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 2030.
Molecular Diagnostics Market Analysis and Size
The growing incidence of infectious diseases and cancer globally has increased the adoption of molecular diagnostics. The major market players are now primarily focused on technological advances in molecular diagnostics. Also, it has been witnessed during COVID-19 that the diagnostics industry faced much growth, with a race to develop novel and rapid diagnostics kits for the detection of coronavirus. In 2021, a 59% rise in revenue was reported by Thermo Fisher Scientific due to the diagnostics division that delivered 150% growth.
Data Bridge Market Research analyses that the molecular diagnostics market, which was USD 20.1 billion in 2022, would rise to USD 54.76 billion by 2030 and is expected to undergo a CAGR of 13.3% during the forecast period from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Molecular Diagnostics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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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. (U.S.), Illumina Inc. (U.S.), Agilent Technologies Inc. (U.S.), BD (U.S.), DiaSorin S.p.A (Italy), Grifols S.A. (Spain), Quidel Corporation (U.S.), Genetic Signatures (Australia), MDxHealth, Inc. (U.S.), Exact Sciences Corporation (U.S.), Biocartis (Belgium), TBG Diagnostics Limited (Australia), GenMark Diagnostics Inc. (U.S.), Luminex Corporation (U.S.), HTG Molecular Diagnostics Inc. (U.S.), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), Molbio Diagnostics Pvt. Ltd. (India) geneOmbio (India)
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Market Opportunities
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Market Definition
Molecular diagnosis can detect the diseases such as hereditary diseases, infectious diseases, neurological diseases, cardiovascular diseases, and others by examining molecules such as DNA, RNA, and protein in a tissue or a fluid. Numerous methods, such as mass spectrometry, PCR, next-generation sequencing, in situ hybridization, molecular imaging, and others, are used to diagnose several diseases. Molecular diagnostics uses strong technologies such as DNA sequence analysis, gene expression profiling, and biomarker identification to identify disorders correctly.
Global Molecular Diagnostics Market Dynamics
Drivers
- Increasing Elderly Population
The increasing geriatric population worldwide is surging the risk of getting several diseases, such as cardiovascular diseases, cancer, obesity, neurological disorders, and diabetes. As per the UN report, in 2020, there were around 727 million people aged 65 years and above worldwide. In addition to this, the number of individuals aged 80 years and above is anticipated to double by 2050. The geriatric population is more likely to suffer from multiple diseases due to multimorbidity, decreased immune function, and aging-related physiological changes. Thus, this factor boosts market growth.
- High Usage of PCR
PCR is highly used in CROs, research institutes, and hospitals, enhancing the market growth rate. The growing use of high-throughput PCR technology to detect infectious and genetic diseases is anticipated to surge market growth. For instance, Seegene announced the launch of its upcoming Allplex SARS-CoV-2 Fast PCR Assay in 2022. The test has a turnaround time of 60 minutes and thus is appropriate for mass testing. Thus, this factor boosts market growth.
Opportunities
- Increasing Demand for Molecular Diagnostics in Point-of-Care Setting
In recent years, molecular diagnostic platforms have been widely used in PoC settings. Numerous companies are designing molecular diagnostic platforms and assays for POC or near-patient testing. In addition to this, the increasing development of new assays that provide quick PoC results is estimated to enhance market growth. For instance, Abbott launched a molecular point of care test, the ID NOW COVID-19 test, to diagnose COVID-19 in less than 5 minutes in 2020. Thus, this factor boosts market growth.
- Increasing Prevalence of HIV
The increasing incidence of infectious diseases is anticipated to boost market growth over the forecast period. The growing occurrence of STIs, such as HIV and HPV, is anticipated to enhance the market growth as all these diseases demand a high rate of molecular tests. As per the WHO records, the prevalence of HIV was approximately 37.7 million and 1.5 million, respectively, in 2020. Additionally, people who have HIV are highly vulnerable to other infections, such as tuberculosis. All these infectious diseases demand multiple molecular tests, which will further help in faster treatment processes. Thus, this factor boosts market growth.
Restraints/Challenges
- Increasing Regulatory Approvals
The regulatory framework for approval is the main limiting factor in the market's growth. Many times, inaccurate results may be attained because of some fault in the diagnostic kits or an untrained person performing the test. Thus, strict regulation has been related to the approval process. Thus, this factor is restricting the 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.
Recent Development
- In 2020, Roche Diagnostics India launched the Cobas 8800 and the Cobas 6800 at the National Institute of Cholera and Enteric Diseases, Kolkata, to help the SARS CoV-2 diagnostic testing. The Roche Cobas 6800/8800 systems deliver test findings in a time of three and a half hours and allow greater operational efficiency, flexibility, and the quickest time-to-results.
- In 2021, Roche completed the acquisition of TIB Molbiol Group. TIB Molbiol Group has about 45 CE-IVD-approved assays for diagnosing inherited genetic testing, infectious diseases, transplant medicine, and hematology testing.
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.
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
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Prostate Cancer
- Other Cancers
- Pharmacogenomics
- Microbiology
- Prenatal Tests
- Tissue Typing
- Blood Screening
- Cardiovascular Diseases
- Neurological Diseases
- Infectious Diseases
- COVID-19
- Hepatitis
- HIV
- CT/NG
- HAI
- HPV
- Tuberculosis
- Influenza
- Others
- Others
End User
- Hospital
- Clinical Laboratories
- Academics
Molecular Diagnostics Market Regional Analysis/Insights
The molecular diagnostics market is analyzed and market size insights and trends are provided by 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 increasing demand for better healthcare facilities. Also, a high standard of living and consumer awareness about early diagnosis, and the well-established healthcare system are major factors for the market growth.
Asia-Pacific is expected to witness significant growth due to the high elderly population, growing incidence of cancer and varied infectious disease in countries such as China and India, and the advanced 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 2011-2021.
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. (U.S.)
- Illumina Inc. (U.S.)
- Agilent Technologies Inc. (U.S.)
- BD (U.S), DiaSorin S.p.A (Italy)
- Grifols S.A. (Spain)
- Quidel Corporation(U.S.)
- Genetic Signatures (Australia)
- MDxHealth, Inc. (U.S.)
- Exact Sciences Corporation (U.S.)
- Biocartis (Belgium)
- TBG Diagnostics Limited (Australia)
- GenMark Diagnostics Inc. (U.S.)
- Luminex Corporation (U.S.)
- HTG Molecular Diagnostics Inc. (U.S.)
- Vela Diagnostics (Singapore)
- Amoy Diagnostics Co., Ltd. (China)
- Molbio Diagnostics Pvt. Ltd. (India)
- geneOmbio (India)
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