Molecular Diagnostics Market Worth $8,020.1 Million By 2020: Grand View Research, Inc.
SAN FRANCISCO, June 24, 2015 /PRNewswire/ —
The global molecular diagnostics market 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.
Browse full research report with TOC on “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” at:http://www.grandviewresearch.com/industry-analysis/molecular-diagnostics-market
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.
Further key findings from the study suggest:
Browse more reports of this category by Grand View Research:http://www.grandviewresearch.com/industry/biotechnology
For the purpose of this study, Grand View Research has segmented the Molecular Diagnostics market on the basis of product and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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