![]() The introduction of tuberculosis testing Xpert assay on GeneXpert platform by Cepheid is an example of such advancement. These include the introduction of Cobas HPV test assay in Cobas 4800 by Roche Diagnostics. Key players are enhancing their range of testing options for real-time PCR instruments by increasing R&D activities for the development of kits that target emerging diseases or by entering into agreements with other kit manufacturing companies. ![]() has proprietary technologies, such as eSensor XT-8 and ePlex, which can be utilized in developing tests for infectious diseases, including bloodstream infections. at a price of USD 24.05 per share in cash, and it holds around 82.89% of total shares of GenMark Diagnostics. For instance, in March 2021, Hologic announced the acquisition of Diagenode-a molecular diagnostic company with a wide range of PCR instruments, facilitating the detection of over 30 bacteria-for USD 159 million. These improvements are expected to enhance the availability of PoC molecular diagnostic tests to yield quick and effective test results.Ĭompanies are expanding their product portfolios with the acquisition of smaller companies. The miniaturization of three basic molecular assays-nanobiotechnology, biochips, and microfluidics are expected to increase the accuracy and specificity of diagnostic outcomes, and hence, increase the demand for molecular diagnostic products. Increasing incidence and awareness regarding genetic disorders is further anticipated to accelerate market growth. Hence, the increasing prevalence of hospital-acquired infections & infectious diseases is projected to drive the market over the forecast period. Molecular diagnostics plays an important role in infectious disease testing as they can yield effective and fast results. ![]() However, factors such as the rising geriatric population and increasing demand for technologies such as NGS is expected to drive market growth. The contraction in the market will be due to the decline in demand for molecular testing for COVID-19. The global molecular diagnostics market size is expected to reach USD 31.9 billion by 2030, and is expected to decline at a CAGR of -1.6% from 2022 to 2030, according to a recent study by Grand View Research, Inc. Molecular Diagnostics Market Growth & Trends ![]()
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