Stairlifts Market: Foresees Skyrocketing Growth in the Coming Years Molecular Diagnostics Market

Molecular Diagnostics Market to See Incredible
Growth By 2026
Molecular diagnostics tests are used for detecting disturbance between specific sequences in
DNA or RNA, which may be associated with disease. The disturbance between a single
nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others factors lead to
various diseases. Disease that are diagnosed by using molecular diagnostic test includes
infectious diseases, oncology, virology, and STDs.
Molecular diagnostics are capable of detecting specific disease which helps in providing
precision medicine to patients. Government of various economies are focused on research and
development of precision medicine, which is expected to drive growth of the molecular
diagnostics market over the forecast period. For instance, in 2015, the U.S. government
launched Precision Medicine Initiative (PMI), to increase awareness regarding advancement in
the precision medicine field.
High prevalence of infectious disease and increasing incidences of cancer are expected to be the
major factor fueling growth of the market over forecast period. For instance, according to the
Centers for Disease Control and Prevention (CDC), in 2015, around 5,251 deaths were reported
due to influenza infection in the U.S. Furthermore, according to a National Cancer Institute,
2016, an estimated 16.8 million new cases of cancer were diagnosed in the U.S. with an
estimated 595,690 deaths from the disease. The number of people with cancer is expected to
rise to 19 million by 2024.
The molecular diagnostics market is estimated to be valued at US$8,623.2 Mn in 2017 and is
expected to witness a robust CAGR of 11.5% during the forecast period (2017-2025).
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