The latest market report published by Credence Research, Inc. “Global Molecular Diagnostics Market By Product (Reagents And Kits, Instruments, Services And Software), By Technology (Polymerase Chain Reaction, Isothermal Nucleic Acid Amplification Technology, Insitu Hybridization, Microarray), By Application (Infectious Disease, Oncology, Next Generation Sequencing, Dna Sequencing, Microbiology) — Growth, Future Prospects, Competitive Analysis, 2017–2025,” the worldwide market for molecular diagnostics was valued at US$ 6,077.9 million in 2016 and is anticipated to reach US$ 12,358.6 million by 2025 with a 7.8% increase in CAGR from 2017 to 2025.
Browse the full report at https://www.credenceresearch.com/report/molecular-diagnostic-market
Market Insights
Molecular diagnosis has experienced tremendous technological development owing to the increasing need for personalized medication, the fast diagnosis of antibiotic regimens to avoid drug resistance, and the in-depth study of pandemic diseases such as Cholera, Swine Flu, Dengue and Hepatitis A. In 2016, reagents and kits retained the biggest income share for the product segment owing to variables such as growing numbers of hospitals and laboratories performing diagnostics, increasing public knowledge of early disease diagnosis and therapy, and government initiatives to support public health and welfare. Instruments will be the fastest increasing segment of the products considered during the 2017–2025 forecast period, as they undergo massive changes corresponding to particular demands and built-in apps make it easier for qualified workers to conduct precise diagnostics over a shorter period of time.
Infectious disease diagnosis is the major segment among application fields owing to variables such as an increasing amount of infectious diseases and an increasing demand for infectious disease diagnosis in tropical countries as the climate favors microbes and vectors transmitting such illnesses. Oncology will be the fastest growing segment of the application industry in the 2017–2025 forecast period, mainly owing to variables such as rising cancer incidence, increasing demand for pharmacogenomics and technological advances in molecular diagnostic instruments. Polymerase chain reaction is the biggest market in the technology segment for base year 2016 owing to variables such as its capacity for detecting rare diseases, increasing demand for personalized medicines and pharmacogenomics, and its potential for creating a patient DNA sequence that will help prevent several life-threatening illnesses. Microarray will be the fastest-growing technology segment in the 2017–2025 forecast period as it is helpful in diagnosing different types of cancer on the basis of the genetic pattern and increasing demand for toxicogenomics, which helps to identify the antibiotics of choice in cases of multiple drug resistance.
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The global molecular diagnostics market is technologically driven and includes major players such as Abbott Laboratories, Inc., Novartis AG, Alere, Inc., Siemens Healthcare, Bayer AG, and F.Hoffman La Roche Ltd. etc. are few market leaders in molecular diagnostic market and compete to augment their foothold in the market.
Key Market Movements:
- Rising prevalence of patients suffering with critical illnesses requiring immediate diagnosis
- Increase in the number of research and academic institutes utilizing diagnostic reagents and instruments
- Technological advancement in the nature of diagnostic reagents and kits providing better results
- Affordable reimbursement scenario
By Product Type
Reagents and Kits
Instruments
Services and Software
By Application Type
Infectious Diseases
Oncology
Next Generation Sequencing
DNA Sequencing
Microbiology
Others
By Technology Type
Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology
In situ Hybridization
Microarrays
Others
By Geography Segment
North America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
Latin America
Do Inquiry before buying report at https://www.credenceresearch.com/inquiry-before-buying/58588
Browse the full report at https://www.credenceresearch.com/report/molecular-diagnostic-market
Market Insights
Molecular diagnosis has experienced tremendous technological development owing to the increasing need for personalized medication, the fast diagnosis of antibiotic regimens to avoid drug resistance, and the in-depth study of pandemic diseases such as Cholera, Swine Flu, Dengue and Hepatitis A. In 2016, reagents and kits retained the biggest income share for the product segment owing to variables such as growing numbers of hospitals and laboratories performing diagnostics, increasing public knowledge of early disease diagnosis and therapy, and government initiatives to support public health and welfare. Instruments will be the fastest increasing segment of the products considered during the 2017–2025 forecast period, as they undergo massive changes corresponding to particular demands and built-in apps make it easier for qualified workers to conduct precise diagnostics over a shorter period of time.
Infectious disease diagnosis is the major segment among application fields owing to variables such as an increasing amount of infectious diseases and an increasing demand for infectious disease diagnosis in tropical countries as the climate favors microbes and vectors transmitting such illnesses. Oncology will be the fastest growing segment of the application industry in the 2017–2025 forecast period, mainly owing to variables such as rising cancer incidence, increasing demand for pharmacogenomics and technological advances in molecular diagnostic instruments. Polymerase chain reaction is the biggest market in the technology segment for base year 2016 owing to variables such as its capacity for detecting rare diseases, increasing demand for personalized medicines and pharmacogenomics, and its potential for creating a patient DNA sequence that will help prevent several life-threatening illnesses. Microarray will be the fastest-growing technology segment in the 2017–2025 forecast period as it is helpful in diagnosing different types of cancer on the basis of the genetic pattern and increasing demand for toxicogenomics, which helps to identify the antibiotics of choice in cases of multiple drug resistance.
Download Free PDF Sample Request: https://www.credenceresearch.com/sample-request/58588
The global molecular diagnostics market is technologically driven and includes major players such as Abbott Laboratories, Inc., Novartis AG, Alere, Inc., Siemens Healthcare, Bayer AG, and F.Hoffman La Roche Ltd. etc. are few market leaders in molecular diagnostic market and compete to augment their foothold in the market.
Key Market Movements:
- Rising prevalence of patients suffering with critical illnesses requiring immediate diagnosis
- Increase in the number of research and academic institutes utilizing diagnostic reagents and instruments
- Technological advancement in the nature of diagnostic reagents and kits providing better results
- Affordable reimbursement scenario
By Product Type
Reagents and Kits
Instruments
Services and Software
By Application Type
Infectious Diseases
Oncology
Next Generation Sequencing
DNA Sequencing
Microbiology
Others
By Technology Type
Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology
In situ Hybridization
Microarrays
Others
By Geography Segment
North America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
Latin America
Do Inquiry before buying report at https://www.credenceresearch.com/inquiry-before-buying/58588
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