Global Molecular Diagnostics Market -Offers Growth, Outlook, Trends, Share, Size, Opportunities, Key players, Industry Analysis Forecast (2018-2024)
The Global Molecular Diagnostics market is estimated to reach USD 12.14 billion by 2024 from USD 7.34 billion in 2017 at a CAGR of 10.1%. The report provides brief information about major drives, challenges, restraints, current market trends, and strategies influencing the global market along with estimates and forecast of revenue.
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Global Molecular Diagnostic Market is predicted to hold the highest Market share in the category of Infectious diseases segment
By application, Infectious disease segment held the largest revenue share in 2017 and is predicted to follow a similar trend over the forecast period due to increasing incidence of communicable diseases in developing countries of the Asia Pacific and Latin America. The prime attributes contributing the growth of the molecular diagnostic market are excessive prevalence for infectious diseases, various types of cancer, increasing awareness and acceptance of illustrated medicine and companion diagnostics, growth in the biomarker identification market and improvements in the molecular techniques, and reforms in the reimbursement system.
On the other hand, the complex regulatory framework is a dominant factor restraining the growth of molecular diagnostics market. Improvements in the genomics and proteomics, boosting adoption of point-of-care testing, and high potential emerging markets such as China, India, South Africa, Brazil, and Mexico offer momentous growth opportunities for the vital players in the molecular diagnostics market.
Shriving home health care sector combined with technological advancements in hand-held POCT devices can drive molecular diagnostic market growth. Rising demand for price effective diseases, diagnostic tests has accelerated the rise in R&D investment for development of the molecular diagnostic platform.
Recent technological improvements in the field of Molecular Diagnostics
The Recent technology upgrades in the field of molecular diagnostics have reformed the diagnosis and treatment of diseases. Some of the technologies prompting molecular diagnostics market growth are nucleic acid amplification (NAT), a biochemical technique to detect bacteria or virus and microRNA based diagnosis.
Advances in Molecular Diagnosis focuses on the areas such as Multi-Parametric Molecular Diagnostics, Cancer Progression and Diagnostics, Genomics in Infectious Diseases, Genetic Testing, and Mass Spectrometry-Based Quantitative Metabolomics.
North America is observed to have high growth in the market for Global Molecular Diagnostics market
The largest molecular diagnostics market share is in North America followed by Europe and prevalence of infectious diseases is enhancing the market growth in North America. The growth of molecular diagnostics market in North America is achieved by few factors such as the developing applications of MDX in genetic disorders and cancer screening, availability of government funds, and use of self-monitoring techniques.
Some of the key players in the molecular diagnostics market are Roche Diagnostics (U.S.), Grifols (Spain), Abbott Laboratories (U.S.), Alere Inc. (U.S.), Cepheid Inc. (U.S.), Siemens Healthcare (Germany), General Electric Healthcare (U.S.), Becton, Dickinson and Company (U.S.), Hologic Inc.
(U.S.), Danaher Corporation (U.S.), Beckman Coulter Inc. (U.S.), Bio-Rad Laboratories Inc.
(U.S.), QIAGEN N.V. (Netherlands), and bioMerieux SA (France).
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Scope Of The Report
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin. Value
- Created and Captured – Cost of Creating that Value = Margin
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- Basis on the depth of the study we approach using analytical tools
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