Press Release
Healthcare

Molecular Diagnostics Market by North America and Europe Region to 2023 – Infectious Disease, Oncology, DNA Sequencing and NGS Applications

New report added on molecular diagnostics market dominated by infectious diseases, oncology, blood screening, microbiology, genetic testing, and women’s health analysis of end user, like hospitals, diagnostic laboratories, blood banks, academics, & research.

The global molecular diagnostics market is projected to reach USD 10.12 Billion by 2023 from USD 6.54 Billion in 2018, at a CAGR of 9.1% from 2018 to 2023.

Molecular diagnostics market is the rapidly growing segment of in-vitro diagnostic market. While the market is well established in developed economies, developing economies are still dependent on traditional diagnostic technologies.

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In this report, global molecular diagnostics market is broadly segmented by products & services, application, technology, end user, and region. As most diagnostic tests are performed in-house, the hospital & academic laboratories segment is expected to dominate the market. However, developing economies will witness robust growth in the coming years due to rising awareness and growing healthcare spending.

“The reagents & kits segment to dominate the molecular diagnostics market, by product& service in 2018.”

Major factors driving molecular diagnostics market are high prevalence of infectious diseases & various types of cancer, increasing awareness and acceptance of personalized medicine & companion diagnostics, growth in biomarker identification market & advancements in molecular techniques; & reforms in reimbursement system in U.S. Complex regulatory framework major factor restraining growth of market.

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Molecular diagnostics market segment will grow at the fastest pace during the forecast period. On basis of region, North America is expected to account for largest share of global molecular diagnostics market in 2016, followed by Europe. Growth of North American molecular diagnostics market is majorly driven by the factors such as availability of government funds, growing applications of MDx in genetic disorders and cancer screening, and ease of use of self-monitoring techniques.

In this report, the molecular diagnostics market is segmented on the basis of product& service, application, technology, end user, and region. The study tracks and analyzes competitive developments such as product launches& approvals, acquisitions, collaborations, agreements, partnerships, and expansions, and core competencies in the molecular diagnostics market.

The molecular diagnostics market, by application, is classified into infectious diseases, oncology, genetics, blood screening, microbiology, and applications. Major players operating in the molecular diagnostics market are Roche Diagnostics (U.S.), QIAGEN N.V. (Netherlands), Hologic Inc. (U.S.), Grifols (Spain), Abbott Laboratories (U.S.), Siemens Healthcare (Germany), Becton, Dickinson and Company (U.S.), Beckman Coulter Inc. (U.S.), bioMérieux SA (France), and Cepheid Inc. (U.S.).

More Details on “Molecular Diagnostics Market by Application (Infectious Disease (HIV, HBV, TB), Oncology, Genetics, Microbiology), Technology (PCR, Hybridization, DNA Sequencing), End User (Hospitals, Laboratory), Product & Service (Reagent, Software) – Forecast to 2021” Report at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=288443 .

Infectious disease testing currently represents largest segment in the industry while genetic testing and oncology testing are amongst the fastest growing application segments. The end users of the market include, academic and research laboratories Fluctuation in the R&D budget can adversely affect the market growth; R&D funding fluctuates by the change in spending priorities and institutional budget.

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Above mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make necessary decisions regarding product offerings, geographical focus, change in approach, R&D investments for innovations in products and technologies, and levels of output to remain successful.

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