The Molecular Diagnostics Market report from Stratview Research is an in-depth study of the market dynamics across the globe. According to the report, the market is segmented by Product Type (Reagents & Kits, Instruments, and Others), by Technique Type (Polymerase Chain Reaction, Isothermal Amplification, Hybridization, Sequencing, Microarray, and Others), by Application Type (Infectious Diseases, Blood Screening, Oncology, Genetic Tests, and Others), by End-User Type (Hospitals, Diagnostic Laboratories, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Insights
The molecular diagnostics market was estimated at USD 23.6 billion in 2021 and is likely to grow at a CAGR of 4.6% during 2022-2027 to reach USD 30.9 billion in 2027.
What is a molecular diagnostic?
Molecular diagnostic is a set of techniques that employ molecular biology to analyze biological markers in the genome and proteome, as well as how cells express their genes as proteins.
COVID-19 IMPACT
The global pandemic Covid-19 impacted almost every industry and shook the market. However, the pandemic increased the need of developing diagnostic instruments and diagnostic service centers and hence there was a positive impact on the molecular diagnostics market.
Market Drivers
The molecular diagnostics market growth is mainly driven by-
- Increasing incidence of cancer,
- Growing prevalence of infectious diseases,
- Increasing occurrence of bacterial and viral diseases,
- Advancements in molecular diagnostic techniques,
- Government funding to support R&D in molecular diagnostics.
Segment Analysis
The report provides detailed insights about the segment and attractive opportunities in each segment. Market segmentation helps businesses learn about the target customers, minimize risk by figuring out which products are the most likely to earn a profit, and find the best ways to promote and deliver those products to the market.
This report is segmented specifically by the following –
Based on the product type, the market is segmented as reagents & kits, instruments, and others. The reagents & kits segment is expected to hold the major share of the market during the forecast period. The high use of reagents in molecular diagnostic testing, increasing demand for over-the-counter diagnostic tests, and growing adoption of these tests in non-medical facilities such as home self-testing are driving the segment's growth.
Based on the application type, the market is segmented as infectious diseases, blood screening, oncology, genetic tests, and others. Infectious diseases are estimated to account for the major share of the market during the forecast period on account of the increasing number of infectious diseases such as SARS-CoV-2, new multidrug-resistant TB, H1N1, and HIV strains.
In terms of regions, North America is expected to be the leading region in the market during the forecast period, owing to a growing geriatric population, increasing demand for point-of-care diagnostics, and outbreaks of bacterial and viral diseases. Furthermore, technological advancements, the presence of well-established diagnostic systems, and development in the healthcare sector are expected to drive market growth during the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Research Methodology
The Molecular Diagnostics Market report is the outcome of thorough analysis of the factors impacting the market size and forecast. Several articles, whitepapers, annual reports, and millions of data are analysed to derive meaningful insights related to the market. Exploratory and in-depth primary interviews are conducted with the industry veterans to gain vital insights that are critical for market analysis and forecasting.
Key Players
According to the report, below given is a list of key players active in the Molecular Diagnostics Market -
- Agilent Technologies, Inc.
- BioMerieux SA
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Illumina, Inc.
- Novartis AG
- QIAGEN N.V.
- Siemens Healthineers AG
- TBG Diagnostics Limited
- Thermo Fisher Scientific Inc.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries. With this report, Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] or connect with our experts at - +1-313-307-4176
Comments