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Molecular Diagnostics - Global Market Trajectory & Analytics

  • ID: 338507
  • Report
  • August 2020
  • Region: Global
  • 880 Pages
  • Global Industry Analysts, Inc
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With PCR Tests Considered as the Gold Standard of Covid-19 Testing, Molecular Diagnostics Sees a 20.7% Spike in Revenues

The global market for Molecular Diagnostics is expected witness revenues spike by 20.7% in the year 2020 and thereafter continue to grow and reach US$19.9 billion by the year 2027, trailing a post COVID-19 CAGR of 9.8% over the analysisperiod2020 through 2027. Molecular diagnostic testing for COVID-19 is rapidly evolving each week as global infections continue to surge. Countries worldwide are stepping up testing rates significantly in a bid to control the spread of infections & mortality rates. India which is now in the eye of the pandemic storm is currently carrying out 1 million COVID-19 tests daily. The pressing requirement for massive and universal testing is leading to introduction of various technologies for COVID-19 diagnostics, providing access to new tests in response to the pandemic. These diagnostic techniques, along with approaches to develop new vaccines or therapies, rely heavily on molecules from the coronavirus, including nucleic acids such as DNA or RNA and proteins. COVID-19 diagnostics essentially screen samples for the viral RNA or the presence of antibodies for viral RNA. While viral RNA tests identify presence of SARS-CoV-2 infection from swab samples by reverse transcription of polymerase chain reaction (RT-PCR), immunoassay-based antibody tests delve deeper into the serum and diagnose presence of antibodies produced in the body and quantify the impact and resultant immunity attained. While RT-PCR tests are direct tests, antibody tests are to be paired with viral RNA tests and are not conclusive on their own and sometimes yield inconsistent results if the individual's immune system produces antibodies later than the time of the test.

As the gold standard in molecular diagnostics, PCR isa dominant way through which global healthcare systems are testing for Covid-19. These tests work by detecting the viral genomic material of the virus namely ribonucleic acid (RNA) which remains in the body while the virus replicates. Testing for COVID-19 detects genetic material of the virus from the lower and upper respiratory tract. Molecular tests use swab collection of the specimen from the mouth or nose of a person. The specimen is processed for the specific ribonucleic acid (RNA) or genetic signature of the SARS-CoV-2. Molecular tests are commonly used in acute respiratory infections for detecting the viral genetic material in specimens. The approach relies on reverse transcription polymerase chain reaction (RT-PCR) that involves copying and comparison of the genetic material from a specimen to the virus' genetic sequence. Molecular testing uses swab or saliva samples to detect the virus. The swab test involves insertion of a six inch swab into the back side of the nasal passage. The swab is rotated several times for collecting the sample from both nostrils, which is sent to a laboratory for testing. Abbott Laboratories has launched a point-of-care swab test intended to deliver test results in around five minutes. The availability of point-of-care or portable test kits allows sample collection in provider offices and even at a drive-thru site.

The FDA has recently authorized the foremost molecular test that considers saliva specimen. Offered by Rutgers' RUCDR Infinite Biologics, the test is accurate and addresses shortage of swabs. The FDA has allowed several companies to distribute molecular tests and notified various players to start testing people using internally-validated tests. Molecular diagnostics are gaining growing confidence in COVID 19 testing by virtue of their high specificity and accuracy RT-PCR tests in comparison with the cost efficient alternative - antibody tests that falter at authenticity of findings due to inconclusive early stage viral presence. The phenomenal rise in the COVID cases worldwide is poised to grow the market for molecular diagnostics multi-fold. With the recovery across the Asian, European and American markets falling into different stages, it is vital for the molecular diagnostics companies to be present in the right markets at the right time, vet their resources, scale up production, and optimize supply chains to overcome market specific hurdles, shortages, supply disruptions to pocket healthy volumes as long as the demand exists. Volumes may recede as the global infections go down gradually, or are contingent upon the development of the vaccine by 2021. In the post COVID-19 period, demand for molecular diagnostics will grow stronger with pent-up demand for infectious disease testing such as tuberculosis, hepatitis C, hepatitis B, HPV, and also STDs.

Competitors identified in this market include, among others:
  • Abbott Laboratories
  • Becton, Dickinson and Company
  • bioMérieux SA
  • Cepheid
  • F. Hoffmann-La Roche Ltd.
  • Grifols International S.A.
  • Hologic Inc.
  • QIAGEN N.V.
  • Quest Diagnostics Inc.
  • Siemens Healthineers
  • Tecan Group Ltd.
  • Thermo Fischer Scientific Inc.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • Molecular Diagnostics Receive Healthy Booster from CoVid-19 Tests
  • EXHIBIT 1: Total Number of COVID-19 Tests Conducted in the Most Impacted Countries
  • Molecular Diagnostics Receive Healthy Booster from CoVid-19 Tests
  • RT-PCR Emerges as the Frontline Technology for Testing COVID-19
  • Performance Analysis of COVID-19 Tests
  • Need of the Hour: RT-PCR Shortages to be Tackled Effectively by Molecular Diagnostics Companies
  • Molecular Diagnostic Companies Re-strategize Logistics to Stay at the Top End of the Game
  • Select Tests Introduced for COVID-19
  • COVID-19 Plunges Fortunes of Non- COVID Diagnostics
  • Cancer Testing Dives During First Half of 2020
  • Myeloproliferative Neoplasm Tests Suffer the Brunt of CoVID-19 Curbs
  • Labs Embark New Journeys to Retain Overall Volumes
  • Molecular Diagnostics: An Introduction
  • Types of Molecular Diagnostics Tests
  • Market Outlook
  • Major Growth Drivers
  • Developing Countries Offer Strong Growth Prospects
  • PCR Technology Leads the MDx Market
  • Infectious Diseases: The Largest Application Market
  • Reagents and Kits Dominate the Molecular Diagnostics Market
  • Competition
  • EXHIBIT 2: Global Molecular Diagnostics Market by Leading Player (2019)
  • EXHIBIT 3: Global Molecular Diagnostics Market for Clostridium difficile by Leading Player: 2019
  • Pharmaceutical Firms Carve their Niche in Molecular Diagnostic Market
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Faster Screening Necessitates Point-of-Care Diagnostics for COVID-19
  • Molecular Diagnostics Market Eyes Transformational Impact of Proactive Diagnostics
  • Next-Generation Sequencing to Emerge as Novel Technique in Fight with COVID-19
  • Isothermal Amplification: An Alternative to RT-PCR for COVID-19 Testing
  • Technological Innovations Set to Drive Market Growth
  • New Product Developments
  • Digitalization, Automation and AI Trends Reshape Growth
  • Growing Role of Molecular Diagnostics in Personalized Medicine
  • EXHIBIT 4: Global Personalized Medicine Market: Revenues in US$ Million for the Years 2019, 2021, 2023 and 2025
  • Companion Diagnostics Drive Personalized Medicine
  • Biomarkers as Companion Diagnostics
  • Oncology-Based Molecular Diagnostics Lead Growth
  • EXHIBIT 5: Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • EXHIBIT 6: Global Number of New Cancer Cases and Cancer-related Deaths by Cancer Site for 2018
  • EXHIBIT 7: Number of New Cancer Cases and Deaths (in Million) by Region for 2018
  • New Applications Hold Promising Potential
  • Next-Generation Sequencing (NGS) Technologies Keep Up the Momentum
  • Rising Emphasis on Lab Automation to Augur Well for Market Growth
  • EXHIBIT 8: World Laboratory Automation Market in US$ Billion for Years 2018, 2020, 2022, 2024 & 2026
  • Nanotechnology for Molecular Diagnostics
  • Growing Popularity of Chemo-Sensitivity Testing of CTCs
  • Genetic Disease Testing Offers Bright Prospects
  • Genetic Testing to Aid in Personalized Medicine
  • Pharmacogenomics Development Augurs Growth of Genetic Testing Market
  • Non-Invasive Prenatal Diagnostics - The Way Ahead
  • Nucleic Acid Amplification Methods for Detection of Antimicrobial Resistance
  • Growing Incidence of Infectious Diseases Spurs Opportunities
  • EXHIBIT 9: Infectious Diseases Remain Major Cause of Death in Under Developed Regions: Breakdown of Leading Causes of Death in Sub-Saharan Africa (in %)
  • PCR Plays a Vital Role in the Diagnosis of Infectious Diseases
  • Rising Incidence of Hospital Acquired Infections Propels Market Growth
  • Greater Number of Tests for HIV and Sexually Transmitted Diseases Amplify Growth
  • EXHIBIT 10: Global HIV Prevalence: Number of People Living with AIDs (in Thousands) by Region for 2018
  • EXHIBIT 11: Number of AIDS-Related Deaths (in Thousands) by Region for 2018
  • Rapid HIV Tests: A New Age Diagnostic Weapon against the Killer Disease
  • Home HIV Testing Emerges as a Lucrative Option
  • Molecular Tests Gaining Prominence in GC/Chlamydia Testing Market
  • Molecular Diagnostics Opens New Avenues in Viral Hepatitis Testing
  • EXHIBIT 12: Hepatitis B prevalence Worldwide by Region
  • HPV Testing: A Fast Growing Segment in the Molecular Diagnostic Testing Market
  • EXHIBIT 13: HPV Associated Disorders Market by Indication: 2019
  • Cervical Cancer: Rising Incidence & Mortality Enhances Need for Testing
  • EXHIBIT 14: Number of New Cervix Uteri Cases in the World by Region (2018)
  • Molecular based Tests Ingrain Roots in Blood Donor Screening Segment
  • Rise in Healthcare Expenditure to Drive Growth
  • EXHIBIT 15: World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Aging Population Drives Molecular Diagnostics Market
  • EXHIBIT 16: Elderly Healthcare Expenditure as a % of GDP
  • EXHIBIT 17: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • Market Overview
  • EXHIBIT 18: Healthcare Spending as a % of GDP in the US: 2010-2020
  • US Emerges as a Major Market for COVID-19 Tests
  • FDA Plays Instrumental Role in Influx of New Tests
  • Select COVID-19 Test Kits with FDA Authorization
  • EXHIBIT 19: Cumulative Number of COVI-19 Tests Performed in the US (In ‘000): 31-Mar-30 July 2020
  • NIH Launches Initiative to Encourage Innovation
  • Infectious Disease Testing Contributes to High Growth
  • Ageing Demographics: Major Driving Factor
  • EXHIBIT 20: US Elderly Population: Expected Growth Rates Over the Years 2005-2025
  • Increasing Incidence of Chronic Diseases Drives Focus onto Molecular Diagnostics
  • Rising Incidence of Cancer: A Major Growth Driver
  • EXHIBIT 21: Leading Sites of New Cancer Cases in Males: 2020
  • EXHIBIT 22: Leading Sites of New Cancer Cases in Females: 2020
  • Molecular Diagnostics Tests Gain Share in STD Testing Domain
  • HPV Testing Market: A Review
  • EXHIBIT 23: Prevalence of HPV in the US by Age
  • US Personalized Medicine Market to Offer Significant Opportunities
  • Companion Diagnostics Market in the US
  • Burgeoning Potential for Genetic Testing
  • Paradigm Shift amongst Consumers Spurs DTC Genetic Testing Market
  • Market Analytics
  • CANADA
  • JAPAN
  • Market Overview
  • Brief Note on COVID-19 Testing in Japan
  • Demographics Drive Market Growth
  • EXHIBIT 24: Breakdown of Population by Age Group in Japan: 2010, 2020, and 2025
  • Market Analytics
  • CHINA
  • Market Overview
  • COVID-19 Testing: An Overview
  • HPV Testing in China
  • Market Analytics
  • EUROPE
  • Market Overview
  • COVID-19 Testing Drives Revenue Growth
  • Covid-19 Testing in the UK
  • Aging Population: A Prime Growth Driver
  • Automated Systems Gain Preeminence
  • Oncology-based Molecular Diagnostics Holds Immense Potential
  • EXHIBIT 25: Number of New Cancer Cases in Europe: 2012, 2018, and 2025
  • EXHIBIT 26: Distribution of New Cancer Cases by Type in Europe: 2018
  • HPV Testing in Europe: An Overview
  • Market Analytics
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Market Overview
  • Healthcare Spending in Asia-Pacific: On the Rise
  • Market Analytics
  • AUSTRALIA
  • INDIA
  • Market Overview
  • Laboratories Pick up on Automation
  • HPV Testing Market: An Overview
  • EXHIBIT 27: HPV in India: Breakdown of Type-Distribution and HPV Prevalence
  • Market Analytics
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 84
Note: Product cover images may vary from those shown
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