Molecular diagnostics market set to increase at a CAGR of 9.1%

The molecular diagnostics market is anticipated to increase at a compound annual growth rate (CAGR) of 9.1% over the next five years, rising from a valuation of $4.8 billion in 2011, to be worth a market value of $8.1 billion by 2017.

Molecular diagnostics are a new class of diagnostic tests that identify nucleic acids or proteins to test the status of a disease. These nucleic acids or proteins, which belong to individual patients or foreign organisms, help determine a specific therapy, or risk of developing a specific disease, or other health conditions.

Key factors set to drive growth within the molecular diagnostics market include the increase in awareness and acceptance of personalised medicine, advancements in molecular techniques, and the increase in investments in proteomics and genomics research.

The big dog of the molecular diagnostics market is infectious disease testing, which makes up about 60% of overall molecular diagnostic market revenues. Companies offering molecular products in this sector are developing and marketing test kits and supplies to support testing for human immunodeficiency virus (HIV), human papilloma virus (HPV), hepatitis B and C (HBV/HCV), and CT/NG.

Just as consolidation and acquisitions reshaped the in vitro diagnostics (IVD) manufacturing industry and concentrated market share among just a handful of multi-billion dollar IVD giants, a similar consolidation can be seen in the molecular diagnostics sector. Today it is estimated that just nine global companies control 75% of the molecular diagnostics market.

The most prominent players within the molecular diagnostics market include Roche Diagnostics (Switzerland), Novartis (Switzerland), Gen-Probe (US), Qiagen (The Netherlands), Abbott Diagnostics (US), Becton Dickinson (US) and Cepheid (US).

For more information on the molecular diagnostics market, see the latest research: Molecular Diagnostics Market

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