Molecular Diagnostics Market size will reach US$ 28.17 Billion by 2030. To develop effective rapid diagnostics, developers are increasingly moving away from the classical methods requiring the culture of the pathogens and turning to scientific advances from various fields. One of the fastest-growing areas in infectious disease identification is molecular diagnostics, which includes techniques such as DNA (deoxyribonucleic acid) microarray analysis, mass spectrometry, and nucleic acid amplification.
The global increase in the elderly population and the emergence of various diseases has fueled market growth. A surge in conditions such as cancer, cardiovascular diseases, neurological disorders, diabetes, and obesity, often linked to the ageing population, is propelling market expansion. In 2023, the National Institutes of Health projects approximately 1,958,310 cancer cases in the United States, intensifying the global demand for early diagnosis. Molecular diagnostics is pivotal in early cancer detection, enabling healthcare providers to initiate treatment before symptoms manifest and addressing cancer's significant global impact on morbidity and mortality.
Molecular Diagnostics Market will grow at a CAGR of 7.40% from 2023 to 2030
The market is expected to experience significant growth due to the increasing incidence of infectious diseases during the forecast period. Notably, the rising prevalence of sexually transmitted infections (STIs) such as HIV and HPV is expanding the target population, contributing to market expansion. According to the India TB Report 2022, the number of reported incident TB cases in India increased from 1,628,161 in 2020 to 1,933,381 in 2021, indicating a growing patient pool and heightened demand for molecular diagnostics.
Furthermore, individuals living with HIV are highly susceptible to other infections, particularly tuberculosis, which remains a leading cause of death among this population. Globally, the incidence of infectious diseases like HIV is on the rise, with approximately 38.4 million people worldwide diagnosed with HIV in 2021, as reported by UNAIDS in August 2022. This increased prevalence of infectious diseases is expected to drive Global Molecular Diagnostics Market growth as molecular diagnostics for HIV gain wider adoption.
Market players' efforts to enhance access to cost-effective resources are anticipated to drive growth in the molecular diagnostics market. Molecular diagnostics tests offer precise and effective results, crucial in disease diagnostics. However, the relatively high costs associated with these tests have posed a challenge. Nevertheless, ongoing research and development efforts and technological advancements in molecular diagnostics are expected to fuel market expansion. Additionally, improvements in companion diagnostics and opportunities in emerging economies present significant growth prospects for companies operating in the molecular diagnostics market share. The molecular diagnostics market was valued at US$ 17.09 Billion in 2023.
Reagents segment is poised to maintain its leading position in the foreseeable future
Products segment the Molecular Diagnostic Market into Reagents& kits, Instruments and Software& Services. The reagents segment is well-positioned to uphold its top-ranking status in the molecular diagnostics market. This is attributed to ongoing advancements in research and development, especially in pharmaceuticals and biotechnology, which drive the demand for high-quality reagents.
Additionally, the critical role of reagents in facilitating precise and efficient molecular diagnostic tests ensures their continued prominence. As molecular diagnostics continues to expand in various applications, including disease diagnosis and genetic testing, the reliance on reagents as fundamental components is expected to solidify its leading position within this dynamic market.
Oncology sector is expected to have a substantial CAGR in the molecular diagnostics market forecast
By Application, Molecular Diagnostic Market is divided into Oncology, Infectious Disease, Genetic Testing, Blood Screening and Other Applications. The oncology sector is poised to claim a significant portion of the molecular diagnostics market. With a growing emphasis on early cancer detection and personalized treatment approaches, the demand for molecular diagnostics in oncology remains robust. This sector is pivotal in detecting specific genetic markers and mutations associated with various cancers, guiding treatment decisions, and monitoring disease progression. As the importance of precision medicine continues to rise, the oncology segment's substantial presence is expected to persist, reflecting its vital contribution to improving cancer diagnosis, prognosis, and treatment outcomes in the healthcare landscape.
Polymerase chain reaction (PCR) segment held the highest revenue share
By Technology, the Molecular Diagnostic Market is classified into Polymerase Chain Reaction, Hybridization, Isothermal Nucleic Amplification Technology (INAAT), Chips & Microarrays, DNA Sequencing and Others (Mass Spectrometry, TMA). The molecular diagnostics market is poised for significant expansion, driven by the increasing adoption of PCR technology for detecting a wide range of infectious and genetic diseases.
PCR's precision and sensitivity make it a crucial tool for diagnosing infectious diseases and genetic disorders. As healthcare providers and researchers increasingly rely on this Technology for accurate and timely diagnoses, its contribution to market growth becomes more pronounced. This trend underscores the pivotal role of PCR in advancing molecular diagnostics, ultimately benefiting patient care and disease management across diverse medical fields.
Diagnostics Laboratories sector is expected to maintain its ongoing trajectory throughout the forecast period in the molecular diagnostics market
By End User, the Molecular Diagnostic Market is sub-segmented into Hospitals & Clinics, Diagnostics Laboratories and Others. The Diagnostics Laboratories sector is projected to sustain its revenue share within the molecular diagnostics market. With a strong presence in the healthcare landscape, diagnostic laboratories are instrumental in conducting molecular diagnostic tests. These laboratories offer crucial services for accurate disease detection, personalized medicine, and genetic profiling. As the demand for molecular diagnostics grows across various medical disciplines, diagnostic laboratories remain pivotal players. Their ability to deliver precise and timely results is expected to ensure the sector's consistent contribution to the molecular diagnostics market, fostering advancements in patient care and medical research.
China is expected to grow at the fastest rate during the forecast period
By Countries, the Molecular Diagnostic Market is broken up into United States, Canada, Germany, United Kingdom, France, Italy, Spain, Switzerland, Japan, China, India, Australia, South Korea, Indonesia, Brazil, Argentina, Mexico, South Africa, Saudi Arabia, United Arab Emirates, and Rest of World. China is poised for remarkable growth and is projected to achieve the highest compound annual growth rate during the forecast period within the molecular diagnostics market.
This surge in demand is fueled by several factors, including a burgeoning population, increasing healthcare infrastructure, and rising awareness of the importance of early disease detection. Additionally, government initiatives and investments in healthcare and biotechnology further propel the adoption of molecular diagnostics in the country. As China advances in medical research and technology, its robust CAGR underscores its potential to become a significant player in the global molecular diagnostics landscape.
Key Player
Abbott Laboratories, Myriad Genetics, Roche Diagnostics, BioMerieux SA, Danaher Corporation, Qiagen NV, Bio-rad Laboratories Inc., and Hologic (Gen-Probe) are prominent players in the molecular diagnostics market.
This latest report “Molecular Diagnostics Market, Global Forecast By Product (Reagents & Kits, Instruments and Software & Services), Application (Oncology, Infectious Disease, Genetic Testing, Blood Screening and Other Applications), Technology (Polymerase Chain Reaction, Hybridization, Isothermal Nucleic Amplification Technology (INAAT), Chips & Microarrays, DNA Sequencing and Others (Mass Spectrometry, TMA), End User (Hospitals & Clinics, Diagnostics Laboratories and Others), Region (North America (United States, Canada), Europe (Germany, the United Kingdom, France, Italy, Spain, Switzerland), Asia Pacific (Japan, China, India, Australia, South Korea, Indonesia), South America (Brazil, Argentina, Mexico), Middle East and Africa (South Africa, Saudi Arabia, the United Arab Emirates) & Rest of the World), Company Analysis (Abbott Laboratories, Myriad Genetics, Roche Diagnostics, BioMerieux SA, Danaher Corporation, Qiagen NV, Bio-rad Laboratories Inc., and Hologic (Gen-Probe))” provides a detailed analysis of Global Molecular Diagnostic Industry.
Product - Market we have covered the market from 3 viewpoints:
1. Reagents & kits
2. Instruments
3. Software & Services
Application - Market we have covered the market from 5 viewpoints:
1. Oncology
2. Infectious Disease
3. Genetic Testing
4. Blood Screening
5. Other Applications
Technology - Market we have covered the market from 6 viewpoints:
1. Polymerase Chain Reaction
2. Hybridization
3. Isothermal Nucleic Amplification Technology (INAAT)
4. Chips & Microarrays
5. DNA Sequencing
6. Others (Mass Spectrometry, TMA)
End User - Market we have covered the market from 3 viewpoints:
1. Hospitals & Clinics
2. Diagnostics Laboratories
3. Others
Country - This report covers the 21 Countries Molecular Diagnostics Market
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Spain
2.6 Switzerland
3. Asia Pacific
3.1 Japan
3.2 China
3.3 India
3.4 Australia
3.5 South Korea
3.6 Indonesia
4. Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
5. Middle East and Africa
5.1 South Africa
5.2 Saudi Arabia
5.3 United Arab Emirates
6. Rest of World
Company Insights:
- Overview
- Recent Development
- Revenue
Company Analysis:
1. Abbott Laboratories
2. Myriad Genetics
3. Roche Diagnostics
4. BioMerieux SA
5. Danaher Corporation
6. Qiagen NV
7. Bio-rad Laboratories Inc
8. Hologic (Gen-Probe)
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary
Companies Mentioned
- Abbott Laboratories
- Myriad Genetics
- Roche Diagnostics
- BioMerieux SA
- Danaher Corporation
- Qiagen NV
- Bio-rad Laboratories Inc
- Hologic (Gen-Probe)
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | November 2023 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 17.09 Billion |
| Forecasted Market Value ( USD | $ 28.17 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
