Global Molecular Diagnostics Market to hit $7 billion by 2011, says New Report
Piribo, the online destination for business intelligence for the biotech and pharmaceutical industry, has added a new report analysing the global molecular diagnostics market.
“Global Molecular Diagnostics Market: Opportunities & Future Forecast” reports that based on its exceptional ability to accurately detect the primary cause of disease, molecular diagnostics has emerged as the fastest growing segment of the in vitro diagnostics (IVD) industry.
Growing with a Compound Annual Growth Rate (CAGR) of 19 per cent, global molecular diagnostics market is expected to reach $7 billion by 2011. The infectious disease was having the biggest market share of 70 per cent but gradually its share will decline to 50 percent. The future growth is expected to come from Oncology Testing, Genetic Testing and Pharmacogenomics Testing.
The authors note that geographically, the US and European markets are the most advanced in terms of adoption of molecular testing and make up the majority of the existing market. However they also note that Indian molecular diagnostics market is also catching up fast and future growth is expected from these markets when US and European market will mature.
The report shows that the key players in this market are dominated by big companies such as Roche Diagnostics, Gen-Probe, Siemens Healthcare Diagnostics Inc. and Abbott Laboratories which are active in every segment of the clinical diagnostics market.
“Global Molecular Diagnostics Market: Opportunities & Future Forecast” is available from Piribo. For more information go to:
Piribo product ID: RNR00004
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