The global molecular diagnostics market was valued at $9,160.61 million in 2020 and is projected to reach $23,905.56 million by 2030, registering a CAGR of 9.86% from 2021 to 2030.
Molecular diagnosis is a process to identify a disease at the molecular level, such as proteins, DNA, and RNA, in a tissue or fluid. Certain tools are used to detect specific sequences in DNA or RNA that may or may not be associated with the disease, which include single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others, which are used for diagnosis and prediction of the various infectious diseases, cancer, and other genetic disorders.
The main driving factors that drive the growth of the molecular diagnostics market include, increase in prevalence of cancer, infectious disease, and genetic disorders and increase in awareness about early diagnosis of these diseases among population.
In addition, increase in awareness and acceptance of personalized medicines and growth in the biomarker identification, further supplement the global molecular diagnostics market growth.
Conversely, stringent regulatory requirements for the approval of new molecular diagnostics techniques are expected to obstruct the growth of the market during forecast years. On the other hand, increase in adoption of the molecular diagnostics in the emerging economies is are expected to offer profitable opportunities for the growth of the market during the forecast period.
The molecular diagnostics market is segmented on the basis of product type, technology, application, end user, and region to provide a detailed assessment of the market. By product type, it is bifurcated into instruments, reagents, and software and services. By technology, it is segmented into polymerase chain reaction (PCR), DNA Sequencing, hybridization, microarray, isothermal nucleic acid amplification technology (INAAT), and other techniques include electrophoresis, mass spectroscopy, and flow cytometry. By application, it is divided into infectious diseases, oncology, genetic tests, blood screening, and others include microbiology, cardiovascular diseases, and neurological diseases. Based on end user, it is segmented into, hospitals, reference laboratories, and others include blood banks, home health agencies, and nursing homes. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include F. Hoffmann-La Roche AG, BioMérieux SA, Abbott Laboratories, Becton, Dickinson and Company, Qiagen N.V., Hologic Corporation, Danaher Corporation, S.A., Agilent Inc., Siemens Healthcare GmbH, and Grifols.
Molecular diagnosis is a process to identify a disease at the molecular level, such as proteins, DNA, and RNA, in a tissue or fluid. Certain tools are used to detect specific sequences in DNA or RNA that may or may not be associated with the disease, which include single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others, which are used for diagnosis and prediction of the various infectious diseases, cancer, and other genetic disorders.
The main driving factors that drive the growth of the molecular diagnostics market include, increase in prevalence of cancer, infectious disease, and genetic disorders and increase in awareness about early diagnosis of these diseases among population.
In addition, increase in awareness and acceptance of personalized medicines and growth in the biomarker identification, further supplement the global molecular diagnostics market growth.
Conversely, stringent regulatory requirements for the approval of new molecular diagnostics techniques are expected to obstruct the growth of the market during forecast years. On the other hand, increase in adoption of the molecular diagnostics in the emerging economies is are expected to offer profitable opportunities for the growth of the market during the forecast period.
The molecular diagnostics market is segmented on the basis of product type, technology, application, end user, and region to provide a detailed assessment of the market. By product type, it is bifurcated into instruments, reagents, and software and services. By technology, it is segmented into polymerase chain reaction (PCR), DNA Sequencing, hybridization, microarray, isothermal nucleic acid amplification technology (INAAT), and other techniques include electrophoresis, mass spectroscopy, and flow cytometry. By application, it is divided into infectious diseases, oncology, genetic tests, blood screening, and others include microbiology, cardiovascular diseases, and neurological diseases. Based on end user, it is segmented into, hospitals, reference laboratories, and others include blood banks, home health agencies, and nursing homes. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include F. Hoffmann-La Roche AG, BioMérieux SA, Abbott Laboratories, Becton, Dickinson and Company, Qiagen N.V., Hologic Corporation, Danaher Corporation, S.A., Agilent Inc., Siemens Healthcare GmbH, and Grifols.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global molecular diagnostics market along with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the application and products of molecular diagnostics used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Key Market Segments
By Technology
- Polymerase Chain Reaction (PCR)
- Hybridization
- DNA sequencing
- Microarray
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Others
By Application
- Infectious diseases
- Oncology
- Genetic testing
- Blood screening
- Others
By Type
- Instruments
- Reagents
- Software Services
By End User
- Hospital
- Reference Labortories
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Asia-Pacific
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- ABBOTT LABORATORIES
- Agilent Technologies Inc.
- BECTON DICKINSON AND COMPANY
- BIOMÉRIEUX SA
- DANAHER CORPORATION
- F. HOFFMON LA-ROCHE LTD
- GRIFOLS S.A
- HOLOGIC INC.
- QIAGEN INC
- SIEMENS AG (SIEMENS HEALTHINEERS)
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MOLECULAR DIAGNOSTICS MARKET, BY TYPE
CHAPTER 5: MOLECULAR DIAGNOSTICS MARKET, BY TECHNOLOGY
CHAPTER 6: MOLECULAR DIAGNOSTICS MARKET, BY APPLICATION
CHAPTER 7: MOLECULAR DIAGNOSTICS MARKET, BY END USER
CHAPTER 8: MOLECULAR DIAGNOSTICS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
The Molecular Diagnostics Market size was valued at $9.2 billion in 2020, and is estimated to reach $23.9 billion by 2030, growing at a CAGR of 9.86% from 2021 to 2030. Molecular diagnostics (MDx) are cumulative techniques for analyzing biological markers at the molecular level such as genome and proteome. Molecular diagnostics techniques are used for diagnosis and prediction of various infectious diseases, cancer, and other genetic disorders.The major factor that impacts the growth of the molecular diagnostics market includes rise in prevalence of infectious diseases, genetic disorders and applications of molecular diagnostics techniques in determination of disease and treatment markers. In addition, technological advancements in the healthcare sector, increase in funds from private and government organizations for development of various diagnostic service centers, and rise in awareness about early diagnosis further fuel growth of the market. Furthermore, rise in preference toward personalized medicines also boosts the growth of the market.
However, stringent regulatory requirements for the approval of new molecular diagnostics techniques is expected to hamper the growth of the market. On the other hand, increase in adoption of the molecular diagnostics in emerging economies is expected to offer profitable opportunities for the growth of the market during the forecast period.
COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The global molecular diagnostics market has positive impact due to surge in demand for polymerase chain reaction tests (PCR), serology-based rapid-test products, and next-generation sequencing (NGS). Also, increase in adoption of immunoassays and molecular assays diagnostics tests for COVID-19 along with major market player ramping up their R&D activities to curb COVID-19 is expected to positively impact the molecular diagnostics market.
The molecular diagnostics industry is segmented on the basis of product type, technology, application, end user, and region. On the basis of product type, the market is bifurcated into instruments, reagents, and software and services. The reagents dominated the global market in 2020, and is expected to remain dominant throughout the forecast period, owing to advancement in R&D activities in pharmaceutical & biotechnology industry, increase in demand for reagents, and surge in adoption of point-of-care testing.
On the basis of technology, the market is classified into polymerase chain reaction (PCR), DNA Sequencing, hybridization, microarray, isothermal nucleic acid amplification technology (INAAT), and other techniques include electrophoresis, mass spectroscopy, and flow cytometry. The polymerase chain reaction segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to increase in application of PCR technology to detect coronavirus disease coupled with rising launch of molecular diagnostics instruments.
By application, the market is segmented into infectious diseases, oncology, genetic tests, blood screening, and others include microbiology, cardiovascular diseases, and neurological diseases. The infectious diseases held the largest market share in 2020, and is expected to remain dominant during the forecast period, owing to increase in prevalence of infectious diseases such as SARS-COV-19.
By end user, the market is segregated into hospitals, reference laboratories, and others, which includes blood banks, home health agencies, and nursing homes. The hospitals segments dominated the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to increase in the number of patients treated for different infectious diseases, cancer, and others requiring molecular analysis for diagnosis purpose and for quick start of the treatment.
According to Onkar Sumant, Manager, Healthcare, 'increase in prevalence of cancer, infectious disease, and genetic disorders and increase in awareness about early diagnosis of these diseases among population drive the growth of the market. In addition, increase in awareness and acceptance of personalized medicines and growth in the biomarker identification, further supplement the global molecular diagnostics market growth.'
Key findings of the Study
- On the basis of product type, the reagent held largest share in the global market in 2020.
- On the basis of technology, the polymerase chain reaction (PCR) held largest market share in 2020 and is expected to remain dominant during the forecast period.
- By application, the infectious disease dominates the global market in 2020 and is anticipated to continue this trend during the forecast period.
- By end user, the hospitals held largest market share in 2020 and is anticipated to continue this trend during the forecast period.
- On the basis of region, North America is expected to experience growth at the highest rate, registering a CAGR of 9.24% during the forecast period.
Companies Mentioned
- ABBOTT LABORATORIES
- Agilent Technologies Inc.
- BECTON DICKINSON AND COMPANY
- BIOMÉRIEUX SA
- DANAHER CORPORATION
- F. HOFFMON LA-ROCHE LTD
- GRIFOLS S.A
- HOLOGIC INC.
- QIAGEN INC
- SIEMENS AG (SIEMENS HEALTHINEERS)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 256 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 9160.61 million |
| Forecasted Market Value ( USD | $ 23905.56 million |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
