- Molecular diagnosis facilitates the premature detection of cancer, hereditary disorders and communicable diseases by making use of genetic technologies. It also finds use in the identification of anomalies in the pre-natal phase. Devices used for molecular diagnosis are referred to as molecular diagnostics.
The worldwide molecular diagnostics market is estimated to attain around USD 7, 957 million with regard to income in 2018. It is likely to grow at about 9.7 percent CAGR through the forecast phase. The key driving factors of the market include augmented infectious illnesses, cancer incidences and hereditary disorders. Rising technological innovations, like equipment transportability are also predicted to drive the income of the molecular diagnostics market.
For Market Research Report on “Molecular Diagnostics Market” Visit -http://www.grandviewresearch.com/industry-analysis/molecular-diagnostics-market
Heightening blood screening procedures around the globe are likely to steer the sales of the market. The various factors slowing down the progress of the molecular diagnostics market include financial recession and unsteady reimbursement policies in emergent regions. Amplified chronic illnesses and fast expanding old population also contribute revenue to the market. The development of CLIA waved tests concerning molecular diagnostics and innovative technologies of cancer diagnosis are the two other significant propellers of the molecular diagnostics market.
Greater demand for hereditary testing and rising poor lifestyles are also projected to steer the revenue of the market. The molecular diagnostics market is segmented into five categories. These are technologies, products, consumers, applications and regions.
The different molecular diagnostics market technologies include in situ hybridization, PCR, microarrays and chips, sequencing, mass spectrometry, and others. PCR leaded the market with respect to income in 2013. This sector was reported to have collected about USD 2, 144 million in 2013. PCR includes the intensification of target DNA sequences and hence, finds expansive applications in genetic testing.
The various products under the molecular diagnostics market are reagents, devices and others. The sector of reagents leaded the market with respect to income in 2013. It was said to have attained about USD 2, 445 million. Reagents are likely to grow at the most rapid pace of around 10 percent in the coming years. This is in view of the accentuating demand for innovative cancer diagnostic tests and hereditary testing in nations with huge unmet healthcare demands.
Point of care, hospitals and clinics and self testing are the three vital consumer segments of the molecular diagnostics market. Hospitals and clinics leaded the market with regard to income in 2013. The point of care segment is estimated to rise at the fastest pace during 2014 to 2020.
Pharmacogenomics, oncology, genetic testing, neurological diseases, cardiovascular diseases, infectious disease testing and others are the various application sectors of the market. Oncology leaded the molecular diagnostics market in terms of income in 2013. Pharmacogenomics followed oncology with regard to revenue in 2013. Boosting demand for molecular diagnostics across these applications is likely to drive the growth of the market.
North America leaded the molecular diagnostics market in 2013. Europe chased North America. The Asian Pacific molecular diagnostics market is set to display the highest expansion during the coming years.
Information Source: Grand View Research
To request a sample copy of this report, please complete the form below.
To purchase a copy of this report, please contact at
28 2nd Street, Suite 3036
San Francisco, CA 94105
Toll Free: 1-888-202-9519