Molecular diagnostics market expected to reach USD 11.54 billion by 2023 from USD 7.71 billion in 2018, at a CAGR of 8.4%. —
Growth can primarily be attributed to high prevalence of infectious diseases & various types of cancers, increasing awareness & acceptance of personalized medicine & companion diagnostics, growth in biomarker identification market, & advancements in molecular techniques.
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Molecular diagnostics market segmented into reagents & kits, instruments, & services & software. Reagents & kits segment expected to account for largest share of molecular diagnostics market in 2018. Large share of this segment can be attributed to availability of a wide range of reagents & kits, rising use of reagents & kits in different therapeutic areas (such as infectious diseases and oncology), increase in basic research & commercial applications, & easy accessibility to a wide range of reagents.
• Manufacturers and distributors of molecular diagnostic instruments and assays
• Hospital laboratories
• Academic institutes
• Research institutes
• Reference laboratories
• Diagnostics suppliers
• Blood banks
• Home health agencies
• Market research and consulting firms
• Regulatory bodies
• Venture capitalists
In this report, the molecular diagnostics market is segmented on the basis of product& service, application, technology, end user, and region. The study tracks and analyzes competitive developments such as product launches& approvals, acquisitions, collaborations, agreements, partnerships, and expansions, and core competencies in the molecular diagnostics market.
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Growth in molecular diagnostics market is primarily driven by the high prevalence of infectious diseases and various types of cancers, increasing awareness and acceptance of personalized medicine and companion diagnostics, growth in the biomarker identification market, and advancements in molecular techniques. Research analyzes micromarkets with respect to individual growth trends, prospects, and contributions to the global molecular diagnostics market.
2 Market Share Analysis
3 Molecular Diagnostics Market Competitive Share Analysis, By Application
4 Market Share Analysis for Infectious Disease Applications
5 Molecular Diagnostics Market Share Analysis, By Technology
6 Competitive Situation and Trends
7 New Product Launches and Approvals, 2016–2018
8 Agreements, Partnerships, and Collaborations, 2016–2018
Key players in global molecular diagnostics market are Roche (Switzerland), Hologic (US), QIAGEN (Netherlands), Abbott (US), and Danaher (US). These players focus on inorganic strategies such as acquisitions, partnerships, agreements, and collaborations and organic strategies such as expansions and product launches & approvals to sustain their positions in the molecular diagnostics market.
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Asia Pacific expected to register highest CAGR in molecular diagnostics market during forecast period. Market growth in Asia Pacific is attributed to growing GDPs and a significant rise in disposable income levels, increased healthcare spending by a larger population base, modernization of healthcare infrastructure, & rising penetration of cutting-edge clinical laboratory technologies.
Objectives of the Study
• To define, describe, and segment the global molecular diagnostics (MDx) market, by product and service, technology, application, end user, and region
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market players
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
• To profile the key players in the market and comprehensively analyze their market positions and core competencies
• To track and analyze competitive developments such as acquisitions, product launches and approvals, expansions, and other developments in the molecular diagnostics market.
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