POC based molecular diagnostics market to witness remarkable proceeds over 2017-2024, product innovations to characterize the strategic landscape
Persistently being channelized by technological proliferation, molecular diagnostics market has, of late, been gaining rewarding proceeds from a plethora of healthcare applications including the like of blood screening, oncology testing, genetic testing, and infectious diseases testing domains. Recent advancements in molecular diagnostic approach have brought a paradigm shift in the overall business perspective from basic research activities to clinical reality, which undoubtedly, has widened the application scope of molecular diagnostics industry. Modern day high-resolution molecular cytogenic analysis can detect duplications or deletions of DNA in thousands of nucleotides at once, ensuring high accuracy and easy operative approach. In fact, health giants claim the diagnostic molecular pathology to emerge from a niche domain to a viable alternative against conventional medical approaches that have been reigning the industry so far. As per Global Market Insights, Inc., overall molecular diagnostics industry size is slated to exceed a revenue of USD 12 billion by 2024, with a projected CAGR of 8.4% over 2017-2024.
Germany Molecular Diagnostics Market, By Application, 2013 – 2024 (USD Million)
The sheer popularity of molecular diagnostics industry can be primarily attributed to the increasing occurrence of infectious diseases along with spreading public cognizance with regards to the pre-disease detection. According to some of the trusted reports, almost 80,000 new cases of HIV infections were found in India, in the year 2016. Furthermore, sudden outbreak of emerging infectious diseases like Ebola, influenza A (H7N9), MERS, has complimented molecular diagnostics market growth in terms of revenue streams and profitability.
Speaking of technology, real-time PCR based molecular diagnostics market is claimed to observe profound growth over the coming years. This particular molecular biology technique has been widely deployed across myriad clinical applications for accurate detection of the causative organism which in a way improves the diagnostic accuracy. Having garnered the reputation of procuring a major chunk of molecular diagnostics market share in 2016, POC based technique is claimed to be one of the growth remunerative spheres that would drive the industry trends in the coming years.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/434
Another crucial aspect that has indirectly made the stage lucrative for molecular diagnostics market is the growing challenge of meeting optimal patient care, amidst the backdrop of resource-limited settings. Conventional diagnostic approaches are too expensive to be effectuated in RLS, given the economic constraints. In the face of this crisis, clinicians and healthcare giants have been readily inclining toward cost-effective molecular diagnostics that rely less on operator training. In this regard, Myriad Genetics, the American molecular diagnostics industry giant has been on the roll since for a while now, with its consistent effort of expanding the business portfolio. With a lineage of nearly 12 exclusive molecular diagnostics products, the company is making profound inroads in advanced gene sequencing cancer therapy. As per the recent reports, the healthcare biggie is presently thriving on the cusp of two of its patent molecular diagnostic suites, EndoPredict tests, and GeneSight.
Some of the other companies witnessing a strong presence in global molecular diagnostics market include Abbott, Dickinson and Company, Alere, Becton, Biomerieux, Danaher Corporation, Bio-Rad Laboratories, GenMark Diagnostics, Johnson & Johnson, HTG Molecular Diagnostics, MDxHealth, and Novartis (Grifols). Amidst the intense share battle, experts claim product innovation to be one of the major growth rationales underlining the sustainability quotient for the market players. However, the current framework of an unclear regulatory landscape is deemed to be one of the major constraints somewhat hindering the molecular diagnostics market penetration across some of the geographies. Nonetheless, ongoing R&D investments to bring advanced molecular diagnostics techniques in the foreground in tandem with public as well as private organizations’ encouraging initiatives toward promoting molecular diagnosis are expected to act in favor of the industry proliferation in the coming years.
Author Name : Satarupa De
Gene editing market is slated to register a massive double-digit growth rate over the coming seven years. The rising number of biotechnology and pharmaceutical firms will provide heavy revenue generating opportunities for the gene editing industry players over the coming years. Moreover, increasing prevalence of cancer and genetic disorders will further enhance the scope of the gene editing market. According to Global Market Insights, Inc. “Global gene editing market size worth USD 2.17 billion in 2015, is estimated to witness a CAGR of 14% over the period of 2016-2024.”
The rapid technological advancements in healthcare industry will also build a profitable roadmap for the gene-editing industry. Precision medicine market, which is estimated to surpass a revenue of USD 85 billion by 2023, will also promote the gene-industry market trends. The government support and increasing investments in R&D to enhance the technological outlook will also boost the gene editing industry share notably over the coming timeframe. The pharmaceutical industry is also actively collaborating with the gene editing firms to implement the technology use in clinical development. In addition to this, the industry will gain wide acceptance on account of its benefits in the wellbeing of humans, animals, and plant ecosystems.
U.S. Gene Editing Market Size, by Application, 2013- 2024 (USD Million)
Gene editing industry finds a varied set of applications across areas such as oncology, muscular disorders, infectious disease, and hematology. Hematology led the application landscape with a revenue of USD 807 million in 2015. Rising prevalence of infectious diseases such as HIV will promote the gene editing industry size in infectious disease applications, with a revenue estimation of USD 2.5 billion by 2024. Moreover, oncology applications will also exhibit a decent growth rate over the coming seven years, with an annual CAGR of 16% over 2016-2024. The increasing number and types of cancer will primarily contribute towards the application growth.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/810
CRISPR/Cas9 is the most prominent technology implemented in the gene editing applications and has been the most buzzed topic among the researchers worldwide. The ability of CRISPR/Cas9 technology to enable multiple edits at once has made it a breakthrough in the gene editing technology landscape. Moreover, its simplicity, specificity, and speed will further promote the technology demand over the coming years. CRISPR technology based gene editing market is estimated to exceed a revenue of USD 3 billion by 2024. Other notable technologies deployed in the gene editing industry include TALENS, Mega nucleases, and Zinc Finger Nucleases (ZFNs).
The major end-users participating in the gene editing market include CROs (Contract Research Organizations), Biotech & Pharma companies, and Research Institutes. Biotech and Pharma dominated the end user landscape accounting for 58% of the overall market share in 2015. The growth can be attributed to increasing applications of gene editing in therapeutics and drug discovery. Moreover, enhancements in the field of genetic engineering will further expand the scope of gene editing market in biotech and pharma sector. CROs will also emerge as a prominent revenue generating sector due to increased outsourcing by the pharmaceutical companies for complex drug discovery.
Considering the global trends, US gene editing industry led the global landscape, with a revenue of USD 518 million in 2015. The trend is likely to continue with the rapid expansion of biotech and pharma industry coupled with the rising prevalence of diseases such as Alzheimer, cancer, and other infectious ailments. UK gene editing market is anticipated to surpass USD 744 million by 2024, driven by the growing geriatric population base and frequent occurrence of chronic ailments across Europe. Asia Pacific will also exhibit substantial growth over the coming years. Improving healthcare infrastructure, technological developments in the medical space, rising geriatric population base, and favorable government norms will stimulate the APAC market growth.
Lack of awareness about gene-editing may prove to be a roadblock for the market growth. However, the government support towards spreading awareness will undoubtedly improve the future business scenario. The emerging economies will gain a major traction of the industry players to expand the regional base. Key market participants include Agilent Technologies, AstraZeneca, Allele Biotech, Cellectis, Bio Rad, Editas Medicine, CRISPR Therapeutics, Lonza, GE Healthcare Dharmacon, Recombinetics, Inc., Qiagen, Thermo Fisher Scientific, and Sigma-Aldrich.
Author Name : Shikha Sinha