Global Molecular Diagnostics Market is valued at USD 21.79 Billion in 2021 and expected to reach USD 31.53 Billion by 2028 with a CAGR of 5.42% over the forecast period.
Increasing prevalence of associated diseases, rising technological advancements in the field of molecular diagnostics, and growing demand for point-of-care diagnostics are some of the major factors driving the growth of the Global Molecular Diagnostics Market.
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Scope of Global Molecular Diagnostics Market Report-
Molecular diagnostic is a collection of techniques used to analyze biological markers in the genome and proteome and how cells express their genes as proteins, applying molecular biology to medical testing. There are three types of molecular diagnostics and these are genetic tests, biomarker tests, and companion diagnostics. The technique is used in medicine to diagnose and monitor disease, identify risks and determine which treatment regimens will be best for individual patients, as well as in agricultural biosecurity to monitor crops and predict risk, and livestock diseases, and determine which quarantines are necessary. Single nucleotide polymorphisms (SNP), deletions, rearrangements, insertions, and disruptions in other elements cause various diseases. Molecular diagnostic testing is indicated for infectious diseases, oncology, virology, and sexually transmitted diseases (STDs). Molecular diagnostics are able to detect specific diseases which helps in providing precise medicine to patients.
Key Players of Global Molecular Diagnostics Market Report–
- QIAGEN
- ThermoFisher Scientific
- Siemens
- Danaher
- Myriad Genetics Inc.,
- Illumina Inc.
- Agilent Technologies Inc.
- BD
- Grifols S.A.
- Genetic Signatures
- TBG Diagnostics Limited
- GenMark Diagnostics Inc.
- Exact Sciences Corporation
- Abbott
Global Molecular Diagnostics Market Segmentation:-
By Test Type:
- PoC Tests
- Lab Tests
By Technology:
- In Situ Hybridization
- Sequencing
- Chips & Microarrays
- PCR
- Mass Spectrometry (MS)
- Other
By Product:
- Reagents
- Instruments
- Other
By Application:
- Infectious Disease
- Human Leukocyte Antigen Typing
- Oncology
-
- Microbiology
- Pharmacogenomics
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News-
Omicron: South Korea Developed ‘molecular Diagnosis’ to Detect Covid Variant in 20 Minutes
On December 13th, 2021; As Omicron Covid-19 strains continue to spread, South Korean researchers developed a molecular diagnostic technology that can detect new strains in minutes. According to ANI, POSTECH announced that a research team led by Professor Lee Jung-wook of the Department of Chemical Engineering has developed a molecular diagnostic technology that can detect omicron types in just 20-30 minutes. The development has been completed and is expected to be commercialized.
Roche Launched Cobas 5800 New Molecular Diagnostics System to Expand Access to Testing & Improve Patient Care
On November 18th, 2021; Roche announced the launch of the Cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE Mark. Testing is one of the first lines of defense to protect a patient’s general health and is extremely important in quickly guiding their treatment. The Cobas 5800 system helps laboratories address the challenges faced by increased patient testing, reimbursement complexity, and the need for more diverse test menus while providing meaningful and timely results.
North America Holds a Major Share in the Global Molecular Diagnostics Market
Geographically, North America is expected to capture a major share in the global molecular diagnostics market within the forecast period due to the increasing prevalence of cancer, rising healthcare spending, and the presence of many leading national clinical laboratories in this region. For example; as per a scientific paper published in the American Cancer Society journal, CA: A Cancer Journal for Clinicians; in 2021, there will be an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States.). In addition, the rising healthcare spending is another factor supplementing the market growth in this region. For instance, according to the Centers for Medicare and Medicaid Services, U.S. health care spending rose 9.7 percent in 2020 to $ 4.1 trillion, or $ 12,530 per capita. As a share of the country’s GDP, the share of health expenditure is 19.7 percent.
The Asia Pacific is the fastest-growing region in the global molecular diagnostics market due to consumer awareness about health issues, rising geriatric population, and improving healthcare infrastructure in this region. For instance, according to ageing Asia, in 2019, they were 139 million people aged 65 in India.
On Demand Molecular Diagnostics Market Report is also available for the below Regions and Country:
North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Switzerland
- Belgium
- Rest of Europe
Asia-Pacific
- South Korea
- Japan
- China
- India
- Australia
- Philippines
- Singapore
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Colombia
- Brazil
- Argentina
- Peru
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of the market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are the main factors responsible for new product launches?
- How big are the global & regional markets in terms of revenue, sales, and production?
- How far will the market grow in the forecast period in terms of revenue, sales, and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
- Which region has more opportunities?
Key Benefits of Global Molecular Diagnostics Market Report–
- Global Molecular Diagnostics Market report covers in-depth historical and forecast analysis
- Global Molecular Diagnostics Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Molecular Diagnostics Market report helps to identify opportunities in marketplace.
- Global Molecular Diagnostics Market report covers extensive analysis of emerging trends and competitive landscape.
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