Molecular Diagnostics Market, by Product Type (Reagents & Kits and Instruments), by Application (Oncology, Genetic Testing, Microbiology, STDs, Blood Screening, Virology, Tissue Typing, Prenatal Diagnosis, and Others), by End User (Hospitals, Diagnostic Laboratories, Academic and Research Labs, and Other), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Molecular diagnostics is used for detection in various applications such as oncology, genetic testing, microbiology, STDs, blood screening, virology, tissue typing, and prenatal diagnostics. Molecular diagnostics are laboratory tests, conducted to identify a disease by analyzing DNA, RNA or proteins in humans. Furthermore, the reagent and kits for molecular diagnostics kits vary according to the application, as the kits consists of probes that are directed against specific sequence of viruses, bacteria, and parasites. Increasing use of biomarker specific testing kits is expected to foster growth of the molecular diagnostics market, as these tests are useful prior to initiation of any therapy or treatment.
The global molecular diagnostics market is projected to witness significant growth over the forecast period, owing to rapid advancements in technology for development of novel biomarkers. For instance, in June 2017, Qiagen N.V. expanded its biomarker content portfolio by adding new biomarkers for microsatellite instability (MSI) and Mismatch repair (MMR) in its NGS panels. This extension in the product portfolio was done to cater to growing demand for molecular diagnostics for immuno-oncology therapies.
Furthermore, precision medicine aids in treatment of diseases and prevention based on individual’s genes, lifestyle, and environment. This helps to offer proper treatment, which has led to high demand for precision medicine, in turn, favoring growth of the market.
However, stringent regulation by FDA to regulate molecular diagnostic tests is expected to be major factor restraining growth of the market. The FDA regulates molecular diagnostic tests in various ways, including in some instances, wherein, certain tests require regulatory pathways as complex as Class III medical devices.
Key features of the study:
- This report provides in-depth analysis of the molecular diagnostics market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2022 – 2030, considering 2021 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global molecular diagnostics market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
- Key companies covered as a part of this study include Abbott Laboratories, Hologic,Inc., Grifols, S.A., Qiagen N.V., F. Hoffmann-La Roche Ltd., Siemens Healthineers, Becton, Dickinson and Company, and Beckman Coulter, Inc.
- Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, governmental initiatives, technological up-gradation, market expansion, and marketing tactics.
- The global molecular diagnostics market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors and suppliers for molecular diagnostics market, research and consulting firms, new entrants, and financial analysts.
- Global Molecular Diagnostics Market, By Product Type:
- Reagents & Kits (Consumables)
- Global Molecular Diagnostics Market, By Application
- Genetic Testing
- Blood Screening
- Tissue Typing
- Prenatal Diagnosis
- Global Molecular Diagnostics Market, By End User:
- Diagnostic Laboratories
- Academic and Research Labs
- Global Molecular Diagnostics Market, By Region:
- North America
- North America Molecular Diagnostics Market, By Country
- Europe Molecular Diagnostics Market, By Country
- Rest of Europe
- Asia Pacific
- Asia Pacific Molecular Diagnostics Market, By Country
- South Korea
- Rest of Asia Pacific
- Latin America
- Latin America Molecular Diagnostics Market, By Country
- Rest of Latin America
- Middle East
- Middle East Molecular Diagnostics Market, By Country
- Rest of Middle East
- Africa Molecular Diagnostics Market, By Country
- North Africa
- Central Africa
- South Africa
- Company Profiles
- Abbott Laboratories *
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Hologic, Inc.
- Grifols, S.A.
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- Siemens Healthineers
- Becton, Dickinson and Company
- Beckman Coulter, Inc.
“*” marked represents similar segmentation in other categories in the respective section.