Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The Molecular Diagnostics Devices And Equipment Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global molecular diagnostics devices and equipment market was valued at about $7.5 billion in 2018 and is expected to grow to $7.71 billion at a CAGR of 0.7% through 2022.
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The Molecular Diagnostic Devices And Equipment market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American Market is the largest market for Molecular Diagnostic Devices And Equipment and is expected to continue to do so during the forecast period
The growth in molecular diagnostic devices and equipment market is attributed to factors such as rapid rise in various bacterial and viral epidemics. The increase in the spread of diseases increases the demand for early and improved diagnostic methods. In order to improve the technology to enable early diagnosis of such diseases, Government and different organization's extend their financial support towards the major key players of the industry. For example, according to the reports from Centers for Disease Control and Prevention (CDC) US, as on March 2019, 72 Zika virus disease cases were reported in U.S state and 148 Zika virus disease cases reported in US Territories. Thus, the rise of such chronic diseases serves as a prime driver for the players in the industry to develop more accurate and sophisticated diagnostic devices and equipment's. Following the increase in demand of early diagnosis of Zika virus, Co-Diagnostics, Inc. in February 2019 launched its first multi-disease molecular diagnostic test for dengue, chikungunya and Zika .
The regulatory process involving approval of molecular diagnostic tests is often slow. The lack of clear definition coupled with constant changes in the regulations is a challenge for companies developing these kits. In the developing nations such as India and China lack of well-defined regulatory framework negatively impacts the market, irrespective of the presence of a large population.
In the US market, because of the changes in the rules and regulations, the products already in the market may also be required to go through Food and Drug Administration (FDA)'s pre-marketing approval process. For example, CLIA (Clinical Laboratory Improvement Amendments Act) in the US certifies the validity of a laboratory based tests but it does not regulate the clinical validity of molecular diagnostic tests. This means that it does not control whether these results are clinically correct. This argument puts a restraint to the industry and opens an argument that FDA should play a greater role in overseeing laboratories.
Scope of the Report:
Markets Covered: 1) By Product: Instruments, Reagents, Consumables 2) By End User: Diagnostic laboratories, Hospitals, Others( nursing home, blood banks, point of care) 3) By Technology: DNA(Deoxyribonucleic acid) sequencing, Polymerase chain reaction, Isothermal Nucleic Acid Amplification Technology, Transcription Mediated Amplification (TMA), In situ hybridization, Microarrays, Mass spectrometry, Others (southern blotting, northern blotting, electrophoresis) 4) By Application: Cancer, Pharmacogenomics, Genetic testing, Infectious disease, Prenatal, Neurological disease, Cardiovascular disease
Companies Mentioned: Roche Ltd, Hologic, QIAGEN, Abbott, Danaher Corporation
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, Molecular Diagnostics Devices And Equipment indicators comparison.
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https://www.marketinsightsreports.com/reports/05072013707/molecular-diagnostics-devices-and-equipment-global-market-report-2020-including-1-by-product-instruments-reagents-consumables-2-by-end-user-diagnostic-laboratories-hospitals-others-nursing-home-blood-banks-point-of-care-3-by-technology-dna-deoxyribonucleic-acid-sequencing-polymerase-chain-reaction-isothermal-nucleic-acid-amplification-technology-transcription-mediated-amplification-tma-in-situ-hybridization-microarrays-mass-spectrometry-others-southern-blotting-northern-blotting-electrophoresis-4-by-application-cancer-pharmacogenomics-genetic-testing-infectious-disease-prenatal-neurological-disease-cardiovascular-disease-covering-roche-ltd-hologic-qiagen-abbott-danaher-corporation?source=releasewire&Mode=07
Influence of the Molecular Diagnostics Devices And Equipment Market Report:
-Comprehensive assessment of all opportunities and risks in the Molecular Diagnostics Devices And Equipment market.
-The detailed study of business strategies for the growth of the Molecular Diagnostics Devices And Equipment market-leading players.
-Conclusive study about the growth plot of the Molecular Diagnostics Devices And Equipment market for forthcoming years.
-In-depth understanding of Molecular Diagnostics Devices And Equipment market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Molecular Diagnostics Devices And Equipment market.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Molecular Diagnostics Devices And Equipment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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