Increasing adoption of next generation molecular assay are being witnessed all over the world, as next generation molecular assay offers various advantages over conventional testing such as the ability to perform multiple assays along with data reliability and increased speed. Next generation molecular assay has resulted in high level of precision. Next generation molecular assay provide advantages such as reduced errors and enhanced detection and quantitation which have led to the use of next generation molecular assay in therapeutic drug monitoring and drug prescription selection with the objective of avoiding toxicity and other side effects
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Next Generation Molecular Assay Market: Drivers and Restraints
Improving reimbursement policies serve as a major driver for the global next generation molecular assay market. Various next generation molecular assay developed through advancements in the in-vitro detection techniques including genomics and proteomics are a growing trend in the global next generation molecular assay market and are expected to drive the growth of the next generation molecular assay market. Innovations associated with next generation molecular assays include the ability to detect new variants of viruses, genomic modifications in pathogens, and others are some of the factors influencing the growth of next generation molecular assay market. Product launches in the global next generation molecular assay market are primarily focused on detection of novel oncologic biomarkers, which are used for the early detection of cancer. However, costs associated with next generation molecular assay are expected to be a major restraining factor for the next generation molecular assay market.
Next Generation Molecular Assay Market: Overview
The global market for next generation molecular assay is expected to witness considerable growth over the forecast period. Some of the latest next generation molecular assay have been integrated within diagnostic settings. For example- DNA-free Platinum Taq DNA Polymerase, which is a next generation molecular assay enzyme, which is manufactured using a novel single?use system. Along with stringent quality testing, it minimizes the risk of DNA contamination which could usually compromise sensitivity and specificity in diagnostic assays. High sensitivity & specificity along easy operability are expected to contribute to the growth of next generation molecular assay market. By end users, the global market for next generation molecular assay has been segmented into hospitals, academic & research centers, biopharmaceutical companies and others. Hospitals are expected to have a considerable market share over the forecast period as it is the most easily accessible channel in various regions.
Next Generation Molecular Assay Market: Regional Outlook
Geographically, the global Next Generation Molecular Assay Marketis segmented into viz. North America, Latin America, Europe, Eastern Europe, Western Europe, Asia-Pacific, China, Japan and the Middle-East and Africa (MEA). North America is expected to be dominant market in the global Next Generation Molecular Assay market owing to the increase in research & development expenditures, favorable reimbursement scenarios, and growing focus on developing innovative technologies. Asia Pacific is likely to offer high potential for growth of the Next Generation Molecular Assay market during the forecast period, owing to increasing number of research & development sites and increasing government expenditure on health care in the region.
Next Generation Molecular Assay Market: Key Players
The global market for Next Generation Molecular Assay is mildly fragmented. Examples of some of the key players operating in the global Next Generation Molecular Assay Marketare Thermo Fisher Scientific Inc, Invivoscribe, Myriad Genetics Inc, Becton, Dickinson and Company, Molecular Devices, LLC, Luminex Corporation, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Tecan Trading AG, Agilent Technologies Inc and others
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