DataM releases Research Report On Molecular Diagnostics Market

NEW YORK - Dec. 11, 2018 - PRLog -- Molecular Diagnostics Industry

The molecular diagnostic is the technique for identifying alterations in DNA or RNA sequence, associated with any medical condition. The molecular diagnostic is techniques used to analyze biological markers in an individual's genetic code and to analyze how their cells express their genes as proteins.

Among the technology, the polymerase chain reaction (PCR) is the most widely used method for DNA amplification for detection and identification of infectious diseases, genetic disorders, and other research purposes. The large share of this segment is attributed to the growing use of PCR in proteomics and genomics, automation of PCR instruments, and the emergence of advanced technologies like qRT-PCR. PCR can be used for the diagnosis of various diseases such as sickle cell anemia, malaria, cancer, inherited diseases and other bacterial & infectious diseases and sheds light on variants of PCR.

Among all the molecular diagnostics technologies, PCR is one of the most developed molecular techniques which has a wide range of applications in the field of medicine, broad-spectrum pathogen detection and evaluation of emerging novel infections, surveillance. Also, PCR-based methods are cost-effective relative to other molecular diagnostic technologies.

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Rising Incidences of Infectious Disease and Cancer - Market Trends and Opportunities

The increasing prevalence of infectious diseases and the rising incidences of cancer is expected to be among the major factors boosting the molecular diagnostic market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2015, around 5,251 deaths were reported due to influenza infection in the U.S. Furthermore, according to a National Cancer Institute, 2016, an estimated 16.8 million new cases of cancer were diagnosed in the U.S. with an estimated 595,690 deaths from the disease. The number of people with cancer is expected to rise to 19 million by 2024. Additionally, cancer is also a major cause molecular diagnostic market. For instance, according to cancer.gov, in 2018, an estimated 1,735,350 new cases of cancer were diagnosed in the U.S. and 609,640 people died from cancer. Major cancer in descending order is breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer. Breast cancer is the most common type of cancer and can occur both in men and women. However, it is mostly found among females and the male occurrence of breast cancer is very rare.

The other factors influencing the growth of molecular diagnostic marker are research and development for identification of biomarkers have led to the development of new molecular diagnostic tests. For instance, in February 2018, FDA granted marketing approval to Banyan Biomarkers, Inc. for the first diagnostic blood test.

However, stringent regulation by FDA to regulate molecular diagnostic tests is expected to be a major factor restraining the growth of the market. Framework regarding regulatory approval process is been one of the major setbacks for the molecular diagnostic market. Emerging countries, such as India and China, lack standard structured regulatory framework and guidelines on diagnostics, which certainly had a negative impact on the growing regional molecular diagnostic market irrespective of the presence of a large population. Regulatory uncertainties in the approval process of molecular diagnostics lead a low profiled profit scenario among the manufacturers.

Industry Competition - Product Launches, Mergers, and Acquisitions to play a major role in the molecular diagnostic market reach

Product Launch, Merger, and acquisition and technological advancement paving way for a robust increase in the global molecular diagnostic market. For instance, Abbott Laboratories in August 2016 launched  Alinity, a next-generation system, which is advanced in the segments such as immunoassay, clinical chemistry, point-of-care, hematology, blood and plasma screening, and molecular diagnostics. HTG Molecular Diagnostics, Inc. in 2017, is expected to launch the HTG EdgeSeq PATH Assay, which is used for retrospective gene expression profiling to complement traditional immunohistochemistry (IHC) testing in the second quarter. Alton Diagnostic, 2018, launched its new CE-IVD marked AltoStar Molecular Diagnostic Workflow, which automates the entire workflow from sample preparation to analysis. In 2016, Debiopharm Group acquired a majority holding in GenePOC, Inc., the Canadian developer of affordable, rapid molecular tests that identify infectious agents at the point-of-care.

Key companies operating in the global molecular diagnostic market are Hologic, Inc., Grifols, S.A., Abbott Laboratories, Qiagen N.V., F. Hoffmann-La Roche Ltd., Siemens Healthineers, Becton, Dickinson and Company, and Beckman Coulter, Inc., among others.

Related report Global In-Vitro Diagnostics Market – Size, Share and Forecasts (2018-2025) (https://www.datamintelligence.com/research-report/in_vitr...)