Title: Molecular Diagnostics Market revenue to reach $10bn by 2023
1Molecular Diagnostics Market Global Industry
Analysis Report, Share, Size, Growth, Price
Trends and Forecast, 2015 2022 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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2 Key Insights of Molecular Diagnostics Market
- Molecular diagnosis helps in timely detection of
severe infectious diseases, genetic diseases and
detection of cancer at an early stage.
Expenditure on healthcare products and its
awareness has been the reason for growing demand
in the industry. - As per the WHO (World Health Organization), an
increase in elderly population who are suffering
with common occurrences of infectious ailments is
anticipated to grow by 8 by the year 2050.
Furthermore, as per the reports by CDC (Centers
for Disease Control and Prevention, every year
roughly 19 million people are infected by STD
(sexually transmitted diseases) ranging in the
age group of 15 to 25 years of age. - In the year 2015, the Molecular diagnostics
market was conquered by STD (sexually transmitted
diseases) by generating revenue up to USD 1
billion, followed by HIV. The HPV market is
expected to grow over 9.8 CAGR in the coming
years. Hence the market is witnessing upsurge in
the number of clinical studies and research
conducted every year, which has eventually
accelerated the creation and demand for new
medicines.
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3 Continued
- The United States is projected to be the largest
market in the segment of the market which is also
foreseeing a grown of USD 402 billion by the
year 2023. Attributing factors are high awareness
levels amongst the patients, high research
development resulting in drug discovery and
healthcare infrastructure. - The molecular diagnostics market in Asia Pacific
region is expected to grow by 16 of global
revenue by 2023, followed by China India
displaying strong infrastructure and promotion of
preventive healthcare treatments. Malaysia is
probably coming up as a rewarding market in the
coming years in the field of modern molecular
diagnostic tools, planned for a CAGR growth over
11 in the coming years. - Molecular diagnostics market share of 40 was
acquired by Abbott Laboratories, Danaher
Corporation and Roche Diagnostics in the year
2015. Other active players in the market are
Bayer Healthcare, Novartis, and Siemens
Healthcare amongst others. Sedentary lifestyle,
decreased immunity levels and lack of awareness
gives rise to the patient base resulting in the
growth in the market. Methods of prevention of
epidemics and its medicines is the platform for
the economic growth of this market.
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