Molecular Diagnostics market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2026 at a CAGR of 12.4% from 2020 to 2026.
Molecular diagnostics, also called molecular pathology involves taking DNA or RNA, the unique genetic code found in our cells and analyzing the sequences for red flags that can pinpoint the potential emergence of a specific disease. The field has expanded rapidly in recent years thanks to development in the pharmaceutical, and healthcare industry as well next-generation scientific sequencing advancement.
Global Molecular Diagnostics Market Dynamics:
Rising incidences of infectious diseases to drive molecular diagnostics market
Chronic diseases such as lung diseases, Parkinson’s disease, heart disease, and diabetes affect the elderly population, which in turn has fueled the molecular diagnostics market. Alzheimer's disease and dementia are most prevalent in people aged 60 and up, according to the centers for disease control and prevention (cdc), and the risk increases with age. The burden of age-related chronic disease is increasing in both developed and developing countries, fueling the growth of the molecular diagnostics market over the forecast period.
Early-stage diagnosis of multiple diseases is possible thanks to molecular diagnostics, which allows healthcare providers to make better decisions right at the start of therapeutic treatment. The results of molecular diagnostics contribute to improved and more positive health patient outcomes. During the forecast period, such a positive scenario is expected to propel the molecular diagnostics industry forward. The molecular diagnostics industry is showing a Northward trend besides, the growing geriatric population provides a lucrative growth opportunity for the key player operating in the market.
The report has profiled fourteen key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in the North America. Major country’s policies about manufacturing and their impact on Molecular Diagnostics demand are covered in the report.
Global Molecular Diagnostics Market Segment Analysis
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The reagents & kits segment is expected grow at a CAGR of xx% during the forecast period.
Based on the product, in 2019, the reagents & kits segment holds the largest market share of xx% and it is estimated to reach USD$ XX Mn by 2026. The high use of reagents in molecular diagnostic research increased adoption of these tests in non-medical facilities such as home self-testing and, increasing demand for over-the-counter diagnostic tests are some of the major growth drivers for the segment.
Global Molecular Diagnostics Market Regional Insights:
North America to witness high market growth rate and is expected to grow at a CAGR of xx% by 2026
North America is expected to hold the largest share of the global Molecular Diagnostics market, while Asia Pacific is expected to rise at the fastest CAGR of xx%. The market growth in this region's because of the growing geriatric population and the establishment of new health facilities. In addition, thanks to the presence of innovative molecular diagnostics technologies, well-established diagnostic systems, patient awareness, and technological advancements, North America leads the market. The market growth in the Asia Pacific is rising FDA and governments investment in the development of healthcare infrastructure which in turn has fuelled the market growth especially in countries like India, China, and Vietnam among others.
The objective of the report is to present a comprehensive analysis of the global packaging testing market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global packaging testing market dynamics, structure by analyzing the market segments and project the global packaging testing market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global packaging testing market make the report investor’s guide.
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Global Molecular Diagnostics Market Scope: Inquire before buying
Global Molecular Diagnostics Market, by Region
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America
Global Molecular Diagnostics Market Key Players
• Hoffmann-La Roche Ltd
• Hologic, Inc.
• QIAGEN
• Becton
• Dickinson and Company
• Abbott Laboratories
• Cepheid
• Siemens
• Thermo Fisher Scientific
• Agilent Technologies
• Grifols, S.A.
• Abbott Laboratories
• Siemens Healthineers
• Beckman Coulter, Inc.
• Other Key Players
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