New York, NY, June 10, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Molecular Diagnostics Market by Product & Services (Reagents and Kits, Instruments, and Software and Services), by Application (Genetic Tests, Infectious Diseases, Oncology, and Others), by Technology (PCR, INAAT, DNA Sequencing & NGS, In Situ Hybridization, DNA Microarrays, and Others), and by End-User (Diagnostic Laboratories, Hospitals, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018–2025”. According to the report, the global molecular diagnostics market was approximately USD 8.02 billion in 2018 and is expected to generate around USD 14.56 billion by 2025, at a CAGR of around 8.9% between 2019 and 2025.
Molecular diagnostics includes the molecular biology techniques that are used for the detection of biomarkers present in genomes or proteomes. In molecular diagnostic techniques, molecular biology techniques are used for medical testing purpose. The growing incidence of infectious diseases and cancer is increasing the demand for molecular diagnostics techniques. The rapid advancements witnessed in the molecular biology technologies, development of molecular diagnostic technologies to automated processes, growing awareness about molecular diagnostics usage for the detection of different diseases in developing countries, and increasing government funding for research in molecular biology are driving the global molecular diagnostics market. However, the high cost of technologies and the lack of a skilled workforce to handle the instruments are hindering the global molecular diagnostics market growth.
Browse through 71 Tables & 35 Figures spread over 110 Pages and in-depth TOC on “Global Molecular Diagnostics Market Size, Share, Trends 2018: Industry Growth, Segments, Analysis and Forecast till 2025”.
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The molecular diagnostics market is fragmented into product and services, application, technology, and end-user. Based on product and services, the molecular diagnostics market includes instruments, reagents and kits, and software and services. Reagents and kits are projected to dominate the market in the future, owing to the rising use of various reagents in different therapeutic areas, easy availability of a wide range of kits and reagents, and increasing R&D activities related to molecular diagnostics.
The application segment of the molecular diagnostics market includes genetic tests, infectious diseases (HIV, hepatitis, HPV, CT/NG, influenza, TB, and others), oncology (life breast cancer, lung cancer, colorectal cancer, prostate cancer, and other cancers), and others. The infectious diseases segment dominated the global molecular diagnostics market in 2018, due to the growing prevalence of infectious diseases and raising awareness about the use of molecular diagnostic technology.
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Based on technology, the market is fragmented into DNA microarrays, DNA sequencing and NGS, polymerase chain reaction, in situ hybridization, isothermal nucleic acid amplification technology, and others. The polymerase chain reaction segment is predicted to dominate the market in the years ahead, owing to the rising use of PCR in genomics and proteomics research and rapid advancements and automation of the PCR technology.
The end-user segment comprises diagnostic laboratories, hospitals, and others. Hospitals dominated the end-user segment in 2018, owing to the increase in the number of diagnostics tests conducted in hospitals.
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By region, North America dominated the market in 2018, owing to the early introduction of highly developed equipment for research activities, the presence of highly skilled workforce, and an increase in the number of projects for the development of new molecular diagnostic technologies. Molecular diagnostic has played an important role in changing the face of diagnostics procedures for diseases and assured speedy and accurate disease detection of critically ill patients. The rise in per capita health expenditure, the presence of highly developed healthcare infrastructure, and the increase in the number of patients suffering from infectious diseases and cancer in the U.S. are driving the North American molecular diagnostics market.
Europe acquired the largest share after North America in 2018. According to the World Health Organization, in Europe, about 3.7 million new cancer cases are registered every year. The increasing prevalence of cancer and infectious diseases, growing research activities related to molecular biology techniques, rising awareness about molecular diagnostics methods, and the presence of highly equipped labs are fueling the molecular diagnostics market in Europe.
Browse the full “Molecular Diagnostics Market by Product & Services (Reagents and Kits, Instruments, and Software and Services), by Application (Genetic Tests, Infectious Diseases, Oncology, and Others), by Technology (PCR, INAAT, DNA Sequencing & NGS, In Situ Hybridization, DNA Microarrays, and Others), and by End-User (Diagnostic Laboratories, Hospitals, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/molecular-diagnostics-market
The Asia Pacific molecular diagnostics market is anticipated to show the highest year-to-year growth in the upcoming years, due to the rising investments by government and leading companies for R&D, high prevalence of infectious diseases in the developing countries of China and India, and growing awareness about molecular diagnostics usage for different disease detection. According to the National Bureau of Statistics, in 2018, about 15.23 million births were recorded in China.
The Middle Eastern and African and Latin American regions are forecasted to show sturdy market growth, owing to various developments in the healthcare infrastructure, increasing the prevalence of infectious diseases, growing investments by leading companies and government, and rising awareness about molecular diagnostics techniques.
Some major players of the global molecular diagnostics market are Becton Dickinson, Abbott Laboratories, Roche Diagnostics, Novartis, Johnson and Johnson, bioMerieux, Bio-Rad Laboratories, Qiagen NV, Siemens Healthcare, Danaher Corporation, and Hologic.
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This report segments the global molecular diagnostics market into:
Global Molecular Diagnostics Market: Product and Services Analysis
- Reagents and Kits
- Instruments
- Software and Services
Global Molecular Diagnostics Market: Application Analysis
- Genetic Tests
- Infectious Diseases
- Hepatitis
- HIV
- CT/NG
- HPV
- TB
- Influenza
- Others
- Oncology
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Other Cancers
- Others
Global Molecular Diagnostics Market: Technology Analysis
- Polymerase Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- DNA Sequencing and Next Generation Sequencing (NGS)
- In Situ Hybridization
- DNA Microarrays
- Others
Global Molecular Diagnostics Market: End-User Analysis
- Diagnostic Laboratories
- Hospitals
- Others
Global Molecular Diagnostics Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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