Advances In Genomics And Proteomics Drive The Growth Of The Molecular Diagnostics Market

Molecular Diagnostics Market Report 2020

Molecular Diagnostics Market Global Report 2020

The Business Research Company’s Molecular Diagnostics Market Global Report 2020

LONDON, GREATER LONDON, UK, February 10, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

The advances in genomics and proteomics is key among molecular diagnostics market trends that are driving the growth of the molecular diagnostics market. Polymerase chain reaction (PCR) is a recent development in genomics and helps in discovering new approaches to molecular diagnosis for disease diagnosis and pathogenesis of diseases. This enables better monitoring and a fast diagnosis, and major organizations are investing to have a competitive edge. Following the trend, Genome Canada, a source of funding for genomics and proteomics, announced plans to invest $16 million between the period April 2015 and March 2017. The growing research in proteomics and genomics will help develop more advanced molecular diagnostic techniques in the forecast period.

The global molecular diagnostics market size is expected to grow at a compound annual growth rate of 8.82% and reach $12.09 billion by 2023. The molecular diagnostics market consists of sales of molecular diagnostics services and related products. Molecular diagnostics is a term used to describe a class of techniques that are used to examine biological markers in the genetic code (genome) of an organism and to determine how their cells express their genes as proteins.

The Business Research Company’s molecular diagnostics market research report is segmented by technology into polymerase chain reaction (PCR), DNA sequencing, next-generation sequencing. It is also segmented by product into instruments, reagents and consumables, software & services, by application into oncology, pharmacogenomics, infectious diseases, genetic testing, neurological disease, cardiovascular disease, microbiology, others and by end-user into hospitals, laboratories, others (blood banks, home health agencies, and nursing homes).

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