World Molecular Testing Market: For Growth, See Emerging Nations

World Molecular Testing Market: For Growth, See Emerging Nations

Worldwide, clinical molecular diagnostics is seeing steady but slower growth than some expectations, according to our latest Six Month Update on Molecular Diagnostics.  We estimate 5% market growth from 2012 to 2013. Still better than the IVD market as a whole, but representative of some conservative spending.  The financial crisis and economic downturn that began in 2008 and continues to some degree today and has changed consumer behavior. Many patients are forgoing physician consultations in the U.S. Further, state-supported Medicaid and Medicare health programs are struggling to maintain funding. A similar situation in Europe has lead to cutbacks in government and employer-supported health plans.  For better growth, companies should look to emerging healthcare systems.

The result is that the market for molecular assays in N. America and Europe - the two largest markets for molecular tests - is not quite as robust as anticipated in other years. Growth rates have not evolved as expected. Therefore the market for clinical molecular diagnostics, except those for microbiology/virology and histology, has stalled Overall, clinical molecular testing remains a phenomenon of the developed world. At least 80% of the molecular assays performed are concentrated in the developed world- North America and Western Europe. Recently molecular test companies and laboratories have established partnerships in the the top seven emerging markets: Brazil, Russia,  India, China, South Korea, Mexico and Turkey. As market growth in the U.S. has started to reach a steady state of some 4%-6% annual growth, these emerging markets offer  opportunities for growth and market expansion.    More results in our Six Month Update, available for purchase at: http://www.kaloramainformation.com/Molecular-Diagnostics-Month-7969379/