Molecular Diagnostics Market to Witness an Outstanding Growth by 2026

Molecular diagnostics is a method of analyzing and identifying the biological markers in the genome and proteome in order to identify gene expression by applying molecular biology. Molecular diagnostics are used to diagnose disease and risk involved. Molecular Diagnostics helps to decide the therapies are suitable for individual patients. The new advanced technologies has qualified the instruments in providing accurate results. This ability of the diagnostic tool resulted in increased rate of acceptance of the molecular diagnostics. The concept of personalized medicine has emerged out of molecular diagnostics.

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The factors driving molecular diagnostic market are increase in demand for care facilities, favorable regulatory policies which aims at promoting the care diagnosis, acceptance of personalized medicine, development in biomarkers, advancements in proteomics, increasing awareness of the diagnostic procedures. However rising cost of molecular diagnostics, obligation of skilled labors to handle the complexity of instruments are the factors restraining the growth of molecular diagnostics market.

The awareness of diagnosis is giving rise to the trend of self-care management. The early diagnosis of disease or disorder helps the patient in getting better treatment and cure. Infectious disease and Oncology is estimated to be the fastest growing application owing to the increased prevalence of cancer and demand for early diagnosis. The introduction to specific biomarkers for the treatment has a positive impact over the molecular diagnosis market. However maximum use of reagents is estimated owing to their accurate results. Commonly used reagents are salts, formamide, sodium dodecyl sulfate and dextran sulphate heparin. Growing awareness about the prenatal genetic testing for early detection of chromosomal abnormalities during pregnancy has enhanced the use of molecular diagnostics.

Depending on geographic regions, the Global Molecular Diagnostics market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. North America is estimated to be the largest player in molecular diagnostic market owing to the technological advancements and innovations, increase in R&D investments by large pharmaceutical and biotechnological industries and demand for early diagnosis. Asia Pacific is estimated in rising molecular diagnostic market due to increase in the prevalence of diseases such as cardiovascular diseases, infectious diseases and large population suffering from diabetes.

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Some of the key players identified in the molecular diagnostic market are Abbott laboratories, Becton Dickinson, Novartis, Roche Diagnostics, Johnson and Johnson, Bio-Rad Laboratories, bioMerieux, Danaher Corporation, Qiagen N.V, Siemens Healthcare, Cepheid, Hologic, Inc,.

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