Molecular Diagnostics Industry Analysis and Market Research Report, 2024
Posted by Marketoverview on January 31st, 2018
Increasing prevalence of infectious diseases, cancer, genetic disorders, and other contagious disease are likely to drive the molecular diagnostics industry. Hospital acquired infections and other communicable infections are expected to boost market growth in the coming eight years. Moreover prenatal genetic testing is also expected to increase the adoption of this diagnostics.
Unhealthy lifestyle can further contribute to large number of people getting afflicted with chronic ailments like cardiovascular disorders and diabetes. This with further propel market growth in the coming years. Molecular diagnostics market is divided into products, technologies, applications, test location, and regions.
On the basis of products, the market is split into instruments, reagents, and others. Reagents segment held the largest share in 2015 with revenues exceeding USD 3.5 billion. It is expected to grow at a CAGR surpasing 12%. Instruments segment is expected to show a significant growth in the coming years.
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Technologies consist of polymerase chain reaction (PCR), in-situ hybridization, chips and microarrays, mass spectrometery, DNA sequencing, transportation mediated amplification, and others. PCR held the largest market share of over USD 2.5 billion in 2015. Growth of this segment can be attributed to its high incorporation among the researchers and healthcare professionals. DNA sequencing is likely to show a growth of about 16% CAGR in the coming years.
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