Global Molecular Diagnostics Market is Growing with a CAGR of 6.0% in the Forecast Period of 2021 to 2028

Global Molecular Diagnostics Market is growing with factors such as the rising demand for molecular diagnostics tools to diagnose COVID-19 patients, coupled with an increase in infectious disease and cancer prevalence. Increasing demand for point-of-care testing act as a major factor for the growth of the market. Favorable product launch for the molecular diagnostics for healthcare have also given a boom to the global molecular diagnostics market.

Technological advancements have propelled the demand of the market. However, the high cost of instrumentation and stringent rules laid down by governmental bodies for the approval of molecular diagnostics products has decreased the demand of the market.

Global Molecular Diagnostics Market Scenario                         

According to Data Bridge Market Research, the market for global molecular diagnostics in North America has the highest market share followed by Europe and Asia-Pacific. Market leader is Abott, which accounts an estimated market share of approximately 29.07% in the global market. The company has gained outstanding sale by launching products of molecular diagnostics.

  • In March 2020, Abbott launched a new product named ID NOW for the detection of coronavirus. It is lightweight, portable, offer a high degree of accuracy, and uses molecular technology. This new product launch helped the company expand their product portfolio and offer molecular diagnosis service for rapid testing of COVID-19

Molecular Diagnostics Market Trends Impacting the Market

Now the question is which other regions Abbott, Hoffmann-La Roche Ltd, Illumina, Inc. are targeting? Data Bridge Market Research has forecasted a large growth in Asia Pacific molecular diagnostics market and the market leaders targeting India and Philippines to be their next pocket revenue for 2021.

The molecular diagnostics market is becoming more competitive with companies like Abbott, Hoffmann-La Roche Ltd, Illumina, Inc.  These are the top dominating companies in molecular diagnostics market and have launched new molecular diagnostics products in the market. The data bridge market research new reports highlight the major growth factors and opportunities in the global molecular diagnostics market.

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Molecular diagnostics Market Developments

  • In August 2020, Abbott got approval from FDA for 15 minutes test for COVID-19 from Abbott for USD 5, and it doesn’t require special equipment. This approval helped the company in conducting COVID-19 test and to gain more consumers.
  • In April 2021, F. Hoffmann-La Roche Ltd launched five new intended uses for key cardiac biomarkers using Elecsys technology to help identify cardiovascular risk, better diagnose patients and support early treatment.
  • In 2020, Illumina, Inc. collaborated with Roche and Software Suite to accelerate NGS-based in-vitro diagnostic (IVD) tests on Illumina’s diagnostic (Dx) sequencing systems. This collaboration helped the company in enhancing its product portfolio.

Key Pointers Covered in Molecular diagnostics Market Industry Trends and Forecast to 2028

  • Market Size
  • Top to Bottom Market Analysis
  • Recent Developments for Market Competitors
  • Recent Market Value for Different Countries
  • Market value and over view of Molecular diagnostics market
  • Company profiling of top eight players of Molecular diagnostics market

Key Market Competitors Covered in the Report

  • Abbott
  • Siemens Healthcare GmbH
  • Thermo Fisher Scientific Inc.
  • BD
  • bioMérieux SA
  • Cepheid
  • Hologic, Inc.
  • Life Technologies
  • Myriad Genetics, Inc.
  • Agilent Technologies, Inc.
  • Quidel Corporation
  • Beckman Coulter, Inc.
  • Bio-Rad Laboratories, Inc.
  • Illumina, Inc.
  • Luminex Corporation
  • Meridian Bioscience
  • Hoffmann-La Roche Ltd
  • GenMark Diagnostics, Inc.

Above are the key players covered in the report, to know about more and exhaustive list of molecular diagnostics companies’, contact us

Research Methodology: Global Molecular diagnostics Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Manufacturer, Researcher, Hospitals
  • Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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