Molecular Diagnostics Market

Molecular Diagnostics Market by Technology (In Situ Hybridization, Mass Spectrometry (MS), Chips and Microarrays, PCR, Sequencing, and Other Technologies), Applications (Microbiology, Genetic Disease Screening, Blood Screening, Infectious Diseases, Pharmacogenomics, Human Leukocyte Antigen Typing, and Oncology), Products, (Instruments, Reagents, and Other Products), Applications (Hospitals, Laboratories, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.

  • Report ID: HC-2421
  • Author: Growth Market Reports
  • Rating: 4.8
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  • No. Of Pages: 178
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The global molecular diagnostics market size was valued at USD 9.3 billion in 2020 and is projected to expand at a CAGR of 9.1% during the forecast period, 2021-2028. The growth of the market is attributed to rising clinical tests in emerging economies.

Molecular Diagnostics Market summary

Co-development of companion diagnostics with therapeutic products has the potential to significantly alter the drug development process and accelerate the commercialization of drug candidates by producing safer drugs with improved therapeutic efficacy quickly and cost-effectively. The companion diagnostics market is estimated to have high growth potential due to an increase in demand for high-priced specialist therapies and safer drugs. Increasing importance of companion diagnostics is also providing opportunities for growth in the molecular diagnostics market. To make safer and more effective drugs, pharmaceutical companies are increasingly collaborating with diagnostic companies. The increased availability of such advanced and efficient companion diagnostic tests is expected to drive the market growth in the coming years.

Hospitals and laboratories with large capital budgets can afford various molecular diagnostic instruments. Most small laboratories, physician offices, and sole practitioners do not have the capital to afford a large-sized analyzer.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising prevalence of infectious diseases and cancer in both developed and developing countries is anticipated to boost the growth of the molecular diagnostics market.
  • Increasing number of prescriptions for molecular diagnostic tests due to the diagnosis and management of such diseases can foster the market growth.
  • Growing trend toward preventive medicines are expected to drive the demand for molecular diagnostics during the forecast period.
  • Increasing clinical diagnostics is projected to drive the market growth.
  • High cost of molecular diagnostic instruments can restrain the growth of the market.
  • Variable costs of the reagents and high cost of maintenance including overhead costs such as utilities, space, and administration can create challenges for the market.
  • Development of innovative diagnostic instrument is anticipated to create immense opportunities for the market players.

Scope of the Report

The report on the global molecular diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Molecular Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2021–2028

Segmentation

Molecular Diagnostics Market by Technology (In Situ Hybridization, Mass Spectrometry (MS), Chips and Microarrays, PCR, Sequencing, and Other Technologies), Applications (Microbiology, Genetic Disease Screening, Blood Screening, Infectious Diseases, Pharmacogenomics, Human Leukocyte Antigen Typing, and Oncology), Products (Instruments, Reagents, and Other Products) and Applications (Hospitals, Laboratories, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott Laboratories, F. Hoffmann-la Roche Ltd, Hologic Corporation, Danaher Corporation, Agilent Technology.

Molecular Diagnostics Market Segment Insights:

PCR segment to hold a significant market share

In terms of technology, the market is segmented into in situ hybridization, mass spectrometry (MS), chips and microarrays, PCR, sequencing, and other technologies. The PCR segment account for a significant market share in 2020 owing to the COVID-19 outbreak. This segment is expected to grow at a steady rate during the forecast period.

Molecular Diagnostics Market technology

Blood screening segment to grow at a healthy rate

On the basis of applications, the molecular diagnostics market is classified as microbiology, genetic disease screening, blood screening, infectious diseases, pharmacogenomics, human leukocyte antigen typing, and oncology. The blood screening segment to grow at a healthy rate owing to rising prevalence of chronic diseases across the globe.

Molecular Diagnostics Market application

Reagents segment to hold a significant market share

Based on products, the market is segregated into instruments, reagents, and other products. The reagents and kits segment held the largest share of this market in 2020. This segment's market growth is driven by the frequent purchase of these products due to their frequent usage.

Molecular Diagnostics Market products

Laboratories segment is anticipated to expand at a high CAGR

On the basis of end-users, the molecular diagnostics market is divided into hospitals, laboratories, and others. In 2020, the laboratories segment dominated the molecular diagnostics market, accounting for above 85% of the total revenue. The market expansion of this segment is attributed to high market penetration and procedure volumes. Moreover, increasing number of initiatives undertaken by the government to provide various services, such as reimbursement for diagnostic tests is anticipated to foster the market growth. Many healthcare facilities are collaborating with laboratories to integrate various tests, such as microbiology testing. Growing number of developing molecular diagnostic platforms that can also be used in point-of-care settings is estimated to positively influence the market segment growth.

Molecular Diagnostics Market end-users

North America is projected to hold a major market share

In terms of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the molecular diagnostics market, accounting for around 35% of the total market share in 2020. Rising consumer awareness, technological advancements, disease prevalence, and improved healthcare infrastructure is driving the growth of the market in the region.

Europe accounted for more than 25% of the total revenue in 2020 and is expected to grow at a substantial rate during the forecast period. This is due to the rising epidemiology of infectious as well as chronic diseases, which encourages R&D activities and thus boosts the market growth in Europe. High standard of living, consumer awareness about early diagnosis, and a well-established healthcare system are key drivers of the regional market growth. The market in Asia Pacific is expected to expand at a CAGR of 5.5% during the forecast period owing to increasing market penetration and high unmet market requirements.

Molecular Diagnostics Market region

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Molecular Diagnostics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Molecular Diagnostics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Molecular Diagnostics Market - Supply Chain
  4.5. Global Molecular Diagnostics Market Forecast
     4.5.1. Molecular Diagnostics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Molecular Diagnostics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Molecular Diagnostics Market Absolute $ Opportunity
5. Global Molecular Diagnostics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Molecular Diagnostics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Molecular Diagnostics Demand Share Forecast, 2019-2026
6. North America Molecular Diagnostics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Molecular Diagnostics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Molecular Diagnostics Demand Share Forecast, 2019-2026
7. Latin America Molecular Diagnostics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Molecular Diagnostics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Molecular Diagnostics Demand Share Forecast, 2019-2026
8. Europe Molecular Diagnostics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Molecular Diagnostics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Molecular Diagnostics Demand Share Forecast, 2019-2026
9. Asia Pacific Molecular Diagnostics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Molecular Diagnostics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Molecular Diagnostics Demand Share Forecast, 2019-2026
10. Middle East & Africa Molecular Diagnostics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Molecular Diagnostics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Molecular Diagnostics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Molecular Diagnostics Market: Market Share Analysis
  11.2. Molecular Diagnostics Distributors and Customers
  11.3. Molecular Diagnostics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abbott Laboratories
     11.4.2. F. Hoffmann-la Roche Ltd
     11.4.3. Hologic Corporation
     11.4.4. Danaher Corporation
     11.4.5. Agilent Technology

Segments Covered in the Report
The global molecular diagnostics market is segmented on the basis of
Technology

  • In Situ Hybridization
  • Mass Spectrometry (MS)
  • Chips and Microarrays
  • PCR, Sequencing
  • Other Technologies

Applications

  • Microbiology
  • Genetic Disease Screening
  • Blood Screening
  • Infectious Diseases
  • Pharmacogenomics
  • Human Leukocyte Antigen Typing
  • Oncology

Products

  • Instruments
  • Reagent
  • Other Products

End-users

  • Hospitals
  • Laboratories
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Abbott Laboratories
  • F. Hoffmann-la Roche Ltd
  • Hologic Corporation
  • Danaher Corporation
  • Agilent Technology

 

The major players in the molecular diagnostics market include Abbott Laboratories, F. Hoffmann-la Roche Ltd, Hologic Corporation, Danaher Corporation, Agilent Technology.

In 2020, Roche Diagnostics Middle East (RDME) formed alliances with a number of laboratories in order to improve product safety, efficacy, and sustainability. Manufacturers partnered with various hospitals and laborites in the COVID-19 pandemic to increase the supply of test kits.

Novacyt collaborated with the United Kingdom's Department of Health and Social Care (DHSC) to provide COVID-19. The company agreed to supply DHSC with 288,000 tests per week for six months beginning in May 2020.

Molecular Diagnostics Market keyplayers

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