Molecular Diagnostics Market - Trends Forecast Till 2028

The Molecular Diagnostics Market is Segmented by Technology (In Situ Hybridization, Chips and Microarrays, Mass Spectrometry (MS), Sequencing, PCR, and Other Technologies), Application (Infectious Disease, Oncology, Pharmacogenomics, Microbiology, and Genetic Disease Screening, Human Leukocyte Antigen Typing, and Blood Screening), Product (Instruments, Reagents, and Other Products), End User (Hospitals, Laboratories, and Other End Users), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-HC-MDM-980

Format:  

Number of Pages: 403

Domain: Healthcare

Molecular Diagnostics Market – Trends Forecast Till 2028

The global molecular diagnostics market was valued at USD 9,371 million in 2020, and it is expected to reach 15,196 million by 2026, registering a CAGR of 10.2% during the forecast period.

As per the scope of the report, molecular diagnostic tests detect specific sequences in DNA or RNA (including single nucleotide polymorphisms (SNP), deletions, rearrangements, insertions, and others), which may or may not be associated with diseases. Molecular diagnostics has been revolutionized over the past few decades.

The increasing prevalence of infectious diseases and cancer, the rising funding for R&D, the increase in PoC testing devices and technological advancements is the factor that has supported long-term expansion for Molecular Diagnostics Market.

The COVID-19 pandemic has turned a spotlight on the molecular diagnostics industry across the world, with the rapid development of diagnostics, fast-tracked regulatory clearances, and ramped-up distribution in various regions to help curb the spread of the virus.

Molecular Diagnostics Market Research Report

In 2020, North America accounted for the largest share of the global molecular diagnostics market. The North American molecular diagnostics market's growth can be attributed to the highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.

Molecular Diagnostics Market is segmented into technology, application, product, end user and region.

On the basis of Technology

  • In situ hybridization
  • Chips and microarrays
  • Mass spectrometry (MS)
  • Sequencing
  • PCR

On the basis of Application  

  • Infectious disease
  • Oncology
  • Pharmacogenomics
  • Genetic disease screening
  • Human leukocyte antigen typing
  • Blood screening

On the basis of Product  

  • Instruments
  • Reagents

On the basis of End-User

  • Hospitals
  • Laboratories

On the basis of Region

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

Insights are provided for each region and major countries within the regions

Molecular Diagnostics Market Primary Respondent

 

Key Players

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

Recent Developments

  • January 2020, Illumina received product approval from Pharmaceuticals and Medical Devices Agency (PMDA), Japan for MiSeqDx instrument. This approval allows for the distribution of the MiSeqDx as a Class I medical device in Japan, which shows a positive impact on the market.
  • July 2020, Roche Diagnostics India launched the Cobas 8800 instrument at the National Institute of Cholera and Enteric Diseases, Kolkata, and Cobas 6800 at the National Institute for Research in Reproductive Health, Mumbai, to aid with SARS CoV-2 diagnostic testing. Roche’s Cobas 6800/8800 systems provide test results in three and half hours and offer improved operating efficiency, flexibility, and fastest time-to-time results.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Molecular Diagnostics Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 10.2% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

technology, application, product, end user and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

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

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