Molecular Diagnostics Market Have Worldwide Opportunities by 2021 1 | Page 3
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Molecular Diagnostics Market Have Worldwide Opportunities by
(2015 - 2021) - PMR
In-vitro diagnostics is a method of performing a diagnostic test to detect disease, condition or infection in an
artificial environment. Molecular diagnostic is one of the major segments of in-vitro diagnostics market. Molecular
diagnostics is used to measure and detect the presence of genetic material associated with specific disease. It is
used to identify DNA and RNA at molecular level. Molecular diagnostics is a tool to improve clinical outcomes and
medical decisions. Molecular diagnostic includes all tests used to identify a disease, by analyzing molecules such
as DNA, protein or RNA in a fluid or tissue. Nowadays molecular diagnostics is used in early detection of infectious
diseases, cancer and genetic disorder, by using molecular and genetic technologies. Molecular diagnostics is also
used in detection of abnormalities in pre-natal stage. In addition, molecular diagnostic kits are used in
pharmacogenetics testing and blood donor screening.
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North America dominates the global market of molecular diagnostics due to increasing incidence of infectious
diseases and lifestyle associated diseases. In addition, innovations in molecular diagnostics for treating cancer,
government support for research and development, and high patient awareness levels are driving the growth of
molecular diagnostic market in North America. Asia is expected to show high growth rates in the next five years
in molecular diagnostics market. Some of the factors driving growth of molecular diagnostics in emerging markets
are increasing demand of genetic tests, advancement in healthcare infrastructure and large patient pool in
countries such as India and China.
In recent times there is increased use of molecular diagnostics due to increasing application in blood screening,
genetic disorders and cancer. Increasing prevalence of chronic and infectious diseases such as HIV and hepatitis,
rising awareness and acceptance of personalized medicine and companion diagnostics are also fueling growth in
the global molecular diagnostics market. However, changing reimbursement regulations and delayed approval of
many new molecular diagnostic tests are some of the factors inhibiting the growth for global molecular diagnostics
market.
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Growing demand for genetic tests is an opportunity for global molecular diagnostics market. However, strict
regulatory framework and lack of skilled labor are some of the major challenges for global molecular diagnostics
market. Some of the major companies operating in global molecular diagnostics market are Novartis AG, Roche
Diagnostics, QIAGEN, Siemens Healthcare, Abbott Laboratories, Inc., Gen-Probe, Inc. (Hologic Inc.), Cepheid,
Inc., Beckman Coulter, Inc., Becton, Dickinson & Company, Myriad Genetics, Inc., and bioMerieux.
Key points covered in the report
Report segments the market on the basis of types, application, products, technology, etc (as applicable)
The report covers geographic segmentation
Molecular Diagnostics Market, 2015 - 2021
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