The Global MolecularDiagnostics Market, by Product Type (Reagents & Kits and Instruments),By Application (Oncology, Genetic Testing, Microbiology, STDs, Blood Screening,Virology, Tissue Typing, Prenatal Diagnosis, and Others), By End User(Hospitals, Diagnostic Laboratories, Academic and Research Labs, and Other) wasvalued US$ 8,623.2 million in 2017 and is projected to exhibit a CAGR of 11.5%over the forecast period (2017 - 2025).
New product launches by marketplayers coupled with rising government initiatives are major factors drivinggrowth of the global molecular diagnostics market over the forecast period.Molecular diagnostic test are done for diagnosis and drug discovery &development purpose. Molecular diagnostic test results are quick and accurate,which has led to increasing demand for these. In order to cater to growingdemand for such tests, manufacturers are more focused on research &development for new product launches. For instance, in February 2017,AITbiotech Pte Ltd., a Singapore-based genomic service and moleculardiagnostics (MDx) company, exhibited its comprehensive range of abTES MDxassays, including its newly launched Zika assays and the multiplex respiratorypanel, at MEDLAB 2017, the world’s largest laboratory exhibition and congressin the Middle East. Furthermore, in October 2017, FDA approved Roche’s cobasZika, as first commercially-available donor screening test for Zika virus. InOctober 2017, QIAGEN launched the custom solution for the molecular diagnostictest, which accelerated adoption of molecular testing for life sciences andmolecular diagnostics companies. Moreover, governments of various countries arefocusing on initiatives, in order to develop novel techniques in precisionmedicines. For instance, the U.S. government launched Precision MedicineInitiative (PMI) in 2015, in order to increase awareness and focus onadvancements in the precision medicine field, which in turn is expected tofavor growth of the molecular diagnostics market.
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Browse 37 Market Data Tables and35 Figures spread through 176 Pages and in-depth TOC on " MolecularDiagnostics Market, by Product Type (Reagents & Kits and Instruments), ByApplication (Oncology, Genetic Testing, Microbiology, STDs, Blood Screening,Virology, Tissue Typing, Prenatal Diagnosis, and Others), By End User(Hospitals, Diagnostic Laboratories, Academic and Research Labs, and Other) -Global Forecast to 2025"
Furthermore, in March 2017,Cepheid, Rutgers New Jersey Medical School and FIND announced a new version ofthe Xpert MTB/RIF test, the Xpert MTB/RIF Ultra (Ultra), for the diagnosis ofTB and rifampicin resistance. In August 2017, Selfdiagnostics launched the STDMultitest at MEDICA 2017. STD Multitest is the first and only rapid chlamydiaand gonorrhoea duplex disposable molecular test in the world. In July 2017,Roche announced commercial availability of the cobas HIV-1/HIV-2 for use on theautomated cobas 6800/8800 Systems in countries accepting the CE mark. In July2017, DiaSorin launched a new CE-IVD molecular diagnostic test, Iam CBFB-MYH11(not available in the U.S.) for ultra-rapid identification of one of the mostcommon genetic causes of Acute Myeloid Leukemia (AML).Therefore, theseincreasing product launches in molecular diagnostics is expected to fostergrowth of the market in the near future.
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Key takeaways of the MolecularDiagnostics Market:
The global molecular diagnosticsmarket is expected to expand at a CAGR of 11.5% during the forecast period(2017–2025), owing to growth in biomarker identification and increasingawareness and adoption of precision medicine
Reagents and kits segment holds amajor market share in product type, due to increasing awareness regarding earlydisease diagnosis and early treatment
Virology segment holds thelargest revenue share among application segments, due rapid implementation ofdiagnostic tests for new discovered viruses. For instance, In October 2017,Hologic, Inc. received US FDA approval for the company’s Panther Fusion ParafluAssay used for detection and differentiate of Para-influenza viruses 1, 2, 3,and 4.
Some of the major players operatingin global molecular diagnostics market are Abbott Laboratories, Hologic, Inc.,Grifols, S.A., Qiagen N.V., F.Hoffmann-La Roche Ltd., Siemens Healthineers,Becton, Dickinson and Company, and Beckmann Coulter, Inc.
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