Molecular Diagnostics Market Size By Application (Infectious Disease, Blood Screening, Genetic Testing, Oncology Testing), By Technology (PCR, In Situ Hybridization, Chips And Microarrays, Mass Spectrometry, Sequencing, Isothermal Amplification), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Feb 2020  |  Report ID: GMI434  |  Authors: Sumant Ugalmugle

Report Format: PDF   |   Pages: 180   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry trends

Molecular Diagnostics Market size was over USD 8.3 billion in 2019 and is expected to grow at 9% CAGR from 2020 to 2026. The molecular diagnostics is a collective term for techniques used to analyse biological markers involved in a wide range of human ailments. Molecular diagnostic tests are the elementary part of a successful health care system. Molecular diagnostic tests provide critical information that helps the healthcare providers and patients to make the right medical decisions for better outcome of a medical procedure.
 

Molecular Diagnostics Market
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Molecular diagnostics often provide quantitative measurements that inform every stage of care and enable successful management of health conditions. Molecular diagnostics tools have benefited the clinical setting, providing rapid and sensitive approaches for the detection and monitoring of diverse infectious diseases, various kinds of cancer, and other chronic diseases.
 

Molecular Diagnostics Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 8.3 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 9.3% 2026 Value Projection: 15.4 Billion (USD)
Pages: 180 Tables, Charts & Figures: 227
Geographies covered (39): U.S., Canada, Germany, UK, France, Italy, Spain, Portugal, Denmark, Norway, Sweden, Russia, Japan, China, India, Australia, Sri Lanka, Malaysia, Pakistan, Philippines, South Korea, New Zealand, Vietnam, Thailand, Brazil, Mexico, Argentina, Colombia, Chile, Peru, South Africa, Nigeria, Morocco, Egypt, Saudi Arabia, UAE, Jordan, Qatar, Israel
Segments covered: Application, Technology
Companies covered (24): Abbott Molecular, Agilent (Dako), Analytik Jena AG, Becton, Dickinson and Company, Biocartis Group NV, BioFire Diagnostics, Biomerieux, Bio-Techne, Cepheid, Bio-Rad Laboratories, Cleaver Scientific, Danaher Corporation, GenMark Diagnostics, Hologic (Gen Probe), HTG Molecular Diagnostics, Johnson & Johnson, MDxHealth, Myriad Genetics, Inc, Novartis (Grifols), Qiagen Gaithersburg, Inc., Roche Diagnostics, SCILOGEX, LLC, Siemens Healthcare, Sysmex
Growth Drivers:
  • Technological advances and increasing awareness towards early disease diagnosis in North America
  • Escalating demand for POC diagnostics in Asia Pacific
  • Increasing geriatric population
  • Increasing number of R&D initiatives in developing economies
  • Rising incidences of infectious diseases
Pitfalls & Challenges:
  • Lack of clear and uniform regulatory framework
  • Increasing cost of disease diagnostics

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Increasing geriatric population will offer lucrative growth opportunity for the molecular diagnostics industry

Molecular Diagnostics Market

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The elderly population is susceptible to chronic diseases such as lung diseases, Parkinson's disease, heart disease, diabetes, and require molecular diagnostics that will drive the market growth. According to the Centers for Disease Control and Prevention (CDC), Alzheimer’s disease and Dementia are most common in adults aged 60 years and above, and the risk further increases with age. Developed as well as developing countries are facing age-related chronic disease burden that will foster the molecular diagnostics market growth over the forecast period.
 

Molecular diagnostics enables early-stage diagnosis of various diseases, enabling healthcare providers to make prudent decisions even at the first stage of medical therapy or treatment. Molecular diagnostics result leads to better and successful patient outcomes. Such promising scenario is expected to drive the molecular diagnostics industry growth in the foreseeable future.
 

Increasing number of blood screening procedures in developed and developing nations will augment the segment growth

The blood screening market was valued at over USD 2 billion in 2019 and will witness a robust growth. The industry is working constantly to improve the clinical outcomes of blood screening molecular diagnostics, thereby propelling the segmental growth.
 

Blood screening techniques provide vital information over various diseases. Regular blood testing in hospitals and clinics helps to tackle the risk for disorders such as kidney disease, heart disease, anaemia, liver conditions, and diabetes. Moreover, the growing market demand for screening the donated blood due to the rising prevalence of infectious diseases and risk of newer pathogens are some of the factors that majorly drive the segment growth.
 

Increasing usage of mass spectrometry in drug development will boost the market growth

Molecular Diagnostics Market By Technology

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The mass spectrometry market accounted for around USD 120 million in 2019. Growing drug development activities in pharmaceutical industry will drive the market during forecast period. Molecular diagnostics market, based on technology, is categorized into PCR, in situ hybridization, chips and microarrays, mass spectrometry, sequencing, and isothermal amplification.
 

Mass spectrometry is widely used for accurate analysis of molecular makeup of small as well as large molecules in forensic, pharmaceuticals, and clinical research. For instance, in pharmaceutical industry, mass spectrometry is crucial for successful outcome as it provides multidimensional analysis and evaluation of impurities during the drug development process. This is expected to bolster the adoption of mass spectrometry, thereby driving the segmental growth.
 

Rapid adoption of state-of-the-art technology in molecular diagnostics in Asia Pacific will boost the market growth

Asia Pacific molecular diagnostics market held substantial market share in 2019 and will witness around 12% CAGR over the projected timeline. Increasing prevalence of infectious diseases and rising adoption of point-of-care molecular diagnostics in developing and emerging countries of Asia Pacific will drive the market growth.
 

Also, increasing healthcare expenditure to provide better healthcare facilities will augment the market growth in the foreseeable years. Recent years have seen a surge in pharmaceutical and life science research in the Asia-pacific market. Rising awareness and accessibility of advanced molecular diagnostics solutions is expected to further propel the molecular diagnostics industry growth in the region.  
 

Market leaders are focusing on product innovation to strengthen molecular diagnostics portfolio

Some of the key industry players operating in the molecular diagnostics market share are Becton, Dickinson and Company, Abbott Molecular, Biocartis Group NV, Bio-Rad Laboratories, Cepheid, Danaher Corporation, and Johnson & Johnson, among others. These industry participants are capitalizing on market opportunities and implementing various organic and inorganic strategies such as new and innovative product launches, mergers, and partnerships in order to sustain the market competitiveness.
 

Recent industry developments:

  • In September 2017, Becton Dickinson and Company entered into a distribution agreement with Euroclone for distribution of molecular tests. This development helped the company to increase its market penetration. 
  • In 2015, Abbott partnered with the Desmond Tutu HIV Foundation and Organization of African First Ladies Against HIV/AIDS (OAFLA) to make HIV testing and treatment options readily available in resource-limited regions in Africa. This development led the company to increase its product adoption in the market.
     

Molecular diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

By Application

  • Infectious Disease
    • Flu
    • RSV virus
    • Tuberculosis
    • Meningitis
    • HIV market
    • Hepatitis C
    • Hepatitis B
    • HPV
    • STDs
      • Chlamydia
      • Gonorrhea
      • Others
    • Dengue
    • H. Pylori
    • TORCH
    • Others
  • Blood Screening
  • Genetic Testing
  • Oncology Testing

By Technology

  • PCR
  • In Situ Hybridization
  • Chips and Microarrays
  • Mass Spectrometry
  • Sequencing
  • Isothermal Amplification

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Portugal
    • Denmark
    • Russia
    • Norway
    • Sweden
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Sri Lanka
    • Malaysia
    • Pakistan
    • Philippines
    • South Korea
    • New Zealand
    • Vietnam
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Peru
    • Chile
    • Colombia
  • Middle East & Africa
    • South Africa
    • Nigeria
    • Morocco
    • Egypt
    • Saudi Arabia
    • UAE
    • Jordan
    • Qatar
    • Israel

 

Frequently Asked Questions (FAQ) :

The blood screening application was valued at over USD 2 billion in 2019, says a GMI report
According to this report, the Asia Pacific market is expected to witness around 12% CAGR over the projected timeline.
The mass spectrometry market accounted for around USD 120 million in 2019.
Some of the key industry players operating in the market are Becton, Dickinson and Company, Abbott Molecular, Biocartis Group NV, Bio-Rad Laboratories, Cepheid, Danaher Corporation, and Johnson & Johnson, among others.

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Premium Report Details

  • Published Date: Feb 2020
  • Pages: 180
  • Tables: 220
  • Charts / Figures: 7
  • Companies covered: 24
  • Countries covered: 39

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