Abbott, F. Hoffmann-La Roche Ltd, Illumina, Inc. are Dominating the Global Molecular Diagnostics Market in 2020

Global Molecular Diagnostics Market is expected to grow with the CAGR of 6.0% in the forecast period of 2021 to 2028. The year considered for study are as mentioned below.

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Global molecular diagnostics market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global molecular diagnostics market are introducing strong range of products provider along with launching new certificates and adopting strategic initiative such as acquisition, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance:

  • In September 2020, Illumina, Inc. acquired GRAIL for USD 8 Billion to launch a new era of cancer detection. This acquisition helped the company in strengthening its research on cancer detection.

Abbott is the dominating player in global molecular diagnostics market. The other key players existing in the market are Siemens Healthcare GmbH, Thermo Fisher Scientific Inc., BD, bioMérieux SA, Cepheid, Hologic, Inc., Life Technologies, Myriad Genetics, Inc., QIAGEN, Agilent Technologies, Inc., Quidel Corporation, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Illumina, Inc., IMMUCOR, Luminex Corporation, Meridian Bioscience, Hoffmann-La Roche Ltd, and GenMark Diagnostics, Inc.

Molecular Diagnostics Market Abbott

Abbott, founded in the year 1903, headquarter is in Illinois, U.S. The company is focused on delivering instruments and assay solutions too provide early diagnosis of diseases and for selection of appropriate therapies and to monitor diseases recurrence. The company has several product categories including Featured Products, Instrumentation, Infectious Disease, Informatics, Oncology, Genetics & Genomics in which Instrumentation, Infectious Disease, Oncology is the market focused category.

For instance,

  • 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

The company has wide presence across Asia-Pacific, Europe, America, South Africa and Middle East.

F. Hoffmann-La Roche Ltd

F. Hoffmann-La Roche Ltd, founded in the year 1896, headquarter in Basel, Switzerland. Their main focus of the company is on developing and integrating diagnostic solutions covering molecular diagnostics, clinical chemistry, immunoassays, tissue diagnostics, point of care testing, patient self-testing, next-generation sequencing, and laboratory automation and IT, and decision support solutions. The comp any operates its business via several business segments including Pharmaceuticals, Diagnostics in which Diagnostics is the market focused segment.

For instance,

  • 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. This new product launch helped the company expanding its product portfolio.

The company has presence across Europe, North America, Asia-Pacific, Africa.

Illumina, Inc.

Illumina, Inc. founded in the year 1998, headquarter in California, U.S. The main focus of the company on development and manufacturing of integrated systems for the analysis of genetic variation and biological function. The company has product category in segments including Instruments, Kits & Reagents, Selection Tools, Software & Analysis, Services  in which Instruments, Kits & Reagents, Software & Analysis, Services is the market focused category.

For instance,

  • 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.

The company has presence across Europe, Americas, Asia-Pacific, Middle East and Africa.