Molecular Diagnostics Market: Business Challenges, Emerging Technologies & Competitive Landscape

The global molecular diagnostics market is highly consolidated in nature, observes Transparency Market Research. The leading players accounted for a share of 54% in the overall market in 2015. F. Hoffman-La Roche Ltd., Abbott Laboratories, and Danaher Corporation have dominated the global market in the past few years. The broad product portfolio and strategic mergers and acquisitions have been the winning strategies of these players to remain dominant.

According to the research report, the global molecular diagnostic market is estimated to reach a valuation of US$18.9 bn by the end of 2025 as compared to US$7.1 bn in 2016. Between the forecast years of 2016 and 2025, the global market is estimated to expand at a steady CAGR of 11.6%.

This 164 page report gives readers a comprehensive overview of the molecular diagnostics market. Browse through 30 data tables and 76 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/molecular-diagnostics-industry.html

Well-established Healthcare Infrastructure in North America Bodes Well for Regional Market

On the basis of technology, the global molecular diagnostics market is segmented into PCR and real-time PCR, hybridization, microarray, transcription-mediated amplification, next-generation sequencing, and others such as mass spectrometry. Of these, the PCR and real-time PCR technology segment is anticipated to show a significant progress during the forecast years. This segment is projected to expand at a CAGR of 11.1% between 2016 and 2025. The extensive usage of this technology is expected to play significant role in its growth.

On the basis of geography, the global molecular diagnostics market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these, North America is estimated to account for a share of 39.6% in the overall market by the end of 2025. This segment is likely to thrive due to the changing demographics, high prevalence of cancer, evolving lifestyles, and well-established healthcare infrastructure.

Investments in Research and Development Ensure Uptake of Molecular Diagnostic Kits

The global molecular diagnostic market is anticipated to be driven by the growing investments in research and development of biomarkers. The increasing uptake of biomarkers for diagnosis and prognosis as well as prediction and assessment of ongoing has augmented the demand for molecular diagnostics. Several kits designed for molecular diagnostics allow safe, quick, and accurate detection of infectious diseases such as HIV and hepatitis. Thus, the growing interest of big companies in expanding their business through developing biomarker solutions is expected to benefit the overall market.

The continuous evolution in the field of molecular biology has changed the way diseases are being diagnosed and treated. The new methods have the ability to detect bacteria, viruses, and genetic variations in less time in with absolute precision. Thus, the upgrades in technology, which have significantly customized health care have boosted the demand for molecular diagnostics in recent years. Analysts also predict that the wide range of technologies for diagnosis of diseases will give the global market a shot in the arm during the forecast period.

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Poor Awareness and Low FDA Approvals to Restrain Market Growth

The long lead time for FDA approvals for molecular diagnostics is severely restraining the growth of the global market. Molecular diagnostics haven’t had a clinical impact on medical practice as was predicted earlier as delays in approvals have created potential hurdles. The market is also being hampered due to the poor reimbursement policies. The low awareness and lack of clarity pertaining to the diagnostic techniques used for detecting various injections and chronic conditions is a key challenge to the growth of the overall market.

This review is based on Transparency Market Research, titled “Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017-2025.”

Molecular Diagnostics Market: Business Challenges, Emerging Technologies & Competitive Landscape

The global molecular diagnostics market features a highly consolidated vendor landscape, with the top three players, namely F. Hoffmann-La Roche Ltd., Abbott Laboratories, and Danaher Corporation, representing over 54% of the overall market. The dominance of these players can be attributed to their broad product portfolio, finds Transparency Market Research (TMR) in a study. “Several players are going the mergers and acquisitions routes to stay ahead of the curve. For instance, Danaher acquired Cepheid in 2016 which is poised to the operational efficiencies and expand their diagnostic units,” says TMR’s lead analyst.
Well-established Healthcare Infrastructure behind North America’s Dominance
The valuation of the global US$7.10 bn in 2016 and is estimated to reach US$18.98 bn by 2024, exhibiting a CAGR of 11.6% from 2017 to 2025. On the basis of end user, diagnostic laboratories will continue to dominate the market until 2025, accounting for 38.5% of the overall market value. The availability of well-equipped and sophisticated instruments in diagnostic labs make them a preferred choice for diagnosis. The segment is expected to register a strong growth during the forecast period.
This 164 page report gives readers a comprehensive overview of the molecular diagnostics market. Browse through 30 data tables and 76 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/molecular-diagnostics-industry.html
Geographically, North America will continue to be at the forefront of growth until 2025. Changing demographics, growing incidence of cancer, and well-established healthcare infrastructure are contributing to the dominance of the region. Asia Pacific is anticipated to post a noteworthy CAGR of 12.2% during the same period, owing to the improving healthcare infrastructure and the increasing acceptance of technologically advanced products.
Growing Incidence of Cancer and Infectious Diseases Boosts Demand for Molecular Diagnostics
Governments worldwide are allocating significant budgets to the healthcare sector, which in turn influences diagnostics healthcare. For instance, in 2015, the overall share of the U.S. economy devoted to health care spending was 17.8%. Therefore, the increasing government funding is augmenting the global molecular diagnostics market. Moreover, the growing inclination towards personalized medicines is translating into the greater uptake of molecular diagnostics worldwide.
Another important factor stoking the global market is the rising prevalence of infectious diseases and cancer. “Expanding base of patients suffering from cancer is creating a soaring need for efficient and target-specific medicines, which in turn is triggering the demand for personalized medicines,” says a TMR analyst. The trailblazing researches in the field of biomarkers are also working in favor of the market. Furthermore, continuous advancements in technology, growing global geriatric population, and improving consumer expending power on healthcare are providing a fillip to the market.
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Complex Regulatory Framework Inhibits Growth Prospects
The complex regulatory scenario is leading to delays in the introduction of new treatments and also makes them expensive, which in turn is negatively impacting the growth of the global molecular diagnostics market. “Insurance companies are refraining from reimbursing molecular diagnostic tests due to lack of appropriate coding system,” says an analyst. This is leading to unfavorable reimbursement scenario, thereby negatively impacting the growth of the market. Moreover, the lack of awareness and ambiguities related to molecular diagnostics are adversely affecting the growth of the market.
The above data has been derived from a report by TMR, titled “Molecular Diagnostics Market (Technology - PCR and Real-Time PCR, Hybridization, Microarray, Transcription-mediated Amplification, and Next-Generation Sequencing; Application - Infectious Diseases, Oncology, Blood Screening, Microbiology, Genetic Testing, and Women’s Health; End User: Hospitals, Diagnostic Laboratories, Blood Banks, Academics, and Research) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”

Molecular Diagnostics: Recent Trends and Future Perspectives

Molecular diagnostics is a technique utilized for monitoring and diagnosing diseases, detecting risks, and deciding the best therapies for patients. Molecular diagnostics is amongst the most rapidly growing segments of the in vitro diagnostics industry. The increasing occurrence of hospital-acquired infections and the increasingly unhealthy lifestyles of people within Europe are fuelling the development of the market for molecular diagnostics in this region.

Furthermore, a number of technological advancements within the field of molecular techniques, proteomics, and nanotechnology are also stimulating the growth of the market for molecular diagnostics within Europe. In addition, the rising acceptance of and awareness about personalized and companion medicines are also fuelling the Europe molecular diagnostics market. On the other hand, the rising reimbursement policy issues are amongst the prime factors impeding the growth of the market in Europe.

Polymerase Chain Reaction Held a Share of 40.1% in 2014

In terms of technology, the Europe molecular diagnostics market is segmented into polymerase chain reaction, mass spectrometry, hybridization (ISH and FISH), transcription mediated amplification (TMA), biochips and microfluidics, next-generation sequencing, and others including proteomic and nanotechnology. Amongst these, in 2014, the segment of polymerase chain reaction led the Europe molecular diagnostics market with a share of 40.1% owing to the cost-effectiveness of this technique in the amplification of copying of tiny segments of RNA or DNA. On the other hand, the segment of next-generation sequencing is poised to be the most swiftly developing segment in the coming years owing to its advantages such as speed, flexibility, and high throughput.

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Oncology Emerged as the Largest Application Area in 2015

On the basis of application, the molecular diagnostics market in Europe is segmented into infectious disease testing, oncology, genomics, women’s health, blood screening, prenatal and newborn screening, and microbiology. Amongst these, in 2014, the segment of infectious disease testing led the market with a share of 30.6% due to the rising occurrence of various chronic infectious diseases such as HIV, tuberculosis, and hepatitis, and others in Europe. On the other hand, the segment of oncology is predicted to rise at the swiftest CAGR from 2015 to 2025 due to the increasing occurrence of cancer within Europe.

Western Europe Molecular Diagnostics Market Held the Largest Share of 47.1% in 2014

In terms of geography, the Europe molecular diagnostics market is segmented into Eastern Europe, Northern Europe, Western Europe, Southern Europe, and Rest of Europe. Amongst these, in 2014, Western Europe dominated the molecular diagnostics market in Europe with a share of 47.1% owing to factors such as the rising count of government initiatives and the increasing occurrence of infectious disorders. Furthermore, the increasing preference of the population to affordable molecular diagnostics tests is also stimulating the growth of the Western Europe molecular diagnostics market. On the other hand, Eastern Europe is poised to be the most promising market in the coming years and is predicted to rise at the greatest growth rate between 2015 and 2023. The rising disposable incomes of people and the increasing healthcare awareness amongst people will boost the Eastern Europe molecular diagnostics market.

The prime players dominant in the market are Hologic, Inc., QIAGEN N.V., Cepheid, Inc., Alere. Inc., Siemens AG, BioMerieux, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., and Bio-Rad Laboratories, among others.

Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

The widening scope of applications of molecular diagnostics will create a US$8.7 bn market by the end of 2019, finds a latest study by Transparency Market Research (TMR). The market intelligence firm, in its report, titled ‘Molecular Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the global molecular diagnostics market had a valuation of US$4.3 bn as of 2012. With several factors boosting both awareness of and demand for molecular diagnostics, the market will register a CAGR of 11.1% through the forecast period of the report.

Browse Full Molecular Diagnostics Market (PCR, Next Generation Sequencing, Microarray, Infectious diseases, Genetic disease, Oncology testing, Blood donor screening) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 Research Report With Full TOC @ http://www.transparencymarketresearch.com/molecular-diagnostics-industry.html

An uptick in the prevalence of cancer across the world will aid the adoption of molecular diagnostic methods, fuelling the growth of the market for molecular diagnostics. Besides this key factor, an expanding aging population base worldwide calls for the use of various diagnostic techniques in order to treat different diseases and medical conditions. Personalized medicine is emerging as a major trend in the pharmaceutical industry, and this factor will also contribute to the growth of the global molecular diagnostics market. However, the reimbursement scenario in many countries is currently not favorable to the growth of the molecular diagnostics market.

The report identifies two key opportunities: Technological innovation in molecular diagnostics to attain a higher share of the market and tapping unmet needs in the diagnostics market in emerging countries.For the purpose of this study, the global molecular diagnostics market is segmented on the basis of the following criteria: Diagnostic technology, applications, and geography.

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By technology, the market is segmented into transcription mediated amplification (TMA), polymerase chain reaction (PCR), hybridization (FISH and ISH), microarray, and next-generation sequencing. The demand for next generation sequencing is growing rapidly thanks to the high sensitivity of these tests and their rapid turnaround time coupled with a decline in the prices of next generation sequencing technologies. Although the PCR market stood as the largest in 2012 in the global molecular diagnostics market by technology type, it will decline gradually over the report’s forecast period.

On the basis of applications, the molecular diagnostics market studies infectious disease, genomics, blood donor screening, and others. According to TMR’s report, about 50% of all revenue of the molecular diagnostics market comes from the infectious disease segment. This segment is also poised for healthy growth in the coming years thanks to an alarming increase in the incidence of hospital acquired infections (HAI). This will also boost the growth of the HAI testing market, making it the fastest growing segment in the market for molecular diagnostics for infectious disease. The report pegs the CAGR of the HAI testing market at 15.1% between 2013 and 2019.

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