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Increasing Prevalence of Infectious Diseases to Drive Molecular Diagnostics Market

Date: 8th Jun 2020 | Category: Pharma & Healthcare

The global molecular diagnostics market is estimated to reach US$17.96 billion in 2024, growing at a CAGR of 6.16% for the period spanning from 2020 to 2024. The factors such as rising emergence of infectious diseases rise in global ageing population, increasing incidence of cancer cases are expected to drive the market. However, growth of the industry will be challenged by high initial cost, dearth of trained professionals, urgent need for proper infrastructure and delay in the approval of new molecular diagnostic tests. A few notable trends include progressing sample-to-answer molecular diagnostics market, growth in point of care diagnostics (poct), booming medical devices industry, innovation and technical developments, emergence of liquid biopsy solutions, targeting anti-biotic resistance , decentralization of diagnostic testing, advances in genomics and proteomics.

The global molecular diagnostics market is segmented into, infectious diseases, oncology, genetics, blood screening, and tissue typing. 

The global molecular diagnostics market is expected to grow in future mainly due to diagnosis of infectious diseases. In terms of geographical areas, North America is the major contributors to the global molecular diagnostics market supported by rising spread of infectious diseases and presence of a well-established diagnostic infrastructure, technological advancements. Asia Pacific represents the fastest growing market for molecular diagnostics with rapidly developing infrastructure and increasing investments in research and development.

Scope of the report:

• The report provides a comprehensive analysis of the global molecular diagnostics market, segmented into, infectious diseases, oncology, genetics, blood screening, and tissue typing.

• The major regional markets (North America, Western Europe and Asia Pacific) have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (Roche Holding AG, Abbott Laboratories, Danaher Corporation, Hologic Inc., Biomerieux SA and Thermo Fisher Scientific Inc. ) are also presented in detail.

Key Target Audience:

• Diagnostics Product Manufacturers

• End Users 

• Consulting Firms 

• Investment Banks

• Government Bodies & Regulating Authorities