Medical Diagnostics Market Size & Trends Accretes a Voluminous Growth at 12% of CAGR by 2023

PUNE, India and LAS VEGAS, June 27, 2018 /PRNewswire/ --

The report "Medical Diagnostics Market by Product (POC diagnostics, Molecular diagnostics, Hematology devices, Tissue diagnostics, Clinical microbiology systems) - Global Forecast to 2023", issued by Crystal Market Research, the market size for the Medical Diagnostics is proposed to grow during the forecast period with a significant CAGR.

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Point-of-Care (POC) Testing is foreseen to bud with an escalation in CAGR over the forecast period. 

The rising adoption of POC tests along with the innovation of test based on biomarkers across the world, the medical diagnostics market is surely gaining positive market share during the forecast period. Several healthcare facilities and patients are progressing towards ending early and quick detection of diseases by decentralizing their facilities in order to render medical services remotely and be cost effective.

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North America is racing the ahead and contributing to the greatest market share. North America has a constantly increasing aged population base, increasing awareness of the significance of lab tests in patients, hands-on cost-efficient tests linked to chronic diseases such as AIDS and hepatitis C. Cultivating interest for healthcare benefits in the emerging markets and the awareness of highly neglected clinical testing requirements brought about progression of potentials for research development facility in emerging economies, for instance in India and China.

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Miscellaneous Driving factors of the medical diagnostics 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.

Bigger market players are profiled in-depth in view of qualities, for example, company portfolio, financial overview, business strategies, recent developments, and share of the overall industry. A few of the leading market player in this industry are Biomerieux, Beckman Coulter Diagnostics, Roche Qiagen, Amgenix International, Cepheid, BD, DiagCor, Life Technologies, Hologic, Randox Laboratories and Span Diagnostics.

The Medical Diagnostic Market is segmented as follows- 

By Product: POC diagnostics, Molecular diagnostics, Hematology devices, Tissue diagnostics and Clinical microbiology systems

By Region: North America: (U.S., Canada & Mexico), Europe: (Germany, UK, France, Russia, Italy & Rest of Europe), Asia-Pacific: (China, Japan, South Korea, India, Southeast Asia & Rest of Asia-Pacific), South America: (Brazil, Argentina, Columbia, South Africa & Rest of South America) and Middle East and Africa: (Saudi Arabia, UAE, Egypt, Nigeria, South Africa & Rest of MEA)

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