The global molecular diagnostics market employs techniques to analyze molecular-level biological markers for precise disease diagnosis, prognosis, and monitoring. This field, inclusive of nucleic acid testing, advances personalized medicine, enhancing patient outcomes. Molecular diagnostics are crucial in addressing infectious diseases, oncology, genetic disorders, and pharmacogenomics. Notably, cancer, responsible for approximately 10 million deaths in 2020 according to the World Health Organization, underscores the critical need for advancements in molecular diagnostics for effective disease management and improved global healthcare outcomes.
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Data Bridge Market Research analyses that the Global Molecular Diagnostics Market, which was USD 20.1 billion in 2022, is expected to reach USD 54.76 billion by 2030 and is expected to undergo a CAGR of 13.3% during the forecast period from 2023 to 2030. Government initiatives and funding, including supportive policies and grants, propel research in molecular diagnostics, fostering technological advancements. This financial backing not only accelerates innovation but also plays a pivotal role in driving the overall growth and development of the molecular diagnostics market.
Key Findings of the Study
High usage of PCR is expected to drive the market's growth rate
PCR is widely employed in contract research organizations (CROs), research institutes, and hospitals, accelerating market growth. The increasing adoption of high-throughput PCR for detecting infectious and genetic diseases is expected to drive market expansion. Seegene's upcoming Allplex SARS-CoV-2 Fast PCR Assay, with a 60-minute turnaround time, enhances mass testing feasibility.
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 Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Products (Reagents and Kits, Instruments, Services, and Software), Technology (Mass Spectrometry (MS), Capillary Electrophoresis, Next Generation Sequencing (NGS), Chips And Microarray, Polymerase Chain Reaction (PCR)-Based Methods, Cytogenetics, In Situ Hybridization (ISH or FISH), Molecular Imaging, Others), Application (Oncology, Pharmacogenomics, Microbiology, Prenatal Tests, Tissue Typing, Blood Screening, Cardiovascular Diseases, Neurological Diseases, Infectious Diseases, Others), End User (Hospital, Clinical Laboratories, Academics)
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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), Hologic, Inc., (U.S.), bioMérieux (France), Abbott (U.S.), QIAGEN (Netherlands), Thermo Fisher Scientific (U.S.), Siemens (Germany), Danaher (U.S.), Myriad Genetics Inc. (U.S.), Illumina Inc. (U.S.), Agilent Technologies Inc. (U.S.), BD (U.S.), DiaSorin S.p.A (Italy), Grifols S.A. (Spain), Quidel Corporation (U.S.), Genetic Signatures (Australia), MDxHealth, Inc. (U.S.), Exact Sciences Corporation (U.S.), Biocartis (Belgium), TBG Diagnostics Limited (Australia), GenMark Diagnostics Inc. (U.S.), Luminex Corporation (U.S.), HTG Molecular Diagnostics Inc. (U.S.), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), Molbio Diagnostics Pvt. Ltd. (India) geneOmbio (India)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global molecular diagnostics market is segmented on the basis of products, technology, application, and end user.
- On the basis of products, the global molecular diagnostics market is segmented into reagents and kits, instruments and services, and software
- On the basis of technology, the global molecular diagnostics market is segmented into mass spectrometry (MS), capillary electrophoresis, next generation sequencing (NGS), chips and microarray, polymerase chain reaction (PCR)-based methods, cytogenetics, in situ hybridization (ISH or FISH), molecular imaging and others
- On the basis of application, the global molecular diagnostics market is segmented into oncology, pharmacogenomics, microbiology, prenatal tests, tissue typing, blood screening, cardiovascular diseases, neurological diseases, infectious diseases, and others
- On the basis of end user, the global molecular diagnostics market is segmented into hospital, clinical laboratories, academics, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global molecular diagnostics market players in global molecular diagnostics market are GenMark Diagnostics Inc. (U.S.), Luminex Corporation (U.S.), HTG Molecular Diagnostics Inc. (U.S.), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), Molbio Diagnostics Pvt. Ltd. (India) geneOmbio (India)
Market Developments
- In 2021, PerkinElmer, Inc introduced a highly sensitive Point-of-Care (PoC) antigen test as part of its COVID-19 diagnostic portfolio. The PerkinElmer COVID-19 Antigen Test is designed for the detection of the SARS-CoV-2 nucleocapsid protein antigen in nasal (NS) or nasopharyngeal (NP) swab specimens. This innovative PoC test enhances the ability to rapidly and accurately identify the presence of the virus, offering a valuable tool in the ongoing efforts to combat the spread of COVID-19
- In 2021, Roche successfully acquired TIB Molbiol Group, known for its 45 CE-IVD-approved assays. These assays cover a spectrum of diagnostics, including inherited genetic testing, infectious diseases, transplant medicine, and hematology testing, expanding Roche's diagnostic portfolio
- In 2020, Roche Diagnostics India introduced the Cobas 8800 and Cobas 6800 at the National Institute of Cholera and Enteric Diseases in Kolkata for SARS CoV-2 diagnostic testing. These systems, with a turnaround time of three and a half hours, enhance operational efficiency and flexibility, providing swift results
Regional Analysis
Geographically, the countries covered in the global molecular diagnostics 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 global molecular diagnostics market during the forecast period 2023-2030
North America dominates the global molecular diagnostics market, driven by heightened per capita healthcare spending and a rising demand for advanced healthcare services. The region's high living standards and widespread consumer awareness of early diagnosis, coupled with a well-established healthcare system, serve as pivotal factors propelling market growth. These elements position North America at the forefront of advancements and adoption in the field of molecular diagnostics.
Asia-Pacific is estimated to be the fastest-growing region in the global molecular diagnostics market in the forecast period 2023-2030
Asia-Pacific is expected to dominate the global molecular diagnostics market, fueled by a substantial elderly population, rising cancer incidence, and diverse infectious diseases in countries such as China and India. The region benefits from advanced healthcare infrastructure, further propelling market growth. The confluence of these factors positions Asia-Pacific as a key player in the molecular diagnostics landscape, showcasing significant potential for advancements and increased adoption of these technologies.
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