According to MarketIntelReports “Global Molecular Diagnostic Market by Manufacturers, Regions, Type and Application, Forecast to 2021”:
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Molecular Diagnostics can be described as the method of analyzing the biological markers in the genome and proteome in order to identify the gene expression by applying molecular biology. It is helpful in diagnosing the diseases and risks involved. Molecular diagnostic testing also helps to decide the therapies that are suitable for individual patients. New technologies have qualified the instruments in providing the correct results. This ability in the tool resulted in the increased acceptance of molecular diagnostics. The concept of personalized medicine has also evolved from the Molecular Diagnostic Market. Clinical applications of this tool can be found in infectious diseases, oncology, pharmacogenomics, genetic disease screening, etc.
Scope & Regional Forecast of the Molecular Diagnostic Market
The Molecular Diagnostic Market is driven by factors like increase in demand for care facilities, favourable regulatory policies which aim at promoting care diagnostics, acceptance of personalized medicine, development of biomarkers, and increasing awareness of diagnostic procedures. But rising cost of molecular testing, ability of the labours to handle the complex instruments are the factors that inhibit the market. The awareness of diagnosis leads to the trend of self-care management.
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The Molecular Diagnostic Market has received a boost from the introduction to specific biomarkers for the treatment of cancer. But maximum use of reagents is estimated due to their correct results. Commonly used reagents are salts, formamide, sodium dodecyl sulphate, and dextran sulphate heparin. The awareness of prenatal genetic testing to detect chromosomal abnormalities during pregnancy has enhanced the use of clinical molecular diagnostics.
The incidences of chronic infectious diseases like tuberculosis, HIV/AIDS, diarrhea, pneumonia hepatitis, and rising number of biotechnological companies lead to the growth of molecular diagnosis and therapy. North America is estimated to hold the largest share in the Molecular Diagnostic Market. Asia Pacific is expected to be a growing region in the field of molecular lab testing. Increased adoption of advanced technologies along with rising healthcare expenditure should boost the growth of molecular genomic testing.
Prevalence of infectious diseases and adoption of innovative technologies lead to growth of molecular genetic testing. Healthcare policy makers aim to provide reimbursement of molecular diagnostic services.
Segmentations & Key Players Involved in the Molecular Diagnostic Market
The Molecular Diagnostic Market can be broken down into various segments as follows:
- Type- PCR instrument, ISH instrument, and Gene chip matching Equipment.
- Applications- Prenatal, Infectious disease, Cancer, and Others.
- Region- North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), and Latin America, Middle East and Africa.
Some of the key players involved in the Molecular Diagnostic Market are as follows:
- Thermo Fisher
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