry-analysis/molecular-diagnostics-market
Further
key findings from the study suggest:
- The overall
market is dominated by reagents with revenue generation of over USD 2.3
billion in 2015 owing to their elevated usage rates. Reagents are key
products used in academic and research institutes to perform various
molecular biology protocols further contributing toward the dominance of
this segment.
- Instruments,
such as PCR and next generation sequencing platforms, are being widely
preferred by central laboratories and diagnostic institutes due to the
rapid nature of these tests in delivering quick & reliable results and
the high volume of diagnostic procedures in this segment. Thus, this
segment is expected to maintain a constant growth at a CAGR of around
9.0%.
- Central
laboratories led the global molecular diagnostics market by test location
with revenue generation of around USD 4.0 billion in 2015 owing to their
established base in the remote and developing regions
- On the other
hand, the point of care devices segment witnessed the fastest growth with
a CAGR of over 14.0%. The associated advantages include the user-friendly
nature of these tests and quick healthcare delivery, which are estimated
to propel the molecular diagnostics market.
- Infectious
diseases held the largest share of over USD 2.9 billion in 2015. Molecular
testing tools provide clinicians with better alternatives to detect
countless infectious bacteria, virus, and pathogens in short time while
delivering highly accurate results. Initiatives led by organizations, such
as the WHO, in conducting diagnostic programs in regions with high risk
areas is estimated to be a high rendering driver.
- The oncology
segment is expected to exhibit a CAGR of around 13.0% over the forecast
period. Rising awareness levels among people as well as healthcare
professionals for cancer diagnosis is a key attribute propelling the
market growth.
- The PCR
segment dominated the market with revenue generation of over USD 2.6
billion in 2015, attributable to the growing applications of multiplex PCR
over the conventional PCR procedure and the introduction of easy-to-use
PCR handling kits.
- North America
was observed to be the largest regional segment in 2015 with a share of
over 45.0%. Key factors contributing toward the large share are
well-established healthcare infrastructure, rising healthcare spending,
increasing awareness levels among patients, and expansion of R&D
activities related to drug discovery and development.
- Asia Pacific
is identified as a lucrative segment with a CAGR of approximately 17.0%
over the forecast period. Rising demand for improved diagnostic
technologies employed for the prevention of epidemics, unaddressed
clinical needs, and recent activities by key players targeting expansion
in this region are the major factors supporting the market growth.
- Some of the
major players include Novartis AG (Grifols), Siemens Healthcare GmbH,
Bio-Rad Laboratories, Inc., Alere, Inc., Danaher Corporation, bioMérieux
SA, Sysmex Corporation, Becton, Dickinson and Company, Johnson &
Johnson Services, Inc., Bio-Rad Laboratories, Inc., Bayer AG, Qiagen,
Hologic, Inc. (Gen Probe), Cepheid, F. Hoffmann-La Roche Ltd, and Dako
- The key
players are advancing strategic collaborations with major technology-based
companies & diagnostic centers and expanding into the developing
regions in an attempt to increase their market share and attain stability
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/clinical-diagnostics
Grand
View Research has segmented the global molecular diagnostics market on the
basis of product, technology, applications, test location, and region:
Global Molecular
Diagnostics Product Outlook (Revenue, USD Million, 2013 - 2024)
- Instruments
- Reagents
- Others
Global
Molecular Diagnostics Technology Outlook (Revenue, USD Million, 2013 - 2024)
- PCR
- Multiplex
- Others
- In-situ
Hybridization
- Chips and
microarrays
- Mass
spectrometry
- Sequencing
- Transcription
mediated amplification
- Others
Global
Molecular Diagnostics Application Outlook (Revenue, USD Million, 2013 - 2024)
- Oncology
- Breast
cancer
- Prostate
cancer
- Colorectal
cancer
- Cervical
cancer
- Kidney
cancer
- Liver cancer
- Blood cancer
- Lung cancer
- Others
- Pharmacogenomics
- Infectious
Diseases
- Methicillin-resistant
Staphylococcus Aureus (MRSA)
- Clostridium
difficile
- Vancomycin-resistant
enterococci
- Carbapenem-resistant
bacteria testing
- Flu
- Respiratory
syncytial virus (RSV)
- Candida
- Tuberculosis
and drug-resistant TB
- Meningitis
- Gastrointestinal
panel testing
- Chlamydia
- Gonorrhea
- HIV
- Hepatitis C
- Hepatitis B
- Other
Infectious Diseases
- Genetic
Testing
- Newborn
screening
- Predictive
and presymptomatic testing
- Others
- Neurological
diseases
- Cardiovascular
diseases
- Others
Global
Molecular Diagnostics Test Location Outlook (Revenue, USD Million, 2012 - 2024)
- Point of care
- Self test or
OTC
- Central
laboratories
Molecular
Diagnostics Regional Outlook (Revenue, USD Million, 2012 - 2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Belgium
- Switzerland
- Netherlands
- Poland
- Austria
- Greece
- Sweden
- Turkey
- Finland
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- Sri Lanka
- Malaysia
- Thailand
- Vietnam
- Ireland
- Singapore
- Latin America
- Brazil
- Mexico
- Colombia
- Chile
- Peru
- Argentina
- MEA
- South Africa
- Saudi Arabia
- Jordan
- UAE
- Qatar
- Nigeria
- Egypt
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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