Research and Markets - Global Molecular Diagnostics Market Growth at a CAGR of 9%, 2010-2021: Key Vendors are Roche, Abbott, Qiagen, Hologic, Biomerieux, Myriad Genetics, Cepheid & Becton Dickinson
The molecular diagnostics market is one of the most rapidly growing segments of the in vitro diagnostics industry. Molecular diagnostics is a new class of diagnostic tests that identify molecular and genetic markers for an individual patient. These markers determine potential benefit from a specific therapy or risk of developing a specific disease or other health condition.
North America, particularly, United States is the key market for molecular diagnostics due to the availability of government funds, rising incidence of chronic diseases, the availability of different types of tests, and high awareness of pharmacogenomics/personalized medicine. Moreover, major companies have easy access to United States which makes the country largest and most significant market for suppliers. Additionally, new molecular diagnostic tests are regularly introduced to the market for screening or diagnosing a wide range of patient types for numerous diseases.
Molecular diagnostics is being driven by several growth factors, which include the need for automated and easy-to-handle techniques, which combine optimized sample preparation, analysis and data evaluation, and the growing availability of molecular diagnostic tests for monitoring the therapeutic efficacy of expensive drugs.
Additionally, the requirement of swift diagnoses techniques that would diagnose disease condition, medical disorders quickly and offer a strong and consistent tool for quick therapy decisions represents the other key factor. Introduction of new diagnostics tests, primarily in the infectious disease application area is likely to keep the momentum going for the molecular diagnostics business in the short-term.
Key Highlights:
Molecular Diagnostics Market and Forecast - 9 Applications Segment Covered:
Molecular Diagnostics Market and Forecast - 8 Technological Segments Covered
Molecular Diagnostics Market and Forecast - 9 Companies Covered
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