Global Medical
Diagnostic Market: Analysis and Opportunity Assessment 2014-2023

Market Overview:

Medical
Diagnostics is the procedure of detecting the type of disease or condition
that explains the patient’s symptoms. It is commonly alluded to as diagnosis
with the medical context being certain. The data required for diagnosis is commonly
gathered from a history and physical examination of the individual looking for
medical care. Diagnostic tests make it conceivable to detect the microorganism
causing a disease and to perform susceptibility testing to provide the most
appropriate treatment. They also make it possible to detect non-infectious
diseases. Commonly, one or more diagnostic techniques and diagnostic tests are
performed amid the procedure. Accurate diagnosis is the most important aspect
of health care. Sometimes subsequent diagnosis is viewed as a sort of medical
diagnosis. Certain diagnosis can often be difficult due to numerous signs and
side effects being nonspecific. The advent of specialized and top notch tests
for early detection of diseases and disease management and expanding demand for
lab automation are the key drivers of medical diagnostics market.

Latest Market Trends and Industry Insights:

Medical
diagnostics render solution to cater to greater health challenges which the
general public faces, like, the fight against antimicrobial resistance, and sepsis
prevention and surveillance. Furthermore, they have a prime role in the
control, prevention and surveillance of pandemics. These tests examine
biological samples such as saliva, blood, skin, urine, etc., taken from
patients; determine the existence of any type of viruses, bacteria, parasites
or fungi along with any other secreted substances by an individual. Medical
diagnostics is a process of carrying out diagnostic tests by making use of
analysing reagents, apparatuses and systems to ascertain a pathological
condition or a disease in a laboratory. The Medical Diagnostics Market has
remarked significant demand in the recent years and is foreseen to grow
tremendously in the forthcoming years. The global market for medical
diagnostics is predicted to capture major share in the future as these
diagnostic tools are user-friendly and are superiorly accessible. The
increasing acceptance and use of point-of-care (POC) tests and with the
introduction of biomarker-based tests globally, this market is sure to gain
popularity during the forecast period. Patients and healthcare facilities are
working towards empowering early detection of diseases by currently
decentralizing their facilities, to provide medical services remotely and at
controlled costs. As these diagnostic tools are easily available and simple to
use, the market for medical diagnostics is anticipated to gain significant
traction over the forecast period.

Major Players:

The
leading players in the market are Biomerieux,
Beckman Coulter Diagnostics, Roche Qiagen, Amgenix International, Cepheid, BD,
DiagCor, Life Technologies, Hologic, Randox Laboratories and Span Diagnostics.

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The Medical Diagnostic Market is segmented
as follows-

By Product:

•POC
diagnostics

•Molecular diagnostics

•Hematology devices

•Tissue diagnostics

•Clinical microbiology systems

Driving Factors of the Market:

New
technology is the main factor boosting the development of the market. Medical
Diagnostics technology has improved drastically in the past few years, owing to
the publication of the human genome project and enhancements in bioinformatics,
functional genomics, miniaturization and microelectronics. The introduction of
new nanotechnology-based strategies and materials ensure prior, more accurate
and more dependable diagnosis while limiting the amount of biological samples,
with a positive effect on ecology and sustainability through a vast decrease in
utilization of reagents and disposables. In addition, these diagnostic tools
are conveniently available and simple to use, the market for medical
diagnostics is foreseen to develop significantly over the forecast period.
Apart from the aforementioned factors, there are several benefits provided by
medical diagnostics such as timely improvement in the patients’ health,
accurate detection and significant contribution to consumer safety.

Regional Insights:

North America
(United States, Canada and Mexico)

Europe
(Germany, France, UK, Russia, Italy and Rest of Europe)

Asia-Pacific
(China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)

South
America (Brazil, Argentina, Columbia and Rest of South America)

Middle
East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of
MEA)

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Major Table of Contents:

Chapter 1.Introduction

Chapter 2.Executive Summary

Chapter 3.Market Overview

Chapter 5.Medical Diagnostic Market, By Product

5.1.Introduction

5.2.Global Medical Diagnostic Sales, Revenue and Market Share by Product
(2014-2018)

5.3.POC Diagnostics

5.4.Molecular Diagnostics

5.5.Hematology Devices

5.6.Tissue Diagnostics

5.7.Clinical Microbiology Systems

...

Restraining Factors of the Market:

The
prime aspects inhibiting the development of the Medical Diagnostics Market is
the lack of awareness in underdeveloped regions regarding various diagnostic
methods which results in late diagnostics of deadly diseases. Moreover, lack of
support from administrative bodies in underdeveloped countries prompts the lack
of resources for timely and precise diagnosis of a disease. This brings about
higher rate of mortality. Another major factor that restrains the growth of the
market is the high cost of treatments and lack of supportive reimbursement
schemes for middle class population. The Medical Diagnostics Market is
segmented on the basis of product into POC diagnostics, Molecular diagnostics,
Hematology devices, Tissue diagnostics and Clinical microbiology systems Out of
which the tissue diagnostics is one of the leading segments due to its
significant importance for the diagnosis of diseases like cancer.

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