The molecular diagnostics market is expected to reach US$11.54 billion by the year 2023. The compounded annual growth rate of this market is expected to be 8.4%. The main reason which drives the growth of this market is the high prevalence of infectious type of diseases and different kinds of cancers prevailing in the world. The molecular based diagnostics in layman terms can be referred to as the technique that can be used to identify as well as analyse the nucleic acids and proteins on the molecular levels. This technique also helps to assess the genetic makeup of the individuals so that predisposition to particular diseases can be identified and diagnosed. 

 Following are the market dynamics regarding this market: 

  • The drivers: The major segment of the drivers includes the high type prevalence of various infectious diseases as well as various types of cancers prevailing in the world. These diseases may include HPV, influenza and many more. In traditional times, antimicrobial therapy was the method to combat such diseases. But with the years these agents have failed to deliver the desired results because of the emergence of drug-resistant microbes. This is the main reason such diseases are prevailing more globally. Similar to such disease is the cancer which is also growing throughout the whole globe. With the growing number of cases of cancers, the demand for such tests is expected to rise in the years to come.
  • The restraints: The major part of this concept is the delay in the approval of these kinds of tests. A lot of regulatory and legal requirements act as the strains in the whole process. Since the last 20 years, the FDA is emphasizing over there already regarding these tests. The issuance of such draft has also led to rising of various queries and creates new issues. Without a proper understanding of how the regulatory environment will change in future, these players also find themselves facing uncertain times in terms of regulatory things. In previous times, these kinds of tests were much simpler but now it is not so.
  • The opportunity: The advances in the genomics, as well as proteomics, form the major component of the opportunities. The new technologies which are based upon techniques like PCR have helped a lot in the discovery of new molecular based diagnostic approaches. This has also led to better surveillance and rapid diagnosis. Advanced technologies in combination with the efforts of the pharmaceutical companies can help in dealing with the threats associated with such diseases. With the growing amount of research in this field, the commercialization is expected to come in terms of more advanced techniques in future.
  • The threats and challenges: The major component of this part is the lack of trained professionals which limits the use of all such technologies. We can overcome this all but the laboratories must have to be well versed with the techniques and well supplied with the skilled personnel so that effective analysis of the solutions can be done. Still, there is a lot of operational gaps which has to be overcome by the combined efforts of all.

 Hence, the molecular diagnosis global market is expected to grow along with various segments in the years to come.