Molecular Diagnostics Global Market Report 2022

The major players in the molecular diagnostics market are Becton, BioMérieux SA., Danaher Corporation, Grifols, Hologic Inc., Novartis AG, QIAGEN, Siemens Healthcare GmbH, Abbott, and Dickinson and Company.

The global molecular diagnostics market is expected to grow from $49.49 billion in 2021 to $49.64 billion in 2022 at a compound annual growth rate (CAGR) of 0.3%. The molecular diagnostics market is expected to decline to $47.78 billion in 2026 at a compound annual growth rate (CAGR) of -1.0%.

The molecular diagnostics market consists of sales of molecular diagnostics services and related products by entities (organizations, sole traders, partnership) that are utilised to direct patient management, from diagnosis to treatment, especially in the treatment of congenital anomalies, infectious diseases, and cancer. Molecular diagnostic is a term used to describe a class of techniques that are used to examine biological markers in the genetic code (genome) of an organism and to determine how their cells express their genes as proteins.

The main types of products of molecular diagnostics are instruments, reagents, consumables, software, and services. Instruments refer to a measuring device for determining the present value of a quantity under observation. The technologies include polymerase chain reaction (PCR), DNA sequencing, and next-generation sequencing and these are used in oncology, pharmacogenomics, infectious diseases, genetic testing, neurological disease, cardiovascular disease, microbiology, and other applications. The various end-users are hospitals, laboratories, and other end-users (blood banks, home health agencies, and nursing homes).

North America was the largest region in the molecular diagnostics market in 2021. The regions covered in molecular diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The rising prevalence of infectious diseases and cancers of different forms drives the molecular diagnostics market. To determine whether mutations to a gene or chromosome may raise a person's chance of acquiring cancer or other disorders, molecular testing is employed. The increasing prevalence of infectious diseases and various types of cancer creates a demand for new diagnostic procedures including fast and specific molecular diagnostic tests. For instance, in 2020, according to National Cancer Institute, a US-based government agency, an estimated 1,806,590 new cases of cancer would be diagnosed in the United States and 606,520 people would die from the disease. Therefore, the increasing prevalence of cancer is driving the growth of the molecular diagnostic market.

The advances in genomics and proteomics are a key trend gaining popularity in the molecular diagnostics market. Polymerase chain reaction (PCR) is a recent development in genomics and helps in discovering new approaches to molecular diagnosis for disease diagnosis and pathogenesis of diseases. This enables better monitoring and a fast diagnosis and major organizations are investing to have a competitive edge. Following the trend, $600 million to support COVID-19 vaccine and therapy clinical trials led by the private sector, and for Canadian bio-manufacturing opportunities. This announcement was part of the $1 billion Plan to Mobilize Science. The growing research in proteomics and genomics will help develop more advanced molecular diagnostic techniques in the forecast period.

In April 2021, Hologic, a US-based women’s health technology company, acquired Mobidiag Oy for an undisclosed amount. The acquisition would accelerate the global growth of Mobidiag’s molecular diagnostic test platforms, which offer ease of use, multiplex capability, and rapid turnaround time. Mobidiag Oy is a Finland-based company that develops and provides molecular diagnostics for infectious diseases and antibiotic resistance.

The countries covered in the molecular diagnostics market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia."



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