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Molecular Diagnostics Market

Molecular Diagnostics Market

Molecular Diagnostics Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

141

Base Year:

2022

Date

Nov - 2023

Format:

PDF XLS PPT

Report Code:

VMR-2338

Segments Covered
  • By Product & Service By Product & Service Reagents & Kits, Instruments, Services & Software
  • By Test Type By Test Type Lab Tests, PoC Tests
  • By Sample Type By Sample Type Blood, Serum, & Plasma, Urine, Other Sample Types
  • By Technology By Technology Polymerase Chain Reaction, Isothermal Nucleic Acid Amplification Technology, DNA Sequencing & Next-generation Sequencing, In Situ Hybridization, DNA Microarrays, Other Technologies
  • By Application By Application Infectious Disease Diagnostics, Oncology Testing, Genetic Testing, COVID-19, Other Applications
  • By End User By End User Diagnostic Laboratories, Hospitals & Clinics, Other End Users
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 14.9 Billion
Revenue 2030Revenue 2030: USD 35.8 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 11.6%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Molecular Diagnostics Market Share

The global Molecular Diagnostics Market is valued at USD 14.9 Billion in 2022 and is projected to reach a value of USD 35.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 11.6% between 2023 and 2030.

Premium Insights

By analyzing molecules like DNA, RNA, and protein in a tissue or a fluid, Molecular Diagnostics can find disorders, including hereditary diseases, infectious diseases, neurological diseases, cardiovascular diseases, and others. There are many techniques used to diagnose various conditions, including molecular imaging, next-generation sequencing, in situ hybridization, and mass spectrometry. To accurately diagnose illnesses, Molecular Diagnostics makes use of powerful technologies, including DNA sequence analysis, gene expression profiling, and biomarker discovery. The rising incidence of cancer and infectious diseases, the rise in demand for personalized medicine, and technological advancements in Molecular Diagnostics.

Molecular Diagnostics Market Size, 2022 To 2030 (USD Billion)

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The increased prevalence of infectious diseases, including HIV, hepatitis, and tuberculosis, is driving the need for accurate and speedy diagnosis, which is pushing the demand for Molecular Diagnostics. Due to the ability to diagnose and monitor cancer at an early stage, Molecular Diagnostics techniques are also in great demand as a result of the rise in cancer incidence.

  • The rising incidence of cancer and infectious diseases will notably increase the Molecular Diagnostics market during the projection period from 2023 to 2030.
  • The polymerase chain reaction segment will continue to assert its dominance by technology, capturing the largest market share globally throughout the forecast period 2023 to 2030.
  • The lab tests segment will continue to assert its dominance by test type, capturing the largest market share globally throughout the forecast period 2023 to 2030.
  • The Blood, Serum, and Plasma by sample test is largest segment and has largest market share.
  • In 2022, North America exhibited its market prowess, achieving the highest revenue share of 38.60%.
  • The Asia Pacific region is poised for remarkable growth, displaying a noteworthy Compound Annual Growth Rate (CAGR) between 2023 and 2030.

Top Market Trends

  1. Globally, the aging population is increasing, which is growing diseases like diabetes, cancer, cardiovascular disease, obesity, and neurological problems, which is propelling the Molecular Diagnostics market growth.
  2. Throughout the forecast period, the prevalence of infectious disorders is anticipated to drive market expansion. Additionally, it is expected that the target population will increase due to the majority of STIs like HIV and HPV, which will accelerate the Molecular Diagnostics market's expansion.
  3. The expansion of the Molecular Diagnostics market is anticipated to be fueled by the growing efforts being made by industry participants to increase access to reasonably priced resources. Since Molecular Diagnosticss yields precise and effective results, its use in illness diagnosis is crucial.
  4. Throughout the forecast period, the prevalence of numerous bacterial or viral epidemics will likely increase, along with the demand for diagnostics at the point of care, recent advancements in pharmacogenomics, and the introduction of novel products.
  5. The market opportunity for Molecular Diagnostics is expanding as a result of escalating technological breakthroughs and key players' expertise in launching fresh products. Another trend in the Molecular Diagnostics industry that is influencing the market is the increasing occurrence of various infections or cardiovascular ailments.
  6. The most effective way to recognize and describe a microbe is Molecular Diagnostics. A successful test must be accurate, quick, and able to quantify the infectious load. Improved testing swiftly detects the strain of the organism and its drug susceptibility, shortening the time it takes to discover the best antibiotic.

Report Coverage & Deliverables

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Economic Insights

Economic factors can still have an impact on the trajectory of the field of Molecular Diagnosticss, which uses cutting-edge techniques to analyze biological markers at the molecular level and has seen significant growth in recent years due to its potential in disease diagnosis, personalized medicine, and drug development. Advanced Molecular Diagnostics technologies and tests frequently demand large investments in infrastructure, research, and development. Financial constraints or economic downturns may restrict funding for these projects, limiting innovation and uptake. Supply chain issues brought on by economic upheavals can also have an impact on the availability of vital tools and reagents needed in Molecular Diagnosticss. Testing delays, higher expenses, and inconsistent testing quality can all result from supply chain disruptions.

Market Segmentation

Molecular Diagnostics The global Molecular Diagnostics market can be categorized into Product & Service, Test Type, Sample Type, Technology, Application, End User, Region. The Molecular Diagnostics market can be categorized into Reagents & Kits, Instruments, Services & Software based on Product & Service. The Molecular Diagnostics market can be categorized into Lab Tests, PoC Tests based on Test Type. The Molecular Diagnostics market can be categorized into Blood, Serum, & Plasma, Urine, Other Sample Types based on Sample Type. The Molecular Diagnostics market can be categorized into Polymerase Chain Reaction, Isothermal Nucleic Acid Amplification Technology, DNA Sequencing & Next-generation Sequencing, In Situ Hybridization, DNA Microarrays, Other Technologies based on Technology. The Molecular Diagnostics market can be categorized into Infectious Disease Diagnostics, Oncology Testing, Genetic Testing, COVID-19, Other Applications based on Application. The Molecular Diagnostics market can be categorized into Diagnostic Laboratories, Hospitals & Clinics, Other End Users based on End User. The Molecular Diagnostics market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Below tree is interactive. You can click the nodes to get more information.

Based on Product & Service

Reagents & Kits to Lead Maximum Market Share Due to Wide Adoption In Research And Clinical Settings

In 2022, the Reagents & Kits segment is poised to dominate the global market for Molecular Diagnostics. The increase in demand for companion diagnostics and personalized medicine, both of which necessitate specially designed reagents and kits for specific applications, might be attributed to the expansion. With the development of innovative and cost-effective diagnostic tests for cancer, genetic disorders, and infectious diseases, the market for reagents and kits is also anticipated to grow. Standard reagents aid in obtaining reliable and timely results. It is envisaged that standardized outcomes, increased effectiveness, and cost-effectiveness will encourage market expansion.

Based on Sample Type

The Blood, Serum, and Plasma segment Expects Dominion Owing To The Growing awareness of health.

In 2022, the Blood, Serum, and Plasma segment will dominate the Molecular Diagnostics market These sample types give a varied reservoir of molecular diagnostic data. They contain circulating DNA, RNA, proteins, and other biomarkers that provide useful information about many diseases and disorders. This plethora of data enables healthcare providers to make precise diagnoses, track illness development, and tailor treatment options.

Based on Application

The Infectious Disease Diagnostics segment Expects Dominion Owing To The Growing Technological Advancements, Such as PCR and ISH.

In 2022, the infectious disease diagnostics segment will dominate the Molecular Diagnostics market. The increasing need for prompt and accurate identification of contagious diseases is causing this industry to grow. Another element aiding the rise of the infectious diseases market is the accessibility of cutting-edge Molecular Diagnostics technologies like PCR and NGS. With the introduction of new technologies like PCR and ISH, the shortcomings of conventional testing have been mitigated, including their lack of sensitivity, poor in vitro kinetic development, lengthy turnaround times, difficulties in cultivating organisms in manually created culture conditions, and difficulty in growing organisms.

Based on Region

North America To Dominate Global Sales Owing to the aging of the population and increased R&D expenditures.

In 2022, the North America region emerged as the dominant player in the Molecular Diagnostics market. Large outbreaks of bacterial and viral epidemics, rising demand for point-of-care diagnostics, constantly advancing technology, and the steadfast presence of leading market players in the area are some of the factors boosting market expansion in this region. Molecular Diagnostics is replacing traditional diagnostic techniques as a result of improvements in the healthcare system, rising per capita health spending, and an increase in the incidence of infectious diseases and cancer in the United States. For instance, the ACS "Cancer Facts & Figures 2022" estimates that there will be around 1,918,030 new cancer cases and 609,360 cancer-related deaths in the United States in 2022. Because of the high incidence of cancer in this area, Molecular Diagnostics are expected to become more widely used to diagnose cancer, leading to market growth in North America.

The Molecular Diagnostics industry in Asia Pacific is rapidly growing in popularity. The Asia Pacific region has a high need for these tests. The market in the Asia Pacific region is anticipated to grow during the forecast period as a result of increased market penetration and a steadily growing patient pool for early diagnosis and prevention of various therapies.

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Competitive Landscape

The global Molecular Diagnostics market is highly competitive, with various key players operating in the industry. Some of the major companies in the market include BD; bioMérieux SA; Bio-Rad Laboratories, Inc.; Abbott; Agilent Technologies, Inc.; Danaher; Hologic Inc. (Gen Probe); Illumina, Inc.; Johnson & Johnson Services, Inc.; Grifols, S.A.; QIAGEN; F. Hoffmann-La Roche, Ltd.; Siemens Healthineers AG; Sysmex Corporation. These businesses are focusing on research and development in order to create innovative and sustainable products. Furthermore, strategic alliances, mergers, and acquisitions are common in the industry as organizations seek to extend their product offerings and market presence.

The key players in the global Molecular Diagnostics market include - Becton Dickinson and Company (U.S.), bioMérieux SA (France), Bio-Rad Laboratories Inc. (U.S.), Abbott Laboratories (U.S.), Agilent Technologies Inc. (U.S.), Danaher Corp. (U.S.), Hologic Inc. (U.S.), Illumina Inc. (U.S.), Johnson & Johnson Services Inc. (U.S.), Grifols S.A. (Spain), QIAGEN (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Sysmex Corporation (Japan) among others.

Recent Market Developments

  • In May 2023, Hologic Inc.'s Panther Fusion Flu A/B/SARS-CoV-2/RSV assay was given 510(k) clearance by the US FDA. The respiratory syncytial virus (RSV), influenza B, influenza A, and many acute respiratory syndrome coronavirus 2 (SARS-CoV-2) are the four most prevalent respiratory viruses that can be distinguished with this assay, a Molecular Diagnostics test.
  • In April 2023, Oxford Nanopore Technologies plc and bioMérieux SA partnered to introduce the latter's molecular sensing technology based on nanopores to the field of infectious illnesses. This sequencing technique tracks variations in electrical current as nucleic acids move through protein nanopores, decoding the signal to produce a particular RNA or DNA sequence.
  • In March 2023, BASF SE acquired 49.5% of Vattenfall's Holland Kust Zuid wind farm, which has been under construction since July 2022 in the Dutch North Sea. The subsidy-free offshore project is set to operate in 2023, marking BASF's significant debut in renewable energy investment.

Segmentation of the Global Molecular Diagnostics Market

Parameter Details
Segments Covered

By Product & Service

  • Reagents & Kits
  • Instruments
  • Services & Software

By Test Type

  • Lab Tests
  • PoC Tests

By Sample Type

  • Blood, Serum, & Plasma
  • Urine
  • Other Sample Types

By Technology

  • Polymerase Chain Reaction
  • Isothermal Nucleic Acid Amplification Technology
  • DNA Sequencing & Next-generation Sequencing
  • In Situ Hybridization
  • DNA Microarrays
  • Other Technologies

By Application

  • Infectious Disease Diagnostics
  • Oncology Testing
  • Genetic Testing
  • COVID-19
  • Other Applications

By End User

  • Diagnostic Laboratories
  • Hospitals & Clinics
  • Other End Users

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Becton Dickinson and Company (U.S.)
  • bioMérieux SA (France)
  • Bio-Rad Laboratories Inc. (U.S.)
  • Abbott Laboratories (U.S.)
  • Agilent Technologies Inc. (U.S.)
  • Danaher Corp. (U.S.)
  • Hologic Inc. (U.S.)
  • Illumina Inc. (U.S.)
  • Johnson & Johnson Services Inc. (U.S.)
  • Grifols S.A. (Spain)
  • QIAGEN (Germany)
  • F. Hoffmann-La Roche Ltd. (Switzerland)
  • Siemens Healthineers AG (Germany)
  • Sysmex Corporation (Japan)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Molecular Diagnostics valued at USD 14.9 Billion in 2022 and is expected to reach USD 35.8 Billion in 2030 growing at a CAGR of 11.6%.

  • The prominent players in the market are Becton Dickinson and Company (U.S.), bioMérieux SA (France), Bio-Rad Laboratories Inc. (U.S.), Abbott Laboratories (U.S.), Agilent Technologies Inc. (U.S.), Danaher Corp. (U.S.), Hologic Inc. (U.S.), Illumina Inc. (U.S.), Johnson & Johnson Services Inc. (U.S.), Grifols S.A. (Spain), QIAGEN (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Sysmex Corporation (Japan).

  • The market is project to grow at a CAGR of 11.6% between 2023 and 2030.

  • The driving factors of the Molecular Diagnostics include

    • Introduction of technologically advanced products

  • North America was the leading regional segment of the Molecular Diagnostics in 2022.