Top 14 Molecular Diagnostics Firms
June 2, 2014
Molecular diagnostics has grown to a sizeable market, though consensus has proven elusive when it comes to how sizeable. One report released in March offered a market size of $4.476 billion for last year (Grand View Research), while another pegged the market even higher in 2013 at $5.5 billion (Kalorama Information). The latter is more in line with Frost & Sullivan's 2012 forecast that molecular diagnostics will grow this year to more than $6.2 billion in total revenues (Frost & Sullivan).
Whatever the size, molecular diagnostics is a growing market, with a growing number of players - not only biopharma giants
like Roche and Abbott, but numerous companies that have found their niches in tools and technologies. They are expected to be
joined by up-and-comers such as Xagenic, which on May 20 was honored with the 2014 North America Frost & Sullivan Award for New Product Innovation Leadership for its fully automated diagnostic platform, designed to enable widespread decentralized testing to be performed outside of clinical laboratories. Xagenic has raised more than $30 million in financing since 2012, of which $20 million in Series B funding was announced in December.