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Molecular Diagnostics Market - By Product (Instruments, Reagents & Kits), By Technology (Polymerase Chain Reaction, Hybridization, Sequencing, Microarrays), By Application (Infectious Disease Diagnostics), By End-use & Forecast, 2023-2032


Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Molecular Diagnostics Market - By Product (Instruments, Reagents & Kits), By Technology (Polymerase Chain Reaction, Hybridization, Sequencing, Microarrays), By Application (Infectious Disease Diagnostics), By End-use & Forecast, 2023-2032

Molecular Diagnostics Market Size

Molecular Diagnostics Market size was worth USD 25 billion in 2022 and is projected to record more than 3.5% CAGR from 2023-2032. Increasing awareness regarding early disease diagnostics will accelerate industry growth.
 

Molecular Diagnostics Market

The market for point of care molecular diagnostics is likely to surpass USD 90 billion by 2032. Growing awareness regarding early disease diagnosis and advancements in automated technologies are expected to positively influence market outlook. New-generation diagnostic solutions are offering superior levels of accuracy, convenience of use, and portability enabling early detection of an array of infectious diseases. With the rising prevalence of infectious diseases and chronic illnesses such as cancer, molecular diagnosis has emerged as a vital tool in disease management and therapy. Furthermore, the growing emphasis on precision medicine is encouraging manufacturers to design high-performance testing solutions.

Lack of robust regulatory framework to hinder industry progress

Dearth of a streamlined regulatory framework and uniform guidelines may hamper the scope of molecular diagnostics market share. A uniform regulatory framework helps eliminate uncertainties for companies working toward the commercialization of novel drugs and therapies. However, the current challenges are causing delays in product development and market approval, forcing companies to increase their expenditure. The U.S. FDA also provides three pathways for the approval of molecular diagnostic technology based on the similarities between existing and new systems. This may limit patient access to modern and more sophisticated diagnostics technologies, negatively influencing overall industry dynamics.  
 

Molecular Diagnostics Market Analysis

Global Molecular Diagnostics Market, By Product

Molecular diagnostics market value from PCR technology is estimated to surpass USD 22 billion by 2032. New breakthroughs in target-specific PCR systems are providing higher levels of amplification along with simultaneous detection of pathogen DNA. Additionally, PCR has an extensive range of applications in the space of healthcare and research. The technology is primarily used in the effective management of health problems such as caries, endodontic infections, oral cancer, and periodontal disease.
 

Global Molecular Diagnostics Market, By Technology

Molecular diagnostics market size from hospitals & clinics is anticipated to exhibit more than 3.5% CAGR between 2023 and 2032. Due to the growing disease burden, the emergence of novel epidemics & pandemics, and the increasing spending on healthcare infrastructure, the network of hospitals & clinics worldwide is set to expand significantly.
 

North America Molecular Diagnostics Market

North America molecular diagnostics market size is slated to exceed USD 15 billion by 2032. North America is predicted to emerge as a hub for molecular diagnostics due to the increasing number of infectious disease outbreaks and the growing geriatric population. As per data from the Centers for Disease Control & Prevention (CDC), respiratory syncytial virus (RSV) infections lead to the hospitalization of more than 60,000-120,000 older adults in the U.S. each year with more than 6,000 deaths.
 

Molecular Diagnostics Market Share

Some of the leading companies in the molecular diagnostics market include

  • Qiagen
  •  Agilent Technologies Inc
  •  bioMerieux SA
  •  Quidel Corporation
  •  Biocartis
  •  Bio-Rad Laboratories 
  • F. Hoffmann-La Roche AG
  •  Danaher Corporation
  •  Hologic Inc
  •  Becton
  •  Dickinson and Company
  •  Illumina Inc
  •  Sysmex Corporation
  •  Siemens Healthineers
  •  Abbott Laboratories
  •  Thermo Fisher Scientific Inc

 These firms are foraying into strategic alliances to extend collaboration and boost innovation.
 

Impact of the COVID-19 pandemic

The COVID-19 pandemic had a positive impact on the market with an upsurge in the demand for testing kits to detect infected patients and prevent the further spread of the virus. COVID-19 diagnostic testing solutions such as Abbott ID NOW and Cepheid GeneXpert have gained significant momentum owing to the rapid influx of government-funded R&D initiatives focusing on the development of novel solutions to counter the unprecedented crisis. In the wake of the pandemic, several regulatory agencies such as the U.S. Food & Drug Administration (FDA), and the European Commission also fostered scope for research and application of new molecular diagnostic tests.
 

The molecular diagnostics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

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By Product

  • Instruments
  • Reagents & kits

By Technology

  • Polymerase chain reaction [PCR]
  • Hybridization
  • Sequencing
  • Isothermal nucleic acid amplification technology [INAAT]
  • Microarrays

By Application

  • Infectious disease diagnostics
    • COVID-19
    • HIV
    • CT/NG
    • Hepatitis B
    • Hepatitis C
    • RSV
    • Flu
    • Tuberculosis
    • Others
  • Oncology testing
  • Genetic disease testing
  • Others

By End-use

  • Diagnostics laboratories
  • Hospitals & clinics
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Switzerland
    • Sweden
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Indonesia
    • Thailand
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Others
  • Middle East
    • Saudi Arabia
    • UAE
    • Kuwait
    • Turkey
    • Israel
    • Qatar
    • Others
  • Africa
    • South Africa
    • Egypt
    • Morocco
    • Nigeria
    • Others

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )