Increasing Molecular Level Understanding of Disease State & Metabolism Drives the Molecular Diagnostics Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Molecular Diagnostics markets. Global market for Molecular Diagnostics is projected to reach US$10.7 billion by 2020, driven by aging population, increasing prevalence of chronic and life-threatening diseases, growing need for better disease diagnostics, and advancements in proteomics and genomics.

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Molecular Diagnostics: A Global Strategic Business Report

San Jose, California (PRWEB) July 24, 2014

Follow us on LinkedIn – Molecular diagnosis represents a rapidly expanding sector in the in-vitro diagnostics market. Recent advances in DNA probes, biochips, specimen collection devices, new detection technologies, computers, and automation have enabled development of diagnostics high on sensitivity, versatility, and speed. In addition to disease diagnosis, molecular diagnostics are increasingly being embraced for its benefits in patient stratification, drug regimen selection, therapeutic monitoring, and toxicity management. Molecular diagnostics are also increasingly being developed for applications in pre-implantation screening, genetic testing, neurological testing, blood screening, organ transplant testing, food pathogen testing, paternity testing, forensic testing, cardiovascular disease testing, tissue typing testing, and oncology testing. Genetic testing enables identification of cancer and subsequently enables physicians to decide the most appropriate and specific treatment for patients. Genomic assays are likely to emerge as a major driving force in the market. Molecular diagnostics play an instrumental role in personalized medicine, which is set to revolutionize the healthcare industry. Given the rapid advancements in proteomics, metabolomics, genomics, and molecular biology, a personalized approach to medical care is gaining increased prominence.

With demand for molecular diagnostics largely reliant on the level of healthcare spending, increasing healthcare expenditure, especially in developing countries like China, bodes well for the market. Demand for molecular diagnostics and gene detection products is also determined by the volume of tests performed in clinical labs. Genomics and proteomics coupled with Nanobiotechnology and biochip, represent major technology drivers in the market. Additionally, the identification of new molecular biomarkers is facilitating the development of simple diagnostic tests that assay one or two biomarkers, as well as complex diagnostics comprising several biomarkers. These tests facilitate quicker and more precise diagnosis.

Latest advancements in DNA technology are revolutionizing the world of molecular genetics and genomic testing. Majority of recent developments are associated with electrochemical detection of DNA, next-generation sequencing, polymerase chain reaction (PCR)-based approaches, peptide nucleic acids (PNAs), biochips, fluorescent in situ hybridization (FISH), nanotechnology, as well as proteomic technologies. Further, the availability of high-resolution molecular cytogenetic analysis techniques is enabling researchers to identify duplications or deletions of DNA of thousands of nucleotides.

As stated by the new market research report on Molecular Diagnostics, the United States represents the largest market worldwide. Asia-Pacific and Latin America are forecast to fuel future growth in the market. Countries such as China, India, Singapore, and Brazil present wealth of opportunities encouraged by improving healthcare infrastructure, growing middle class population, high prevalence of chronic diseases, prospering economies, and increasing healthcare needs of aging population. Asia-Pacific ranks as the fastest growing market with a CAGR of 10.7% over the analysis period. Infectious Disease Testing represents the largest application market for molecular diagnostics worldwide.

Key players covered in the report include Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Cepheid, F. Hoffmann-La Roche Ltd., GE Healthcare, Grifols International, S.A., Hologic, Inc., QIAGEN N.V., Quest Diagnostics, Inc., Siemens AG, and Thermo Fisher Scientific among others.

The research report titled, “Molecular Diagnostics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America, and Rest of World. Application segments analyzed in the report include Infectious Disease Testing, Blood Screening, Cancer Screening and Others.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Molecular_Diagnostics_Market_Report.asp

About Global Industry Analysts, Inc.:

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends, while monitoring more than 126,000 companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
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  • Raghu Gopal
    Global Industry Analysts Inc
    +1 408-528-9966
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