Molecular Diagnostics Market Size Worth USD 31.28 billion by 2030| Global Molecular Diagnostics Industry Updates, Leading Players, Share, Size, Future Growth, Business Statistics Insights, and Industry Expansion Strategies, by Growth Plus Reports

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Jul 06, 2022, 09:00 ET

NEW YORK, July 6, 2022 /PRNewswire/ -- The Global Molecular Diagnostics Market is expected to clock US$ ~31.28 billion by 2030 owing to increasing demand for rapid diagnostic tests for detection of various life threatening conditions.

Molecular diagnostic tests are used to screen donated blood products for infectious diseases like HIV and hepatitis. In hospitals, testing is often performed to identify specific pathogens in patients with infections for qualitative and quantitative diagnosis. The technique is also used to diagnose and monitor diseases, detect disease risk, and decide which therapies will work best for individual patients. Molecular diagnostics help to understand biological composition on structure and function of nucleic acid and proteins which are found in genetic material or with specific health diseases.

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The global molecular diagnostics market has been analyzed from five different perspectives – Product & Services, Technology, Application, End User, and Region.

Market Driver

Researchers have been strongly encouraged to create quick and precise pathogen detection technologies as a result of worldwide outbreaks of infectious diseases that are fatal and are brought on by pathogenic microorganisms.

Culture-based methods are often thought of as the gold standard for pathogen detection, however their use is somewhat constrained by the lengthy turnaround time required by overnight growing and pathogen separation.

The creation and use of molecular diagnostic methods have revolutionised the detection and tracking of infectious diseases over the past few years.

Excerpts from 'by product & services segmentation'

The global molecular diagnostics market has been segmented into:-

Systems & Instruments
Assays
Reagents & Kits
Software & Service

The assay, reagents & kits segment accounted for the largest share in the market owing to easy accessibility of reagents and their usage across a wide range of therapeutic applications.

Followed by this, the molecular diagnostics service segments is also showing growth owing to the entry of new diagnostic laboratories, increasing prevalence of chronic diseases and growing demand for early diagnostic tests and treatments.

Excerpts From'by technology segmentation'

The global molecular diagnostics market has been segmented into:-

Polymerase Chain Reaction (PCR)
DNA Sequencing & Next-Generation Sequencing (NGS)
In Situ Hybridization
Microarrays
Others (transcription mediated amplification, mass spectrometry, etc.)

With the introduction of new genome sequencer platforms, genome sequencing is now affordable to many and also the novel personalized medicine approach needs a genome sequencing report. For instance, in Aug 2020 Illunia launched NovaSeq 6000 v1.5 new reagent kit which is more cost effective and had reduced genome sequencing costs by 40% - 70%. The new NovaSeq ^ 6000 v1.5 Reagent Kits were launched to make whole-genome sequencing more affordable and accessible in labs.

Excerpts from 'By Application Segmentation'

The global molecular diagnostics market has been segmented majorly into five distinct applications, viz: -

Infectious Disease
Oncology
Pharmacogenomics
Genetic Testing
Others (neurological disease, cardiovascular disease, etc.)

The molecular diagnostics market is expected to grow owing to increased cancer diseases, advanced diagnostic tests for early detection, and precision medicine trends for cancer treatment are pushing the market.

The infectious disease segment also holds largest market share in the molecular diagnostics market. The growth of the segment can be mainly attributed to the sudden viral epidemics of infectious diseases such as H1N1 & COVID-19. The outbreak of these diseases across the globe had raised the demand for effective molecular testings for detection of such diseases.

For instance, in June 2022 CerTest Biotec and BD (Becton Dickinson) announced a collaboration to develop a molecular diagnostic test for the latest Monkeypox virus.

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Excerpts from 'By Region Segmentation'

The global molecular diagnostics market has been segmented into

North America
Europe
Asia Pacific
Rest of the World (RoW)

Asia Pacific is also projected to be the fastest-growing molecular diagnostics market. The high growth of region can mainly be attributed to its developing healthcare infrastructure, rising pharmaceutical & life science research activities, the prevalence of cancers, and high clinical unmet needs are driving the market growth. Countries such as India, China, and Japan, are projected to offer significant growth opportunities owing to the large population, increasing consumption of tobacco & alcohol and rising geriatric population who have low immunity are fueling the market growth. Europe is also expected to show growth in the global molecular diagnostics market owing to rapid adoption of novel technologies, availability of robust infrastructure, and high prevalence of infectious and chronic diseases.

Excerpts from 'Competitive Landscape'

The prominent players operating in the global molecular diagnostics market are:

F. Hoffmann-La Roche Ltd
bioMérieux SA
Beckman Coulter Inc
Becton Dickinson & Company
Siemens Healthcare Private Limited
Grifols
SA
Abbott Laboratories Inc
Hologic, Inc
Danaher Corporation
QIAGEN NV
Among others

Table of Content

INTRODUCTION

Market Ecosystem
Geographic Scope
Timeline Under Consideration

Historical Years – 2020
Base Year – 2021
Forecasted Years – 2022 to 2030

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach
Data Collection Methodology
Data Sources

Secondary Sources
Primary Sources

Market Estimation Approach

Bottom Up
Top Down

Market Forecasting Model
Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trend (COVID-19 Perspective)
Technological Advancements
Key Players & Their Competitive Positioning (2021)

MARKET DYNAMICS

Drivers
Restraints/Challenges
Opportunities

GLOBAL MOLECULAR DIAGNOSTICS MARKET – ANALYSIS & FORECAST, BY PRODUCT & SERVICES

Systems & Instruments
Assay Reagents & Kits
Software & Services

TOC Continue…..

VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Winning imperatives
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
'Business Profile' of Key Players

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