Grand View Research has announced the addition of "Global Molecular Diagnostics Market Analysis And Segment Forecasts To 2020" Market Research report to their Database
City, State, Country., June 10, 2014 - (PressReleasePoint) -Browse here for Request Sample: http://www.grandviewresearch.com/industry-analysis/commercial-seeds-market/request
The global market for molecular diagnostics is expected to reach USD 8,020.1 million by 2020, according to a new study by Grand View Research, Inc. Growing demand for personalized medicine and theranostics, and the subsequent introduction of advanced cancer diagnostic technologies are expected to be key factors driving market growth over the next six years. Moreover, the growing global base of geriatric population and chronic diseases such as cancer, coupled with disease triggering lifestyle habits such as smoking and excessive alcohol consumption will positively impact market growth.
Molecular diagnostic reagent products dominated the overall market, accounting for over 50% of global revenue in 2013. Reagent market revenue is expected to reach USD 4,739.9 million by 2020, growing at a CAGR of 9.9% from 2014 to 2020. High consumption rates of molecular diagnostic reagents and the growing number of research and development initiatives pertaining to the field of molecular diagnostics are two key drivers of this product segment. The point of care end-use market for molecular diagnostics is expected to be the fastest growing product segment, at an estimated CAGR of 13.3% from 2014 to 2020, on account of factors such as the growing demand for point of care diagnostic procedures as an effective diagnostic tool rendering rapid and accurate results and the introduction of government initiatives such as CLIA (Clinical Laboratory Improvement Amendments) waived tests.
The report “Molecular Diagnostics Market Analysis By Product (Instruments, Reagents), By Technology (PCR, In Situ Hybridization, Chips & Microarrays, Mass Spectrometry, Sequencing), By Application (Oncology, Pharmacogenomics, Infectious Disease, Genetic Testing, Neurological Disease, Cardiovascular Disease) And Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/molecular-diagnostics-market
Further key findings from the study suggest:
• North America dominated the overall market in terms of revenue share in 2013 at 44.6%. The presence of sophisticated healthcare infrastructure, encouraging government initiatives and high patient awareness levels are some of the drivers of this market. In addition, the presence of enhanced R&D activities in the U.S. pertaining to advanced diagnostic technologies attributes to its large market share.
• The Asia Pacific molecular diagnostics market is expected to grow at the fastest rate of 12.7% from 2014 to 2020. High unmet medical needs in disease segments such as cancer, diabetes and cardiovascular diseases and the introduction of healthcare reforms in emerging markets such as India and China are some of the factors driving regional market growth.
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