Molecular Diagnostics Market By Type (Instruments, Reagents, Software & Services), 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 End User (Hospital, Reference Labortories, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
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.
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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