Arizona News Online

Molecular Diagnostics Market Is Projected To Register A Healthy CAGR Of 9% From 2016 To 2024 | Hexa Research

 Breaking News
  • No posts were found

Molecular Diagnostics Market Is Projected To Register A Healthy CAGR Of 9% From 2016 To 2024 | Hexa Research

October 11
12:05 2018

Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future
Research Report on Molecular Diagnostics Market Size, Share, Trends, Growth, Challenges, Competitor Analysis, Overview – 2024

11 October 2018

The molecular diagnostics market was valued at over USD 6.40 billion in 2015. It is likely to grow at a CAGR of around 9% during the forecast period (2016-2024).

Increasing prevalence of infectious diseases, cancer, genetic disorders, and other contagious disease are likely to drive the molecular diagnostics industry. Hospital acquired infections and other communicable infections are expected to boost market growth in the coming eight years. Moreover prenatal genetic testing is also expected to increase the adoption of this diagnostics.

Unhealthy lifestyle can further contribute to large number of people getting afflicted with chronic ailments like cardiovascular disorders and diabetes. This with further propel market growth in the coming years. Molecular diagnostics market is divided into products, technologies, applications, test location, and regions.

On the basis of products, the market is split into instruments, reagents, and others. Reagents segment held the largest share in 2015 with revenues exceeding USD 3.5 billion. It is expected to grow at a CAGR surpasing 12%. Instruments segment is expected to show a significant growth in the coming years.

Browse Details of Report @ https://www.hexaresearch.com/research-report/molecular-diagnostics-industry

Technologies consist of polymerase chain reaction (PCR), in-situ hybridization, chips and microarrays, mass spectrometery, DNA sequencing, transportation mediated amplification, and others. PCR held the largest market share of over USD 2.5 billion in 2015. Growth of this segment can be attributed to its high incorporation among the researchers and healthcare professionals. DNA sequencing is likely to show a growth of about 16% CAGR in the coming years.

Applications encompass oncology, pharmacogenomics, infectious diseases, genetic testing, neurological diseases, cardiovascular diseases, and others. Infectious diseases segment was the largest application holding market share exceeding 45% in 2015.

Oncology segment is anticipated to show a CAGR of about 13% till 2024. Rising awareness among people regarding early cancer diagnosis is the key aspect propelling market growth of the segment.

Test location comprises of point of care (PoC), self test or over the counter (OTC), and central laboratories. Central laboratories dominated the market with over 60% shares in 2015. The growth of the central laboratories can be attributed to their large prominence in underdeveloped countries, rising awareness about early detection of diseases, and high procedure volumes.

The key global players of the molecular diagnostics market include Siemens Healthcare GmbH, Novartis AG (Grifols), F. Hoffmann-La Roche Limited, and Johnson & Johnson.

Browse Related Reports:
Circulating Tumor Cells Market: The global circulating tumor cells market is primarily fueled by high incidence of cancer and other lifestyle diseases, growing global population, and technological developments.
Genomics in Cancer Care Market: The global genomics in cancer care Market is projected to expand at a CAGR over 17.3% during the forecast period (2016 to 2024).

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

More Information Visit @ www.hexaresearch.com

Media Contact
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: Send Email
Phone: +1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California 95018
Country: United States
Website: www.hexaresearch.com/research-report/molecular-diagnostics-industry

Categories