Molecular diagnostics is a technique to analyse individual’s genetic code and to diagnose various diseases and monitor the risk factors associated with the diseases. Molecular diagnostics has revolutionized the field of medicine by introducing a several and improved testing methods for a wide range of diseases. The branch of molecular diagnostics that deals with the screening and detection of viral diseases and its causative agents is referred as viral molecular diagnostics. Presently, there are numerous viral diseases that are prevalent worldwide, which needs proper diagnosis for providing better treatment options to the patients. Thus viral molecular diagnostics is increasing being adopted in various healthcare service settings. Secondly the technique also has increased adaptability in the field of personalized medicine. The viral molecular diagnostics test are conducted with the help of polymerase chain reaction (PCR), nucleic acid sequence based amplification, Real time PCR (RT-PCR) and other molecular diagnostic methods.
Viral Molecular Diagnostics Market: Drivers and Restraints
The key driving factor for the growth of the viral molecular diagnostics market is the increasing prevalence of viral diseases like AIDS, Hepatitis, influenza, rising geriatric population, increasing popularity of minimally invasive procedures, changing methodologies for disease diagnosis and rising awareness about viral diseases and increasing government funding in various regions. Aged individuals have lower immunity and thus are more prone to various viral diseases. This will create more demand for the diagnostic procedures, thus, drive the growth of molecular diagnostics market. However lack of skilled professionals, high cost of molecular diagnostics and constraint operational efficiencies are some of the major factors confining the growth of the global viral molecular diagnostics market. Global Viral Molecular Diagnostic Market is segmented based on the techniques, products, end user segments and diseases.
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Viral Molecular Diagnostic is segmented into following types:
- Polymerase chain reaction (PCR)
- Nucleic Acid Sequence Based Amplification
- Real time PCR (RT-PCR)
- Other Molecular Diagnostic methods
By Product Type
- Respiratory Syncytial Virus
By End User
- Diagnostic Laboratories
- Academic Institutions
- Ambulatory clinics
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Viral Molecular Diagnostics Market: Overview
Viral Molecular Diagnostics Market is growing at a significant rate. The market would foresee a significant growth over the forecast period due to increasing investments in R&D for personalized medicine. Secondly the market is expanding globally due to rising awareness of the viral infections. Thus the market is expected to grow with a decent CAGR. Advances in biotechnology often cater to the demand for new vaccines, new drugs for various viral infections, thus ultimately fuels the growth of the viral molecular diagnostics in research and development activities market over the forecast period.
Viral Molecular Diagnostics Market: Region-wise Outlook
Geographically, North America is the largest market for the viral molecular diagnostics, due to increasing number of players within this market. The market is closely followed by the Western European market. Better infrastructure and highest awareness levels about various viral diseases among the population of the regions are the major factors responsible for their highest share. Asia-Pacific is the fastest growing market for various viral molecular diagnostic tests, due to increasing prevalence of viral infections in this market.
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Viral Molecular Diagnostics Market: Key Players
Leading players in viral molecular diagnostics market include Abbott Laboratories, Inc., Affymetrix, Inc., Auto Genomics, Inc., Becton Dickinson and Company, bioMérieux SA, F. Hoffmann-La Roche Ltd., Illumina, Inc., Meridian Bioscience, Inc., Qiagen NV, Thermo Fisher Scientific Corporation and others.