This study intends to unfurl the multiple facets of global molecular diagnostics market and thereby examine how the short-term growth of the market will unfold during the stipulated time span.
Rapidly Increasing Infectious Diseases to Fuel Growth of Molecular Diagnostics Market
Molecular diagnostics is the latest watch word in biological sciences and has revolutionized disease diagnosis and prognosis. Molecular diagnostics is a group of methods used to analyse biological markers in the genome and proteome, and how their cells express their genes as proteins, applying molecular biology to medical testing. Increasingly being used for detecting viruses that are difficult, and dangerous to culture like HIV, molecular diagnostics uses in vitro biological assays like PCR-ELISA or fluorescence in situ hybridization to identify a molecule, frequently in low concentrations, that is a marker of virus or risk in a sample taken from a patient. Growing need for detecting viruses which are low in number like HIV in antibody negative patients or CMV in transplanted organs is expected to drive the growth of molecular diagnostics market. It can also be used to distinguish antigenically similar viruses like HSV 1& 2 and allows determination of antiviral drug susceptibility. Rising demand for detection of infections when viable viruses cannot be obtained is likely to fuel molecular diagnostics market expansion.
Managing microbial outbreaks and diseases is a currently a significant concern worldwide. A considerable amount of resource engagement is boosting molecular diagnostics market in terms of technology, experience, and financial services, as well as a favourable climate for imitating research initiatives, particularly infectious diseases. In 2017, the application sector for infectious disorders held a market share of 60.0%. A UN research estimates that 727 million people worldwide will be 65 years of age or older in 2020. Additionally, by 2050, it is anticipated that there will be twice as many people aged 80 and older, or more than 1.5 billion people. Additionally, it is expected that increased awareness campaigns for infectious diseases launched by international organizations like the World Health Organization (WHO), World Bank, and others will inspire the talent pool to step forward to increase the use of such diagnostic technologies.
Researchers have been strongly encouraged to create quick and precise pathogen detection technologies for wide outbreaks of infectious diseases that are fatal and enic microorganisms. Culture-based methods are often thought of as the gold standard for pathogen detection. However, their use is somewhat constrained by the lengthy turnaround time required by overnight growing and pathogen separation. The creation and use of molecular diagnostic methods have revolutionized the detection and tracking of infectious diseases over the past few years, which will continue to uphold the growth of molecular diagnostics market.
Increasing Disease Prognosis and Therapeutic Response to Push Molecular Diagnostics Market Prospects
Over the forecast period, the instruments segment is anticipated to have a sizeable market share. The evaluation of the disease prognosis and therapeutic response, as well as the identification of minimal residual disease, all, depend heavily on molecular diagnostics. Due to improvements in chemistries and instrumentation, such as automation, integration, throughput, and the capacity to use the instrumentation in a random-access mode, molecular diagnostics has grown during the past ten years. Positive effects of COVID-19 on molecular diagnostics tools result from the US FDA's approval of numerous equipment for COVID-19 diagnosis during the epidemic. As an illustration, the FDA approved a modification in July 2020 to include the Promega Maxwell RSC 48 as a proper extraction tool for use with the CDC 2019-nCoV rRT-PCR Diagnostic Panel.
Additionally, Roche Diagnostics India launched the Cobas 8800 and Cobas 6800 instruments in July 2020 to support SARS CoV-2 diagnostic testing at the National Institute of Cholera and Enteric Diseases in Kolkata and Mumbai, respectively. The Cobas 6800/8800 systems from Roche offer faster turnaround times, increased flexibility, and test results in three and a half hours. High-performance liquid chromatography (HPLC), mass spectrometry (MS), nuclear magnetic resonance (NMR), real-time PCR, enzyme-linked immunosorbent assay (ELISA), radioimmunoassay (RIA), lateral flow devices, patient safety syringes, and point-of-care testing devices are a few of the sophisticated instruments used in molecular diagnostics market.
North America’s Molecular Diagnostics Market Surges Ahead on Account of the Increased Outbreak of Bacterial and Viral Epidemics
North America is the largest user of Molecular Diagnostics and is expected to grow fastest throughout the forecast period. Large outbreaks of bacterial and viral epidemics, rising point-of-care diagnostics demand, quickly advancing technology, and significant market players in the area are a few factors boosting the growth of molecular diagnostics market. The United States Centers for Disease Control and Prevention (CDC) employed a one-step PCR method to diagnose COVID-19 during the pandemic. RNA from the sample was isolated for the assay, and it was then added. Ite master mix contained forward and reversed primers, nuclease-free water, and the reaction mixture (reverse transcriptase, polymerase, nucleotides, magnesium, and other additives). For instance, according to the Centers for Disease Control and Prevention (CDC), antigen tests and nucleic acid amplification tests (NAATs) were employed in the United States as diagnostic procedures to find SARS-CoV-2 infection.
The field of molecular diagnostics has significantly altered how diseases are diagnosed, and allowing for quick identification. Moreover, the development of the healthcare system, and the rise in infectious diseases and cancer cases in the United States have all contributed to a trend shift away from conventional diagnostic techniques and toward molecular diagnostics. The high prevalence of chronic diseases across all age groups, particularly among the aging population, maybe a significant factor in Canada's demand for molecular diagnostic testing. In 2019, 44 percent of Canadians aged 20 and older had at least one of the ten most common chronic disorders, and the frequency of chronic diseases is increasing, according to data published by the Canadian government. The molecular diagnostics market here is expanding in the United States thanks to increased technological improvements, an increase in new participants, and a quick uptake of advanced molecular diagnostics.
Global Molecular Diagnostics Market: Competitive Landscape
The US Food and Drug Administration (FDA) awarded Emergency Use Authorization (EUA) to MatMaCorp. in January 2021 for the COVID-19 2SF RNAto detection of SARS-CoV-2 on the company's Solas 8 portable detection device. MatMaCorp. Develops comprehensive molecular diagnostic systems. On the other side, Reliance SARS-CoV-2/FluA/FluB RT-PCR and Reliance SARS-CoV-2 RT-PCR Assay Kits were given emergency use authorization (EUA) certification by the US Food and Drug Administration (FDA) in February 2021. In a single multiplex reaction, the multi-target Reliance SARS-CoV-2/FluA/FluB RT-PCR Assay Kit simultaneously detects and distinguishes SARS-CoV-2, influenza A, and influenza B.
A few of the players in the molecular diagnostics market include F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Hologic, Inc. (US), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories (US), bioMérieux SA (France), QIAGEN N.V. (Netherlands), DiaSorin S.p.a. (Italy), Myriad Genetics, Inc. (US), PerkinElmer, Inc. (US), Siemens Healthineers AG (Germany), Danaher Corporation (US), Illumina, Inc. (US), Becton, Dickinson and Company (US), Grifols, S.A. (Spain), Quidel Corporation (US), Exact Sciences Corporation (US), and Genetic Signatures (Australia).
Global Molecular Diagnostics Market is Segmented as Below:
By Product & Service
By Test Type
By End User
Key Elements Included In The Study: Global Molecular Diagnostics Market
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