United States Molecular Diagnostics Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Insights, Impact of COVID-19, Company Analysis

United States Molecular Diagnostics Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Insights, Impact of COVID-19, Company Analysis

According to Renub Research, the United States Molecular Diagnostics Market is projected to reach US$ 12.5 Billion by 2027. The detection of genetic divagations is referred to as molecular diagnostics. It aims to make detection, diagnosis, sub-classification, prognosis, and therapeutic response monitoring easier. Furthermore, it is a set of tools for analyzing biological markers in the genome and proteome and how cells convey their genes as proteins. It is utilized in medical diagnostics. Molecular diagnostics has developed as a superior methodology in the United States over the previous decade, achieving the goal of speedier disease diagnosis with fewer complexities. The market for these procedures is increasing, specifically for infectious illness diagnoses.

COVID-19 Benefited the Molecular Diagnostics Industry

Technological improvements, an aging population, and rising demand for genetic testing contribute to the market's growth. Furthermore, the rising demand for POC testing can be ascribed to the increasing desire for self-testing and increased patient knowledge of speedier diagnostics. Increased usage of molecular diagnostics, on the other hand, is likely to provide profitable growth prospects. However, over the projection period, the market is expected to be hampered by strict regulatory requirements to approve new molecular diagnostics techniques.

COVID-19 Impact on the United States Molecular Diagnostics Market:

The COVID-19 epidemic has caused widespread disruption in-hospital workflows. The COVID-19 outbreak is expected to boost the growth of the Molecular Diagnostics Market in the United States. The COVID-19 pandemic put a strain on worldwide healthcare systems, necessitating the creation of diagnostic devices and diagnostic service centers. The demand for real-time polymerase chain reaction (RT-PCR) tests to detect COVID-19 has increased as the number of COVID-19 patients has increased. Due these factors market expanded a lot in the year 2022 and 2023.

By-Products, the Reagents Segment Accounts for Dominance:

As per our estimates, the reagents category will have the most market share in 2021. Because of its widespread usage in research and clinical contexts is projected to maintain its supremacy in the coming years. Standard reagents help in the production of timely and accurate findings. Due to standardized outcomes, increased efficiency, and cost-effectiveness, the market is expected to rise. During the pandemic, the expanding usage of devices to detect coronavirus, which was previously developed for other infectious diseases, further encouraged market growth. For example, Roche Diagnostics expanded its Covid RT-PCR assays portfolio to include the new Cobas 5800 system in February 2022 in countries that accepted the CE mark approval.

The Oncology Segment Is Growing at A High Growth Rate:

By application, in this analysis, we have analyzed the markets for Infectious Disease, Blood Screening, Genetic Testing, and Oncology Testing. In the United States molecular diagnostics market in 2021, the infectious illness category held the most significant market share. The dominance of this sector is due to the increased use of molecular diagnostics, particularly PCR tests, for the diagnosis of COVID-19.

On the other hand, the oncology section is predicted to increase at a rapid rate over the projection period. Cancer is the second ultimate cause of death in the United States. Furthermore, the British In Vitro Diagnostics Association attempted in January 2021 to request that NHS England build a commissioning framework for molecular diagnostics in oncology. This is targeted at increasing oncology molecular diagnostics acceptance and access.

By Technology, In-Situ Hybridization Segment Is Expected to Witness Market Growth:

In-Situ Hybridization's sequence specificity is a crucial application that aids in understanding pathogenic processes and performing molecular testing for cancer diagnosis, monitoring, and treatment. Identifying and studying mRNA expression in preserved tissue samples, employing probes that complement the concerning sequence, and molecular diagnostics of chromosomal integrity utilizing Fluorescence ISH are two fundamental applications of ISH technology (FISH). This technology segment is predicted to develop throughout the forecast period, owing to the use of ISH technology for cancer diagnosis, an older population that is more susceptible to cancer, and the introduction of new products.

End-Use Insights Prevailing in the United States Molecular Diagnostics Market:

Due to large procedure volumes for Covid testing in central laboratories, laboratories are expected to gain market share as end-users in 2021. Another critical driver expected to boost the market is increased government initiatives to provide various services, such as payment for diagnostic testing. The evolution of molecular diagnostic platforms employed in PoC scenarios is gaining popularity. In March 2020, Abbott announced the ID NOW COVID-19 test, a molecular point-of-care test that diagnoses COVID-19 in less than 5 minutes.

Key Companies Insights:

Roche Diagnostics, Abbott Laboratories, Myriad Genetics, BioMerieux SA, Qiagen NV, Hologic (Gen-Probe), Danaher Corporation, Bio-rad laboratories, Inc., and GenMark Diagnostics are some of the prominent participants in the worldwide molecular diagnostics industry. Mergers and acquisitions are being used by the major businesses to improve product capabilities and advertise their services. Optimal research and development techniques, a robust supply chain network, increased research and development investments, and cost management is expected to help the aforementioned vital players lead this market over the projection period.

Renub Research latest report “United States Molecular Diagnostics Market, Global Forecast By Product (Reagents, Intruments and Others), Application (Infectious Disease, Blood Screening, Genetic Testing and Oncology Testing), Technology (Polymerase Chain Reaction, In Situ Hybridization, Isothermal Amplification, Sequecing, Mass Spectrometry and Chips & Microarrays), End User (Laboratories, Hospital& Clinics and Others), Companies (Roche Diagnostics, Abbott Laboratories, Myriad Genetics, BioMerieux SA, Qiagen NV, Hologic (Gen-Probe), Danaher Corporation, Bio-rad laboratories, Inc., and GenMark Diagnostics)” provides a detailed analysis of United States Molecular Diagnostics Industry.

By Product the Market has been covered from 3 viewpoints:

1. Reagents
2. Intruments
3. Others

By Application the Market has been covered from 4 viewpoints:

1. Infectious Disease
2. Blood Screening
3. Genetic Testing
4. Oncology Testing

By Technology the Market has been covered from 6 viewpoints:

1. Polymerase Chain Reaction
2. In Situ Hybridization
3. Isothermal Amplification
4. Sequecing
5. Mass Spectrometry
6. Chips & Microarrays

By End User the Market has been covered from 3 viewpoints:

1. Laboratories
2. Hospital & Clinics
3. Others End User

Company Insights:

• Overview
• Recent Development
• Revenue

Companies Covered:

1. Roche Diagnostic
2. Abbott Laboratories
3. Myriad Genetics
4. BioMerieux SA
5. Qiagen NV
6. Hologic (Gen Probe)
7. Danaher Corporation
8. Bio rad laboratories, Inc.
9. GenMark Diagnostics