Molecular Diagnostics Market Nears $7 Billion, Says Report
ROCKVILLE, Md., Feb. 21, 2017 /PRNewswire/ -- The market for molecular diagnostic testing reached $6.7 billion, according to Kalorama Information in a newly released report. The market is driven by the increasing threat of infectious disease and cancer and the development of new products. Kalorama Information is a New York City-based publisher of healthcare market research information. The firm recently published its seventh edition of its study on molecular diagnostics, The World Market for Molecular Diagnostics, 7th Edition.
The primary technologies for clinical molecular diagnostics include nucleic acid amplification tests (NAATs) based on real-time PCR (qPCR) and other amplification-detection protocols; direct nucleic acid probe tests such as in situ hybridization (ISH) and its fluorescent ISH (FISH); next-generation sequencing (NGS); amplification followed by probe-based hybridization on arrays (or microarrays); and other related methods. The report says that future of the molecular diagnostics market lies with nucleic acid amplification tests and sequencing-based tests. Time to results for real-time PCR and isothermal amplification are crucial for several infectious disease testing applications including respiratory testing, hospital-acquired infections, bloodstream infections, and molecular point-of-care tests. Superior sensitivity and non-invasive sampling will make qPCR and next-generation sequencing the future methods of choice for cancer testing and prenatal screening. Despite competitive displacement in cytogenetics, new cancer tests and blood culture tests, in situ hybridization will retain application markets in cancer testing and comprise 47% of the total molecular diagnostics market for cancer in 2021.
"Growth is in infectious disease," said Bruce Carlson, Publisher of Kalorama Information. "Accuracy, speed make these technologies ideal for meeting what is a growing threat. There are other areas such as tissue typing which are exceeding the overall IVD market. Specific disease markets are plotted out in this report and given a market size and forecast."
Indeed, Kalorama believes Infectious disease is projected to account for 60% of the global molecular diagnostics in the next five years. The market segment is defined by test decentralization with the introduction of NAAT platforms able to be operated in hospital labs and near-patient points of care such as physician office labs (POLs) and outpatient clinics. Integrated design from sample preparation to results analysis and user friendly features are just as appealing to larger clinical labs to free up personnel. Menu expansion on integrated analyzers has been the predominant focus of competitors in molecular infectious disease diagnostics. Market share and client retention depend on the ability of one platform to perform all routine infectious disease tests.
Kalorama's report, The World Market for Molecular Diagnostics, 7th Edition, contains detailed breakouts of several segments including market sizing, forecasts and detailed company profiles.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Related reports can be found and purchased at https://www.kaloramainformation.com/diagnostics-market-c1125/.
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Press Contact:
Bruce Carlson
212 807 2262
[email protected]
SOURCE Kalorama Information
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