Evolving Technologies, Followed By Increasing Awareness &Acceptance of the Adapted Medicineto Drive the Molecular Diagnostic Market: Ken Research

Molecular diagnostics detect and measure theexistence of genetic material or proteinsassociated with a specific health conditionor disease to uncover theunderlying mechanisms of disease andenabling clinicians to tailor care at an individual level. These tests are useful in various medical special areas including infectious disease, human leucocyte antigen typing, oncology, coagulation, and pharmacogenomics.

According to study, “Worldwide Molecular Diagnostics Market Trends and Drivers, Restraints, and Opportunities 2017-2023” some of the major companies that are currently working in the worldwide molecular diagnostics market areHologic, Inc, F. Hoffmann-la Roche, Danaher Corporation, Siemens Healthineers Inc., Qiagen N.V., Abbott Laboratories, Becton Dickenson and Company, Quest Diagnostics Inc., Abbott Molecular, Tecan Group Ltd., Hoffmann-La Roche Ltd., Illumina, Inc., Diasorin, Grifols International S.A, Advanced Cell Diagnostics, The ELI TechGroup, Roche Diagnostics, Siemens Healthineers Inc., Hologic Corporation, Agilent Technologies/Dako, Amoy Diagnostics, Meridian Bioscience, Biocartis, Genmark Diagnostics, Beijing Genomics Institute (BGI), Myriad Genetics, Bio-ad Laboratories Inc, Exosome Diagnostics, Nanostring Technologies, Applied Spectral Imaging, Laboratory Corporation of America, Orchid Biosciences and Dianon Cellmark Forensics, American Association of Blood Banks, Ariosa Diagnostics, Chronix Biomedical, PerkinElmer, Inc. (PE), Signature Diagnostics, Central Drugs Standard Control Organization, Great Basin Scientific, Genomic Health Inc., Cepheid Inc., Thermo Fisher Scientific, bioMerieux S.A.

Based on the technology, the worldwide molecular diagnostic market is segmented into chips & microarrays, Isothermal Nucleic Acid Amplification Technology (INAAT), Transcription Mediated Amplification (TMA), Fluorescence In-Situ hybridization, molecular imaging, cytogenetics, gene expression-based studies, Polymerase Chain Reaction (PCR) based methods, mass spectroscopy and DNA sequencing. Hybridization is further sub-segmented into In-Situ Hybridization (ISH) and Fluorescence In-Situ Hybridization (FISH). Molecular imaging is sub-segmented into FDG-PET and optical imaging. PCR based methods include Cold-PCR, directlinear analysis, real-time PCR, digital-PCR, reverse transcriptase PCR and quantitative fluorescent PCR. DNA sequencing includes Next Generation Sequencing (NGS) and Capillary Electrophoresis (CE).

Some of the major advantages of the molecular diagnostic techniques includesensitive & specific, ease of testing, and rapid turnaround time (TAT) and large volume testing. Based on the application, the market is segmented into oncology, human leukocyte antigen typing,infectious disease, pharmacogenomics, blood screening, genetic disease screening and microbiology. Infectious disease includes human immunodeficiency virus (HIV), meningitis, flu, tuberculosis, Chlamydia Trachomatis or Neisseria gonorrhoeae CT/NG, Human papilloma virus (HPV), TB, H.Pylori, dengue, influenza, TORCH and hepatitis.

The market of molecular diagnostics is mainly driven by large outbreaks of bacterial & viral epidemics followed by evolving technologies, pharmacogenomics, increasing awareness & acceptance of adapted medicine & companion diagnostics, higher expenditure in life science, increasing patient with bone disorders, increasing government support, concentration of major companies, high prevalence of infectious diseases & different types of cancers, and increasing demand for the point- of-care diagnostics. However, market is also impactedby the restraints such ashigh complexity testing centers, lack of proper reimbursement policies, complex regulatory frameworks, economic turndown and limited budget. Additionally, some new prospects include growth opportunities in emerging markets and advances in genomics & proteomics.

America leads the global market for molecular diagnostics owing to growing demand for the advanced techniques & molecular diagnostics. It is estimated that the molecular diagnostics market to reach at US $11.5 billion by 2023 from US$7.1 billion in 2017, at a CAGR of 8.4%.

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