The global DNA Diagnostic Market would generate $19 billion by 2020, growing at a CAGR of 9.8% from 2014 to 2020. The report offers detailed analysis of key segments, changing market dynamics, key winning strategies, competitive scenario, and regions.
The latest figures suggest that approximately 8.2 million people are living with cancer and 39 million with HIV. These numbers are set to increase consistently; however, advanced automated DNA diagnostics technologies such as next generation sequencing could play a crucial role in diagnosing and curbing these diseases. “Next generation sequencing has had a significant impact on diagnostic procedures and is set to gain momentum in the foreseeable future.
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Rise in incidence of infectious & chronic diseases, advancements in technology, and rise in popularity of personalized medicines drive the growth in the global DNA diagnostics industry. However, high costs related to research & development activities and stringent government regulations restrain the growth in the market. Innovations in product design and technology along with improvement in healthcare infrastructure would create new opportunities in the industry.
The report offers a detailed segmentation of the global DNA diagnostics market based on product type, technology, application, and geography. Product types analyzed in the research include reagents, instruments, and service & software. The instruments segment contributed for the major share in the market, owing to availability of user-friendly instruments, improved healthcare infrastructure, and competitive cost structure. However, the service & software segment would register the highest CAGR during the forecast period, owing to technological advancements and utilization of information technology solutions. Based on technology, the report bifurcates the market into PCR, sequencing technology, mass spectrometry, in-situ hybridization, and microarrays. PCR held the highest market share due to its adoption in diagnostic procedures such as separation, sample preparation, and isolation of DNA from samples.
Applications analyzed into the report include infectious diseases, oncology, and myogenic disorders. The oncology segment accounted for the highest share and will continue to dominate owing to increase in incidence of these diseases and rise in aging population. Geographically, the market is bifurcated into North America, Europe, Asia Pacific, and LAMEA. North America dominates the market owing to rise in adoption of the DNA diagnostics technology and prevalence of chronic and infectious diseases.
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Market analysis in terms of geography suggests that developed economies would retain their dominance in the market. This could be attributed to the early adoption of the technology due to potential reduction offered by DNA diagnostic to their high healthcare expenditure. However, developing economies, such as in Asia-Pacific, will significantly influence the DNA diagnostic market during the extended forecast period (2020-2025), largely due to potential growth in per capita healthcare expenditure and very large undiagnosed population.
Several companies operating in this region are seeking novel technologies to gain traction in the competitive market. Product launch is the key strategy adopted by companies operating in this market. These companies are developing novel products for the treatment of various diseases such as infectious diseases, cancer, prenatal diagnosis, pre-implantation diagnostics and myogenic disorder. Additionally, these companies are also adopting collaboration and acquisition to retain their respective positions and to gain traction in the market.
Companies analyzed in the report include Roche Diagnostics, Sysmex, Bayer Diagnostic, Gene-probe Inc., Abbott laboratories, Illumina, Inc., Cephide, Thermo Fisher Scientific, Bio-Rad Laboratories, Johnson and Johnson, and Novartis. They have adopted various strategies including partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to strengthen their position in the industry.
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