Research report presented by UnivDatos, Emphasis on Product (Reagents, Instruments Services), Techniques (Polymerase Chain Reaction (PCR), Transcription-Mediated Amplification (TMA), In Situ Hybridization, DNA Sequencing & Next-Generation Sequencing (NGS), Chips and Microarrays, Others), Application (Microbiology, Virology, Hospital Acquired Infections (HAI), Genetic Testing, Oncology, Pharmacogenetics, Human Leukocytes Antigen (HLA), Blood Screening, Others), End-Users (Hospitals, Clinics & Labs, Other Healthcare Facilities) and Geographical analysis (key regions and countries).
As per the research report, Global Molecular Diagnostics Market was valued at US$ 6,242.6 million in 2018 and is anticipated to reach US$ 9,546.2 million by 2025 displaying a reasonable CAGR of 6.3% over the forecast period (2019-2025). The identification of genomic variants is referred to as molecular diagnostics, and it aims to make detection, analysis, subclassification, prognosis, and therapy response control easier. Due to factors such as the growing geriatric population, the prevalence of chronic diseases, the growth of point-of-care diagnosis, developments in genomics and proteomics, and the launch of technologically advanced drugs, the Molecular Diagnostics market is expected to expand tremendously. The demand for molecular diagnostics techniques is increasing as the incidence of infectious diseases and cancer rises. The rapid advances in molecular biology technology, the development of molecular diagnostic technologies to automated systems, and increasing knowledge about the use of molecular diagnostics for disease detection in developing countries are all contributing to the overall market growth. The sector will see an increase in spending in unifying technologies, lab consolidation and automation, and a transition to data-driven healthcare. However, high molecular diagnostics test rates and unfavourable reimbursement policies will be major roadblocks to the market's development.
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Diagnostic suppliers must consider, explain, and specifically express how their offerings will contribute to not just improved patient care but also benefit for a number of core stakeholders in this changing world. Diagnostic technology can influence the quality and cost of treatment in a variety of ways. Medical diagnostic tests and innovations are at the cutting edge of precision treatment and patient care. These systems are becoming particularly important in ensuring that the appropriate care is delivered to the appropriate patient at the appropriate time. Diagnostics is becoming increasingly important in the delivery of effective health care, thanks to advances in life sciences and test technology. Diagnostics have a profound impact on clinical decision-making, as is well appreciated by health-care stakeholders. Nonetheless, in the face of increasing scrutiny and cost pressure aimed at virtually every health-care industry, diagnostic test creators must be able to show the relevance of their tests to a range of stakeholders.
“Reagents are the majorly used product under the Molecular Diagnostics market, holding ~69% share in 2018”
The global molecular diagnostics market is divided into three categories: instruments, reagents, and facilities, and others. Because of the high demand for over-the-counter diagnostic tests and the increase in use of these tests in nonmedical facilities such as homes, the Reagents category is expected to expand rapidly and to dominate the market by 2025.
“Polymerase chain reaction (PCR) is expected to dominate the technique segment during the analyzed period.”
Polymerase Chain Reaction (PCR), Transcription-Mediated Amplification (TMA), In Situ Hybridization, DNA Sequencing & Next-Generation Sequencing (NGS), Chips and Microarrays, and others make up the molecular diagnostics sector. Due to increased use and advances in PCR techniques, the PCR segment held the largest share and is projected to retain its supremacy during the forecast period 2019-2025.
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“Molecular Diagnostic techniques are majorly applied for Virology study, the segment generated revenue of US$ 2,243.9 million in 2018”
Microbiology, Virology, Hospital Acquired Infections (HAI), Genetic Testing, Oncology, Pharmacogenetics, Human Leukocyte Antigen (HLA), Blood Screening, among other medical fields all use molecular diagnostics. The Virology segment led the industry in 2018 and is expected to continue to do so in 2025. During the forecast period 2019-2025, however, the Oncology application segment is projected to expand at the fastest rate of 8.27 percent.
“Amongst end-users’ type, hospitals are anticipated to dominate Global Molecular Diagnostics market by 2025.”
The most common end-users of molecular diagnostic technologies are hospitals, clinics, and laboratories, among others. The Hospitals segment led the technology application in 2018. High procedure volume and a large presence of ancillary resources in terms of personnel and facilities are driving expanded usage in hospitals. During the study period, however, the Clinics & Labs application form is expected to rise at a fair CAGR.
“North America dominated the market for molecular diagnostic technology in 2018, followed by Asia-Pacific and Europe”
Detail regional/country-level research is performed for markets such as North America (US, Canada, Rest of US), Europe (Germany, France, Spain, Italy, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and Rest of World (Brazil and Other Rest of World) for a deep-dive analysis of the sector. North America brought in US$ 2,964.9 million in 2018, but Asia-Pacific is projected to grow at the fastest rate of 6.74 percent over the estimated period. North America's supremacy is largely due to the existence of a well-established diagnostic system, technical advances, patient recognition, and the availability of innovative molecular diagnostics drugs.
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