![]() ![]() Stuck in a neck-to-neck competition with other brands? Request a custom report on Molecular Diagnostics Market Increase in Adoption of Molecular Diagnostic Devices in Europe Driving Global MarketĬompanies in the Europe molecular diagnostics market are focusing on hospitals, diagnostic laboratories, academic & research institutes, and pharmaceutical & biotechnology companies to expand their business activities. ![]() Stakeholders in this market should increase marketing and awareness about molecular diagnostic tests to increase their acceptance among people in developing economies. Therefore, small and medium community medical practitioners in emerging economies such as China and India need to be educated about the availability of these tests, and how these can be used for the prevention and diagnosis of chronic diseases. Less awareness and ambiguity about diagnostic techniques for detecting various infectious & chronic diseases is a major factor limiting the penetration of tests, such as HIV tests, healthcare-acquired infection tests, and rapid molecular tests in the mycobacterium tuberculosis into the molecular diagnostics market. To understand how our report can bring a difference to your business strategy, Ask for a brochure Lack of Awareness about Molecular Diagnostic Tests Affecting Market Expansion The unprecedented demand for RT-PCR tests during the ongoing pandemic is propelling the market growth. The segment is likely to witness strong growth during the forecast period, as the PCR technique is a cost-effective way of copying or amplification of small segments of DNA or RNA. The PCR & real-time PCR segment accounted for a leading revenue share of the global market in 2020. In order to keep the economies running amid the ongoing COVID-19 outbreak, companies in the global molecular diagnostics market are increasing R&D in PCR ( Polymerase Chain Reaction) & real-time PCR, hybridization, microarray, transcription-mediated amplification, next-generation sequencing, etc. ![]() Request a sample to get extensive insights into the Molecular Diagnostics Market Unprecedented Demand for RT-PCR Test During COVID-19 Pandemic Propelling Market Growth Moreover, improving purchasing power, consumer awareness about health issues, and better disease management are expected to boost the growth of the global market for molecular diagnostics in the Asia Pacific. Other factors such as the large geriatric population and the rise in demand for personalized medicines are expected to augment the market in North America.Įmerging markets in Asia Pacific hold immense growth potential due to initiatives taken by governments to promote healthcare and robust economic growth. A surge in the incidence of cancer and unhealthy lifestyle leading to severe infectious diseases are fueling the growth of the molecular diagnostics market in the region. North America is the leading market for molecular diagnostics due to the rise in investments by governments in support of molecular diagnostic tests. The region's dominance can be attributed to the increase in diagnostic facilities and the emergence of new players in the region. North America dominated the global market for molecular diagnostics in 2020, followed by Europe. North America and Asia Pacific Witnessing Change in Molecular Diagnostics Alternatively, the strong growth of molecular diagnostics in Germany can be attributed to the government’s focus on healthcare investments, enhancing the biotechnology sector, and increasing the number of biotechnology companies in the country. Hence, companies in the molecular diagnostics market should increase R&D to enable early detection of diseases and invest in marketing of tests to increase awareness about its advantages for early disease diagnosis. However, in many cases, it has been found that late diagnosis of any disease results in rise in the cost of treatment. The global molecular diagnostics industry is expected to reach the value of US$ 37.19 Bn by the end of 2028Īnalysts’ Viewpoint on Global Market ScenarioĮven though elective procedures have been postponed indefinitely during the ongoing COVID-19 outbreak, healthcare facilities are ensuring continuity in services for key sectors such as blood screening and detection of infectious diseases, among others.It is estimated to expand at a CAGR of 11.1% from 2021 to 2028.The global market was valued at US$ 14.99 Mn in 2020.Molecular Diagnostics Market Outlook 2028 ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |