Molecular Diagnostics Market (PCR, Next Generation Sequencing, Microarray, Infectious diseases, Genetic disease, Oncology testing, Blood donor screening) Expected to Reach USD 8.7 Billion Globally in 2019: Transparency Market Research
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The global molecular diagnostics market was valued at USD 4.3 billion in 2012 and is expected to grow at a CAGR of 11.1 % from 2013 to 2019, to reach an estimated value of USD 8.7 billion in 2019.Molecular diagnostics primarily refers to a class of diagnostic test that analyzes nucleic acids or proteins at a molecular level. This class of diagnostics is identified as rapidly evolving and fastest growing segment of in-vitro diagnostics industry. Moreover, it is also considered as the most attractive and well established market for clinical applications. Traditionally, usage of molecular diagnostics was limited due to requirement of highly skilled professionals and high cost of tests. But reduction in cost per sample analysis and labor cost, improvements in automation and introduction of advanced technologies has expanded the usage of molecular diagnostics in wide range of applications. The market for molecular diagnostics has expanded since 1990’s with the introduction of PCR test for HIV and Chlamydia Trachomatis / Neisseria Gonorrhoeae(CT/NG). It is estimated that in the U.S. over 600 laboratories and 200 independent laboratories perform molecular diagnostics test to simplify and accelerate the testing proces.
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