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Global Molecular Diagnostics Market Report by Technology Application Product End Users Countries and Company Analysis 2024-2032

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    Report

  • 240 Pages
  • June 2024
  • Region: Global
  • Renub Research
  • ID: 5909469
The Global Molecular Diagnostics Market size will surpass US$ 26.27 billion by 2032 from US$ 11.88 billion in 2023, with a CAGR of 9.21% from 2024 to 2032.

Molecular diagnostics involves identifying genomic variants to aid in detecting, diagnosing, sub-classifying, prognosis, and monitoring therapy response. It utilizes techniques to analyze biological markers in the genome and proteome, examining how cells express genes as proteins. This field applies molecular biology to medical testing. It is widely used for identifying biological markers in the genome and proteome, such as detecting bacterial genes using PCR-based techniques and measuring expressed bacterial infection-specific proteins using enzyme-linked immunosorbent assay (ELISA) and proteomics.

The growing global geriatric population and the prevalence of diseases like cancer, cardiovascular diseases, neurological disorders, diabetes, obesity, and infectious diseases are driving market growth. The World Bank Group data indicates that 2022 there were approximately 779 million people aged 65 years and above globally. Furthermore, the no. of individuals aged 80 years and above is projected to double by 2050, surpassing more than 1.5 billion. This trend is expected to have a significant impact on the market. Additionally, the market is expected to experience growth due to the rising incidence of infectious diseases.

The potential market expansion is due to an increase in diseases such as HIV, HPV, and STI, as well as initiatives by significant market players to improve access to cost-effective resources. It also mentions that infections are expected to drive growth in the molecular diagnostics market and highlights the importance of molecular tests in disease diagnostics despite their high cost. The increasing global incidence of infectious diseases such as HIV, citing a UNAIDS update from August 2022, reported approximately 38.4 million people worldwide living with HIV in 2021. This includes 36.7 million adults and 1.7 million children. The high incidence of infectious diseases is expected to drive molecular die market growth due to the increased adoption of molecular diagnostics for HIV.

Factors such as technological advancements, a growing elderly population, and increased demand for genetic testing are creating significant opportunities for market growth. Increased self-testing diagnostics and patient awareness about faster diagnostics also contribute to this growth. For example, in February 2023, Huwel Lifesciences developed a portable RT-PCR machine for testing various viruses.

North America Molecular Diagnostics Market

North America dominates the molecular diagnostics market due to its high prevalence of chronic diseases. Molecular diagnostics play an important role in the early detection, diagnosis, and monitoring of conditions like cancer and infectious diseases, leading to a shift from traditional diagnostic methods. The estimated number of new cancer cases and deaths due to cancer in the United States in 2023, as reported by the ACS 'Cancer Facts & Figures 2022'. It also suggests that the high incidence of cancer in the region is expected to drive the growth of the oncology molecular diagnostics market due to the increased adoption of molecular diagnostics for cancer diagnosis. The United States is a hub for technological innovation and research in molecular diagnostics, with many leading biotechnology and diagnostic companies driving the development and commercialization of cutting-edge molecular diagnostic technologies. The United States has one of the highest healthcare expenditures globally, facilitating the adoption of advanced diagnostic technologies, including molecular diagnostics.

Molecular Diagnostics Industry Analysis

The leading market players in the Molecular Diagnostics market are F Hoffmann-la Roche Ltd, Illumina Ltd, Hologic Corporation, Agilent Technologies Inc., Qiagen NV, Myriad Genetics, Abbott Laboratories, Biomerieux SA, Bio-Rad Laboratories Inc., and Sysmex Corporation.

Molecular Diagnostics Company News

  • In January 2024, Illumina collaborated with Janssen to develop a molecular residual disease liquid biopsy test. The company plans to create a cost-effective whole-genome sequencing multi-cancer test to detect ctDNA
  • In March 2023, Illumina Inc. and GenoScreen collaborated to offer a package that includes Illumina products and the GenoScreen Deeplex Myc-TB assay, a targeted next-generation sequencing (NGS)- based test for rapid and extensive detection of anti-TB drug resistance.
  • In March 2023, Oxford Gene Technology launched eight of its CytoCellfluorescence in situ hybridization probes, certified for clinical use by the In Vitro Diagnostics Regulation (IVDR) in Europe.
  • In August 2023, QIAGEN received the U.S. FDA approval for the Therascreen PDGFRA RGQ PCR kit. This aids physicians in identifying patients with gastrointestinal stromal tumors (GIST).
  • In January 2023, the U.S. FDA approved EUA for the VIASURE Monkeypox Virus Real-Time PCR Reagents developed by BD and CerTest Biotec to detect the Mpox virus.
  • In March 2023, Lucira Health launched the first and only at-home COVID-19 and flu tests in the U.S. The U.S. FDA gave the COVID-19 & Flu Home Test the first and only Emergency Use Authorization (EUA) for OTC usage at home and other non-laboratory locations.
  • In August 2023, Indian companies CrisprBits and MolBio Diagnostics entered a strategic collaboration to revolutionize POC diagnostics by integrating CRISPR technology into POC tests to detect pathogens and genetic markers.

Technology - Global Molecular Diagnostics Market

1. Chips and Microarrays
2. In Situ Hybridization
3. Sequencing
4. Mass Spectrometry (MS)
5. PCR
6. Other Technologies

Application - Global Molecular Diagnostics Market

1. Pharmacogenomics
2. Infectious Disease
3. Genetic Disease Screening
4. Oncology
5. Blood Screening
6. Microbiology
7. Human Leukocyte Antigen Typing

Product - Global Molecular Diagnostics Market

1. Instruments
2. Reagents
3. Other Products

End User - Global Molecular Diagnostics Market

1. Hospitals
2. Laboratories
3. Other End Users

Geography - Global Molecular Diagnostics Market

North America

1. United States
2. Canada

Europe

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey

Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. United Arab Emirates

Company Insights:

  • Overviews
  • Recent Developments & Strategies
  • Product Portfolio & Product Launch in Last 1 Year
  • Revenue

Company Analysis:

1. F Hoffmann-la Roche Ltd
2. Illumina Ltd
3. Hologic Corporation
4. Agilent Technologies Inc.
5. Qiagen NV
6. Myriad Genetics
7. Abbott Laboratories
8. Biomerieux SA
9. Bio-Rad Laboratories Inc.
10. Sysmex Corporation.

Table of Contents

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamic
4.1 Growth Drivers
4.2 Challenges
4.3 Opportunities
5. Global Molecular Diagnostics Market
6. Global Molecular Diagnostics Market Share Analysis
6.1 By Technology
6.2 By Application
6.3 By Product
6.4 By End User
6.5 By Geography
7. Technology
7.1 Chips and Microarrays
7.2 In Situ Hybridization
7.3 Sequencing
7.4 Mass Spectrometry (MS)
7.5 PCR
7.6 Other Technologies
8. Application
8.1 Pharmacogenomics
8.2 Infectious Disease
8.3 Genetic Disease Screening
8.4 Oncology
8.5 Blood Screening
8.6 Microbiology
8.7 Human Leukocyte Antigen Typing
9. Product
9.1 Instruments
9.2 Reagents
9.3 Other Products
10. End User
10.1 Hospitals
10.2 Laboratories
10.3 Other End Users
11. Geography
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia
11.3.5 South Korea
11.3.6 Thailand
11.3.7 Malaysia
11.3.8 Indonesia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 South Africa
11.5.2 Saudi Arabia
11.5.3 United Arab Emirates
12. Porter's Five Forces Analysis
12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Competition
12.4 Threat of New Entrants
12.5 Threat of Substitutes
13. SWOT Analysis
13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threats
14. Key Players Analysis
14.1 F Hoffmann-la Roche Ltd
14.1.1 Overviews
14.1.2 Recent Developments & Strategies
14.1.3 Product Portfolio & Product Launch in Last 1 Year
14.1.4 Revenue
14.2 Illumina Ltd
14.2.1 Overviews
14.2.2 Recent Developments & Strategies
14.2.3 Product Portfolio & Product Launch in Last 1 Year
14.2.4 Revenue
14.3 Hologic Corporation
14.3.1 Overviews
14.3.2 Recent Developments & Strategies
14.3.3 Product Portfolio & Product Launch in Last 1 Year
14.3.4 Revenue
14.4 Agilent Technologies Inc.
14.4.1 Overviews
14.4.2 Recent Developments & Strategies
14.4.3 Product Portfolio & Product Launch in Last 1 Year
14.4.4 Revenue
14.5 Qiagen NV
14.5.1 Overviews
14.5.2 Recent Developments & Strategies
14.5.3 Product Portfolio & Product Launch in Last 1 Year
14.5.4 Revenue
14.6 Myriad Genetics
14.6.1 Overviews
14.6.2 Recent Developments & Strategies
14.6.3 Product Portfolio & Product Launch in Last 1 Year
14.6.4 Revenue
14.7 Abbott Laboratories
14.7.1 Overviews
14.7.2 Recent Developments & Strategies
14.7.3 Product Portfolio & Product Launch in Last 1 Year
14.7.4 Revenue
14.8 Biomerieux SA
14.8.1 Overviews
14.8.2 Recent Developments & Strategies
14.8.3 Product Portfolio & Product Launch in Last 1 Year
14.8.4 Revenue
14.9 Bio-Rad Laboratories Inc.
14.9.1 Overviews
14.9.2 Recent Developments & Strategies
14.9.3 Product Portfolio & Product Launch in Last 1 Year
14.9.4 Revenue
14.10 Sysmex Corporation
14.10.1 Overviews
14.10.2 Recent Developments & Strategies
14.10.3 Product Portfolio & Product Launch in Last 1 Year
14.10.4 Revenue

Companies Mentioned

  • F Hoffmann-la Roche Ltd
  • Illumina Ltd
  • Hologic Corporation
  • Agilent Technologies Inc.
  • Qiagen NV
  • Myriad Genetics
  • Abbott Laboratories
  • Biomerieux SA
  • Bio-Rad Laboratories Inc.
  • Sysmex Corporation.

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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