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High Adaptability and Accuracy of Molecular Testing Methods to Drive Global Molecular Diagnostics Market

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Published on : Jul 21, 2016

ALBANY, New York, July 21, 2016: ResearchMoz.us has recently announced the addition of the “Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Growth Trends & Forecast to 2021,” report to its offerings. The report offers key insights about molecular diagnostics along with a detailed analysis of the factors affecting the growth of this market. Qualitative and quantitative insights on this market have also been presented through this research report. The major companies dealing in this vertical, coupled with their major contributions in this market, have also been mentioned in the study. Furthermore, an elaborate study on the chief opportunities, trends, and risk factors in the molecular diagnostics market forms an integral part of the report.

The dynamic and transformative behavior of molecular diagnostics has helped it in evolving as one of the largest and fastest growing segment in the IVD industry. It has led to advances in medical research and treatment of a number of diseases. The global demand for molecular diagnostics methodologies is driven by the accuracy, cost–effective testing, easy workflow, high sensitivity, and fast turnaround time offered by these testing modalities.

In the report, the market has been segmented based on criteria such as geography, application, technology, and company. According to geography-wise segmentation, the report presents an analysis of the market in North America, Europe, India, China, Brazil, Japan, Mexico, Korea, and rest of the world (ROW). North America leads the global market of molecular diagnostics and is expected to dominate with more than 40% of the market share through 2021. India, Japan, and China are expected to present considerable growth opportunities in the next six years in the market.

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On the basis of application, the segment of molecular oncology tests has been reported to grow at a rapid pace in the past few years.  This segment is expected to control 25% of the market share by 2021 in the global molecular diagnostics market. Remarkable expansion in diagnostic tests for infectious and genetic diseases is an excellent growth opportunity for the global molecular diagnostics market. In terms of technology, the segment of biochips/microarrays has reported the fastest growth pace over the report’s review period and is expected to expand favorably through 2021. The market values for Fish and Innovations and PCR-based tests are anticipated to grow with the highest CAGR in the coming years.

Roche is the leader with more than 30% of the market share and is expected to retain its leadership through the forecast period as well. Other leading vendors in the market, such as Abbott, Becton Dickinson, Genetics, Myriad, and Qiagen are anticipated to register robust market growth in the next few years.

The report consists of a comprehensive assessment of the growth drivers and restraints of the molecular diagnostics market. The accurate assessment of diseases with molecular diagnostics has encouraged their adoption across healthcare facilities, driving the growth of the global market. Moreover, the reliable and accurate detection has also made a gateway for personalized medicines, thus making molecular diagnostics more popular. But, the complex regulatory framework has introduced some major impediments in the development, which limits the growth of molecular diagnostics market.

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