DALLAS, Oct. 21, 2014 (GLOBE NEWSWIRE) -- Global molecular diagnostics market will reach $7,956.9 million by 2018, growing at a CAGR of 9.7% during the forecast period (2013–2018) according this 2014 research report on the worldwide molecular diagnostics industry. The driving forces of the molecular diagnostics market include the rising incidences of infectious diseases, genetic disorders, cancer, and technological developments like portability of equipment. Within its technology segment, PCR had the largest share in 2013 of the total molecular diagnostics technology market, whereas the microarray sector will be the fastest growing segment by 2018. Complete report titled Molecular Diagnostics Market by Application (Infectious Disease, Oncology, Genetics, Microbiology), Technology (PCR, INAAT, DNA Sequencing), End User (Hospital, Laboratories), Product (Instruments, Reagent, Service, Software) - Global Forecasts to 2018 is available at
Reagents, as molecular diagnostics market products, occupy the largest market share and will also register the maximum growth rate in the forecasted period 2013-2018. These reagents include assays that detect and diagnose diseases and are also used as biomarkers that predict the biological properties of the potential drug compounds. Based on end users, hospitals was the largest segment in 2013, whereas reference laboratories will grow at the highest CAGR between 2013 and 2018. Reference laboratories carry out complex, specialized, and obscure tests. The government regulations to cut down healthcare costs will lead to the rise in the reference laboratories segment. Therefore, reference laboratories are estimated to grow at highest CAGR.
Regionally, North America accounted for the largest global molecular diagnostics market share in 2013 and is poised to grow at a high rate in the forecast period 2013 to 2018. The growth can be attributed to the rising infectious diseases, cancer prevalence, and genetic disorders that are further adding to the overall prevalence of chronic diseases. Europe was the second leading contributor to the molecular diagnostics market in 2013. However, the growth of this region is expected to be sluggish in the forecast period and is estimated to grow at a lower CAGR than North America, due to factors such as the uneven reimbursement policies and the European economic crisis.
Asia is the most promising region for molecular diagnostics industry in the coming five years. It is expected to grow at a higher CAGR than North America and Europe over the forecast period. The high population base and improved purchasing power of patients are the major drivers of this market. Moreover, the economic instability in the western countries enables companies to focus on the Asian region in order to meet their revenue targets.
Molecular diagnostics market companies profiled in this research report include Abbott Diagnostics, Inc., Beckman Coulter, Inc., Becton, Dickinson & Co., Biomérieux Business Overview, Cepheid, Inc., Gen-Probe, Inc. (Hologic, Inc.), Novartis AG, Qiagen, Roche Diagnostics and Siemens Healthcare. Order a copy of this research at http://www.reportsnreports.com/Purchase.aspx?name=288443 .
Molecular diagnostics (MDx) has emerged as one of the largest and fastest growing segments in the In vitro Diagnostic (IVD) industry. In the span of few years, molecular diagnostics has prospered from a non-existent market to a significant market. PCR tests such as the one from Roche for CT/NG and other tests such as HIV qualitative and HIV quantitative (viral load) are the key factors driving the expansion of the molecular diagnostics market. The private reference laboratories developed tests for infectious diseases and cancer mutations due to the rising incidences and the non-availability of FDA approved assays. The market began to expand due to the existence of different diagnostic kits for genetic diseases and the blood screening for various infectious diseases. The demand for molecular testing increased and the FDA approved molecular diagnostic tests for determining genetic variation responses against cancer drugs. As a result, molecular diagnostic testing is growing at a rapid rate due to the rising adoption of rapid and quick diagnosis.
From an insight perspective, this research report focuses on the qualitative data; market size, share, and growth of various segments and sub-segments; competitive landscape; and company profiles. The qualitative data covers various levels of industry analysis, such as market dynamics (drivers, restraints, opportunities, and threats) and technological trends, globally. It also focuses on the emerging and high-growth segments of the molecular diagnostics market and the initiatives of their respective governments.
The competitive landscape covers the growth strategies adopted by the industry players in the last three years. The company profiles comprises of the basic views on the key players in the molecular diagnostics market and their product portfolios, developments, and strategies adopted to maintain and increase their market share in the near future.
The above mentioned market research data, current market size, and forecast of the future trends will help the key players and new entrants to make necessary decisions regarding product offerings, geographic focus, change in strategic approach, R &D investments for innovations in products and technologies, and levels of output in order to remain successful.
Explore more in vitro diagnostics market reports as well as other reports on molecular diagnostics available with ReportsnReprots.com:
The Molecular Diagnostics Partnering Terms and Agreements report ( http://www.reportsnreports.com/reports/300707-molecular-diagnostics-partnering-terms-and-agreements.html ) provides a detailed understanding and analysis of how and why companies enter molecular diagnostics partnering deals. These deals tend to be multi-component, starting with collaborative R &D, and commercialization of outcomes. This report contains a comprehensive listing of all molecular diagnostics partnering deals announced since 2009 including financial terms where available including over 300 links to online deal records of actual molecular diagnostics partnering deals as disclosed by the deal parties. In addition, where available, records include contract documents as submitted to the Securities Exchange Commission by companies and their partners.
The 2014 Deep Research Report on Global and China Molecular Diagnostics Equipment Industry is a 231 pages market study profiling companies like Roche, Abbott, Gen-Probe, Danaher, Thermo Fisher, Siemens, Qiagen, BD, Biomerieux, Cepheid, GE, Hongshitech, Bioer, Tianlong, Daan Gene and Hangzhou Jingge. Complete report is available at http://www.reportsnreports.com/reports/296099-2014-deep-research-report-on-global-and-china-molecular-diagnostics-equipment-industry.html .
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