According to Mordor Intelligence, the global molecular diagnostics market is expected to grow from $9.3 Billion in 2020 to $15.2 Billion in 2026, a CAGR of 9.2%. Traditionally, MDx was heard of only by the medical fraternity and used to detect cancerous cells in an individual. However, due to the prolific technological advancements, the world witnessed the development of a wide range of sophisticated molecular diagnosis techniques. MDx played a massive role in the fight against COVID-19 in the form of real-time Reverse Transcription - Polymerase Chain Reaction (RT-PCR) testing all over the world.
The molecular diagnostic industry comprises PCR, in-situ hybridization, Point-of-care tests (POC), sequencing, isothermal amplification, and chips & microarrays, each of which is used for the detection of different patterns in a DNA sample. Of these, sequencing is projected to grow at a CAGR of 12% by 2026. The application of next-generation sequencing (NGS) to characterize cancer genomes has resulted in the discovery of numerous genetic markers useful for research and the cure of diseases.
An increase in the occurrence of infectious diseases and cancer in developing and developed nations will influence the growth of the molecular diagnostics market. Pharmaceutical companies are increasingly collaborating with diagnostic companies to make safer and more effective drugs, supporting market growth in the coming years.
The pandemic, without a doubt, has highlighted the role of many aspects of molecular diagnostics, including strengthening of testing infrastructure and a greater focus and push to the industry-academia collaborators. MDx is rapidly evolving and emerged to be a vital component of the healthcare segment.
In this edition, Healthcare Tech Outlook has compiled a list of the Top 10 Molecular Diagnostics Solution Providers in Europe. The list comprises prominent organizations in the industry that solve challenges in the molecular diagnostics arena by executing the current trends. Besides, the magazine also includes insights from thought leaders in the sectors on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs and CXOs.
We present to you Healthcare Tech Outlook’s “Top 10 Molecular Diagnostics Solution Providers in Europe – 2021.”
