“Increase in prevalence of infectious diseases as well as cancer, rise in awareness & acceptance of personalized medicines, development in biomarker identification market, and advancement in molecular diagnostics are the major factors fueling the growth of the global molecular diagnostics market.”
The global molecular diagnostics market is estimated at $5.96 billion in 2016 and is expected to reach $10.55 Billion by 2023, garnering a CAGR of 9.1% during the forecast period. The report offers a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in prevalence of infectious diseases as well as cancer, surge in awareness & acceptance of personalized medicines, development in biomarker identification market, and advancement in molecular diagnostics drive the growth of the global molecular diagnostics market. On the other hand, stringent regulatory requirements for product approvals restrain the growth to some extent. Nevertheless, high potential and increasing adoption of molecular diagnostics in emerging nations are expected to create an array of lucrative opportunities in the industry.
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The report divides the market into product, technology, end users, application and geography. Based on product, the market is categorized into Instruments, Reagents, and Software & Services. Based on technology, the market is classified into Polymerase Chain Reactions (PCR), Hybridization, DNA Sequencing, Microarray, Isothermal Nucleic Acid Amplification Technology (INAAT), and Others (Electrophoresis, Mass spectroscopy, and Flow cytometry). Based on application, the market is segmented into Infectious Diseases, Oncology, Genetic Testing, Blood Screening, and Others (Microbiology, Neurological Diseases, and Cardiovascular Diseases). Based on end-users, the market is classified into Hospitals, Laboratories, and Others (Blood Banks, Home Health Agencies, and Nursing Homes). Based on region, the market is analyzed across North America, Mexico, Rest of Europe and LAMEA.
By end-users, the hospitals segment contributed to the major market share in 2016, and is anticipated to register a CAGR of 8.8% during the study period. By technology, the PCR segment generated the highest share of the total market in 2016 and is projected to rule the roost by 2023. By application, the infectious diseases segment held the highest market revenue in 2016 and is expected to lead the trail throughout 2017–2023. By region, North America market would showcase at a CAGR of 9.0% during the forecast period.
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Leading market players-
The key players analyzed in the report include BioMrieux SA, Dickinson and Company, Abbott Laboratories, Inc., Siemens Healthcare GmbH, Qiagen N.V., Roche Diagnostics, Cepheid (subsidiary of Danaher Corporation) (Denmark), Grifols, Becton, Hologic Corporation, and Novartis AG. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.
Scope Of The Report:
| Report Attribute | Details |
| Market size available for years | 2017-2023 |
| Base year considered | 2018 |
| Forecast period | 2018-2023 |
| Forecast units | Value (USD) |
| Segments covered | Type, Technology, Application and Region |
| Geographies covered | North America, Europe, Asia-Pacific, LAMEA |
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