Molecular Diagnostics market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of molecular diagnostics, followed by Europe and Asia Pacific.
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The global molecular diagnostics market is a structured market and is largely governed by prominent players such as
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As per Market Industry Reports (MIR) research findings, rise in prevalence of infectious diseases and various types of cancer are paving a way for innovative molecular diagnostics products and services to grow, providing new avenues for stakeholders across the globe.
Growth opportunities in the global molecular diagnostics market looks promising for the coming eight to ten years. High prevalence of infectious diseases and various types of cancers, increasing awareness and acceptance of personalized medicine and companion diagnostics, and growth in the biomarker identification market are some of the pivotal factors driving the growth of the global molecular diagnostics market.
Technological advancements have also played a key role in shaping the growth of the molecular diagnostics market. For instance, MinION, a portable and affordable sequencer by Nanopore Technologies provided to users in point-of-care facilities and small peripheral laboratories, is expected to boost market growth.
“Hospitals and clinics are facilitated with advanced molecular diagnostics tools for the diagnosis of the diseases accurately, thus helping patients to quickly start with required treatment. Along with it, major players are investing more on research and development of the molecular diagnostics with more advanced products and services,” said Kuldeep, Analyst, Healthcare at MIR.
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From a regional perspective, Asia-Pacific is expected to witness highest CAGR in the coming years due to rise in patient population suffering from diabetes, cardiovascular diseases, coronary thrombosis and cancer. Factors such as the rising focus of major players in emerging Asian countries and government support are driving the growth of the molecular diagnostics market in this region.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Global Molecular Diagnostics Market is Likely to Register a CAGR of 8.7% Between 2019 to 2030