16 October 2019
Visiongain has launched a new pharma report ‘’Molecular Diagnostics Market Report 2020-2030’’ by Products and Services (Instruments, Reagents & Kits, Software and Services), Technology (DNA Microarray, In Situ Hybridization, Isothermal Nucleic Acid Amplification Technology (INAAT), DNA Sequencing & Next-Generation Sequencing (NGS), Other Technologies), Application (Genetic Tests, Infectious Diseases, Oncology, Other Applications), End User (Hospitals & Academics, Research Laboratories, Other End Users), and Geography.
The global molecular diagnostics market is anticipated to grow at a lucrative CAGR of 9.4% and anticipated to surpass USD 21 Billion by 2030.
The global molecular diagnostics market is anticipated to grow on account of the growing geriatric population, growing demand for patient-centric healthcare, and increasing awareness about the usage of molecular diagnostics. Also, it is expected that the market will be driven by increasing investment in R&D activities to improve molecular diagnostic kits and their accuracy.
It is anticipated that technological advancement in molecular diagnostics will further drive the market considerably as they allow for higher precision, portability, and cost-effectiveness. The introduction of MinION, a mobile and affordable DNA sequencer for users in point-of-care facilities by Nanopore Technologies, is anticipated to increase the market growth.
North America holds majority of market share followed by Europe and will continue to dominate in the future as a result of high prevalence/incidence of infectious diseases and cancers, presence of a highly developed healthcare system, easy accessibility to technologically advanced instruments, large number of clinical laboratories, growing government expenditure on healthcare, and growing applications of molecular diagnostics in genetic disorders and cancer screening.
Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to the presence of large patient pool and high unmet healthcare facility needs. Rising government initiatives in economies, such as India, China, and Japan to improve the healthcare infrastructure are expected to fuel the molecular diagnostics market growth.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global molecular diagnostics market. Companies are also increasing their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the market.
The comprehensive market report features companies such as Abbott, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Cepheid, Dako, Danaher Corporation, Hologic, Inc., F. Hoffmann-La Roche Ltd., Illumina, Inc., Johnson & Johnson Services, Inc., Novartis (Grifols), QIAGEN N.V., Sysmex Corporation, Siemens AG, and Thermo Fisher Scientific Inc. among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020–2030 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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