Global Molecular Diagnostics Market worth $8.1 Billion by 2017

Monday 5 November 2012, Amsterdam

The new market research report “Molecular Diagnostics Market - Technologies (PCR, DNA Sequencing, Microarray, Spectroscopy), Applications (Virology/Infectious Diseases, Cancer/Oncology, Genetic Testing) - Global Opportunities, Competitor Analysis & Forecasts to 2017 ” analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World. This report studies the global molecular diagnostics market, with forecast to 2017.

Molecular diagnostics (MDx) is a new class of diagnostic tests that identify nucleic acids or proteins to test the status of a disease. These nucleic acids or proteins, which belong to individual patients or foreign organisms, help determine a specific therapy, or risk of developing a specific disease, or other health conditions. MDx is the fastest growing segment within the in-vitro diagnostic (IVD) space, driven by accuracy, high sensitivity, fast turnaround time, easy workflow, and cost-effective testing. Owing to these factors, the molecular diagnostics market crossed $4.8 billion in 2011, and is poised to grow at a CAGR of 9.1% in the next five years to reach $8.1 billion.

Molecular diagnostics has applications in infectious disease molecular testing, oncology, blood screening, genetic testing, DNA fingerprinting (e.g., paternity testing, forensic testing), microbiology, tissue typing, and food pathogen detection testing. The booming MDx areas are molecular tests for women’s health, oncology, and organ transplant testing.

Factors like increase in awareness and acceptance of personalized medicine, advancements in molecular techniques, and increasing investments in proteomics and genomics research will spur the molecular diagnostics market in the future. Yet, reimbursement issues for non-coded tests and complex regulatory framework will restrict the growth of this market.

Although the market for molecular diagnostics is fragmented with more than 500 companies, the most prominent players are Roche Diagnostics (Switzerland), Novartis (Switzerland), Gen-Probe (U.S.), Qiagen (The Netherlands), Abbott Diagnostics (U.S.), Becton Dickinson (U.S.) and Cepheid (U.S.), to name a few.