Global DNA probe-based diagnostic market segmentation by application and geography
Technavio’s report on the global DNA probe-based diagnostic market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, to include infectious diseases and cancer testing. The infectious disease segment dominated the market with more than 38% of the market share in 2016, owing to its ability to identify pathogenic microorganisms.
Based on geography, the global DNA probe-based diagnostic market has been segmented into the Americas, EMEA, and APAC. As of 2016, over 47% of the market share was contributed by the Americas, due to the use of DNA probe-based diagnostics for diseases such as cancer.
“In countries such as Mexico, Chile, Brazil, and Argentina, the need for molecular diagnostics is high because of the growing incidence and prevalence of cancer. The presence of effective public policies in Brazil to reduce high costs of molecular diagnostic tests is being backed by large vendors as they are setting up R&D facilities in the country,” says Tasneem Ali, a lead analyst at Technavio for lab equipment research.
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DNA probe-based diagnostic market: competitive vendor landscape
The global DNA probe-based diagnostic market is characterized by the presence of diversified international and regional local vendors. Regional vendors are finding it difficult to compete with key players who are internationally expanding their base in terms of quality, price, and market reach. International players are expected to grow by acquiring regional or local players. Fast-developing APAC countries such as India, China, Japan, Australia, and Singapore provide profitable opportunities for many international players to expand their presence in the market.
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Other topics covered in the report:
- Growing incidence and prevalence of cancer
- Expanding applications of DNA probe-based diagnostics
- Highly complex technique
- Irregularities in reimbursement leading to increased overall costs
- Advancement in DNA array
- Increase in molecular research activities
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