The term molecular
diagnostics refers to the branch of the clinical pathology or the laboratory
medicine that uses the several molecular biology techniques to the diagnose
diseases, select treatments, monitor and examine the effectiveness and
efficiency of the therapies, predict diseases course and several others. These
tests are functioned majorly to monitor the availability of the diseases in the
blood, bones or even in blood. The prominence of the nucleic acids and other
cellular biomarkers in describing the vigorous cellular procedure has simplifiedthe
medical developments in the diagnoses of the several diseases. According to the
prediction of the American Cancer Society, around 1,688,780 new cancer cases
were diagnosed, and 600,920 people deceased owing to the cancer in 2017.
According to the examination by World Health Organization (WHO), in 2017 nearly
14 million new cancer cases were diagnosed and is anticipated to increase by
about 70% over the next 2 decades. Whereas, the early diagnosis of the disease
is one of the key recompenses of this technology. The potential of the
molecular diagnostics to schematize the molecular reactions for the significant
developments of the clinical diagnosis has put healthcare in the front
line.
According to the report
analysis, ‘Molecular
Diagnostics Market (US-specific Market Assessment) - Global Forecast
upto 2024’ states that there are several key players which are presently functioning
in this sector more actively for leading the fastest market growth and
dominating the handsome value of market share across the globe more positively
in the short span of time while increasing the acceptance of point-of-care testing
and rising prevalence of the infectious and several other lifestyle diseases
includes F. Hoffmann-La Roche, Hologic, Inc., Danaher Corporation, Abbott
Laboratories, and Siemens Healthineers Inc. are the key players in the market.
Becton Dickenson and Company, bioMerieux S.A., Bio-Rad Laboratories, Inc.,
Qiagen NV, Grifols, S.A, Thermo Fisher Scientific, Sysmex Corporation, and
Myriad Genetics.
The global molecular
diagnostics market is predictable to observe a handsome CAGR of 8.7% during the
forecast period of 2018-2024.Whereas, based on the region the market of
molecular diagnostics is sectored into different regions which majorly involves
North America, Europe, Asia Pacific, and Rest of the World (ROW). However, the
significant increase in the incidences of disease and organ transplantation in
the US along with growing funding by government& private players and
augmented adoption of personalized medicine in clinical practices are few of the
aspects fueling the US molecular diagnostics market growth. The US engaged
a dominant market share that is 32% in 2017, and is anticipated to increase at
an effective CAGR of 8.4% during the forecast period of 2018-2024.
Additionally, significant growth in the
number of mergers & acquisitions and rising the significance of companion
diagnostics are delivering the opportunities for the market growth. Low
awareness about standardization, rigorous regulatory approval process, and
shortage of experienced labors are hindering the market growth. However, the
market for molecular diagnostics is effectively fueled by the growing
pervasiveness of infectious and other lifestyle diseases, rising ultimatum for
the non-invasive biomarker-based tests, increasing acceptance of the point-of-care
testing, and extraordinary growth of the market in emerging countries.
Therefore, in the coming years, it is anticipated that the market of molecular
diagnostics will increase across the globe more positively over the recent few
years.
For more information on the research
report, refer to below link:
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