market Research / Analysis Molecular Diagnostics Market by Product-converted

Molecular Diagnostics Market by Product & Services Region Global Analysis & Forecast By 2030
Market Industry Reports (MIR) has published a new report titled “Molecular Diagnostics
Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2019–2030.” According to the report the global molecular diagnostics market was
valued at over US$ 6 Bn in 2017 and is expected to grow at a double digit in the
forecasted period . The growth of this market can be attributed to the factors such as, growing
number of infectious diseases, hospital acquired infections and various other diseases.
Molecular diagnostics is a vital tool for the cost-effective, accurate, rapid, delivery of effective and
safe therapy for many diseases. Increasing cases of hospital acquired infections and (add more
drivers) have led to the growing need for molecular diagnostic in hospitals facilities. According to
Centers for Disease Control (CDC) in 2017, Hospitals Acquired Infections (HAI) accounted for
almost 1.7 million cases with 99,000 deaths every year in the U.S.
In market segmentation by manufacturers, the report covers the following companies-
1. Abbott Laboratories
2. Agilent Technologies, Inc.
3. Danaher Corporation
4. Becton, Dickinson and Company
5. Biomerieux SA
6. Hologic
7. F. Hoffmann-La Roche AG
8. Qaigen
9. Illumina, Inc.
10. Thermo Fisher Scientific (*Financial details might not be captured in case of privately-held
companies or for companies that do not report this information in )public domain
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Technology Advancements; Creating Newer Opportunities
Technological advancements in the field of molecular diagnostics are expected to drive the market
as they allow greater portability, accuracy, and cost-effectiveness. For instance, the introduction of
MinION, by Nanopore Technologies offers an affordable and portable sequencer, catering to the
users in point-of-care facilities and small peripheral laboratories, which is expected to boost the
growth of global molecular diagnostics market.
Companies are working on expanding their product portfolio to get a hold on the market
Vaarious key players are adopting strategies such as Mergers and Acquisitions (M&A) to increase
their market share. For instance, Hologic acquired Gen-Probe, to expand its product portfolio with
focus on various types of cancer’s diagnostics. Moreover, Cepheid launched GeneXpert Omni in
2015, which is the most portable molecular diagnostics system in the world.
Some of the major players in the molecular diagnostics market include Bio-Rad Laboratories, Inc.;
Bayer AG; Siemens Healthcare GmbH; Abbott; Alere, Inc.; Danaher; Dickinson and Company;