Global Molecular Diagnostics Market, By Products (Reagents and Kits, Instruments, Services and Software), Technology (Mass Spectrometry (MS), Capillary Electrophoresis, Next Generation Sequencing (NGS), Chips And Microarray, Polymerase Chain Reaction (PCR)-Based Methods, Cytogenetics, In Situ Hybridization (ISH or FISH), Molecular Imaging, Others), Application (Oncology, Pharmacogenomics, Microbiology, Prenatal Tests, Tissue Typing, Blood Screening, Cardiovascular Diseases, Neurological Diseases, Infectious Diseases, Others), End User (Hospital, Clinical Laboratories, Academics) – Industry Trends and Forecast to 2029
Global Molecular Diagnostics Market Analysis and Size
The increasing prevalence of infectious diseases and cancer across the globe, has increased the adoption of molecular diagnostics. The key players are now focused on technological advances in molecular diagnostics and are also indulging in collaboration and partnerships with other organizations. Consequently, these growth determinants will aid market to show substantial growth over the forecasted period.
- Global Molecular Diagnostics Market was valued at USD 17.8 billion in 2021 and is expected to reach USD 46.65 billion by 2029, registering a CAGR of 12.8% during the forecast period of 2022-2029. The "reagents and kits" accounts for the largest products segment in the molecular diagnostics market within the forecasted period owing to the frequent purchase of these products due to their recurrent usage. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Molecular Diagnostics Market Definition
Molecular diagnosis can identify diseases such as infectious diseases, hereditary diseases, cardiovascular diseases, neurological diseases, and others by investigating molecules such as DNA, RNA, and protein in a tissue or a fluid. Several methods such as PCR, mass spectrometry, next-generation sequencing, cytogenetics, in situ hybridization, molecular imaging, and others are utilized to diagnose various diseases. To evaluate an individual's susceptibility to particular diseases or the stage of an existing disease, molecular diagnostics employs strong technologies such as gene expression profiling, DNA sequence analysis, and biomarker identification. Thanks to modern technologies, it provides the greatest therapy for patients, and the diagnosis process has grown faster and more efficient.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Products (Reagents and Kits, Instruments, Services and Software), Technology (Mass Spectrometry (MS), Capillary Electrophoresis, Next Generation Sequencing (NGS), Chips And Microarray, Polymerase Chain Reaction (PCR)-Based Methods, Cytogenetics, In Situ Hybridization (ISH or FISH), Molecular Imaging, Others), Application (Oncology, Pharmacogenomics, Microbiology, Prenatal Tests, Tissue Typing, Blood Screening, Cardiovascular Diseases, Neurological Diseases, Infectious Diseases, Others), End User (Hospital, Clinical Laboratories, Academics)
U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
Market Players Covered
F. Hoffmann-La Roche Ltd(Switzerland), Hologic, Inc., (U.S), bioMérieux (France), Abbott (U.S), QIAGEN (Netherlands), Thermo Fisher Scientific (U.S), Siemens (Germany), Danaher (U.S), Myriad Genetics Inc. (US), Illumina Inc. (U.S), Agilent Technologies Inc. (US), BD (U.S), DiaSorin S.p.A (Italy), Grifols S.A. (Spain), Quidel Corporation(US), Genetic Signatures (Australia), MDxHealth, Inc. (US), Exact Sciences Corporation (US), Biocartis (Belgium), TBG Diagnostics Limited (Australia), GenMark Diagnostics Inc. (US), Luminex Corporation (U.S), HTG Molecular Diagnostics Inc. (US), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), Molbio Diagnostics Pvt. Ltd. (India) and geneOmbio (India)
Molecular Diagnostics Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Growing Burden Of Diseases
The growing burden of COVID-19 patients coupled with an increase in infectious disease and cancer prevalence are the most significant factors driving this market's growth. The demand for molecular diagnostics tools is increasing to diagnose various types of diseases worldwide, which are also expected to accelerate the market's overall growth.
- Increasing Demand for Testing, Therapies and Faster Diagnostics
Furthermore, the surging demand for point-of-care testing along with the increase in the demand for high-priced specialist therapies and safer drugs are also expected to fuel market growth. Moreover, the rising consumer awareness about faster diagnostics and rising adoption of analyzer software for molecular diagnostics also cushions the market's growth within the forecasted period.
Furthermore, the growing trend for preventive medicine, rising initiatives by market players to improve access to cost-effective resources and growing importance of companion diagnostics are also projected to bolster the growth of the market.
- The Funding and Developments Will Provide Opportunities
Moreover, with various technological developments that are launching new products with highly efficient technology to offer the best possible treatment on time are estimated to generate lucrative opportunities for the market. Increasing research and development for the identification of biomarkers have led to the development of new molecular diagnostic tests A surge in funding by governmental bodies and private authorities to develop molecular diagnostics products will further create growth opportunities for the market.
Restraints/Challenges Global Molecular Diagnostics Market
- High Costs of Instruments
These instruments are very expensive. Moreover, the maintenance and insurance, laboratory supervision, and overhead costs (including utilities, space, and administration) are additional expenses. Therefore, the high cost of instrumentation is expected to obstruct market growth.
- Stringent Regulations
Also, the stringent rules laid down by governmental bodies for the approval of molecular diagnostics products are projected to challenge the molecular diagnostics market in the forecast period of 2022-2029.
The high competition within the market and the disturbed supply chain due to the COVID-19 pandemic will also impede market growth.
This molecular diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the molecular diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post Covid-19 Impact on Molecular Diagnostics Market
Healthcare sector was immensely impacted due to outbreak of the COVID-19 pandemic. COVID-19 had a negative impact on the total sales but overall the effect was moderate as there was increased demand for molecular diagnostic technologies for COVID-19 testing. With the COVID-19 pandemic, dealing with infectious disease has become a major medical concern around the world. There is an increasing demand for the development of more precise and simple testing methods and the expansion of testing structures. Lockdowns triggered by the COVID-19 epidemic forced people to put off getting their health checked, reducing the amount of tests performed and reagent sales. However, as governments increasingly loosen travel restrictions, there is a rebound in testing numbers. With the COVID-19 pandemic, dealing with infectious disease has become a major medical concern around the world. Aside from vaccinations and therapeutic medications, there is an increasing demand for the development of more precise and simple testing methods and the expansion of testing structures.
- In July 2020, Roche Diagnostics India launched the Cobas 8800 instrument at the National Institute of Cholera and Enteric Diseases, Kolkata, and Cobas 6800, to aid with SARS CoV-2 diagnostic testing. The Roche Cobas 6800/8800 systems deliver test findings in three and a half hours and enable greater operational efficiency, flexibility, and the quickest time-to-results.
Global Molecular Diagnostics Market Scope
The molecular diagnostics market is segmented on the basis of products, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Reagents and Kits
- Services and Software
On the basis of products, the molecular diagnostics market is segmented into reagents and kits, instruments and services and software. The instruments are sub-segmented into tabletop instruments and portable and PoC instruments. Reagents and kits accounts for the largest market share owing to the frequent purchase of these products due to their recurrent usage.
- Mass Spectrometry (MS)
- Capillary Electrophoresis
- Next Generation Sequencing (NGS)
- Chips and Microarray
- Polymerase Chain Reaction (PCR)-Based Methods
- In Situ Hybridization (ISH or FISH)
- Molecular Imaging
On the basis of technology, the molecular diagnostics market is segmented into mass spectrometry (MS), capillary electrophoresis, next generation sequencing (NGS), chips and microarray, polymerase chain reaction (PCR)-based methods, cytogenetics, in situ hybridization (ISH or FISH), molecular imaging and others.
- Prenatal Tests
- Tissue Typing
- Blood Screening
- Cardiovascular Diseases
- Neurological Diseases
- Infectious Diseases
On the basis of application, the molecular diagnostics market is segmented into oncology, pharmacogenomics, microbiology, prenatal tests, tissue typing, blood screening, cardiovascular diseases, neurological diseases, infectious diseases and others. Oncology is sub-segmented into breast cancer, colorectal cancer, lung cancer, prostate cancer and other cancers. The infectious diseases are sub-segmented into COVID-19, hepatitis, HIV, CT/NG, HAI, HPV, tuberculosis, influenza and others.
- Clinical Laboratories
On the basis of end user, the molecular diagnostics market is bifurcated into hospital, clinical laboratories and academics.
Molecular Diagnostics Market Regional Analysis/Insights
The molecular diagnostics market is analyzed and market size insights and trends are provided by country, products, technology, application and end user as referenced above.
The countries covered in the molecular diagnostics 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.
North America dominates the molecular diagnostics market because of the increased per capita healthcare expenditure and high demand for better healthcare facilities within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the high geriatric population, increasing prevalence of cancer and infectious disease in countries such as India and China, and the developing healthcare infrastructure within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The molecular diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for molecular diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the molecular diagnostics market. The data is available for historic period 2010-2020.
Competitive Landscape and Molecular Diagnostics Market Share Analysis
The molecular diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to molecular diagnostics market.
Some of the major players operating in the molecular diagnostics market are F. Hoffmann-La Roche Ltd., (Switzerland), Hologic, Inc. (U.S), bioMérieux (France), Abbott (U.S), QIAGEN (Netherlands), Thermo Fisher Scientific (U.S), Siemens (Germany), Danaher (U.S), Myriad Genetics Inc. (US), Illumina Inc. (US), Agilent Technologies Inc. (U.S), BD (U.S), DiaSorin S.p.A (Italy), Grifols S.A. (Spain), Quidel Corporation(US), Genetic Signatures (Australia), MDxHealth, Inc. (US), Exact Sciences Corporation (US), Biocartis (Belgium), TBG Diagnostics Limited (Australia), GenMark Diagnostics Inc. (US), Luminex Corporation (U.S), HTG Molecular Diagnostics Inc. (US), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), Molbio Diagnostics Pvt. Ltd., (India) and geneOmbio (India) among others.
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 estimated 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 inquiry.
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, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-molecular-diagnostics-market