Ocean View, DE -- (SBWIRE) -- 05/14/2020 -- Molecular diagnostics market is projected to record significant gains over the forthcoming timeframe. Molecular diagnostics is one of the most transformative and dynamic areas of diagnostics, leading to various advancements in research and treatment which are revolutionizing healthcare throughout a wide array of medical conditions and diseases.

The term molecular diagnostics is a class of diagnostic tests that evaluate health of a person literally at a molecular level, measuring and detecting specific genetic sequences in RNA or DNA or the proteins they express.

Recent advances in molecular diagnostics are starting to shift from basic research to clinical reality. Some of the popular as well as cost-efficient diagnostic tests in medicine are based on quantification of a particular protein and are often used in hospitals globally.

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Patients as well as families generally rely on molecular diagnoses for disease prognosis, family planning and health-care management, and they get benefits when an answer is found for the afflicting condition.

Based on the application landscape, the market is segmented into oncology testing, blood screening, genetic testing, and infectious disease. Among these, the genetic testing segment is projected to record a CAGR of around 11% between 2019 to 2020 owing to the increasing advancements in diagnostic tools enabling higher sensitivity and specificity.

Furthermore, genetic testing has grown from a niche field for rare disorders to a wide scope of applications for personal use and complex disease. Applications of clinical genetic testing range from medical disciplines, which includes carrier and diagnostic testing for inherited disorders; pharmacogenetic testing to guide individual drug selection, dosage and response; to screening of newborn for highly penetrant disorders; and pre-symptomatic and predictive testing for adult-onset and complex disorders.

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With respect to technology, the market is bifurcated into sequencing, isothermal amplification, PCR, chips & microarrays, in situ hybridization, mass spectrometry, and others. Among these, the in situ hybridization (ISH) segment is slated to record a market valuation of more than $3 billion by 2026, owing to the technological advancements that are allowing low cost gene mapping and diagnostics.

ISH is a technique allowing localization of a particular segment of nucleic acid within a histologic section. The fundamental basis of ISH is that nucleic acids if preserved effectively within a histologic specimen, could be discovered through the application of a corresponding strand of nucleic acid to which a reporter molecule is generally attached. The technique is specifically useful in neuroscience.

Other applications of ISH are microbiology, pathology, developmental biology, karyotyping, and phylogenetic analysis.

From a regional frame of reference, Latin America molecular diagnostics market is expected to reach a valuation of more than $1 billion by 2026, which is attributable to the rising awareness about cost-effective molecular diagnostics options among general population.

Molecular diagnostics has become an important part of disease management and therapy, used in applications areas like drug regimen selection, detection of predisposition to disease, patient stratification, toxicity avoidance, and therapeutic monitoring. This growing integrality of the industry is poised to help it grow significantly in coming years.