Molecular Diagnostic Market

Molecular diagnostics uses techniques such as nucleic acid amplification and hybridization for identification of microorganisms and presence of virulence factors. Various molecular assays have been developed using various technologies. These technologies increased the accuracy of the tests, producing rapid results.

The molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests in Europe is anticipated to grow at a significant rate during the forecast period due to increasing incidence of Streptococcus pyogenes infection in Europe, advancements in technology, and rising demand for point-of-care testing. The average annual incidence of GAS invasive disease has been estimated to be 2.45 per 100,000 population in developed countries. The incidence of the disease has increased at a steady rate in most countries. Advancements in nucleic acid testing technologies and their adoption in Europe would result in high growth of the market. Recent developments in the field of nucleic acid testing have led to a shift of technology from laboratory to point-of-care testing. Some of the factors restraining the market are ineffectiveness and slow adoption rate, lack of facilities, and regulatory challenges. Future technology enhancements is the major opportunity in the nucleic acid tests market.

Polymerase chain reaction is an established amplification technique for nucleic acid (NA) tests for group A streptococcus (GAS). Recently the techniques like Non-Amplified Tests such as Nucleic acid probes is getting popular due to its high specificity, and there is no risk of contamination in the sample. Isothermal nucleic acid amplification technique is being rapidly adopted due to its high adoptability over other test methods. Loop mediated amplification technique is a type of isothermal nucleic acid amplification technique that is used in identification of group A streptococcus by nucleic acid tests.

The molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests in Europe has been estimated based on type of tests, end-user, and geography. Based on type of test, the market has been segmented into polymerase chain reaction, non-amplified tests, and isothermal nucleic acid amplification technology. The polymerase chain reaction segment held the largest share of the market in 2014. The segment is likely to continue to dominate the market during the forecast period. The isothermal nucleic acid amplification technology segment is estimated to record fastest growth during the forecast period due to rising need for accurate and rapid results.

Based on end-user, Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Product market has been segmented into hospitals, public health laboratories, and others. The hospitals segment held the largest share of the market in 2014. The segment is likely to continue to dominate the market during the forecast period.

Geographically, the molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests has been categorized into five regions: Western Europe, Northern Europe, Southern Europe, Eastern Europe, and Rest of Europe. Western Europe held the largest share of the GAS nucleic acid tests market in 2014, followed by Northern Europe. The market in the Northern region is expected to expand at a high CAGR during the forecast period. Low market revenue and growth in Eastern Europe and Rest of Europe is due to low adoption of nucleic acid tests.

Alere, Inc., Meridian Bioscience, Inc., Nanosphere, Inc., Hologic, Inc., and F. Hoffmann-La Roche Ltd. are the major players operating in the molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests in Europe. F. Hoffmann-La Roche Ltd. is the leading player in the market.

Rise in COVID-19 Testing Initiatives to Accelerate the Growth Prospects of the Molecular Diagnostics Market

Molecular diagnostics has emerged as a feasible technique or method for faster disease diagnosis coupled with fewer complexities. The rising prevalence of diverse infectious diseases at a rapid rate is also a prominent reason for the increase in the demand for molecular diagnostics. Thus, all these aspects will help the molecular diagnostics market to gain a considerable growth-share during the assessment period of 2015-2023.

• Molecular diagnostics is referred to as an umbrella term for techniques used for analyzing biological markers in a wide number of ailments. The molecular diagnostic tests are used for providing critical information to healthcare professionals and help them to take suitable medical decisions. These functionalities will help in expanding the growth prospects of the molecular diagnostics market.
• The growing geriatric population is a good growth indicator for the molecular diagnostics market. The geriatric population is more vulnerable to chronic diseases which rapidly increase the demand for molecular diagnostic tests. These aspects bring tremendous growth opportunities for the molecular diagnostics market. The ongoing research and development activities to facilitate convenient and advanced testing methods will also bring good growth opportunities.
• The novel coronavirus pandemic has wreaked havoc around the globe. The rising transmission and spread of the virus have led to massive positive rates and fatalities. To control the spread, rapid testing and quick diagnosis are the keys for breaking the chain of the virus transmission. Molecular diagnostics play a crucial role in COVID-19 testing. This aspect will have a positive impact on the growth of the molecular diagnostics market.
• The growing number of testing initiatives undertaken by the government bodies of numerous countries to control the spread of COVID-19 will bring good growth opportunities for the molecular diagnostics market. In addition, the rising advancements in the COVID-19 testing methods will further help in enhancing the growth rate.