Molecular diagnosis is a process of identifying a disease by studying molecules, such as proteins, DNA, and RNA, in a tissue or fluid. Molecular diagnostic tests are used to detect specific sequences in DNA or RNA including single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others. These are cumulative techniques for analyzing biological markers at the molecular level, such as genome and proteome. This technique is used for the diagnosis of various infectious diseases, cancer, and other genetic disorders.
The global molecular diagnostics market was valued at $5,962 million in 2016, and is estimated to garner $10,557 million by 2023, registering a CAGR of 9.1% during the forecast period of 2017‐2023. The major factors enhancing the growth of this market include growth in number of patients suffering from infectious diseases and cancer; increase in awareness and acceptance for personalized medicine; advancement in molecular diagnostics; and rise in the biomarker identification market. However, stringent regulatory requirements for the product approval restrains the market growth.
The global molecular diagnostics market is segmented by type, technology, application, end user, and geography. Based on type, it is classified into instruments, reagents, and software & services. Based on technology, it is categorized into polymerase chain reaction (PCR), hybridization, DNA sequencing, microarray, isothermal nucleic acid amplification technology(INAAT), and others (electrophoresis, mass spectroscopy, and flow cytometry). Based on application, it is divided into infectious diseases, oncology, genetic testing, blood screening, and others (microbiology, neurological diseases, and cardiovascular diseases).
Based on end user, it is classified into hospitals, laboratories, and others (blood banks, home health agencies, and nursing homes). Geographically, it is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. The North America market accounted for significant share in the global market in 2016, owing to higher adoption rate for personalized medicine and increase in demand for technologically advanced molecular diagnostics for treating the patients suffering from different infectious diseases and cancer.
KEY BENEFITS FOR STAKEHOLDERS
Molecular Diagnostics Market Key Segments:
BY END USER
LIST OF KEY PLAYERS PROFILED IN THE REPORT
LIST OF OTHER PLAYERS IN THE VALUE CHAIN
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