Molecular Diagnostics Market Is Expected To Reach US$ 12,358.6 Mn By 2025

Molecular Diagnostics Market Is Expected To Reach US$
12,358.6 Mn By 2025
The latest market report published by Credence Research, Inc. “Global Molecular
Diagnostics Market - Market Growth, Future Prospects, Competitive Analysis, 2017
- 2025,” the global molecular diagnostics market was valued at US$ 6,077.9 Mn in
2016, and is expected to reach US$ 12,358.6 Mn by 2025 expanding at a CAGR of
7.8 % from 2017 to 2025.
Market Insights
Molecular diagnostics has undergone tremendous technological advancement due
to the growing need for personalized medication, rapid diagnosis to determine
antibiotic regimen in order to prevent drug resistance and for the in-depth study of
pandemic diseases such as Cholera, Swine flu, Dengue and Hepatitis A.
Browse the full report Global Molecular Diagnostics Market - Growth, Future
Prospects, Competitive Analysis, 2017 – 2025
at https://www.credenceresearch.com/report/molecular-diagnostic-market
In 2016, the reagents and kits held the largest revenue share for the product
segment due to factors such as increasing number of clinics and laboratories
performing diagnosis, rising public awareness leading to early disease diagnosis and
treatment, and government initiatives to promote public health and welfare.
Instruments will be the fastest growing segment among the considered products
throughout the forecast period 2017-2025 as they are undergoing tremendous
modifications corresponding to specific requirements and inbuilt applications make
it easy for the skilled workforce to perform accurate diagnosis in lesser span of
time.

Infectious disease diagnostics is the leading the segment among the application
areas due to factors such as increasing number of infectious disease, and growing
demand for infectious disease diagnosis in tropical countries as the weather favors
the microbes and vectors transmitting such diseases. Oncology will be the fastest
growing segment in the application market through the forecast period 2017-2025,
majorly due to factors such as rising prevalence of cancer, increasing demand for
pharmacogenomics and technological advancement in the molecular diagnostic
devices. Polymerase chain reaction holds the largest market in the technology
segment for the base year 2016 due to factors such as its potential to detect rare
diseases, rising demand for personalized medication and pharmacogenomics, and
its potential in establishing the DNA sequence of patients, which will be helpful in
the prevention of several life threatening diseases. Microarray will be the fastest
growing technology segment throughout the forecast period 2017-2025 as it is
helpful in diagnosing different types of cancer on the basis of the genetic pattern
and increasing demand for toxicogenomics, which helps in determining the
antibiotics of choice in cases of multiple drug resistance.
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The global molecular diagnostics market is technologically driven and includes
major players such as Abbott Laboratories, Inc., Novartis AG, Alere, Inc., Siemens
Healthcare, Bayer AG, and F.Hoffman La Roche Ltd. etc. are few market leaders in
molecular diagnostic market and compete to augment their foothold in the
market.
Key Market Movements:
- Rising prevalence of patients suffering with critical illnesses requiring immediate
diagnosis
- Increase in the number of research and academic institutes utilizing diagnostic
reagents and instruments
- Technological advancement in the nature of diagnostic reagents and kits
providing better results
- Affordable reimbursement scenario

By Product
Reagents and Kits
Instruments
Services and Software
By Application
Infectious Diseases
Oncology
Next Generation Sequencing
DNA Sequencing
Microbiology
Others
By Technology
Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology
In situ Hybridization
Microarrays
Others
By Geography
North America
Europe
Asia Pacific
Middle East & Africa (MEA)
Latin America
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