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Molecular Diagnostic Market to Surge at a CAGR of 11.6% from 2015 to 2023

Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products market was valued at US$ 8.3 Mn in 2014 which is projected to expand at a CAGR of 11.6% from 2015 to 2023 to reach US$ 22.3 Mn in 2023.

, 15 March 2019 -- Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products market was valued at US$ 8.3 Mn in 2014 which is projected to expand at a CAGR of 11.6% from 2015 to 2023 to reach US$ 22.3 Mn in 2023.

Molecular diagnostics uses techniques such as nucleic acid amplification and hybridization for identification of microorganisms and presence of virulence factors. Various molecular assays have been developed using various technologies. These technologies increased the accuracy of the tests, producing rapid results.

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The molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests in Europe is anticipated to grow at a significant rate during the forecast period due to increasing incidence of Streptococcus pyogenes infection in Europe, advancements in technology, and rising demand for point-of-care testing. The average annual incidence of GAS invasive disease has been estimated to be 2.45 per 100,000 population in developed countries. The incidence of the disease has increased at a steady rate in most countries. Advancements in nucleic acid testing technologies and their adoption in Europe would result in high growth of the market. Recent developments in the field of nucleic acid testing have led to a shift of technology from laboratory to point-of-care testing. Some of the factors restraining the market are ineffectiveness and slow adoption rate, lack of facilities, and regulatory challenges. Future technology enhancements is the major opportunity in the nucleic acid tests market.

Polymerase chain reaction is an established amplification technique for nucleic acid (NA) tests for group A streptococcus (GAS). Recently the techniques like Non-Amplified Tests such as Nucleic acid probes is getting popular due to its high specificity, and there is no risk of contamination in the sample. Isothermal nucleic acid amplification technique is being rapidly adopted due to its high adoptability over other test methods. Loop mediated amplification technique is a type of isothermal nucleic acid amplification technique that is used in identification of group A streptococcus by nucleic acid tests.

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The molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests in Europe has been estimated based on type of tests, end-user, and geography. Based on type of test, the market has been segmented into polymerase chain reaction, non-amplified tests, and isothermal nucleic acid amplification technology. The polymerase chain reaction segment held the largest share of the market in 2014. The segment is likely to continue to dominate the market during the forecast period. The isothermal nucleic acid amplification technology segment is estimated to record fastest growth during the forecast period due to rising need for accurate and rapid results.

Based on end-user, Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Product market has been segmented into hospitals, public health laboratories, and others. The hospitals segment held the largest share of the market in 2014. The segment is likely to continue to dominate the market during the forecast period.

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Geographically, the molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests has been categorized into five regions: Western Europe, Northern Europe, Southern Europe, Eastern Europe, and Rest of Europe. Western Europe held the largest share of the GAS nucleic acid tests market in 2014, followed by Northern Europe. The market in the Northern region is expected to expand at a high CAGR during the forecast period. Low market revenue and growth in Eastern Europe and Rest of Europe is due to low adoption of nucleic acid tests.

Alere, Inc., Meridian Bioscience, Inc., Nanosphere, Inc., Hologic, Inc., and F. Hoffmann-La Roche Ltd. are the major players operating in the molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests in Europe. F. Hoffmann-La Roche Ltd. is the leading player in the market.

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Submitted by hawer on Friday, 15 March 2019 at 2:12 PM
Category: Health Care & Medical
 
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