The molecular diagnostics market is estimated to grow at 9.3% CAGR to reach USD 9,333.8 million by 2020. However, increased cost of molecular diagnostics tools, dearth of skilled labor to handle new and complex platforms, and the complex regulatory framework are the major factors restraining the growth of the market. The infectious diseases segment will account for the largest share of the global molecular diagnostics market in 2015, followed by the blood screening and oncology segments. Molecular diagnostics market, by application, is classified into infectious diseases, oncology, genetics, blood screening, microbiology, and others (cardiovascular diseases, neurological diseases, DNA fingerprinting, tissue typing, and food pathogen detection testing). The market report provides a detailed overview of the major drivers, restraints, threats, opportunities, current market trends, and strategies impacting the market along with estimates and forecasts of revenue.
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The molecular diagnostics market is broadly segmented on the basis of technologies, applications, products & services, and end users. The major technologies studied in the report include PCR, INAAT, microarrays, hybridization, DNA sequencing and next-generation sequencing (NGS), and other technologies. In this report, the molecular diagnostics market is broadly segmented on the basis of technologies, applications, products & services, and end users. On the basis of technology, the market is segmented into PCR, INAAT, microarrays, hybridization, DNA sequencing and next-generation sequencing (NGS), and other technologies. Among these technologies, PCR is expected to command the largest share while microarrays is expected to grow at the highest rate. Among these technologies, PCR is expected to command the largest share in 2015 while microarrays are expected to grow at the highest CAGR during the forecast period.
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On the basis of products and services, the molecular diagnostics market is segmented into instruments, reagents, and services & software. On the other hand, newly launched, complex, and highly specialized tests are mostly offered only at a few large reference laboratories, owing to which the reference laboratories segment is expected to witness the highest growth rate during the forecast period. The reagents segment is expected to account for the largest share and highest CAGR of the molecular diagnostics market in 2015. Based on end users, the market is subsegmented into hospital & academic laboratories, reference laboratories, and others (blood banks, local public health laboratories, home health agencies, nursing homes, point-of-care settings, and self-testing). Factors such as high prevalence of infectious diseases and various types of cancer; increasing awareness and acceptance of personalized medicine & companion diagnostics; development of biomarkers; and advancements in molecular techniques, proteomics, and reformations in the reimbursement system are driving the growth of the market. As most diagnostic tests are carried out in-house, the hospital & academic laboratories segment is expected to dominate the market.
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