+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Global Molecular Diagnostics Market, Forecast 2022-2027, Industry Trends, Outlook, Impact of COVID-19, Opportunity Company Analysis

  • PDF Icon

    Report

  • 170 Pages
  • March 2022
  • Region: Global
  • Renub Research
  • ID: 5562691
Global Molecular Diagnostics Market will be worth US$ 29.92 Billion in 2027. Today's thriving healthcare sector employs the technology to diagnose and monitor complex illnesses, detect risk, and, most critically, choose the most acceptable personalized drugs and therapies for individual patients. Globally, the use of medical and microbiological technology in medical imaging science to analyze biological markers existing in the proteome and genome and the study of how an individual expresses their genes as proteins is known as molecular diagnostics. Furthermore, it is a practical diagnostic, and patient monitoring approach that diagnoses the disease assesses the risks associated with treatment and recommends appropriate medicines.



Global Molecular Diagnostics Industry Is Expected to Expand at A CAGR of 7.9% From 2021-2027:


Molecular diagnostics has evolved as a superior methodology for decades, achieving the goal of speedier illness diagnosis with fewer complexities. The demand for these procedures is increasing, particularly for infectious illness diagnoses. Infectious disease prevalence is rising in developing and developed countries, driving up demand for molecular diagnosis. Technological developments, an aging population, and foreign financing for R&D are contributing to the growth. Government funding, the need for self-testing diagnostics, and expanding consumer knowledge regarding speedier diagnostics contribute to increased demand for Point-of-Care (POC) testing. Infectious disease prevalence is on the rise, driving up the need for molecular diagnostics.

COVID-19 Impact on Global Molecular Diagnostics Market:


The COVID-19 pandemic harmed most companies' total sales, but it had a favorable impact on the molecular diagnostics market due to the advanced usage of molecular diagnostic technologies for COVID-19 testing. With the COVID-19 pandemic, dealing with infectious ailments has become an immediate medical concern worldwide. Countries are gradually loosening limitations on migration, causing a rise in testing numbers.

Aside from vaccinations and therapeutic medications, there was an increasing demand for the development of more precise and straightforward testing methods and the expansion of testing structures. Regulatory authorities used a variety of approaches to expedite the approval of diagnostic products during the epidemic. Companies have made strategic determinations to implement COVID-19 rapid tests, sustain revenue, and mitigate COVID-19's impact on their operating capabilities. According to the publisher, the Worldwide Molecular Diagnostics Market Size was worth US$ 18.97 Billion in 2021.

The Reagents Segment Has the Largest Market Share By Product:


We've segmented the market for reagents & kits, and instruments into product categories in our report. According to our estimates, the reagents category will hold the most significant market share. Because of its widespread use in research and clinical settings is expected to increase at a high rate in the coming years. Standard reagents aid in the production of timely and accurate findings. Market expansion is aided by standardized results, increased efficiency, and cost-effectiveness.

By Application, the Infectious Diseases Segment holds the Lion's Share of the Market:


In 2021, and throughout the study period, infectious disease will occupy the lion's share of the molecular diagnostics market. Traditional testing's disadvantages, such as long turnaround times, difficulty growing organisms in manually prepared culture media, poor in vitro kinetic development, and lack of sensitivity, have been mitigated by technological advancements such as PCR and ISH, which have boosted the infectious disease segment's market. Surprisingly, during the pandemic, the segment's expansion is aided by molecular diagnostics, which serve as the foundation for COVID-19 medical diagnosis.

The Sequencing Technology Segment Will Witness the Most Elevated Growth:


We've covered the Polymerase Chain Reaction, In Situ Hybridization, Isothermal Amplification, Sequencing, Mass Spectrometry, and Chips & Microarrays markets by technology. The benefit of Polymerase Chain Reaction (PCR) in identifying infectious microorganisms such as viruses and bacteria is credited with the segment's rise. Furthermore, DNA sequencing methods and developing NGS technologies, such as sequencing platforms and RNA sequencing, are among the sequencing technologies for the molecular diagnostics market. Medication research, innovative drug development, and customized treatment depend on DNA sequencing technologies. According to our analysis, the sequencing technology category is predicted to grow the most during the forecast period, owing to an increase in genome profiling projects and R&D for novel medications and a fall in prices and sizes of DNA sequencers.

By End-User, the hospitals' segment dominates the market accounting for the dominant market share:


In 2021, the hospitals' sector dominated the molecular diagnostics market, accounting for most market share. Hospital expansion is attributed to increased market penetration and procedure volumes worldwide. Another critical driver expected to drive the hospital industry is expanded government programs to provide various services, such as reimbursement for diagnostic testing. Furthermore, many hospitals collaborate with laboratories to incorporate other tests, such as microbiology testing.

Regional Realms of the Molecular Diagnostics Industry:


North America dominates the market for molecular diagnostics because of expanding consumer awareness, technical developments, the increasing occurrence of diseases, and superior healthcare infrastructure. Furthermore, the market expansion in Europe can be linked to the rising epidemiology of infectious and chronic diseases, which encourages R&D activities, boosting the overall market growth for the Molecular Diagnostics Industry. Furthermore, a high level of living, consumer awareness of early diagnosis, and a well-established healthcare system is significant development drivers.

Key Companies Insights:


Our analysis includes Abbott Laboratories, Myriad Genetics, Roche Diagnostics, BioMerieux SA, Danaher Corporation, Qiagen NV, GenMark Diagnostics, Bio-rad laboratories, inc, and Hologic (Gen-Probe) are some of the leading competitors in the molecular diagnostics market. The market is inherently competitive. To achieve a competitive advantage, manufacturers improve their products in terms of specificity, accuracy, and other factors. In addition, prominent players rely on partnerships to enhance product capabilities and advertise their services.

The publisher's latest report Molecular Diagnostics Market, Global Forecast By Product (Reagents, Intruments and Others), Application (Infectious Disease, Blood Screening, Genetic Testing and Oncology Testing), Technology (Polymerase Chain Reaction, In Situ Hybridization, Isothermal Amplification, Sequecing, Mass Spectrometry, Chips & Microarrays and Others), End User (Hospital, Cliniques and Others), Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Company Analysis (Abbott Laboratories, Myriad Genetics, Roche Diagnostics, BioMerieux SA, Danaher Corporation, Qiagen NV, GenMark Diagnostics, 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
2. Intruments
3. Others

Application - Market we have covered the market from 4 viewpoints:


1. Infectious Disease
2. Blood Screening
3. Genetic Testing
4. Oncology Testing

Technology - Market we have covered the market from 7 viewpoints:


1. Polymerase Chain Reaction
2. In Situ Hybridization
3. Isothermal Amplification
4. Sequecing
5. Mass Spectrometry
6. Chips & Microarrays
7. Others

End User - Market we have covered the market from 3 viewpoints:


1. Hospital
2. Cliniques
3. Others

Region - Market we have covered the market from 5 viewpoints:


1. North America
2. Europe
3. Asia Pacific
4. South America
5. Middle East and Africa

Company Insights:


  • Overview
  • Recent Developments
  • Revenue

Company Analysis:


1. Abbott Laboratories
2. Myriad Genetics
3. Roche Diagnostic
4. BioMerieux SA
5. Danaher Corporation
6. Qiagen NV
7. GenMark Diagnostics
8. Bio rad laboratories, inc
9. Hologic (Gen Probe)
Frequently Asked Questions about the Global Molecular Diagnostics Market

What is the estimated value of the Global Molecular Diagnostics Market?

The Global Molecular Diagnostics Market was estimated to be valued at $19.0 Billion in 2021.

What is the growth rate of the Global Molecular Diagnostics Market?

The growth rate of the Global Molecular Diagnostics Market is 7.9%, with an estimated value of $29.9 Billion by 2027.

What is the forecasted size of the Global Molecular Diagnostics Market?

The Global Molecular Diagnostics Market is estimated to be worth $29.9 Billion by 2027.

Who are the key companies in the Global Molecular Diagnostics Market?

Key companies in the Global Molecular Diagnostics Market include Abbott Laboratories, Myriad Genetics, Roche Diagnostic, BioMerieux SA, Danaher Corporation, Qiagen NV, GenMark Diagnostics and Hologic (Gen Probe).

Table of Contents

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Molecular Diagnostics Market
6. Market Share Analysis - Global Molecular Diagnostics
6.1 By Products
6.2 By Application
6.3 By Technology
6.4 By End User
6.5 By Region
7. Product - Global Molecular Diagnostics Market
7.1 Reagents
7.2 Instruments
7.3 Others
8. Application - Global Molecular Diagnostics Market
8.1 Infectious Disease
8.2 Blood Screening
8.3 Genetic Testing
8.4 Oncology Testing
9. Technology - Global Molecular Diagnostics Market
9.1 Polymerase Chain Reaction
9.2 In Situ Hybridization
9.3 Isothermal Amplification
9.4 Sequencing
9.5 Mass Spectrometry
9.6 Chips & Microarrays
9.7 Others
10. End User - Global Molecular Diagnostics Market
10.1 Hospital
10.2 Cliniques
10.3 Others
11. Region - Global Molecular Diagnostics Market
11.1 North America
11.2 Europe
11.3 Asia Pacific
11.4 South America
11.5 Middle East and Africa
12. Porter's Five Forces
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13. Company Analysis
13.1 Abbott Laboratories
13.1.1 Overview
13.1.2 Recent Development
13.1.3 Sales Analysis
13.2 Myriad Genetics
13.2.1 Overview
13.2.2 Recent Development
13.2.3 Sales Analysis
13.3 Roche Diagnostic
13.3.1 Overview
13.3.2 Recent Development
13.3.3 Sales Analysis
13.4 BioMerieux SA
13.4.1 Overview
13.4.2 Recent Development
13.4.3 Sales Analysis
13.5 Danaher Corporation
13.5.1 Overview
13.5.2 Recent Development
13.5.3 Sales Analysis
13.6 Qiagen NV
13.6.1 Overview
13.6.2 Recent Development
13.6.3 Sales Analysis
13.7 GenMark Diagnostics
13.7.1 Overview
13.7.2 Recent Development
13.7.3 Sales Analysis
13.8 Bio rad laboratories, Inc
13.8.1 Overview
13.8.2 Recent Development
13.8.3 Sales Analysis
13.9 Hologic (Gen Probe)
13.9.1 Overview
13.9.2 Recent Development
13.9.3 Sales Analysis
List Of Figures:
Figure 01: Global - Molecular Diagnostic Market (Billion US$), 2017 - 2021
Figure 02: Global - Forecast for Molecular Diagnostic Market (Billion US$), 2022 - 2027
Figure 03: Product - Reagents Market (Million US$), 2017 - 2021
Figure 04: Product - Forecast for Reagents Market (Million US$), 2022 - 2027
Figure 05: Product - Instruments Market (Million US$), 2017 - 2021
Figure 06: Product - Forecast for Instruments Market (Million US$), 2022 - 2027
Figure 07: Product - Others Market (Million US$), 2017 - 2021
Figure 08: Product - Forecast for Others Market (Million US$), 2022 - 2027
Figure 09: Application - Infectious Disease Market (Million US$), 2017 - 2021
Figure 10: Application - Forecast for Infectious Disease Market (Million US$), 2022 - 2027
Figure 11: Application - Blood Screening Market (Million US$), 2017 - 2021
Figure 12: Application - Forecast for Blood Screening Market (Million US$), 2022 - 2027
Figure 13: Application - Genetic Testing Market (Million US$), 2017 - 2021
Figure 14: Application - Forecast for Genetic Testing Market (Million US$), 2022 - 2027
Figure 15: Application - Oncology Testing Market (Million US$), 2017 - 2021
Figure 16: Application - Forecast for Oncology Testing Market (Million US$), 2022 - 2027
Figure 17: Technology - Polymerase Chain Reaction Market (Million US$), 2017 - 2021
Figure 18: Technology - Forecast for Polymerase Chain Reaction Market (Million US$), 2022 - 2027
Figure 19: Technology - In Situ Hybridization Market (Million US$), 2017 - 2021
Figure 20: Technology - Forecast for In Situ Hybridization Market (Million US$), 2022 - 2027
Figure 21: Technology - Isothermal Amplification Market (Million US$), 2017 - 2021
Figure 22: Technology - Forecast for Isothermal Amplification Market (Million US$), 2022 - 2027
Figure 23: Technology - Sequencing Market (Million US$), 2017 - 2021
Figure 24: Technology - Forecast for Sequencing Market (Million US$), 2022 - 2027
Figure 25: Technology - Mass Spectrometry Market (Million US$), 2017 - 2021
Figure 26: Technology - Forecast for Mass Spectrometry Market (Million US$), 2022 - 2027
Figure 27: Technology - Chips & Microarrays Market (Million US$), 2017 - 2021
Figure 28: Technology - Forecast for Chips & Microarrays Market (Million US$), 2022 - 2027
Figure 29: Technology - Others Market (Million US$), 2017 - 2021
Figure 30: Technology - Forecast for Others Market (Million US$), 2022 - 2027
Figure 31: End User - Hospital Market (Million US$), 2017 - 2021
Figure 32: End User - Forecast for Hospital Market (Million US$), 2022 - 2027
Figure 33: End User - Cliniques Market (Million US$), 2017 - 2021
Figure 34: End User - Forecast for Cliniques Market (Million US$), 2022 - 2027
Figure 35: End User - Others Market (Million US$), 2017 - 2021
Figure 36: End User - Forecast for Others Market (Million US$), 2022 - 2027
Figure 37: North America - Molecular Diagnostic Market (Million US$), 2017 - 2021
Figure 38: North America - Forecast for Molecular Diagnostic Market (Million US$), 2022 - 2027
Figure 39: Europe - Molecular Diagnostic Market (Million US$), 2017 - 2021
Figure 40: Europe - Forecast for Molecular Diagnostic Market (Million US$), 2022 - 2027
Figure 41: Asia Pacific - Molecular Diagnostic Market (Million US$), 2017 - 2021
Figure 42: Asia Pacific - Forecast for Molecular Diagnostic Market (Million US$), 2022 - 2027
Figure 43: South America - Molecular Diagnostic Market (Million US$), 2017 - 2021
Figure 44: South America - Forecast for Molecular Diagnostic Market (Million US$), 2022 - 2027
Figure 45: Middle East and Africa - Molecular Diagnostic Market (Million US$), 2017 - 2021
Figure 46: Middle East and Africa - Forecast for Molecular Diagnostic Market (Million US$), 2022 - 2027
Figure 47: Abbott Laboratories - Global Revenue (Million US$), 2017 - 2021
Figure 48: Abbott Laboratories - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 49: Myriad Genetics - Global Revenue (Million US$), 2017 - 2021
Figure 50: Myriad Genetics - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 51: Roche Diagnostic - Global Revenue (Million US$), 2017 - 2021
Figure 52: Roche Diagnostic - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 53: BioMerieux SA - Global Revenue (Million US$), 2017 - 2021
Figure 54: BioMerieux SA - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 55: Danaher Corporation - Global Revenue (Million US$), 2017 - 2021
Figure 56: Danaher Corporation - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 57: Qiagen NV - Global Revenue (Million US$), 2017 - 2021
Figure 58: Qiagen NV - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 59: GenMark Diagnostics - Global Revenue (Million US$), 2017 - 2021
Figure 60: GenMark Diagnostics - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 61: Bio rad laboratories, inc - Global Revenue (Million US$), 2017 - 2021
Figure 62: Bio rad laboratories, inc - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure 63: Hologic (Gen Probe) - Global Revenue (Million US$), 2017 - 2021
Figure 64: Hologic (Gen Probe) - Forecast for Global Revenue (Million US$), 2022 - 2027
List Of Tables:
Table 01: Global - Molecular Diagnostic Market Share by Product (Percent), 2017 - 2021
Table 02: Global - Forecast for Molecular Diagnostic Market Share by Product (Percent), 2022 - 2027
Table 03: Global - Molecular Diagnostic Market Share by Application (Percent), 2017 - 2021
Table 04: Global - Forecast for Molecular Diagnostic Market Share by Application (Percent), 2022 - 2027
Table 05: Global - Molecular Diagnostic Market Share by Technology (Percent), 2017 - 2021
Table 06: Global - Forecast for Molecular Diagnostic Market Share by Technology (Percent), 2022 - 2027
Table 07: Global - Molecular Diagnostic Market Share by End Use (Percent), 2017 - 2021
Table 08: Global - Forecast for Molecular Diagnostic Market Share by End Use (Percent), 2022 - 2027
Table 09: Global - Molecular Diagnostic Market Share by Region (Percent), 2017 - 2021
Table 10: Global - Forecast for Molecular Diagnostic Market Share by Region (Percent), 2022 - 2027

Companies Mentioned

  • Abbott Laboratories
  • Myriad Genetics
  • Roche Diagnostic
  • BioMerieux SA
  • Danaher Corporation
  • Qiagen NV
  • GenMark Diagnostics
  • 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
 

Loading
LOADING...