1/1/2024 0 Comments Molecular diagnostics industryMolecular diagnostics market, based on technique is segmented into Polymerase Chain Reaction (PCR), Transcription-Mediated Amplification (TMA), In Situ Hybridization, DNA Sequencing & Next-Generation Sequencing (NGS), Chips and Microarrays and others. The market of the Reagents segment is expected to grow tremendously and is projected to dominate the market in 2025. To analyze the ongoing and projected development under the healthcare diagnostic sector browse through īased on product type the global molecular diagnostics market is bifurcated into Instruments, Reagents and services and others. As the demand for early diagnosis of these diseases is high, various public and private organizations are investing funds to accelerate R&D in the field of molecular diagnostics Increasing R&D activities focused on developing advanced tools and techniques intended to enable rapid as well as accurate diagnosis of disease will propel molecular diagnostics’ market growth. It has provided an immense scope of novel and more sophisticated biotechnology and biomedical tools to be employed in this sector procreating a new interdisciplinary field. Molecular diagnostics has made possible the diagnosis of the previously undetected viral nucleic acids and helped provide a deeper understanding of the cause of disease, treatment dose, and success of the treatment depending upon the case. Advancing molecular diagnostics has been the prime agenda of biomedical scientists around the globe. Thanks to the technological advances made in molecular diagnostics, above all in next-generation sequencing (NGS) and digital polymerase chain reaction (dPCR) platforms, clinical laboratories benefit from rapid translation of established and emerging molecular tests. The concept of clinical validity and utility underpins the use of molecular diagnostic tests in the clinical laboratory, and continuous sharing of expertise between clinical and laboratory partners will enhance the appropriateness of molecular testing and interpretation, thus improving personalized medicine. ![]() This will lead to the rise in the entry of players and this domain and will affect the molecular diagnostics market. In the US, healthcare spending is expected to grow 1.3% points faster than GDP annually, rising to comprise 20.1% of GDP by 2025. ![]() Healthcare expenditure as a proportion of gross domestic product (GDP) is on the rise. The high prices of molecular diagnostics tests and unfavourable reimbursement policies will act as the major restraints in the growth of this market.įor Regional/country-wise analysis of the overall adoption of Molecular Diagnostic technique browse through Moreover, changing reimbursement models and regulations, investing in unifying technology, consolidation and automation of labs would mark as the major trend in the industry. Additionally, rise in occurrence rates of cardiovascular disorders, genetic disorders, neurological disorders are also expected to fuel the market growth. The major reasons that will escalate the adoption of molecular diagnostics are high prevalence of infectious diseases and cancers, increasing awareness and acceptance of personalized medicine and companion diagnostics, growth in the biomarker identification market, and advancements in molecular techniques. The growing incidence of infectious diseases and cancer awareness programs, progress in biomarker identification, acceptance of personalized medicines would further drive the market growth over the forecast period. The molecular diagnostics market is anticipated to gain market worth of US$ 9.5 billion by 2025, expanding at a CAGR of 6.3% during the forecast period 2019-2025.
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