MarketResearchReports.biz has announced the addition of a new report, “Global Molecular Diagnostics Market 2016-2020,” report to its database. The detailed report contains data about the current state of the global molecular diagnostics market. It studies the opportunities and the potential challenges faced by the molecular diagnostics market. The report helps readers discover trends in the molecular diagnostics market and identify the strategic consolidations shaping it. According to the report, the molecular diagnostics market is expected to expand at a 10.38% CAGR between 2016 and 2020.
Molecular diagnostics refers to the class of diagnostic tests that identify protein or nucleic acids at the molecular level. Molecular diagnostics have expanded rapidly ever since the introduction of PCR test for HIV and Chlamydia trachomatis and Neisseria gonorrhea (CT/NG). Molecular diagnostics is widely used for testing hepatitis viruses, cancer, genetic diseases, and various hospital-acquired infections.
The molecular diagnostics market is boosted by the extensive use of the technique for blood donor screening for HIV and hepatitis. The cost effectiveness of molecular diagnostics for the diagnosis of cancer is fueling the growth of the market. An increasing number of infections due to environmental pollution and the prevalence of an unhealthy lifestyle among the global population will ensure the growth of the market in the coming years. The development of molecular POCT is expected to boost the global molecular diagnostics market. Rising investments in proteomics and genomics research will further fuel the market.
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However, ethical issues associated with DTC genetic testing may curb the market’s growth. The global molecular diagnostics market also faces a threat from the availability of alternative low-cost products. Issues such as the lack of reimbursement options, quality control, and cold chain management are further expected to challenge the market. However, the growth of theranostics will help open new opportunities for the market. The development of NGS technology and DNA arrays will boost the market for molecular diagnostics. Moreover, an increase in industry partnerships will also help boost the market.
On the basis of technology, the molecular diagnostic tests is segmented into hybridization (ISH AND FISH), polymerase chain reaction, transcription mediated amplification (TMA), biochips and microfluidics, mass spectrometry, next generation sequencing, and others which includes nanotechnology and proteomics. Based on application, the global molecular diagnostics market is segmented into oncology, genomics, and infectious disease testing. Major regions covered in the report are APAC, EMEA, and the Americas.
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The report profiles leading players in the global molecular diagnostics market. Business strategies implemented by these companies, their recent developments, and financial and business overview are covered in the report. Key players studied in the report are: Abbott Laboratories, EMD Millipore, Hologic Inc., Myriad Genetics, Qiagen, Roche Diagnostics (a division of F. Hoffmann-La Roche Ltd.), Siemens Healthcare GmbH, ThermoFisher Scientific, Trivitron Healthcare, AsuraGen, Ahram Biosystem, BD, Bio-Rad, EKF Molecular Diagnostics, Ras Lifesciences, HTG Molecular, InBios International, Analytik Jena, Maxim Biomedical, Mindray, and Ortho Clinical Diagnostics.