Global Molecular Diagnostics Market Report: 2013 Edition
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.
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.
The report analyzes the global molecular diagnostics market on a global scale and its various segments and also provides detailed information regarding the key umbrella markets including the diagnostics and IVD industry. It further discusses the various industry trends, growth drivers and challenges faced by the respective industry. In addition to the market contention prevalent in the global molecular diagnostics market, major industry players including Roche Holdings, Abbott Laboratories, Hologic and Novartis AG are profiled herein.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.