Target-based Identification based on Biomarker Study is Driving the Molecular Forensics Market
With the completion of the Human Genome Project (HGP), a new wave of technologies, called next-generation sequencing (NGS) was introduced in the healthcare industry. PCR, and NGS have fundamentally changed genomics research and enabled the scientists to research extensively on the gene variants to specific molecular diagnostics and aided the development of targeted therapeutics depending on the genetic profile of an individual. The completion of the project, subsequently, created platform for the development of precision medicines.
One of the revolutionary breakthroughs which NGS has resulted in is molecular forensics. Molecular forensics involves a detailed study of an individual information to identify and characterize the molecular sequences, resulting in target-based identification. This method approach based on biomarker study is perceived to be promising in driving a paradigm shift in the molecular forensics industry, facilitating elimination of uncertainty pertaining to the trial-and-error method of medications, and certainly eliminating unnecessary healthcare spending. With sequencing being the primitive pivotal step involved in biomarker study and in the field of genetics, the development of the sequencing technologies played a crucial role in the evolution of molecular forensics.
The impressive research on molecular technologies and biomarkers using NGS has unlocked pathways for the development of momentous various procedures such as mtDNA sequencing. The growing demand for non-invasive diagnostic procedures enabling genetic profiling has further enhanced the requirement of NGS technologies.
According to the recently published market intelligence by BIS Research, titled “Global Molecular Forensics Market — Analysis and Forecast, 2019–2029”, the molecular forensics market registered a revenue of $996.9 million in 2018. The market is projected to grow at a CAGR of 9.09%, during the forecast period from 2019 to 2029.
The APAC region has been experiencing tremendous growth in the molecular forensics technology and several initiatives have been undertaken in this region to promote research and development on forensics solutions. These initiatives have directly translated into growth drivers for the allied fields of in-vitro diagnostics and more precisely, NGS. However, even though economically developing regions in Asia-Pacific are likely to grow in the field of NGS technology in future, at present they are lagging the major developed countries, especially in case of adoption of NGS diagnostics. Further, owing to differing regulatory processes between countries for genetic testing, there are several hurdles for companies to deploy new technologies across this region.
