Molecular Diagnostics Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2020 and Forecast 2021 to 2027

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Molecular Diagnostics Market : By Technology (Polymerase chain reaction, Microarray, Next-generation sequencing, Isothermal nucleic acid amplification, Hybridization, Others), By Application (Caner, Blood screening, Infectious diseases, Microbiology, Genetic tests, Others), BY End User (Hospitals, Diagnostic Centres, Research institutes, Others), and Geography

 

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Report

Description

The global molecular diagnostics market size valued USD 10.92 billion in 2020 and expected to reach USD 18.6 billion by 2027, at a CAGR of 9.4% during the forecast period 2021-2027. Global Molecular Diagnostics Market are the tests that are carried out for the detection of sequences present in the DNA and RNA including deletions, insertions, rearrangements, single nucleotide polymorphism, and others for the diagnosis of diseases. Global Molecular Diagnostics Market cumulative techniques analyze the biological markers at a molecular level, like proteome and genome. Molecular diagnostics are commonly used in the diagnosis of cancer, infectious diseases, and others. These are also used in the genetic predisposition checking to a disease. Global Molecular Diagnostics Market is in the developing stage owing to increase in the prevalence of cancer, infectious disease such as HIV (according to World Health Organisation, global health observatory (GHO) data, in 2013, approximately 34-38 million people suffered from HIV infection worldwide), and hepatitis among others. A rise in research activities for the prevention of genetic disorders also fuels the molecular diagnostics market. Acquisitions & mergers, collaborations, and innovation of novel diagnostic methods are some key strategies followed by companies for increasing their revenue in the molecular diagnostics market. For instance, in August 2015, Roche Diagnostics has acquired GeneWeave Biosciences, Inc. for strengthening its portfolio in microbiology diagnostics. Moreover, in April 2015, Alere Inc. received FDA approval for Alere I Strep, a molecular diagnostic test for the detection of Group A Streptococcus bacteria.

Molecular Diagnostics Market

MARKET SUMMARY
-
9.4% CAGR
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 9.4%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– North America

Molecular Diagnostics Market

  • The report on global molecular diagnostics market gives historical, current and future market sizes (US$ Bn) based on product type, technology, application, end user and region.
  • molecular diagnostics market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Cepheid Inc.
  • Biomerieux
  • Beckman Coulter, Inc.
  • Abbott Laboratories
  • Grifols
  • Hologic, Inc.
  • Qiagen
Molecular Diagnostics Market

Drivers And Restraints

Increase in the prevalence of infectious diseases and various cancers, a rise in demand for personalized medicines, technological advancements in the diagnostic tests, and rise in the preference for biomarker identification tests are anticipated to fuel the molecular diagnostics market. Moreover, a rise in geriatric population, increase in healthcare expenditure, developed healthcare infrastructure, and favourable government initiatives for preventing the genetic disorders are also expected to boost the molecular diagnostics market over the forecast period. However, stringent regulatory policies, high cost for testing, issues with quality control, and lack of reimbursement policies for the diagnosis might restrain the growth of molecular diagnostics market.


North-America got significant share

Molecular Diagnostics Market

Geographically, global molecular diagnostics market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Increase in the prevalence of various infectious diseases, rise in the government funding for the research in molecular diagnostics, wide range of applications, and availability of skilled workforce in North America anticipated to create dominant for molecular diagnostics in the region. Europe market is growing significantly owing to well-developed healthcare infrastructure, initiatives for the prevention of genetic disorders, and increase the number of biotechnological companies is driving the molecular diagnostics market. Moreover, rise in geriatric population in Japan China, and India, an increase in the prevalence of infectious diseases and cancer in Asia Pacific has created lucrative growth for molecular diagnostics market in the region.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Notable Market Developments

  • In March 2016, DiaSorin S.p.An acquired Quest Focus Diagnostics, Inc. for development, manufacturing, and commercialization of molecular diagnostic products.

Key

Report Outline

Molecular Diagnostics Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Danaher Corporation (U.S)
  • Biomerieux (Sofiana s.a.) (France)
  • Beckman Coulter, Inc. (U.S.)
  • Becton, Dickinson and Company (U.S.)
  • Siemens Healthcare GmbH (Germany)
  • Abbott Laboratories (U.S.)
  • Grifols (Spain)
  • Hologic, Inc. (U.S.)
  • Qiagen (U.S.)
  • Alere Inc. (U.S.)
  • Roche Diagnostics (U.S.)
  • DiaSorin S.p.A. (American Standard Companies) (Italy)

Description

The global molecular diagnostics market size valued USD 10.92 billion in 2020 and expected to reach USD 18.6 billion by 2027, at a CAGR of 9.4% during the forecast period 2021-2027. Global Molecular Diagnostics Market are the tests that are carried out for the detection of sequences present in the DNA and RNA including deletions, insertions, rearrangements, single nucleotide polymorphism, and others for the diagnosis of diseases. Global Molecular Diagnostics Market cumulative techniques analyze the biological markers at a molecular level, like proteome and genome. Molecular diagnostics are commonly used in the diagnosis of cancer, infectious diseases, and others. These are also used in the genetic predisposition checking to a disease. Global Molecular Diagnostics Market is in the developing stage owing to increase in the prevalence of cancer, infectious disease such as HIV (according to World Health Organisation, global health observatory (GHO) data, in 2013, approximately 34-38 million people suffered from HIV infection worldwide), and hepatitis among others. A rise in research activities for the prevention of genetic disorders also fuels the molecular diagnostics market. Acquisitions & mergers, collaborations, and innovation of novel diagnostic methods are some key strategies followed by companies for increasing their revenue in the molecular diagnostics market. For instance, in August 2015, Roche Diagnostics has acquired GeneWeave Biosciences, Inc. for strengthening its portfolio in microbiology diagnostics. Moreover, in April 2015, Alere Inc. received FDA approval for Alere I Strep, a molecular diagnostic test for the detection of Group A Streptococcus bacteria.

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