Molecular Diagnostics Market is expected to grow at a significant rate during the forecast period 2018-2023. Molecular diagnostics involves the application of a large array of techniques right from molecular biology to conducting a various test for analyzing biological markers in the genome and proteomes. The molecular diagnostic is used to keep close track of infectious disease, it’s monitoring, risks involved and for various other purposes. The applicability of such diagnostic practice is highly in demand owing to the rising trend of personalized treatment and personalized medication. The major factor fueling the growth of the market is a rise in the prevalence of infectious diseases and also increasing cases of cancer across the globe. The demand for a cost-effective and accurate diagnostic solution is another factor propelling the growth of the market. On the contrary, the stringent laws and regulations related is the major factor restraining the growth of the market. The lack of adequate infrastructure in developing countries is one of the major hindrances in the growth of the market in emerging regions. The extended support of the government in terms of funding and technological advancement for the development of more precise and cost-effective diagnostic device will propel the market in future.
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Based on the geography, the market is divided into North America, Europe, Asia-Pacific and Rest of the World. The emerging countries such as India and China in the Asia-Pacific region is expected to grow significantly during the forecast attributed to the rapid development of the healthcare industry in such regions. North America holds the major share in the molecular diagnostics market owing to the presence of a large number of companies both in development and research of molecular diagnostic fields, the region also has the highest statistics related with cancer incidence. The European region follows North America in market share owing to the availability of well-established healthcare facility and increasing demand for personalized treatment.
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Molecular Diagnostics Market Segmentation
- Polymerase Chain Reaction (PCR)
In Situ Hybridization (ISH)
Mass Spectrometry (MS)
Next-Generation Sequencing (NGS)
Transcription Mediated Amplification
Isothermal Nucleic Acid Amplification
Diagnostic Reagents and Kits
Key Company Analysis
- Regional Analysis
Rest of Europe
Rest of Asia-Pacific
Rest of the World
Abbott Laboratories, Inc.
Agilent Technologies, Inc.
Beckman Coulter, Inc.
Becton Dickinson and Co.
Bio-Rad Laboratories, Inc.
Hoffmann-La Roche, Ltd.
Genetic Technologies, Ltd.
GenMark Diagnostics, Inc.
Genomic Health, Inc.
HTG Molecular Diagnostics, Inc.
Oxford Nanopore Technologies Ltd.
Source BioScience UK Limited
Thermo Fisher Scientific, Inc.
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