Las Vegas, USA — Molecular Diagnostics Market is contemplated to witness huge demand in the upcoming years due to rising infectious diseases and their diagnosis, the presence of global as well as regional manufacturers active in developing the Molecular Diagnostic products such as Qiagen, Roche, Molbio Diagnostics Pvt. Ltd., among others. Also, improving healthcare infrastructure, government initiatives in raising awareness regarding molecular diagnosis will contribute to the Molecular Diagnostics market growth in these regions.
DelveInsight’s Molecular Diagnostics Market Insights and Forecast report provides the current and forecast Molecular Diagnostics Market, upcoming innovation in the devices, individual market shares, challenges, drivers and barriers, market trends, and key competitors in the Molecular Diagnostics Market.
Some of the salient features from the Molecular Diagnostics Market report:
As per DelveInsight analysis, in terms of revenue share, North America is predicted to occupy a major share in the overall Molecular Diagnostics Market during the forecasted period.
Key companies working proactively in the Molecular Diagnostics Market include F. Hoffmann-La Roche Ltd, Hologic, Inc., bioMérieux SA, Abbott Laboratories, QIAGEN, Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Danaher., Myriad Genetics, Inc., Agilent Technologies Inc., Illumina, Inc., Becton, Dickinson and Company, DiaSorin Inc., MDxHealth., Genetic Signatures., Biocartis, Exact Sciences Corporation, Amoy Diagnostics Co., Ltd., Molbio Diagnostics Pvt. Ltd., Savyon Diagnostics, TBG Diagnostics Limited., Quidel Corporation, ELITechGroup, Seegene, Inc., Abacus Diagnostica Oy, and others.
DelveInsight analyzes that Global Molecular Diagnostics Market was valued at USD 9.56 billion in 2020, growing at a tremendous CAGR of 9.21% during the forecast period from 2021 to 2026. The Molecular Diagnostics market size is anticipated to reach USD 16.12 billion by 2026.
In November 2021, Roche launched the cobas® 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark.
In October 2021, Hologic has launched its Molecular Diagnostic System, Novodiag, for on-demand molecular testing in Europe. The system combines real-time polymerase chain reaction (PCR) with microarray capabilities to enable the identification of multiple pathogens in a single sample.
In March 2021, Materials and Machines Corporation (MatMaCorp) introduced its new handheld device MY Real-Time Analyzer (MYRTA), which can carry out polymerase chain reaction (PCR) amplification and real-time fluorescent detection.
The increase in demand for Molecular Diagnostics is primarily attributed to the growing incidence of infectious diseases such as the sudden outbreak of COVID-19 and the rising burden of cancers across the globe.
Molecular Diagnostics Overview
Molecular Diagnostic tests use highly sensitive and specific laboratory methods to detect and identify biomarkers at the nucleic acid (DNA and RNA) level. Typical molecular-based applications include medical diagnosis, prognosis, disease monitoring, and optimal treatment.
Molecular Diagnostics Market Insights
Geographically, the Global Molecular Diagnostic market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of market share, North America tends to dominate the Global Molecular Diagnostic market in the present scenario and is expected that it will continue to dominate during the forecast period. This domination is owing to the growing burden of infectious disease in the region. Moreover, the rise in the incidence of cancer, the presence of key market players and leading national clinical laboratories, and growing demand for technologically advanced point-of-care diagnostics platforms, among others are expected to fuel the overall Molecular Diagnostics market in the region.
For instance, on March 27, 2020, Abbott received emergency use authorization (EUA) for its new Abbott ID NOW COVID-19 test, the fastest available molecular point-of-care test for the detection of COVID-19.
Further, the Europe and Asia Pacific regions have the future potential for the Molecular Diagnostics market. This is mainly due to the rising cases of various zoonotic and infectious diseases, the increase in cancer burden in the region. On August 26, 2020, FDA approved liquid biopsy next-generation sequencing-based FoundationOne Liquid CDx test as a companion diagnostic to identify mutations in BRCA1 and BRCA2 genes in cell free-DNA isolated from plasma specimens of metastatic castration-resistant prostate cancer (mCRPC) patients.
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Molecular Diagnostics Market Dynamics
The Molecular Diagnostics market is gaining momentum at present owing to the fact that molecular tests are routinely utilized for the diagnosis of cancer and other infectious diseases as well. The increase in demand for Molecular Diagnostics is primarily attributed to the growing incidence of infectious diseases such as the sudden outbreak of COVID-19 and the rising burden of cancers across the globe, Lyme diseases, and others. In addition, there are other factors that are expected to drive the Molecular Diagnostics market such as technological advancements and rapid product approvals in the Molecular Diagnostics product arena. Also, product approval for the detection and differentiation of HIV infection for personalized management of patients with HIV will also bolster the Molecular Diagnostics market.
However, certain factors such as false-negative or false-positive results with some Molecular Diagnostics technology, and the high cost of the instruments are likely to impede the Molecular Diagnostics market growth.
To gain a better understanding of the COVID-19 impact on Molecular Diagnostics, get a snapshot of the Molecular Diagnostics Market Analysis
Scope of the Molecular Diagnostics Market Report
Study Period: 2021-2026
Market Segmentation By Product Type – Instruments, Reagents And Others
Market Segmentation By Technology – Polymerase Chain Reaction [PCR], Sequencing, In-Situ Hybridization, Microarray Analysis, And Others
Market Segmentation By Application – Infectious Disease Diagnosis, Oncology Testing, Genetic Testing, Pharmacogenomics, Histology, And Others
Market Segmentation By End-User– Hospitals, Pathology Labs, And Others
Market Segmentation By Geography – North America, Europe, Asia-Pacific, and Rest of World
Key Molecular Diagnostics Companies – F. Hoffmann-La Roche Ltd, Hologic, Inc., bioMérieux SA, Abbott, QIAGEN, Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Danaher., Myriad Genetics, Inc., Agilent Technologies Inc., Illumina, Inc., Becton, Dickinson and Company, DiaSorin Inc., MDxHealth., Genetic Signatures., Biocartis, Exact Sciences Corporation, Amoy Diagnostics Co., Ltd., Molbio Diagnostics Pvt. Ltd., Savyon Diagnostics, TBG Diagnostics Limited., Quidel Corporation, ELITechGroup, Seegene, Inc., Abacus Diagnostica Oy, and others.
Porter’s Five Forces Analysis
Delveinsight Analysis: The Global Molecular Diagnostics Market is expected to grow at a CAGR of 9.21% and will reach USD 16.12 billion by 2026.
Table of Contents
Molecular Diagnostics Market Report Introduction
Molecular Diagnostics Market Executive summary
Regulatory and Patent Analysis
Molecular Diagnostics Market Key Factors Analysis
Molecular Diagnostics Market Porter’s Five Forces Analysis
COVID-19 Impact Analysis on Molecular Diagnostics Market
Molecular Diagnostics Market Layout
Molecular Diagnostics Market Global Company Share Analysis – Key 3-5 Companies
Molecular Diagnostics Market Company and Product Profiles
9.1 F. Hoffmann-La Roche Ltd 9.2 Hologic, Inc. 9.3 bioMérieux SA 9.4 Abbott 9.5 QIAGEN 9.6 Becton, Dickinson and Company 9.7 Thermo Fisher Scientific Inc. 9.8 Siemens Healthineers AG 9.9 Danaher 9.10 Myriad Genetics, Inc., 9.11 Agilent Technologies Inc. 9.12 Illumina, Inc. 9.13 DiaSorin Inc. 9.14 MDxHealth 9.15 Genetic Signatures.
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