Molecular Diagnostics Market Size By Infectious Disease (Flu, Tuberculosis, Meningitis, RSV Virus, Hepatitis B, Hepatitis C, HPV, STD, HIV, Dengue, Gonorrhea, Chlamydia, TORCH, H. Pylori), By Technology (PCR, Real-Time PCR, DNA/RNA Purification), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Portugal, Italy, Russia, Denmark, Norway, Sweden, Israel, Japan, China, India, Sri Lanka, Pakistan, Philippines, South Korea, Australia, New Zealand, Vietnam, Thailand, Mexico, Brazil, Argentina, Colombia, Chile, Peru, South Africa, Nigeria, Morocco, Egypt, KSA, UAE, Jordan, Qatar), Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 - 2023
Published Date: May 2016 | 115 Pages | Report ID: GMI434 Report Format: PDF
Molecular Diagnostics Market size was over USD 5.4 billion in 2015, and expanding at 8.1% CAGR from 2016 to 2023.
Germany Molecular diagnostics market size, by technology, 2012-2023 (USD Million)
Increased geriatric population coupled with growing prevalence of infectious diseases should drive the global molecular diagnostics market size. According to CDC, more than 19 million new STD infections are registered each year.
Increased adoption of advanced technologies should create lucrative growth opportunities over the forecast period. Rising demand for point of care diagnostics (PoC) will accelerate business growth from 2016 to 2023. The NIH supports for development of low-cost imaging technologies will fuel point of care diagnostics market growth.
Advances in molecular biology, clinical chemistry and instrumentation have enabled automation, integration, and use of novel platforms to form basis for real time quantitative PCR as well as high-throughput sequencing. The variety of technologies used in molecular diagnostics market should spur business expansion. The healthcare trend is shifting towards more precise, safer and effective molecular biomarker assisted diagnosis for effective treatment.
Molecular Diagnostics Market, by Product
HPV is anticipated to witness 9.8% CAGR from 2016 to 2023. Increase in HPV prevalence will create lucrative growth opportunities to the industry players. According to CDC, more than 75 million people were infected with HPV in the U.S alone and over 14 million are infected each year.
STD held majority of molecular diagnostics market size, with revenue of over USD 1 billion in 2015. HIV and other STDs are anticipated to drive revenue growth owing to growing prevalence and improved disease diagnosis.
Molecular Diagnostics Market, by Technology
PCR technology was over 46% of the total industry share in 2015. However, the revenue share is anticipated to decline due to emergence of other technologies such as genetic sequencing and in-situ hybridization over the forecast period.
Advancements in proteomics and genomics have contributed to development of novel diagnostic approaches. Development of innovative diagnostic tests, greater patient and physician awareness, affordability and pairing of tests with new treatment methods is expected to accelerate growth. U.S. molecular diagnostics market size held majority of regional revenue share, and is projected to surpass USD 4.2 billion by 2023.
Molecular Diagnostics Market, by Region
Germany molecular diagnostics market size is expanding at 6.9% CAGR from 2016 to 2023. Increased adoption of advanced technologies coupled with rising healthcare expenditure should boost growth. APAC molecular diagnostic market size should witness highest growth of 10% from 2016 to 2023, due to increased prevalence of infectious diseases and hospital acquired infections. India and China molecular diagnostics industry should offer promising growth opportunities owing to improved healthcare infrastructure facilitating diagnostic testing and favourable policies promoting preventive healthcare treatments.
Malaysia market size was over USD 8 million in 2015 and anticipated to witness robust growth of 11.8% from 2016 to 2023 due to increasing prevalence of infectious diseases such as leptospirosis, diarrhoea, and dengue in this region. Africa molecular diagnostics industry size was more than USD 130 million in 2015 and anticipated to witness robust 9.5% CAGR from 2016 to 2023. Increasing prevalence of various infectious diseases and growing adoption of innovative technologies such as PoC diagnostic kits will fuel business growth.
Competitive Market Share
Key industry players include Abbott Laboratories, Alere, Becton Dickinson, Bayer Healthcare, Bio-Rad Laboratories, Dako, bioMerieux, Cepheid, Hologic (Gen Probe), Danaher Corporation, Novartis (Grifols), Siemens Healthcare, Roche Diagnostics, Johnson & Johnson, Qiagen, and Sysmex Corporation.
Majority of companies enter into strategic partnerships with biotech firms to provide novel diagnostic solutions. Global molecular diagnostics market size is driven by Abbott Laboratories, Roche, and Danaher Corporation. These companies accounted for more than 48% of the global share in 2015. Introduction of innovative, cost-efficient and user friendly products, and expansion of existing product portfolio through strategic partnerships are major strategies adopted by major industry players.
Molecular Diagnostics Industry Background
The major segments of molecular diagnostics (MDx) are HCV, HIV, Chlamydia Trachomatis (CT), and Neisseria (NG), whereas the emerging segments are HPV and MRSA. U.S. FDA regulates, and approves molecular diagnostics (MDx) for diagnosis and prevention of infectious diseases.
Health care policy makers aims to provide reimbursement for molecular diagnostic tests and educate healthcare regulators, providers, and patients through awareness programs.
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