Global Molecular Diagnostics market – Overview

• The report will cover the overall analysis and insights in relation to the size and growth rate of the “Global Molecular Diagnostics market ” by various segments at a global and regional level for the 2014-2027 period, with 2014-2019 as historical data, 2020 as a base year, 2021 as an estimated year and 2021-2027 as forecast period.

Global Molecular Diagnostics market – Introduction

• Molecular diagnostics is the most effective method for identifying and characterizing This test must be precise, quick, and capable of identifying the organism’s strain and drug susceptibility more quickly. Molecular diagnostic tests are used to detect specific sequences in DNA or RNA, including single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others to further diagnose the disease. These are cumulative techniques for analyzing biological markers at the molecular level, such as genome and proteome. These techniques are used for diagnosis of the various infectious diseases, cancer, and others and is also used to check the genetic predisposition to a disease.
• The popularity of molecular diagnostics is increasing continuously in life sciences industry due to its wide application for disease diagnosis on molecular level. However, high cost of instruments and molecular diagnostics test will hamper the overall molecular diagnostics market growth.
• Rising incidence of cancer worldwide and growing demand for point-of-care (POC) diagnostics in developing countries is anticipated to drive the molecular diagnostics market progression over the forecast period.

Report Includes

• A brief overview of the commercial potential of products, technologies and applications.
• Description of properties and manufacturing processes.
• Discussion of the current state, setbacks, innovations, and the future needs of the market.
• Detailed discussion regarding impact of product on demand
• Up-to-date analyses of market trends and technological improvements in the market
• Examination of the market by application and by product sizes; utility scale, medium scale and small scale.
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
• The report focuses on detailed profile of major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information.
• Coverage of historical overview, key industrial development and regulatory framework.

Global Molecular Diagnostics market Report Scope

• The scope of the report covers the clear understanding and overview of the product.
• Analysis of market trends in the region, with market data considering 2020 as the base year, 2021 as the estimate year and forecast for 2027 with projection of CAGR from 2021 to 2027.
• The report covers discussion of economic trends and technology.
• Market estimates represent revenue.
• In-depth analysis of the market segmentation assists in determining the prevailing market scope.

Segments Covered in Global Molecular Diagnostics market

• The global Molecular Diagnostics market is divided into different segments on the basis of Product, types, Technology, Application, and region. The Molecular Diagnostics market segment on the basis of Product includes Reagents & Kits, Instruments, Software & Service. On the basis of Technology, the Molecular Diagnostics market segment comprises a Polymerase Chain Reaction (PCR), In-Situ Hybridization, Isothermal Nucleic Acid Amplification Technology (INAAT), Sequencing, Chips & Microarrays, In Situ Hybridization (ISH) and many more. The global Molecular Diagnostics market segment by the Application involves Infectious Disease, Blood Screening, Histology & Oncology, Genetic Testing and many other sectors. Infectious diseases held an estimated 60.0% of the market share in 2017.
• The global Molecular Diagnostics market segment on the basis of region includes Europe, Asia-Pacific, North America, and other parts of the world. Moreover, higher potential for intense penetration of advanced diagnostics in the Asia Pacific market may offer significant share for the companies in terms of revenue in the global molecular diagnostics market.

Covid-19 Impact on the Global Molecular Diagnostics market

COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. With the COVID-19 pandemic, responding to infectious disease has become a pressing medical issue worldwide. In addition to the development of vaccines and drugs, there is a growing call for the development of more precise and simple testing technologies and the expansion of testing structures. COVID-19 has also impacted the regulatory environment and practices, as governments and healthcare providers face unprecedented challenges. Regulatory authorities utilized methods to speed approval of diagnostic products. Companies have taken strategic developments to introduce COVID-19 rapid tests, sustain their revenues, and nullify the impact of COVID-19 on their operational capabilities

Recent Developments in Global Molecular Diagnostics market

• March 2021 -QIAGEN N.V. made an announcement of the launch of the QIAcube Connect MDx, an adaptable platform for automated sample processing to be available to molecular diagnostic laboratories in the U.S. and Canada and other markets globally.
• April 2020 – BD, a medical technology company, and BioGX Inc., a molecular diagnostics company, made an announcement of submitting the Emergency Use Authorization requests for the approval of new diagnostic test to U.S. Food and Drug Administration (FDA) which when approved will allow hospitals to screen for COVID-19 and get the results in three hours.

Key Market Players in Global Molecular Diagnostics market

• The major players in the Global Molecular Diagnostics market are Abbott Laboratories; ABACUS Diagnostica Oy; Agilent Technologies, Inc.; Amoy Diagnostics Co., Ltd.; Becton; BD; bioMerieux SA; Bio-Rad Laboratories, Inc.; Biocartis NV; Cepheid; Dickinson and Company; DiaSorin S.p.A; Danaher Corporation; Exact Sciences Corporation; ELITechGroup; F. Hoffmann-La Roche Ltd.; Grifols International, S.A.; Genetic Signatures; GenMark Diagnostics Inc.; Hologic, Inc.; HTG Molecular Diagnostics; Illumina, Inc.; Luminex Corporation; Myriad Genetics Inc.; MDxHealth; Molbio Diagnostics Pvt. Ltd.; QIAGEN N.V.; QuestDiagnostics, Inc.; Quidel Corporation; Siemens Healthcare GmbH; Sysmex Corporation; Savyon Diagnostics Ltd.; Tecan Group Ltd.; TBG Diagnostics Ltd.  The ELITechGroup; Thermo Fisher Scientific; Vela Diagnostics and Others.
• Also, the Molecular Diagnostics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
• Abbott Laboratories are expected to lead the global market during the forecast period. Optimal research & development strategies, robust supply chain network, increasing investments in research & development and cost management are projected to serve huge opportunity for the aforementioned market players to lead this market during the forecast period.

Objectives of the study

To provide detailed information regarding drivers, restraints, opportunities and challenges are influencing the growth in the respective market. To analyze the competitive intelligence of players based on company profiles and their key growth strategies. To strategically analyze micro markets with respect to the individual growth trends, their prospects, and their contribution to the total respective market. To analyze competitive developments such as expansions, and product launches, along with research & development (R&D) activities undertaken in the respective market. A unique model is created customized for each study also offers suggestions that help enterprises to identify and mitigate risks.

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