DUBLIN--(BUSINESS WIRE)--Aug 23, 2018--The “Global Molecular Diagnostics Market - Segmented by Technology, Application, Product, End-Users and Geography - Growth, Trends and Forecasts (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The global molecular diagnostics market was estimated at around US$ 7 billion in 2017. The market is expected to register a CAGR of approximately 9% during the forecast period, 2018 to 2023.
North America accounted for the largest market, followed by Europe, in the molecular diagnostics market. Asia-Pacific was estimated to register approximately 15% CAGR through the forecast period, 2018-2023.
Point-of-Care Diagnostics Demand
Near-patient and POC tests, currently, exist for a number of pathogens, such as influenza, tuberculosis (TB), and other respiratory viruses, such as Chlamydia, gonorrhea, and group A Streptococcus (GAS). These include antigen tests (most commonly lateral-flow immunochromatographic membrane-based assays and nucleic acid tests.
The POC tests are widely accepted because many tests are portable, fast, fairly simple to use, and inexpensive. Along with other factors, such as large outbreaks of bacterial and viral epidemics in the world, the rapidly evolving technology is driving the molecular diagnostics market.
Notable Developments in the MarketSaudi Arabia announced the exemption of certain medications and medical equipment from the 5% VAT, which is scheduled to be implemented from January of 2018. Saudi Arabia is imposing VAT in coordination with other governments in the Gulf Cooperation Council as they seek new sources of revenue in a bid to close budget deficits caused by low oil prices. Abbott completed acquisition of Alere Inc. It is a global manufacturer of rapid point-of-care diagnostic tests. Agilent Technologies had acquired molecular and sample barcoding patent portfolios of Population Genetics Technologies.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key PlayersRoche Diagnostics Illumina Inc. Hologic Corporation Agilent Technologies/Dako Qiagen Myriad Genetics BD (Becton, Dickinson & Company) Abbott Laboratories Cepheid Inc. Genomic Health Inc.
10. Future of the Market
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Related Topics:Molecular Diagnostics
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY
SOURCE: Research and Markets
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PUB: 08/23/2018 08:24 AM/DISC: 08/23/2018 08:24 AM