Molecular diagnosis is the blend of molecular biology techniques and knowledge of the molecular mechanisms of disease to diagnosis, prognostication, and treatment of diseases.
This concept is a combination of laboratory medicine, genomics knowledge, and technology in the field of molecular genetics, with important discoveries in the field of molecular genomic technologies.Molecular Diagnostics is helpful in treatment of:Infectious diseaseOncologyHuman leucocytes antigen typing (which investigates and predicts immune function)CoagulationPharma cogenomicsAccording to WHO 36.7 million people were living with HIV at the end of 2017, cancer caused 8.8 million deaths in 2015, and is expected to reach 10 million by 2026.
Also the number of people suffering from infectious diseases, such as gastrointestinal, respiratory, and STDs (sexually transmitted diseases) is also increasing.
Also, factors like increasing awareness and acceptance of personalized medicine and companion diagnostics will fuel the market growth.However, less availability of skilled labor to handle new and intricate platforms, Complex regulatory landscape due to the existence of different paths of approval and increased cost of molecular diagnostics tools will restrains the market growth.
The highest revenue-generating region is North America (comprising the U.S. and Canada) followed by Europe In 2017; Due to the rising prevalence of infectious diseases, availability of government funds, expansion of the applications of molecular diagnostics in genetic disorders and cancer screening, well-penetrated healthcare system, and favorable regulatory policies.Asia Pacific is projected to be the fastest-growing region in the Molecular Diagnostics market with CAGR of 10.3% during the forecast period due to improvement in healthcare facilities to treat the increasing patient population for infectious diseases and various types of cancer.
Key Highlights:Molecular Diagnostics market analysis and forecast, in terms of volume and value.Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Molecular Diagnostics market.Molecular Diagnostics market segmentation on the basis of product, technology, application and geography (country-wise) has been provided.Molecular Diagnostics market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of the study.Molecular Diagnostics market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Molecular Diagnostics market are also profiled.Research Methodology:The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market.