Global Molecular Diagnostics Market: Snapshot
Clinical molecular diagnostics is a modern era of Next Generation Sequencing (NGS) technique. This technique is an apt solution for proper diagnostic care. Nowadays, it has become easier to operate a sophisticated molecular lab because of the transformation of the digital world and automated functioning with advanced technology. Predominating PCR based testing methodologies are upgrading the ground of molecular diagnostics ineffective identification of microbial infections and genetic illnesses. These tests are very useful in case of medical specialisms such as oncology, infectious disease, human leucocyte antigen typing, coagulation, and pharmacogenomics. Molecular diagnostics technique analyze the presence of biological markers in the DNA, RNA of an organism by applying microbiology to medical testing. It is a crucial component associated with patient care.
User-friendly real-time polymerase chain reaction (PCR) products, Bio-line molecular reagents, and other advanced products are used to determine the presence of viruses, fungi, bacteria, and parasites. Additionally, they are playing a prominent role in detecting infectious diseases and also in enabling the rapid molecular diagnostic test development and commercialization. In the U.S., approximately 2 million people are getting infected with antibiotic-resistant bacteria every year, resulting in 23,000 deaths. Rising demand for new molecular diagnostic methods which are highly recommended for fungal detection.
Therefore the infectious disease application segment of the Molecular Diagnostic Market is projected to boom with a progressive CAGR of around 12%-15% through to 2025. North America held a major share of about 34%-37% in the global molecular diagnostics market due to the established footprints of major players such as Roche, Hologic, Qiagen N.V., Abbott Laboratories, and Danaher Corporation. Centers for disease control and prevention efforts to prevent trending staph infections coupled with FDA regulations positive reflection to develop effective testing methodologies are boosting the share of U.S. in this region. In the U.S. 119,000 bloodstream infections and around 20,000 deaths are recorded in 2017 from 400 acute care hospitals, it was revealed by the CDC emerging infections program.
Through the intense research analysis of IndustryARC analysts, it was found that the global molecular diagnostics market valued $16.54 billion-$17.44 billion in 2018. “Molecular Diagnostics Market: By Products (Analyzers, Reagents); By Technology (PCR, INAAT, Hybridization, DNA Sequencing Others); By End Users (Hospitals, Clinical Laboratories, Academics); By Applications (Oncology, Microbiology, Others) & By Geography – Forecast (2019-2025).” Trendy personalized medicine, rely on DNA sequencing and molecular diagnostics which in turn impacting the growth of the molecular diagnostics market. An increasing number of companies who focused on to provide high-value diagnostics, precision medicine, and imperative molecular testing solutions are proliferating the growth of the global molecular diagnostics market with a notable CAGR of around 4.5%-4.8% over the forecast period 2019-2025.
Global Molecular Diagnostics Market Companies: Revenue Augmentations
Roche, Hologic Inc, Qiagen N.V., Abbott Laboratories, and Danaher Corporation are the major players which are holding the largest share of the global molecular diagnostics market.
- Roche experienced 8% year-over-year growth from its diagnostics division in the first half of 2018(H1). This rise is due to the incessant demand for immunodiagnostic solutions, of the centralized and point of care solutions business segment. Molecular diagnostics revenue increased at 6% that is from CHF 920 million to CHF 979 million in H1 of 2018 which has contributed for a rise of nearly 15.6% to diagnostics sales.
- Hologic found a notable rise in the revenue generated from molecular diagnostics that is about 10.5% in the first quarter of 2019 which was accounted to $164.3 million. It is owing to the high adoption of virology products and Aptima women’s health assays. These are the primary growth drivers of molecular diagnostics
Molecular diagnostics is an advanced or extended application of NGS. The digital world is transforming the complexes associated to maintain molecular labs along with advanced technologies. Infectious diseases application is estimated to propel the growth of molecular diagnostics market during the forecast period 2019-2025.
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