Global molecular diagnostics market estimated to reach USD 9.33 billion by 2020
As per the report published by Markets and Markets, the global molecular diagnostics market is expected to reach USD 9.33 billion by 2020 by growing at a CAGR of 9.3%. Based on technologies, PCR technique is projected to account for the largest market share while microarrays are estimated to grow fastest. Similarly, based on diseases, the infectious disease segment is likely to capture the largest share of the global molecular diagnostics market in 2015, followed by the blood screening and oncology segments. The key factors driving the growth of the market include, rise in the number of cases of cancer, reforming level of cognizance about personalized medicine and companion diagnostics, advancement in techniques and availability of better diagnostic products and improved reimbursement plans. Expensive diagnostic tools, a lack of skilled professionals and a complex regulatory framework are the factors, which may limit the growth of the market. Roche Diagnostics, QIAGEN, Hologic, Grifols, Abbott Laboratories, Siemens Healthcare, Becton Dickinson and Company, Beckman Coulter, bioMérieux and Cepheid are the major global players of the market.
(Image Courtesy: Biospectrum)