Molecular Diagnostics Market

Molecular Diagnostics Market (Distribution by Product (Instruments, Reagents, Services and Software, and Other Products), by Technology (Polymerase Chain Reaction (PCR), Hybridization, DNA sequencing, Microarray, Isothermal Nucleic Acid Amplification Technology (INAAT) and Other Technologies), by Application (Oncology, Infectious Diseases, Genetic Testing, Blood Screening and Other Applications), by Sample Type (Blood, Serum, Plasma, Urine and Other Sample Types), by End Users (Diagnostics Laboratories, Hospitals and Clinics, and Other End Users) and Key Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America): Industry Trends and Global Forecasts, 2023-2035

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Molecular Diagnostics Market Overview 2023-2035

The molecular diagnostics market is a rapidly growing industry that plays a critical role in the diagnosis and treatment of various diseases. Molecular diagnostics involves the use of advanced technologies to analyze biological markers at the molecular level, providing accurate and reliable results. The market is driven by factors such as the increasing prevalence of infectious diseases and cancer, growing funding for research and development, and rising technological advancements in the field.

Moreover, the COVID-19 pandemic led to a surge in revenue for companies operating in the infectious diseases segment, with a race to develop novel and rapid diagnostic kits for the detection of coronavirus. However, with the rising number of vaccinations globally, the demand for COVID-19 testing is expected to decline during the forecast period. The geriatric population globally is increasing, increasing the risk of getting numerous diseases, including cancer, cardiovascular diseases, obesity, neurological disorders, and diabetes. The global geriatric population is expected to grow over the forecast period, which is anticipated to be a high-impact rendering driver of the market. The rising incidence of infectious diseases and sexually transmitted infections (STIs), such as HIV and HPV, is expected to propel market growth. The growing initiatives by market players to improve access to cost-effective resources are anticipated to drive the molecular diagnostics market growth. However, high prices associated with molecular tests are one of the major factors impeding this market.

Market Drivers

Based on the National Institutes of Health's projection, approximately 1,958,310 cancer cases in the United States can observed in 2023, driving the demand for early cancer diagnosis globally. Molecular diagnostics plays a crucial role in the early detection of cancer by identifying cancer-related biomarkers at an early stage, enabling healthcare providers to diagnose cancer before symptoms arise and initiate treatment earlier. As the number of cancer cases continues to rise, the demand for accurate and precise diagnostic methods grows, presenting a driver for the molecular diagnostics market growth.

Market Restraints

The presence of alternative diagnostic methods, such as traditional laboratory tests or imaging techniques, poses a challenge for molecular diagnostics to gain market share and acceptance, especially if the alternatives are perceived as more cost-effective or easier to implement. Molecular diagnostics often involve sophisticated technologies and specialized equipment, making them more expensive than some conventional diagnostic methods. This cost factor can hinder their adoption, especially in resource-limited settings where healthcare facilities may not have the financial means to invest in expensive molecular diagnostic infrastructure. Thus, the presence of alternative testing methods in the market creates a restraint for the market.

Market Opportunities

The key market opportunities for the molecular diagnostics market is being driven by the less invasive testing methods which enable earlier disease detection and continuous monitoring, leading to improved treatment outcomes and patient management. Moreover, patients often prefer non-invasive or minimally invasive procedures due to reduced pain, shorter recovery times, and lower risk of complications. The aging population, more susceptible to chronic diseases requiring frequent monitoring, benefits from less invasive testing methods. Molecular diagnostics has facilitated the development of blood tests that can detect specific genetic or protein markers associated with various diseases, providing valuable information without invasive procedures. This rising demand for less invasive testing methods presents significant opportunities for the molecular diagnostics market.

Molecular Diagnostics Market Report Segmentation Molecular Diagnostics Market Size, 2023-2035 Molecular Diagnostics Market Trends, by Region, 2023 to 2035

 

Molecular Diagnostics Market Segments Overview

The molecular diagnostics market forecast on the basis of distribution by product (instruments, reagents, services and software, and other products). On the basis of technology (polymerase chain reaction (PCR), hybridization, DNA sequencing, microarray, isothermal nucleic acid amplification technology (INAAT) and other technologies). On the basis of application (oncology, infectious diseases, genetic testing, blood screening and other applications). On the basis of sample type (blood, serum, plasma, urine and other sample types). On the basis of end users (diagnostics laboratories, hospitals and clinics, and other end users). By geographical regions, the market is analyzed across North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America.

Technology Analysis Segment

Based on technology, the molecular diagnostics market trends is analyzed across polymerase chain reaction (PCR), hybridization, DNA sequencing, microarray, isothermal nucleic acid amplification technology (INAAT) and other technologies. The polymerase chain reaction (PCR) technology is the largest segment in the molecular diagnostics market, with its use in detecting COVID-19 and other infectious diseases driving market growth. The increasing use of high-throughput PCR technology for infectious and genetic diseases is expected to further drive market growth. On the other hand, sequencing technologies for molecular diagnostics is one of the fastest-growing segments which includes DNA sequencing processes and emerging NGS technologies, such as sequencing platforms and RNA sequencing. DNA sequencing technologies are linked to drug discovery, novel drug development, and personalized medicine. 

Regional Analysis Segment

Based on region, the molecular diagnostics market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to hold a larger revenue share in the molecular diagnostics market owing to the rising epidemiology of infectious and chronic diseases. The market is anticipated to grow further attributing to research and development activities, consumer awareness, and the high standard of living, which create a need for early diagnosis. The well-established and technologically advanced healthcare system in Europe is a major driving factor for the region's growth. Similarly, the Asia Pacific region is also expected to experience significant growth in the molecular diagnostics market size given to the increasing demand for tests, market penetration, and an expanding patient pool for early prevention and diagnosis of various therapies.

Top Companies Engaged in Molecular Diagnostics Market

Key market players that are engaged in molecular diagnostics market are (in alphabetical order) Abbott Laboratories, Agilent Technologies Inc, Biocartis, bioMerieux, Bio-Rad Laboratories, Hologic, Illumina, Qiagen, Siemens Healthineers and Thermo Fisher Scientific. This market report includes an easily searchable excel database of all the molecular diagnostics companies worldwide.

Molecular diagnostics market Report Highlights

Aspects Details

by Product

  • Instruments
  • Reagents
  • Services and Software
  • Other Products

by Technology

  • Polymerase Chain Reaction (PCR)
  • Hybridization
  • DNA sequencing
  • Microarray
  • Isothermal Nucleic Acid Amplification Technology (INAAT)
  • Other Technologies

by Application

  • Oncology
  • Infectious Diseases
  • Genetic Testing
  • Blood Screening 
  • Other Applications

by Sample Type

  • Blood
  • Serum
  • Plasma
  • Urine 
  • Other Sample Types

by End Users

  • Diagnostics Laboratories
  • Hospitals and Clinics
  • Other End Users

Key Geographical Regions

  • North America (U.S., Canada, Mexico)
  • Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
  • Abbott Laboratories
  • Agilent Technologies Inc
  • Biocartis
  • bioMerieux
  • Bio-Rad Laboratories
  • Hologic
  • Illumina
  • Qiagen
  • Siemens Healthineers
  • Thermo Fisher Scientific

 

Recent Developments in Molecular Diagnostics Market

There has been recent activity in the molecular diagnostics industry and some of the key developments have been mentioned below:

  • In April 2023, bioMérieux and Oxford Nanopore Technologies announced a strategic partnership to introduce nanopore-based molecular sensing technology into the infectious diseases space.
  • In February 2023, Siemens Healthineers and Unilabs entered into a multi-year partnership aiming at enhancing patient care by investing in Unilabs' laboratory infrastructure. As part of the agreement, Siemens Healthineers will install various analyzers and automation solutions in the initial years to modernize Unilabs' healthcare infrastructure and improve customer service and quality.

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