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 exceeded USD 8.3 billion in 2019 and is anticipated to grow at over 9% CAGR from 2020 to 2026. 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. The market demand for molecular diagnostics procedures will increase substantially in the foreseeable future, due to continuous innovations.
 

Molecular Diagnostics Market Overview

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Increasing geriatric population will offer lucrative growth opportunity for the market

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. Developed as well as developing countries are facing age-related chronic disease burden that will foster the market expansion 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.
 

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

The blood screening segment in the molecular diagnostics market was valued at USD 2 billion in 2019. The industry is working constantly to improve the clinical outcomes of blood screening molecular diagnostics, thereby propelling the segment expansion.
 

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 industry demand for screening the donated blood owing to the rising prevalence of infectious diseases and risk of newer pathogens are some of the factors that majorly spur the segment progression.
 

Growing usage of mass spectrometry in drug development will boost the market revenue

Molecular Diagnostics Market Size

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The mass spectrometry segment accounted for around USD 120 million in 2019 led by the rising drug development activities in pharmaceutical industry. Mass spectrometry is widely used for accurate analysis of molecular makeup of small as well as large molecules in forensic, pharmaceuticals, and clinical research.
 

Rapid adoption of state-of-the-art technology in molecular diagnostics in APAC region will accelerate the market value

Global Molecular Diagnostics Market

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Asia Pacific molecular diagnostics market will witness around 12% growth rate through 2026. Increasing prevalence of infectious diseases and rising usage of point-of-care molecular diagnostics in developing and emerging countries of APAC will stimulate the industry expansion.
 

Also, increasing healthcare expenditure to provide better healthcare facilities will impel the industry progression in the coming years. Recent years have seen a surge in pharmaceutical and life science research in the APAC market. Rising awareness and accessibility of advanced molecular diagnostics solutions is expected to further influence the regional growth.  
 

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

Some of the key 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. These 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 industry 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 acceptance 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:

Market, 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

Market, 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 market size of molecular diagnostics exceeded USD 8.3 billion in 2019.
The industry share of molecular diagnostics is projected to expand at 9% CAGR during 2020 to 2026.
The blood screening application was valued at over USD 2 billion in 2019.
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 participants 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.

Premium Report Details

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

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