Molecular Diagnostics Market Growth & Trends
The global molecular diagnostics market size is expected to reach USD 31.9 billion by 2030, and is expected to decline at a CAGR of -1.6% from 2022 to 2030, according to a recent study by Grand View Research, Inc. The contraction in the market will be due to the decline in demand for molecular testing for COVID-19. However, factors such as the rising geriatric population and increasing demand for technologies such as NGS is expected to drive market growth.
Molecular diagnostics plays an important role in infectious disease testing as they can yield effective and fast results. Hence, the increasing prevalence of hospital-acquired infections & infectious diseases is projected to drive the market over the forecast period. Increasing incidence and awareness regarding genetic disorders is further anticipated to accelerate market growth. The miniaturization of three basic molecular assays-nanobiotechnology, biochips, and microfluidics are expected to increase the accuracy and specificity of diagnostic outcomes, and hence, increase the demand for molecular diagnostic products. These improvements are expected to enhance the availability of PoC molecular diagnostic tests to yield quick and effective test results.
Browse full report with Table of Content (PDF with All Related Graph and Chart)
@: https://www.grandviewresearch.com/industry-analysis/molecular-diagnostics-market
Companies are expanding their product portfolios with the acquisition of smaller companies. For instance, in March 2021, Hologic announced the acquisition of Diagenode-a molecular diagnostic company with a wide range of PCR instruments, facilitating the detection of over 30 bacteria-for USD 159 million. Similarly, in April 2021, F. Hoffmann-La Roche Ltd. acquired GenMark Diagnostics, Inc. at a price of USD 24.05 per share in cash, and it holds around 82.89% of total shares of GenMark Diagnostics. GenMark Diagnostics, Inc. has proprietary technologies, such as eSensor XT-8 and ePlex, which can be utilized in developing tests for infectious diseases, including bloodstream infections.
Key players are enhancing their range of testing options for real-time PCR instruments by increasing R&D activities for the development of kits that target emerging diseases or by entering into agreements with other kit manufacturing companies. These include the introduction of Cobas HPV test assay in Cobas 4800 by Roche Diagnostics. The introduction of tuberculosis testing Xpert assay on GeneXpert platform by Cepheid is an example of such advancement. Such advances are anticipated to drive the global molecular diagnostics market.
Molecular Diagnostics Market Report Highlights
· Reagents dominated the overall market majorly driven by the high usage rate of reagents due to the COVID-19 pandemic
· PCR technology accounted for a revenue share of 64.6% in 2021. The increased use of PCR for the diagnosis of COVID-19 and other infectious diseases is one of the major reasons for its dominance
· Self-testing or OTC segment is anticipated to be the fastest-growing segment, over the forecast period, as it facilitates early diagnosis and constant patient monitoring. The launch of COVID-19 molecular self-tests is also expected to boost the growth of this segment.
· North America commanded the highest revenue share in 2021, driven by a high disease prevalence, proactive government measures, high testing rate for COVID-19, technological advancements, and improvements in healthcare infrastructure.
Request a free sample copy or view report summary @ : https://www.grandviewresearch.com/industry-analysis/molecular-diagnostics-market/request/rs1
Molecular Diagnostics Market Segmentation
For this report, Grand View Research has segmented the global molecular diagnostics market based on product, test location, technology, application, and region:
Product Outlook (Revenue, USD Million, 2017 - 2030)
· Instruments
· Reagents
· Others
Test Location Outlook (Revenue, USD Million, 2017 - 2030)
· Point-of-Care
· Self-test or Over the Counter
· Central Laboratories
Technology Outlook (Revenue, USD Million, 2017 - 2030)
· Polymerase chain reaction (PCR)
o PCR, by Type
o Multiplex PCR
o Other PCR
o PCR, by Product
o Instruments
o Reagents
o Others
· In Situ Hybridization (ISH)
o Instruments
o Reagents
o Others
· Isothermal Nucleic Acid Amplification Technology (INAAT)
o Instruments
o Reagents
o Others
· Chips and Microarrays
o Instruments
o Reagents
o Others
· Mass Spectrometry
o Instruments
o Reagents
o Others
· Sequencing
o Instruments
o Reagents
o Others
· Transcription Mediated Amplification (TMA)
o Instruments
o Reagents
o Others
· Others
o Instruments
o Reagents
o Others
Application Outlook (Revenue, USD Million, 2017 - 2030)
· Oncology
o Breast Cancer
o Prostate Cancer
o Colorectal Cancer
o Cervical Cancer
o Kidney Cancer
o Liver Cancer
o Blood Cancer
o Lung Cancer
o Other Cancer
· Pharmacogenomics
· Infectious Diseases
o Methicillin-resistant Staphylococcus Aureus (MRSA)
o Clostridium Difficile
o Vancomycin-resistant Enterococci (VRE)
o Carbapenem-resistant Bacteria
o Flu
o Respiratory Syncytial Virus (RSV)
o Candida
o Tuberculosis and Drug-resistant TBA
o Meningitis
o Gastrointestinal Panel Testing
o Chlamydia
o Gonorrhea
o HIV
o Hepatitis C
o Hepatitis B
o Other Infectious Disease
· Genetic Testing
o Newborn Screening
o Predictive and Presymptomatic Testing
o Other Genetic Testing
· Neurological Disease
· Cardiovascular Disease
· Microbiology
· Others
Regional Outlook (Revenue, USD Million, 2017 - 2030)
· North America
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
· Asia Pacific
o Japan
o China
o Malaysia
o Australia
· Latin America
o Brazil
o Mexico
o Chile
· Middle East & Africa
o South Africa
o Saudi Arabia
o Jordan
Inquire more or share questions if any before the purchase on this report @:
https://www.grandviewresearch.com/inquiry/233/ibb
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/europe-molecular-diagnostics-market/request-sample The key driving factors responsible for the growth of Europe Molecular Diagnostics market : The Europe molecular diagnostics industry on the source of Type of Application Pharmacogenomics, Neurological Disease, Microbiology, Cardiovascular Disease, Infectious Diseases.
The subdivision of Infectious Diseases held the biggest stake of the market, due to the greater occurrence of HIV.
The Europe molecular diagnostics market on the source of Type of Technology could span Transcription-mediated Amplification, Mass Spectrometry, Isothermal Nucleic Acid Amplification Technology [INAAT], PCR, [Multiplex PCR], Sequencing, Chips & Microarrays, and In Situ Hybridization.
It could be credited mostly to the growing use of molecular diagnostics in the arena of pharmacogenomics and the increasing practice of multiplex PCR skills.
The increasing demand for speedy analysis together with the readiness of freshly developed skill of Point of Care to observe the reactions of medicine, in patients through cardiac sicknesses, will subsidize in the direction of the progress of this subdivision.
The subdivision of reagents is likewise projected to boost at a dual digit CAGR above the prediction period.
