The term molecular diagnostics refers to the branch of the clinical pathology or the laboratory medicine that uses the several molecular biology techniques to the diagnose diseases, select treatments, monitor and examine the effectiveness and efficiency of the therapies, predict diseases course and several others. These tests are functioned majorly to monitor the availability of the diseases in the blood, bones or even in blood. The prominence of the nucleic acids and other cellular biomarkers in describing the vigorous cellular procedure has simplifiedthe medical developments in the diagnoses of the several diseases. According to the prediction of the American Cancer Society, around 1,688,780 new cancer cases were diagnosed, and 600,920 people deceased owing to the cancer in 2017. According to the examination by World Health Organization (WHO), in 2017 nearly 14 million new cancer cases were diagnosed and is anticipated to increase by about 70% over the next 2 decades. Whereas, the early diagnosis of the disease is one of the key recompenses of this technology. The potential of the molecular diagnostics to schematize the molecular reactions for the significant developments of the clinical diagnosis has put healthcare in the front line.

According to the report analysis, ‘Molecular Diagnostics Market (US-specific Market Assessment) - Global Forecast upto 2024’ states that there are several key players which are presently functioning in this sector more actively for leading the fastest market growth and dominating the handsome value of market share across the globe more positively in the short span of time while increasing the acceptance of point-of-care testing and rising prevalence of the infectious and several other lifestyle diseases includes F. Hoffmann-La Roche, Hologic, Inc., Danaher Corporation, Abbott Laboratories, and Siemens Healthineers Inc. are the key players in the market. Becton Dickenson and Company, bioMerieux S.A., Bio-Rad Laboratories, Inc., Qiagen NV, Grifols, S.A, Thermo Fisher Scientific, Sysmex Corporation, and Myriad Genetics.

The global molecular diagnostics market is predictable to observe a handsome CAGR of 8.7% during the forecast period of 2018-2024.Whereas, based on the region the market of molecular diagnostics is sectored into different regions which majorly involves North America, Europe, Asia Pacific, and Rest of the World (ROW). However, the significant increase in the incidences of disease and organ transplantation in the US along with growing funding by government& private players and augmented adoption of personalized medicine in clinical practices are few of the aspects fueling the US molecular diagnostics market growth. The US engaged a dominant market share that is 32% in 2017, and is anticipated to increase at an effective CAGR of 8.4% during the forecast period of 2018-2024.

Additionally, significant growth in the number of mergers & acquisitions and rising the significance of companion diagnostics are delivering the opportunities for the market growth. Low awareness about standardization, rigorous regulatory approval process, and shortage of experienced labors are hindering the market growth. However, the market for molecular diagnostics is effectively fueled by the growing pervasiveness of infectious and other lifestyle diseases, rising ultimatum for the non-invasive biomarker-based tests, increasing acceptance of the point-of-care testing, and extraordinary growth of the market in emerging countries. Therefore, in the coming years, it is anticipated that the market of molecular diagnostics will increase across the globe more positively over the recent few years.

For more information on the research report, refer to below link:

https://www.kenresearch.com/healthcare/diagnostics/molecular-diagnostics-market/173292-91.html

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