Molecular diagnostics is a rapidly growing field that is revolutionizing the way diseases are diagnosed and treated. Molecular diagnostics uses advanced technologies to analyze the genetic makeup of cells and tissues. This information can be used to identify diseases at an early stage, when they are more treatable, and to tailor treatment plans to the individual patient's needs. Chronic diseases, such as cancer, heart disease, and diabetes, are often caused by genetic mutations, and molecular diagnostics can be used to identify these mutations. This information can then be used to develop early detection and prevention strategies, as well as to tailor treatment plans to the individual patient's needs.
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Data Bridge Market Research analyses that the Molecular Diagnostics Services Market is expected to grow at a CAGR of 7.90% in the forecast period of 2023 to 2030 and is expected to reach USD 221,850.59 thousand by 2030 from USD 120,750.50 thousand in 2022. The increasing prevalence of chronic diseases is another major driver of the global molecular diagnostics services market. Chronic diseases, such as cancer, heart disease, and diabetes, are often caused by genetic mutations, and molecular diagnostics can be used to identify these mutations. This information can then be used to develop early detection and prevention strategies, as well as to tailor treatment plans to the individual patient's needs. The growing technological advancements in the field of molecular diagnostics are also contributing to the growth of the market.
Growing demand for personalized medicines is expected to drive the market's growth rate
The rising demand for personalized medicines is one of the major drivers of the global molecular diagnostics services market. Personalized medicines are tailored to the individual patient's genetic makeup, and molecular diagnostics can be used to identify the genetic mutations that are associated with a particular disease. This information can then be used to develop targeted therapies that are more effective and have fewer side effects than traditional therapies.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Service Type (Instrument Repair Services, Training Services, Compliance Services, Calibration Services, Maintenance Services, Scalable Automation Services, Turnkey Services, Instrument Relocation Services, Hardware Customization, Performance Assurance Services, Design and Development Services, Supply Chain Solutions, New Product Introduction Services, Manufacturing Services, Environmental & Regulatory Services, Medical Management Systems Certification & Auditing, Clinical Research Services, Consultative Services, and Other Services), Technology (PCR, Real Time PCR, Next Generation Sequencing, and Other Technologies), End User (Hospitals, Diagnostic Centers, Academic & Research Institutions, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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F. Hoffmann-La Roche Ltd (Switzerland), Danaher. (U.S.),, QIAGEN (Germany), Thermo Fisher Scientific Inc. (U.S.), Abbott (U.S.), bioMérieux S.A. (France), and Hologic, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The global molecular diagnostics services market is categorized into three notable segments such as service type, technology, and end users.
- Based on service type, the market is segmented into instrument repair services, training services, compliance services, calibration services, maintenance services, scalable automation services, turnkey services, instrument relocation services, hardware customization, performance assurance services, design and development services, supply chain solutions, new product introduction services, manufacturing services, environmental & regulatory services, medical management systems certification & auditing, clinical research services, consultative services, and other services.
The instrument repair services segment of service type is anticipated to dominate the molecular diagnostics services market
The instrument repair services segment is expected to dominate the global molecular diagnostics services market with a CAGR of 9.5% in the forecast period of 2023 to 2030 as this type of service is typically used in numerous regions across the globe.
- Based on technology, the market is segmented into PCR, real time PCR, next generation sequencing, and other technologies
The real time PCR segment of technology type is anticipated to dominate the molecular diagnostics services market
Real time PCR segment is expected to dominate the global molecular diagnostics services market a CAGR of 8.2% in the forecast period of 2023 to 2030 as this type of service has higher demand in the market
- Based on end user, the market is segmented into hospitals, diagnostic centers, academic & research institutions, and others. The hospitals segment is expected to dominate the global molecular diagnostics services market with a CAGR of 8.3% in the forecast period of 2023 to 2030 as this type of end user has more demand for molecular diagnostics services in the market.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: F. Hoffmann-La Roche Ltd (Switzerland), Danaher. (U.S.),, QIAGEN (Germany), Thermo Fisher Scientific Inc. (U.S.), Abbott (U.S.), bioMérieux S.A. (France), and Hologic, Inc. (U.S.).
Market Development
- In 2020, Abbott launched the ID NOW COVID-19 test, a molecular point-of-care test that can diagnose COVID-19 in less than 5 minutes. This test is a significant development in the fight against COVID-19, as it can provide results much faster than traditional laboratory tests. This means that people who are suspected of having COVID-19 can be diagnosed and isolated more quickly, helping to prevent the spread of the virus.
- In 2022, Seegene announced the launch of its Allplex SARS-CoV-2 Fast PCR Assay. This test has a turnaround time of 60 minutes, making it suitable for mass testing. The Allplex SARS-CoV-2 Fast PCR Assay is a multiplex test, which means that it can detect multiple strains of the SARS-CoV-2 virus at the same time. This makes it a valuable tool for tracking the spread of the virus and for identifying new variants.
- In 2022, Biodesix announced the launch of its GeneStrat NGS Test. This test is a blood-based tumor profiling test that can help physicians to treat advanced lung cancer based on mutations. The GeneStrat NGS Test is a next-generation sequencing (NGS) test, which means that it can sequence the entire genome of a tumor. This allows physicians to identify mutations that are driving the growth of the tumor and to target these mutations with specific therapies.
- In 2019, Roche Diagnostics launched a new companion diagnostic test, VENTANA HER2 Dual ISH for breast cancer. This test is used to identify patients with breast cancer who are HER2-positive, which means that their tumors have too much of the HER2 protein. HER2-positive breast cancer is a more aggressive form of the disease, but it can be treated with targeted therapies that specifically target the HER2 protein. The VENTANA HER2 Dual ISH test is a valuable tool for identifying HER2-positive breast cancer patients so that they can receive the appropriate treatment.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the molecular diagnostics services market during the forecast period 2023-2030
North America is the largest market for molecular diagnostics services. The growth of the market in North America is being driven by the high prevalence of chronic diseases, the increasing demand for personalized medicines, and the availability of advanced technologies.
Asia-Pacific is estimated to be the fastest growing region in the molecular diagnostics services market in the forecast period 2023-2030
The growth of the market in Asia-Pacific is being driven by the growing healthcare spending, the increasing prevalence of chronic diseases, and the rising government initiatives to promote the adoption of molecular diagnostics.
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