Press "Enter" to skip to content

Molecular Diagnostics Market Rises at 7.1% CAGR, Government Support to be Key Growth Driver, and Reports Overview with Forecast 2019-2025

The rising incidence of infectious diseases is fueling demand in the Global Molecular Diagnostics Market. Fortune Business Insights (FBI) has published a report, titled “Molecular Diagnostics Market Size, Share and Global Trend by Product Type (Instruments Reagents & Consumables), Application (Infectious Disease, Blood Screening, Histology & Oncology), Technique (Hospitals Amplification, Hybridization & Sequencing Techniques), End User (Hospitals, Clinical & Pathology Labs) and Geography Forecast till 2025”. According to the report, the global molecular diagnostics market is expected to reach a value of US$ 13,873.6 Mn by 2025 from US$ 8,012.7 Mn in 2017. The market is expected to rise at a CAGR of 7.1%, driven by rising microbial outbreaks.

Lucrative Reimbursement Policies to Support Growth Pathology Labs and Hospitals Segment

Among techniques available in the market, the report predicts the demand for sequencing techniques to rise at a higher rate. The demand for amplification techniques is also expected to rise during the forecast period. This is because amplification techniques are used for the detection of micro-organisms, quantification and genotyping and their demand is more as compared to the other segments

Request Sample Copy @https://www.fortunebusinessinsights.com/industry-reports/molecular-diagnostics-market-100086

Among products available in the molecular diagnostic market, the report predicts the demand for reagent and consumables to rise at a higher rate. Similarly, on the basis of end user, the clinical and pathology labs and hospitals segments are expected to show higher demand for molecular diagnostics. Growth in these segments is attributable to lucrative reimbursement policies offered by governments around the world.

Increasing Incidence of Hospital-Acquired Infections to Fuel Demand for Molecular Diagnostics

According to 2019 report by World Health Organization, the average rate of infections acquired from hospitals in Europe is 7.1% and that in the U.S. is 4.5% respectively. This is indicative of the increasing incidence of hospital acquired infections. This, coupled with rising prevalence of infectious diseases, is boosting the market for molecular diagnostics. Besides this, advanced molecular diagnostic techniques facilitate the diagnosis of infectious diseases as they provide accurate and prompt results. This factor will further drive the market in the long run.

On the flipside, stringent rules of approval for molecular diagnostic processes may hamper the market to an extent. Manufacturers often face uncertainties regarding the commercialization of their products because of the strict rules imposed by governments, which may adversely impact the global molecular diagnostics markets.

Furthermore, the absence of a strong framework for genomic and personalized medicine in mature markets such as in the U.S. is anticipated to create hindrances for the market. Despite a large population, the lack of well-defined regulatory guidelines and framework in the diagnostic sector may hamper the growth of the market for molecular diagnostics in emerging nations such as China and India .

Huge Investments by Major Players to Propel Growth

Increasing government funding for clinical studies in molecular diagnostics will propel growth in the molecular diagnostics market. This is aimed at curbing the incidence of microbial outbreaks. For instance, recent bacterial and viral outbreaks in the Middle East and Africa compelled several research institutions and governments organizations to conduct researches on molecular diagnostics. Such initiatives will also pave way for the advent of novel therapeutics in molecular diagnostics. For example, organizations such as Oracle Partners, Oracle Institutional Partners, and Schuler Family Foundation invested about US$ 19.5 million in diagnostics for developing and distributing infectious disease IVD tools and tests. Such investments will bode well for the molecular diagnostics market in the long run.

Some of the companies operating in the global molecular diagnostics market are Siemens Healthcare GmbH, BioMérieux SA., Novartis AG, Grifols, S.A., Hoffmann-La Roche Ltd., Danaher, Grifols, S.A., and Hologic Inc.

Browse Complete Report Details @https://www.fortunebusinessinsights.com/industry-reports/molecular-diagnostics-market-100086

About Us

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact us:

Fortune Business Insights Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

Mission News Theme by Compete Themes.