The Increasing Occurrence of Chronic and Infectious Diseases is Anticipated to Boost the Growth of Global Molecular Diagnostics Services Market

Currently, chronic and infectious diseases are the primary cause of death among adults in almost all countries. The incidence of these diseases is growing, thus which, people are more dependent on diagnostics labs and centers for disease diagnosis. The increasing awareness among consumers about easy and quick diagnostics is growing, and their adoption of analyzer software for molecular diagnostics is increasing fast. As per a study published by CDC in September 2020, there is an increase in the total percentage of U.S. adults with multiple chronic conditions along with variation by population subgroups

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Data Bridge Market Research analyses that the Global Molecular Diagnostics Services Market is expected to reach USD 221,850.59 million by 2030 from USD 130,516.28 million in 2022, growing at a CAGR of 7.9% in the forecast period of 2023 to 2030. The increasing demand for molecular diagnostics services across the pharmaceutical sector will provide potential opportunities for market growth in the forecast period.

Higher demand of testing, therapies and faster diagnostics is expected to drive the market's growth rate

The increasing demand for high-priced specialist therapies is more in the current scenario. The increasing awareness among consumers about faster diagnostics and their rising adoption of analyzer software for molecular diagnostics is growing at a higher rate. Molecular diagnostics provide accurate and effective results and have essential applications in disease diagnostics. People are recommending personalized medications that depend on identifying the individual's epigenomic, genetic, and clinical information.

For instance,

• In August 2020, an article published in NCBI showed how molecular diagnosis has become important in China for the identification of the COVID-19 virus

Report Scope and Market Segmentation

Segment Analysis:

The global molecular diagnostics services market is categorized into three notable segments such as service type, technology, and end users.

• Based on service type, the market is segmented into instrument repair services, training services, compliance services, calibration services, maintenance services, scalable automation services, turnkey services, instrument relocation services, hardware customization, performance assurance services, design and development services, supply chain solutions, new product introduction services, manufacturing services, environmental & regulatory services, medical management systems certification & auditing, clinical research services, consultative services, and other services.

The instrument repair services segment of service type is anticipated to dominate the molecular diagnostics services market

The instrument repair services segment is expected to dominate the global molecular diagnostics services market with a CAGR of 9.5% in the forecast period of 2023 to 2030 as this type of service is typically used in numerous regions across the globe

• Based on technology, the market is segmented into PCR, real time PCR, next generation sequencing, and other technologies

The real time PCR segment of technology type is anticipated to dominate the molecular diagnostics services market

Real time PCR segment is expected to dominate the global molecular diagnostics services market a CAGR of 8.2% in the forecast period of 2023 to 2030 as this type of service has higher demand in the market

• Based on end user, the market is segmented into hospitals, diagnostic centers, academic & research institutions, and others. The hospitals segment is expected to dominate the global molecular diagnostics services market with a CAGR of 8.3% in the forecast period of 2023 to 2030 as this type of end user has more demand for molecular diagnostics services in the market

Major Players

Data Bridge Market Research recognizes the following companies as the major molecular diagnostics services market players in molecular diagnostics services market F. Hoffmann-La Roche Ltd (Switzerland), Danaher. (U.S.),, QIAGEN (Germany), Thermo Fisher Scientific Inc. (U.S.), Abbott (U.S.), bioMérieux S.A. (France), and Hologic, Inc. (U.S.).

Market Development

• In 2021, Magellan Diagnostics expanded the voluntary recall of LeadCare Test Kit.
• In 2022, Roche introduces the Cobas 5800 to expand access to polymerase chain reaction testing in the U.S.
• In October 2022, F. Hoffmann-La Roche Ltd launched its next-generation portfolio of SARS-CoV-2 rapid antigen test ("2.0") under CE Mark for self-test and professional use. This has aided the company in providing good services to consumers through such innovations.

 Regional Analysis

Geographically, the countries covered in the molecular diagnostics services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in molecular diagnostics services market during the forecast period 2023 to 2030

North America dominates the molecular diagnostics services market due to the increase in market players and the wide availability of numerous advanced molecular diagnostics services in the market. The number of government and private collaborations has surged in the market, further increasing market growth.

Asia-Pacific is estimated to be the fastest-growing region in molecular diagnostics services market the forecast period 2023 to 2030

Asia-Pacific is expected to grow during the forecast period of 2023 to 2030. This is mainly because of the usage of advanced diagnostic technologies and increase in the number of biotechnology laboratories in this region.

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