Global Molecular Diagnostics Market is likely to surpass US$ 22.5 Billion by the end of year 2025
According to the latest report by Renub Research, titled "Molecular Diagnostics Market Share & Global Forecast, By Application, Technology, End User, Regions, Companies" The molecular diagnostic is a combination of various techniques, which are used to determine the biological markers in the field of proteome and genome. Through molecular diagnostics genetic code of any individual and analysis of their cells is known as how they express genes as proteins by molecular biology to testing in medical science. Technologies which are used in molecular diagnostics are PCR, Transcription-Mediated Amplification (TMA), Hybridiazation (In-situ Hybridiazation & FISH), DNA Sequencing & NGS, and Microarray.
With the use of molecular diagnostics monitoring individual patients for disease, detecting risks and selecting best therapy which suits the patient are possible. Molecular diagnostics is also helpful in personalized medicine by detailed analysis of specific patients and disease from he or she is suffering from.
Some of the diseases which are detected through molecular diagnostics are Infectious Diseases, Blood Screening, Oncology, Genetic Testing, HLA (Tissue Typing), Microbiology, Cardiovascular Diseases, Neurological Diseases, and Pharmacogenomics. Awareness for disease diagnostics initiated by multiple organizations such as the World Health Organization and World Bank are encouraging patients to adopt molecular diagnostics to prevent diseases.
The Global Molecular Diagnostics Market is growing year on year, according to Renub Research analysis, this market is expected to surpass USD 22.5 Billion by the end of the year 2025. This growth for molecular diagnostics market is due to an increase in the number of cancer patients, development and innovation in medical science and heavy investment by healthcare companies in the field of molecular diagnostics. Other reasons are increasing per capita healthcare expenditure in developing and developed countries, the accuracy of molecular diagnostics, increasing popularity of personalized medicine, the rapid increase in the cases of a genetic disorder and growing population of neurological and cardiovascular patients.
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Market Insight by Application
The report provides comprehensive analysis of molecular diagnostic test market by application into ten parts: Infectious Diseases, Genetic Testing, Blood Screening, Oncology, HLA (Tissue Typing), Microbiology, Neurological Diseases, Pharmacogenomics, Cardiovascular Diseases, and Others. This report also provides key opportunities market and specific factors are given by each application market.
Market Insight by Technology
Here the market is fragmented into six parts; PCR, Transcription-Mediated Amplification (TMA), Hybridiazation (In-situ Hybridiazation & FISH), DNA Sequencing & NGS, Microarray and Others. Besides, many factors are analyzed that influence the growth, challenges and opportunities of market in technological context.
Market Insight by End User
The report provides complete insight of market by End User segments: Hospitals & Academic Laboratories, Clinics & Commercial Laboratories and Others. According to Renub Research Analysis, Hospitals & Academic Laboratories will hold the largest market in global molecular diagnostic test market in forecast period of time.
Market Insight by Regions
This report covers the complete regional profile by 10 geographical market; United States, Europe, India, China, Japan, Brazil, South Korea, Mexico, Russia and Rest of World (ROW).
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