For detecting the disturbance between specific sequences in DNA or RNA, molecular diagnostics tests are used, which may be associated with disease. The other factors which lead to various diseases are disturbance between single nucleotide polymorphism, rearrangements, insertions, and others. Infectious diseases, virology, oncology and STDs are the diseases that are diagnosed by utilizing molecular diagnostic test.
Molecular diagnostics has the capacity of detecting specific disease which access in supplying accurate medicine to patients. On research and development of precision medicine various government economies are focused on diagnostic tests, which is estimated to drive the growth of the U.S., Europe, and Asia Pacific molecular diagnostics market over the forecast period.
The U.S., Europe, and Asia Pacific molecular diagnostics market is estimated to be valued at US$ 7,147 Mn in 2021 and is expected to witness a robust CAGR of 10.7% during the forecast period (2021-2028).
Market Dynamics
Increasing applications of biomarkers, new product launches by market players with increasing government initiatives, increasing demand for molecular diagnostic tests, and increasing adoption of inorganic growth strategies such as mergers, acquisitions, partnerships, and collaborations by key players operating in the market are the major factors that are expected to drive growth of the U.S., Europe, and Asia Pacific molecular diagnostics market.
The growth of molecular diagnostics market is expected to increase the research and development for identification of biomarkers which leads to new molecular diagnostic tests development. For instance, in February 2018, authorization to Banyan Biomarkers, Inc., a biotech company, was given by the U.S. FDA (Food and Drug Administration) for traumatic brain injury, for first diagnostic blood test.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 20 market data tables and 35 figures on "U.S., Europe, and Asia Pacific Molecular Diagnostics Market” – Country wide forecast to 2028
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