Global Molecular Diagnostic Market by Type (Instruments, Reagents, Software), By Application (Infectious Diseases, Oncology, Genetic Testing), By End-user (Hospitals and clinics, Diagnostic centers), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032.

Report Overview

Molecular Diagnostic Market size is expected to be worth around USD 19.1 Billion by 2032 from USD 51 Billion in 2022, growing at a CAGR of 10.6% during the forecast period from 2023 to 2032.

Molecular diagnostics can recognize illnesses like irresistible sicknesses, genetic diseases, cardiovascular infections, and neurological diseases by researching particles like DNA, RNA, and protein in a tissue or a fluid. Several strategies, for example, mass spectroscopy, cytogenetics, in situ hybridization, molecular imaging, and others, are used to analyze different diseases.

It is used in the phase of a current illness. Molecular diagnostics utilizes solid advances, such as quality articulation profiling, DNA succession examination, and biomarker identification. Thanks to modern innovations, it gives the best treatment to patients, and the conclusion cycle has become quicker and more productive.

A portion of the different responsibilities for developing the market remembers numerous incidents of bacterial and viral scourges for the world, expanding interest in point-of-care diagnostics, late improvements in pharmacogenomics, and rapidly advancing innovation.

To provide a comprehensive market analysis, the molecular diagnostics industry has been divided into segments based on product type, technology, application, end-user, and region.

Key Takeaways

• The global molecular diagnostic market is growing at a CAGR of 10.6% between 2023 and 2032.
• Molecular diagnostics play an important role in recognizing infectious diseases, genetic disorders, cardiovascular conditions, and neurological disorders by analyzing DNA, RNA, and protein molecules.
• Reagents dominate the molecular diagnostics market due to advancements in drug and biotechnology research and development.
• The rising prevalence of infectious diseases, increasing awareness, personalized medicine adoption, and biomarker identification are driving market growth.
• Infectious diseases, oncology, genetic testing, neurological diseases, and microbiology are the major application areas for molecular diagnostics.
• Clinical laboratories, due to their high Covid-19 testing volumes, hold the largest market share among end-users.
• The global molecular diagnostics market is divided into instruments, reagents, software, and services as product types.
• The COVID-19 pandemic has positively impacted the market by increasing the demand for diagnostic tests and prompting innovation in molecular diagnostic devices.
• Europe’s well-established healthcare system is driving market growth, while the Asia-Pacific region is expected to experience significant growth due to increased demand for tests.
• Key players in the molecular diagnostics market include F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Siemens Healthineers AG, and QIAGEN N.V., among others.
• Roche introduced the Cobas 5800 molecular diagnostics system in November 2021.
• The market is characterized by collaboration, acquisitions, new product launches, and expansions by major players.

Type Analysis

Instruments, Software, and services are the Main Products of Molecular Diagnostics

Based on type molecular diagnostics market is segmented into instruments, Reagents, Software, and services. Reagent segments dominated the global market and are expected to remain dominant during the forecast period. It is Applicable to advancements in Research and development actions in the drug and biotechnology industry, expansion famous for reagents reason behind the care of testing.

Universally, the coordinated standard chains that guarantee better quality, well-being, and innovative methodologies for circulation across the medical services area are infinitely affected because of the disturbance in the distribution channels worldwide.

Expansion in the frequency of irresistible sicknesses and different diseases drives the development of the molecular diagnostics market. Similarly, growth in awareness, acknowledgment of customized prescriptions, and development in the biomarker distinguishing proof in market development. However, severe administrative supplies for approving new molecular diagnostics methods are supposed to block the market’s growth during the forecast period.

An increase in the reception of molecular diagnostics in the rising economies is considered to offer abundant opportunities for market growth during the estimated period. There is an intense and viable outcome age in the atomic demonstrative tests, and it has vital applications in numerous illness diagnostics. These molecular tests or connected with high costs.

Application Analysis

The Segment of Molecular Diagnostic Treatment is rising with an increase in the rate of Diagnostics

Diseases like a malignant growth, cardiovascular sicknesses, neurological problems, diabetes, and heftiness which could be connected to the rising geriatric populace, are driving the market’s development.

An expansion in the rate of irresistible illnesses is supposed to push the market growth. An increase in different sicknesses like HIV and HPV will help in extending the market. There is an expansion of the significant market players take to work on the different financially savvy assets they offer. Molecular diagnostic tests have an intense and powerful outcome age, which has essential applications in several illness diagnostics. These molecular tests are associated with high costs.

Expansion in the predominance of irresistible illnesses and different diseases leads to the development of the molecular diagnostics market. Also, growth in awareness, acknowledgment of customized prescriptions, and effect further helps in the development of the market. Be that as it may, rigid administrative requirements for approving new molecular diagnostics strategies should prevent the market’s growth during the diagnostic period.

Then again, expansion in the reception of molecular diagnostics in the rising economies is considered to offer productive market development opportunities during the forecast period. This instrument gives efficacy, facility, and ideal effects to research centers of all sizes so clinicians can rapidly decide the best treatment systems.

Infectious disease diagnosis and monitoring have undergone a revolutionary transformation over the past few years thanks to the development and implementation of molecular diagnostic methods.

End-User Analysis

Increase in Rate of Diseases expected to Rise in Treatment of Molecular Diagnostic Centers

Based on end users, the market is segmented into hospitals and clinics, diagnostic Centres, and others, like home healthcare centers and nursing homes. Increase in the number of patients treated for different infectious diseases, cancer, and others.

Due to their high procedure volumes for Covid testing, clinical laboratories held the largest share of the market. It requires molecular analysis for diagnosis purposes and a quick start of the treatment. The high rate of irresistible sicknesses, for example, HIV, is expected to support market development because of the rise in the treatment of molecular diagnostics for HIV. Molecular diagnostics is the best strategy to recognize and describe a microorganism.

A compelling test should be accurate, fast, and have the option to measure the desirable weight. Due to its global adoption in numerous research and clinical settings, the segment is anticipated to expand during the forecast period.

Key Market Segments

By Type

• Instruments
• Reagents
• Services
• Software

 By End User

• Hospitals and clinics
• Diagnostic centers
• Others

By Application

• Infectious diseases
• Oncology
• Genetic testing
• Neurological disease
• Microbiology

Drivers

Infectious Diseases Expected to Drive Molecular Diagnostics Market Growth

A rising number of drives taken by the public authority to offer various types of assistance, like a refund for these diagnostics tests, is another element helping to develop this market.

There is a developing interest in improving molecular stages, which can be utilized in treatment. Many significant market players are planning the molecular expressive steps.

The developing improvement of this stage will offer speedy POC results, which are supposed to raise the market. The progress in the oncology molecular diagnostics and the in-vitro diagnostics relationship together with charging system for molecular diagnostics in oncology.

The investigator analysed the blood samples from individuals vaccinated against Influenza and those diagnosed with the H1N1 influenza virus for vaccine efficacy. Diagnostic testing is an essential part of infection control. The international market is expected to increase power in the coming weeks. Such as government initiatives and funding are expected to hold the market’s growth.

Restraints

The Research Facility Needs to be Changed to boost the Molecular Diagnostic Market

Molecular diagnostics instruments are too much expensive. Also, the care and protection, research facility oversight, and the raised costs are extra.

Additionally, the strict standards around administrative bodies for the endorsement of molecular diagnostics items are projected to challenge the molecular diagnostics market in the valuation period in this manner.

The significant expense of instrumentation is supposed to stop market development. Clinical laboratories across the measures market are already developing. Professionals have difficulties in ensuring effective example acquisition, saving, and transportation, particularly while taking on original advancements like NGS and Lab-on-chip PCR devices.

The research facility needs to be changed to lead exact molecular diagnostic tests utilized for microorganism location to avoid damage and guarantee proficient time management.

These outcomes in impressive outflow escalation involve keeping up with and working with high-level molecular diagnostic instruments, particularly those prepared for handling single example types.

Because of the rapid development of microbes and expanding explosions of diseases, clinical laboratories need to take on inventive innovations fit for fast diagnostic results. Talented and knowledgeable research centers need to take on imaginative creations.

Opportunity

Research and Development Activities help to Boost the Market Growth

The market is expected to grow in the coming years due to research and development activities boosting the market growth. Awareness among consumers and the high standard of living create a need for early diagnosis, which helps develop the market in this region.

As the market in US and Europe is growing, the more significant part of the players is moving their concentration to rising demand. The high interest in life science and medical services research in the developing business sector assumes a significant role in adjusting lab foundations in these nations.

It is also necessary to educate small and medium-sized community physicians in emerging economies like China and India regarding the availability of these tests and the ways in which they can be used to prevent and diagnose chronic diseases.

Similarly, growth in self-testing diagnostics devices and awareness among the patient about these earlier diagnostics is shocking. The production of molecular diagnostic platforms that can also be utilized in diagnostic treatment settings is becoming increasingly in demand.

Trends

The Key Market Players are expected to rise in Market Development and new Advanced Devices for Patients.

Molecular diagnostics is essential in evaluating sickness estimates and treatment reactions, as well as in the location of minor prolonged illnesses. In the previous 10 years, molecular diagnostics has developed, because of advances in sciences and technologies, including mechanization, combination, quantity, and the capacity to involve the instrumentation in an irregular access mode.

Moreover, the ascent in the foreword of molecular diagnostic instruments by the key market players is additionally expected to propel the market development because of the rise in the treatment of automatically progressed devices for their patients.

Regional Analysis

A Well-established and Advanced Technology in Healthcare Systems is Major Driving Factor for European countries’ growth.

A well-established and technologically advanced healthcare system is a major driving factor for the growth of the European region. Molecular Diagnostics Market In order to expand their operations, businesses operating in the European molecular diagnostics market are concentrating on hospitals, diagnostic laboratories, academic and research institutes, and pharmaceutical and biotechnology companies.

The Asia Pacific district is expected to develop appropriately during the diagnostic devices. There is an enormous interest in these tests in the Asia Pacific region.

North America leads the molecular diagnostics market because of the expansion of each medical care expanding and the approval of better medical services offices inside the area. Asia-Pacific also offers benefits in the molecular diagnostics market as an opportunity for participants working in the microscopic market, enrolling the fastest development rate during the device period.

Inferable from the developing medical services foundation, rise in expendable earnings, and deeply grounded presence of native organizations in the region. In expansion, higher reception and growth being used of molecular diagnostics, quickly developing geriatric populace, and rise in the frequency of irresistible sicknesses further fuel the development of the market in the region. The Asia Pacific district is expected to have a decent result during the conjecture period.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Industry Development

• March – 2021: Roche and GenMark Diagnostics went into Consolidation understanding for Roche to obtain GenMark Totally by gaining organization. GenMark Getting a syndromic board for the testing portfolio will enhance Roche’s ongoing symptomatic portfolio.
• QIAcube connected with MDx and announced the launch of an adaptable platform for automated sample processing available for the molecular diagnostic market.
• April – 2020: BD clinical innovation organization and BioGex Inc. molecular diagnostic organization made a declaration of submitting crisis use approval demand for the confirmation of new indicative test to U. S. Food and Drug Administration which approval will permit clinics to evaluate for Coronavirus.

Key Players Analysis

Rising Acknowledgment of Medical Treatment Approaches Help for Molecular Diagnostic Market

The company’s strong investment in research to create a superior treatment portfolio has helped it to be a leader in the market. Agilent Technologies Inc. acquired Resolution Bioscience Inc. in April 2021, which is a leader in next-generation sequencing-based oncology solutions.

The acquisition increased and expanded the company’s capabilities in NGS-based oncology diagnostics. It also provided innovative technology to meet the rapidly growing personalized medicine market. The market is also characterized by small, emerging manufacturers that focus on creating products at a lower cost.

Illumina, Inc. has partnered with top biotechnology companies to develop companion diagnostics for best-in-class therapeutics. Roche introduced Cobas 5800, a brand-new molecular diagnostics system, in November 2021 to extend access to testing and enhance patient care Illumina, Inc. has partnered with Loxo Oncology to develop next-generation sequencing-based companion diagnostics.

Mobidiag Oy (Finland), a explorer in acute care molecular diagnostic testing, was acquired by Hologic, Inc. (US). Some of the major players operating in the molecular diagnostics market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Roche Diagnostics, Siemens Healthineers AG, QIAGEN N.V. and others.

Besides, with the enormous opportunities for in vitro diagnostics, many market players are taking on different methodologies, for example, joint efforts, acquisitions, new item dispatches, and extensions, driving the market development for the diagnostic segment. BioMerieux also created a program forCollaboration with medical device and pharmaceutical companies.

Market Key Players

With the presence of many local and regional players, the market for Molecular Diagnostic is fragmented. Market players are subject to intense competition from top players, particularly those with strong brand recognition and high distribution networks. To stay on top of the market, companies have gained various expansion strategies such as partnerships and product launches.

Listed below are some of the most prominent Molecular diagnostic industry players.

• BD
• bioMérieux SA
• Bio-Rad Laboratories, Inc.
• Abbott
• Agilent Technologies, Inc.
• Danaher corporation
• Hologic Inc.
• Illumina, Inc.
• Johnson & Johnson Services, Inc.
• Thermo Fisher Scientific Inc.
• Other Key Players

Report Scope