Molecular Information Systems Market Insight:
Molecular information system is widely used in determining the sequence inDNA or genetic make-up, enzymes, proteins at molecular level with the use of kits, reagents, and instruments. Various methods are used to determine sequence in molecular information that includes using instruments such as PCR, RAPD, and DNA microarrays Molecular information systems are beneficial in a wide array of medical fortes comprising of, infectious disease, oncology, human leucocyte antigen typing, coagulation, and pharmacogenomics.
Impact of COVID-19 onMolecular Information Systems Market:
- The effect of COVID-19 upon digital solutions over delivery of healthcare has been and continues to be very substantial and it is speeds up as fast as COVID-19 is moving across the globe. There are many lessons to be learnt from the use of technology in public health surveillance, from the linking of data in sentinel labs to the development of technological solutions to immediately link testing in various geographical locations, thus enabling insights to be drawn around spread. When it comes to the use of technology around contact tracing, some countries like South Korea have developed the use of smartphone technology to assist in better managing contacts with quite exceptional results.
- Due to the exponential increase in the number of infected patients.The healthcare infrastructure such as specialist doctors, nurses, paramedical professionals, beds, ventilators etc., are being used to its complete capacity. According to Organization for Economic Corporation and Development (OECD) in 2019, there are 0.5 beds for 1,000 people in India. In the United States, this number is 2.8 beds per 1000 individuals. Indonesia has 1 bed per 1000 individuals. Even Italy that has 3.2 beds per 1000 individuals - one of the best health infrastructures is struggling to deal with the increasing patients. Thus, the pandemic has created a need to not only improve the healthcare infrastructure in volume but also by quality.
- During the crisis, there is a surge in demand for medicines, medical devices, and other essential products such as PPE kits, gloves, and sanitizers.
- Many hospitals are already running low on key medical supplies such as masks and ventilators, and many more are bracing for shortages of personal protective equipment due to the coronavirus.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in awareness and acceptance of personalized medicine and companion diagnostics, high prevalence of infectious diseases and various types of cancers are the major driving factors for the growth of molecular information systems market. However, delay in approval of new molecular information can hamper the growth of market. Contrarily, advances in genomics and proteomics is an opportunistic factor for the global market.
High prevalence of infectious diseases and various types of cancers
The global prevalence of infectious diseases, such as influenza, HPV, hepatitis, HIV, and tuberculosis, is considerably high despite the significant improvements in sanitation practices and medicine. Traditionally, antimicrobial therapy was used as a powerful tool to combat infectious diseases. However, over the years, antimicrobial agents have failed to deliver the desired results due to the emergence of drug-resistant microbes.
Owing to this, the prevalence of these infectious diseases is increasing globally. The high and rising incidence of infectious diseases is creating a demand for new diagnostic procedures, including molecular information systems, which are fast and specific. Similar to infectious diseases, the prevalence of cancer is also growing across the globe. With the growing incidences of cancer globally, the demand for molecular information systemsfor effective cancer diagnosis is expected to increase in the coming years.
Delay in the approval of new molecular information systems
Regulatory and legal requirements applied to molecular information systems are becoming more stringent. For more than 20 years, the FDA has emphasized that it has supervisory authority over LDTs (laboratory-developed tests), but it has chosen to exercise enforcement discretion over such tests. In recent years, however, the FDA has declared that added oversight of LDTs is needed and that the agency plans to issue a guidance document on this. Hence, even the issuance of the draft guidance is sure to raise queries and create new issues.
Without an understanding of how the regulatory environment in the LDT sector may change in the future, players may find themselves facing an uncertain regulatory future. In addition, earlier, diagnostic tests were comparatively simple and used well-established technologies, such as immunoassays. Nowadays, the role of NGS and other novel genetic tests in diagnostic testing is increasing. However, it is not clear how these new technologies will be regulated in the future.
Key benefits of the report:
- This study presents the analytical depiction of the global molecular information industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global molecular information market share.
- The current market is quantitatively analyzed to highlight the global molecular information market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
Molecular Information Systems Market Report Highlights
By End User
Key Market Players
Dickinson and Company, QIAGEN N.V, Thermo Fisher Scientific, Abbott Laboratories, Agilent Technologies, Hologic, F.Hoffmann-La Roche, Becton, Biomerieux SA, Danaher Corporation