Human race has been persistently
involved in a never ending pursuit for discovery and innovation in every field
with a special inclination towards medical sciences. The perseverant efforts
have triggered swift evolution in the realm of diagnostic tools and techniques.
In-vitro diagnostic (IVD) tests are deployed for examining specimens including
blood and tissues extracted from human body chiefly in order to detect the
presence of concerning physiological/pathological state, or concerning
congenital abnormality. Under the IVD market falls the ‘Molecular Diagnostics’
sector which involves performing analysis at the molecular level, and thereby
measurement of DNA, RNA, proteins or metabolites to detect genotypes, mutations
or biochemical changes, or to test for specific states of health or disease.
Such diagnostic methods are capable of detecting viruses, bacteria, and
parasites at a fast pace with greater sensitivity and specificity.
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The molecular diagnostics procedures
for infectious diseases including HPV, CT/NG; and the deadly gene linked cancer
represent the largest market category in terms of revenue generation. Since the
realm of cancer detection and screening procedures is undergoing a major
change, the Oncology segment of the market is poised to undergo noteworthy
expansion in the near future thereby driving the molecular diagnostics market
on the holistic basis.
As of now, the global molecular
diagnostics market is characterized by growth in large value mergers and
acquisitions, personalized treatment in the field of Oncology and reimbursement
trend. While the global molecular diagnostics marketplace remains marred by
challenges like rising price pressures and growing regulatory hurdles; the
underlying growth drivers including the ever increasing demand for better
healthcare solutions, coupled with ageing world population, reimbursement,
increasing insurance density, growing demand for genetic testing and rising new
incidences of cancer, are taking the molecular diagnostics market to new
heights.
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