The Global Molecular
Diagnostics Market, by Product Type (Reagents & Kits and Instruments),
By Application (Oncology, Genetic Testing, Microbiology, STDs, Blood Screening,
Virology, Tissue Typing, Prenatal Diagnosis, and Others), By End User
(Hospitals, Diagnostic Laboratories, Academic and Research Labs, and Other) was
valued US$ 8,623.2 million in 2017 and is projected to exhibit a CAGR of 11.5%
over the forecast period (2017 - 2025).
New product launches by market
players coupled with rising government initiatives are major factors driving
growth of the global molecular diagnostics market over the forecast period.
Molecular diagnostic test are done for diagnosis and drug discovery &
development purpose. Molecular diagnostic test results are quick and accurate,
which has led to increasing demand for these. In order to cater to growing
demand for such tests, manufacturers are more focused on research &
development for new product launches. For instance, in February 2017,
AITbiotech Pte Ltd., a Singapore-based genomic service and molecular
diagnostics (MDx) company, exhibited its comprehensive range of abTES MDx
assays, including its newly launched Zika assays and the multiplex respiratory
panel, at MEDLAB 2017, the world’s largest laboratory exhibition and congress
in the Middle East. Furthermore, in October 2017, FDA approved Roche’s cobas
Zika, as first commercially-available donor screening test for Zika virus. In
October 2017, QIAGEN launched the custom solution for the molecular diagnostic
test, which accelerated adoption of molecular testing for life sciences and
molecular diagnostics companies. Moreover, governments of various countries are
focusing on initiatives, in order to develop novel techniques in precision
medicines. For instance, the U.S. government launched Precision Medicine
Initiative (PMI) in 2015, in order to increase awareness and focus on
advancements in the precision medicine field, which in turn is expected to
favor growth of the molecular diagnostics market.
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Browse 37 Market Data Tables and
35 Figures spread through 176 Pages and in-depth TOC on " Molecular
Diagnostics Market, by Product Type (Reagents & Kits and Instruments), By
Application (Oncology, Genetic Testing, Microbiology, STDs, Blood Screening,
Virology, Tissue Typing, Prenatal Diagnosis, and Others), By End User
(Hospitals, Diagnostic Laboratories, Academic and Research Labs, and Other) -
Global Forecast to 2025"
Furthermore, in March 2017,
Cepheid, Rutgers New Jersey Medical School and FIND announced a new version of
the Xpert MTB/RIF test, the Xpert MTB/RIF Ultra (Ultra), for the diagnosis of
TB and rifampicin resistance. In August 2017, Selfdiagnostics launched the STD
Multitest at MEDICA 2017. STD Multitest is the first and only rapid chlamydia
and gonorrhoea duplex disposable molecular test in the world. In July 2017,
Roche announced commercial availability of the cobas HIV-1/HIV-2 for use on the
automated cobas 6800/8800 Systems in countries accepting the CE mark. In July
2017, DiaSorin launched a new CE-IVD molecular diagnostic test, Iam CBFB-MYH11
(not available in the U.S.) for ultra-rapid identification of one of the most
common genetic causes of Acute Myeloid Leukemia (AML).Therefore, these
increasing product launches in molecular diagnostics is expected to foster
growth of the market in the near future.
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Key takeaways of the Molecular
Diagnostics Market:
The global molecular diagnostics
market is expected to expand at a CAGR of 11.5% during the forecast period
(2017–2025), owing to growth in biomarker identification and increasing
awareness and adoption of precision medicine
Reagents and kits segment holds a
major market share in product type, due to increasing awareness regarding early
disease diagnosis and early treatment
Virology segment holds the
largest revenue share among application segments, due rapid implementation of
diagnostic tests for new discovered viruses. For instance, In October 2017,
Hologic, Inc. received US FDA approval for the company’s Panther Fusion Paraflu
Assay used for detection and differentiate of Para-influenza viruses 1, 2, 3,
and 4.
Some of the major players operating
in global molecular diagnostics market are Abbott Laboratories, Hologic, Inc.,
Grifols, S.A., Qiagen N.V., F.Hoffmann-La Roche Ltd., Siemens Healthineers,
Becton, Dickinson and Company, and Beckmann Coulter, Inc.
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