Recently Published BCC Research Report Projects the Global Molecular Diagnostics Market is Expected to Reach Nearly $36.5 Billion by 2018
Published: May 29, 2013
Wellesley, MA (PRWEB) May 28, 2013 -- In 2012, the global DNA diagnostics market was valued at more than $17.3 billion. The total market is projected to grow at a compound annual growth rate (CAGR) of 12.6% from 2013 through 2018 to reach nearly $36.5 billion by 2018.
Within the global DNA diagnostics market, the market for polymerase chain reaction-based diagnostic assays claimed the largest share in 2012 with an estimated $8.3 billion. The PCR diagnostics market is projected to grow at a five-year CAGR of 11.5% to reach $16.3 billion by 2018.
The fastest-growing segment of the DNA diagnostics market is the biochip/lab-on-a-chip (LOAC) market, which was valued at $1.7 billion in 2012. It is projected to increase at a CAGR of 17% to reach $4.6 billion by 2018. The market for microarray diagnostic assays was valued at $3.9 billion in 2012 and is projected to grow at a CAGR of 12.4% to reach $8.2 billion by 2018. The market for in situ hybridization diagnostic assays was valued at nearly $3.3 billion in 2012 and is projected to increase at a CAGR of 12.8% to reach nearly $7.1 billion by 2018.
Molecular diagnostics and molecular imaging for diagnostics have benefited greatly from research conducted since the completion of the Human Genome Project.
Biomarkers are playing increasingly important roles, and one disease area, cancer, is getting much attention in this regard. Technologies such as DNA microarrays are being used to analyze biological samples in molecular diagnostics to identify high-risk patients, predict response to therapy, and monitor patients during treatment to either determine effectiveness of treatment or detect recurrence of disease. Numerous companies are developing molecular oncology diagnostics tests.
Molecular screens for oncology applications will be one of the key drivers for the clinical use of diagnostics. Total demand for products in this area is projected to grow at a CAGR of 13.4% from 2013 to 2018. While microarrays are and will remain the top revenue contributors during the forecast period, the highest growth will be seen in the development and approval of novel biochips. Microarray revenues equaled $1.8 billion in 2012 and will grow by a CAGR of 13.2% to reach $4 billion in 2018. Biochips are projected to increase at a CAGR of 19.9% and reach $2.5 billion in 2018.
Molecular Diagnostics: Technologies and Global Markets (BIO063B) examines the global market for assays used to detect specific nucleic acid sequences in medical and life-sciences applications. While the goal of all DNA-based diagnostic assays is similar, several different technologies can be employed. BCC analyzes each technology in detail, determines major players and current market status, and presents forecasts of growth over the next five years. Scientific challenges and advances, including the latest trends, are emphasized. We examine government regulations, major collaborations, recent patents, and factors affecting the industry worldwide. In addition, we examine new directions for DNA diagnostic technologies and emerging applications in clinical diagnostics.
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