Comprehensive Analysis on Molecular Diagnostics Market: Key Players: Agilent Technologies, Danaher Corporation, bioMérieux, Alere Inc.

Sellbyville, DE -- (SBWire) -- 01/08/2019 --Global Molecular Diagnostics Market is set to exceed USD 12.5 billion by 2024; according to a new research report by Global Market Insights.

Technological advancements and consequent development of superior molecular diagnostic techniques for early and accurate diagnosis of chronic diseases will drive molecular diagnostics market growth over the forecast period. Consumers in developed economies are far more informed about the availability of these advanced technologies and plays crucial role in driving the demand. Moreover, the accessibility as well as awareness levels are also rising in developing regions that is expected to influence industry growth.

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The PCR technology is one of the most prominently used molecular techniques in pathology laboratories. In 2016, PCR technology covered a prominently huge chunk of molecular diagnostics industry share, owing to its increasing use in laboratories and clinics. Additionally, PCR-based diagnostics systems detect etiologic agents of diseases quickly from clinical samples, and amplified microbial DNA further allows PCR to rapidly analyze the characteristics of pathogens. Considering the massive effectiveness of PCR technology, some of the well-known players in molecular diagnostics market are continuously bringing about innovative advancements in traditional PCR technology.

For instance, after acquiring the rights of the polymerase chain reaction technology in 1991, scientists at Roche have been continuously bringing about improvements in the standardized PCR process to innovate an effective tool for all biological sciences. In the same year, Roche had developed RT-PCR using a single enzyme, to develop DNA strand from RNA to diagnose RNA viruses. The technology sparked quite an interest in molecular diagnostics market, enabling leading tech giants to exploit the prevalent business opportunities back then.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Agilent Technologies
2. bioMérieux
3. Novartis
4. Bio-Rad Laboratories
5. Alere Inc.
6. QIAGEN
7. Danaher Corporation
8. Analytik Jena AG
9. BD
10. Cepheid
11. Biocartis
12. Genomic Health
13. Myriad Genetics
14. Roche Diagnostics Middle East
15. Sysmex America, Inc.
16. BioFire Diagnostics, LLC
17. GenMark Diagnostics
18. Bio-Techne
19. CombiMatrix

Roche's research spree further spilled onto the new millennium, when in 2003, the firm launched COBAS® TaqMan® Analyzer for diagnosing hepatitis C virus, hepatitis B virus, and human immunodeficiency virus-1. This was the first PCR test that allowed detection and amplification, which has considerably lowered the risk of contamination by reducing human interaction. Four years later, in 2007, Roche developed a fully automated Real-Time PCR system that further decreased the time required for disease detection and diagnosis of diseases.

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Roche's efforts are remnant of the ongoing commitment of industry behemoths including Danaher Corporation, Abbott Molecular, Inc., Siemens Healthcare, BioMérieux, and Qiagen Gaithersburg toward innovation and quality improvement in diagnostic technologies, that is likely to propel molecular diagnostics market outlook in the ensuing years.

U.S molecular diagnostics market dominates the industry with USD 3.1 billion in 2017. Preference for precise and early detection of infectious and other chronic disease coupled with rising prevalence of such chronic diseases will augment the demand for molecular diagnostics tests. Well established presence of industry players conducting robust research and development will support industry growth.

Molecular Diagnostics Market, by Technology, 2013-2024, (USD Million)
o PCR
o In Situ Hybridization
o Chips and microarrays
o Mass spectrometry
o Sequencing
o Isothermal Amplification