Next Generation Molecular Assay Market Market Trends

Growth Drivers

• Technological advancements in the healthcare industry: New technologies are changing traditional healthcare techniques and patients are now able to access cutting-edge treatment. Also, advancement in technology has improved the communication between patients and healthcare professionals as with video call feature a patient can easily connect to their respective doctor and ask for advice.
  
  Moreover, research and development in biotechnology is also evolving and the next generation molecular assay market holds the potential to face challenges in the future since it showed a rapid response to COVID-19 in the past.
   
• Rising demand for genetic testing: Demand for personalized medicine is increasing day by day, eventually leading to the demand for genetic testing. Genetic testing provides information about diseases such as cancer and diabetes by analyzing the DNA. In November 2022, 0.08 million genetic cases were registered under the genetic testing registry. Once early detection is done, healthcare experts prescribe medicines and treatments as per the report
  
  Because of the increased awareness about health risks, genetic testing is considered one of the top-notch detection tools accelerating the next generation molecular assay market.
   
• Increase of infectious diseases in animals: One of the main reasons behind the increase of infectious diseases among animals is industrial farming. Zoonotic diseases not only affect animals but humans too. Most of the diseases known to the human beings are caused by animals. We often get in touch with animals for different purposes and fall prey to zoonotic diseases.
  
  In the USA, the CDC works actively to keep zoonotic diseases away from humans, keeping animal health in mind and according to them 3 out of 4 infectious diseases affecting humans arrive from animals.

Challenges

• Budget restraints - Many academic institutes are facing capital deficiency in research and development programs worldwide which is severely impacting the growth of new techniques and tools.
   
• Ethical approval – It is another issue emerging as a restraint for next generation molecular assay market. The research and development programs are often delayed due to pending consent formalities from committees.