Molecular diagnostics refers to the technique of identifying the presence of any infection or disease, gene mutations, or any type of antigens attacking the body, with the help of the genetic and protein activity patterns of the body. Primarily, the molecular diagnostic tests are performed for three purposes: diagnosis of the infectious diseases, genetic identification and the diagnosis of genetic diseases. Currently, molecular diagnostics represent a small share in the in-vitro diagnostics market, but it offers immense opportunities for growth in future and therefore, is likely to drive the in-vitro diagnostics market in the foreseeable future.
Diagnostic tests play an important role in helping the physicians in making decisions, as it has been found that around 80% of the physicians decisions are based on the diagnostic reports. With the advent of faster and more accurate molecular tests, coupled with the better sensitivity and specificity of the molecular tests, there has been a shift from the traditional testing methods towards the molecular diagnostic tests.
Presently, the molecular diagnostic market is growing on the back of oncology and the infectious disease segment, but in future, when these segments are likely to approach saturation, some of the other segments, including CT/GC, HPV, HAI and Influenza are expected to offer opportunities for growth. The US, Europe and Japan are the major markets for molecular diagnostic tests and together account for a lions share in the global market. But in the coming years, with the increasing per capita income, and rising concern regarding healthy living in the emerging countries, like India and China, such countries offer immense potential for growth.
Continuous innovation and the technological advancements are some of the factors responsible for accelerating the growth of molecular diagnostic market. However, some of the other major factors affecting the industry include the increasing incidences of cancer, the rising number of cases of hepatitis B and tuberculosis and the availability of various molecular diagnostic tests.
The molecular diagnostics market is quite consolidated with the top seven players holding major share of the market, including Roche, Novartis, Gen Probe, QIAGEN, Bayer, Abbott, and Becton Dickinson.
The current report analyzes the molecular diagnostic market on the global basis. It also presents a view of the various segments of the market. The report discusses the drivers and challenges prevailing in the molecular diagnostics industry. It presents the competitive conditions prevailing in the global molecular diagnostic market, along with the profiles of four major players in the industry, Roche, Gen-Probe, QIAGEN, and Bayer.
By combining SPSS Inc.s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.