Molecular Diagnostics Market (Technology: PCR & Real-time PCR, Hybridization, Microarray, Transcription-mediated Amplification, Next Generation Sequencing, and Others; Application: Infectious Diseases [Virology and Bacteriology], Oncology, Blood Screening, Microbiology, Genetic Testing, and Women’s Health; and End-user: Hospitals, Diagnostics Laboratories, Blood Banks, Academics & Research, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2030

The global Molecular Diagnostics market gathered revenue around USD 25.2 billion in 2022 and market is set to grow USD 47.9 billion by the end of 2030 and is estimated to expand at a modest CAGR of 14.1% during the prediction period 2022 to 2030.

Growth Factors:

Molecular diagnostics primarily refers to the class of diagnostic tests that identifies nucleic acids or proteins at the molecular level. Molecular diagnostics has emerged as one of the fastest growing segments in the in vitro diagnostics industry. The molecular diagnostics market has expanded rapidly since the 1990s with the introduction of PCR test for HIV and chlamydia trachomatis & neisseria gonorrhea (CT/NG). Since then, within a span of 20 years, the market has witnessed significant growth. Currently, molecular diagnostic kits are being widely adopted for testing genetic diseases, cancer, hepatitis viruses, and hospital acquired infections. Moreover, molecular diagnostic kits are used extensively for blood donor screening test for hepatitis and HIV.

North America was the largest market for molecular diagnostics in 2021. The region dominated the global market due to substantial investments in the field, strong economic growth, and increase in incidence of target chronic diseases, and technological progress. Moreover, technological advancements, increase in access to health care services, and entry of new manufacturers are the other factors likely to fuel the growth of the market in North America during the forecast period.

Asia Pacific is projected to be a highly lucrative market for molecular diagnostics during the forecast period. The market in the region is anticipated to expand at a high CAGR during the forecast period. The high per capita income has increased the consumption of diagnostic and therapy products in the region. Rapid expansion of the market in the region can be attributed to government initiatives undertaken to improve the health care infrastructure. The market in Asia Pacific is likely to expand rapidly compared to other regions due to shift in base of pharmaceutical companies and clinical research industries from developed to developing regions such as China and India.

Report Scope of the Molecular Diagnostics Market

Report Coverage

Details

Market Size

US$ 47.9 Billion by 2030

Growth Rate

CAGR of 14.1% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

Technology, Application, End-user and Region,

Companies Mentioned

 Abbot Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., bioMérieux SA, Danaher Corporation, F. Hoffmann-La Roche Ltd., QIAGEN N.V., Siemens AG, and Thermo Fisher Scientific, Inc..

Rise in Demand for Innovative Technologies to Drive Market

New innovative technologies such as RT-PCR and sequencing are available in the market and provide a comparatively less-expensive way for diagnosis, prognosis, and therapy selection in patients throughout their treatment plan. This helps physicians to frame appropriate therapeutic regimes for patients suffering from various diseases. Increase in demand for point-of-care services is projected to drive the molecular diagnostics market. Point-of-care provides quick and accurate results compared to traditional methods.

PCR & Real-time PCR Segment to Dominate Global Market

In terms of product type, the global molecular diagnostics market has been classified into PCR & real-time PCR, hybridization, microarray, transcription-mediated amplification, next-generation sequencing, and others. The PCR & real-time PCR segment accounted for leading share of the global market in 2020. The segment is likely to witness strong growth during the forecast period, as PCR technique is a cost-effective way of copying or amplification of small segments of DNA or RNA.

Infectious Diseases to be Highly Lucrative Segment

Based on application, the global molecular diagnostics market has been categorized into infectious diseases, oncology, blood screening, microbiology, genetic testing, and women’s health. The infectious diseases segment accounted for major share of the global market in 2020 due to increase in incidence of chronic infectious diseases. Moreover, rise in infections due to environmental pollution and unhealthy lifestyles among the global population contributed to the growth of the infectious diseases market.

Diagnostic Laboratories Segment to Dominate Market

In terms of end-user, the global molecular diagnostics market has been divided into hospitals, diagnostic laboratories, blood banks, academics & research, and others. The diagnostic laboratories segment dominated the global molecular diagnostics market in 2020, as diagnostic laboratories are specially meant only for detection of diseases. These are well equipped with sophisticated instruments and people in developed countries prefer diagnostic labs for diagnosis. However, the hospitals segment is projected to expand at a high CAGR during the forecast period due to increase in number of molecular diagnostic procedures carried out in these settings

North America to Dominate Global Market

In terms of region, the global molecular diagnostics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global molecular diagnostics market in 2021, followed by Europe. The region's dominance can be attributed to increase in diagnostic facilities and focus of existing & new players on the region.

North America is the leading market for molecular diagnostics due to rise in investments by governments in support of molecular diagnostic tests. The surge in incidence of cancer and unhealthy lifestyle leading to severe infectious diseases fuels the growth of the molecular diagnostics market in the region. Other factors such as large geriatric population and rise in demand for personalized medicines are expected to augment the market in North America.

Emerging markets in Asia Pacific hold immense growth potential due to initiatives taken by the governments to promote health care and robust economic growth. Moreover, improving purchasing power, consumer awareness about health issues, and better disease management are expected to boost the growth of the molecular diagnostics market in Asia Pacific.

Molecular Diagnostics Market: Key Developments

  • Key players in the global molecular diagnostics market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global molecular diagnostics market in the next few years.
  • A few expansion strategies adopted by players operating in the global molecular diagnostics market are:
    • In December 2021, Becton, Dickinson and Company (BD) announced expansion of its BD COR system to include MX instruments for high-throughput molecular testing of infectious diseases
    • In March 2021, Roche announced an agreement to acquire GenMark Diagnostics. This acquisition has been carried out so that GenMark can provide molecular diagnostic tests, which are designed for the detection of various pathogens with a single patient sample.
  • The report on the global molecular diagnostics market discusses individual strategies, followed by company profiles of manufacturers of stem cell products. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global molecular diagnostics market.

Some of the prominent players in the Molecular Diagnostics Market include:

  • Abbot Laboratories
  • Becton
  • Dickinson and Company
  • Bio-Rad Laboratories, Inc.
  • bioMérieux SA
  • Danaher Corporation
  • F. Hoffmann-La Roche Ltd.
  • QIAGEN N.V.
  • Siemens AG
  • Thermo Fisher Scientific, Inc., among others

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Global Molecular Diagnostics Market: Segmentation

Molecular Diagnostics Market, by Technology

  • PCR & Real-time PCR
  • Hybridization
  • Microarray
  • Transcription-mediated Amplification
  • Next-Generation Sequencing
  • Others

Molecular Diagnostics Market, by Application

  • Infectious Diseases
  • Oncology
  • Blood Screening
  • Microbiology
  • Genetic Testing
  • Women's Health

Molecular Diagnostics Market, by End-user

  • Hospitals
  • Diagnostic Laboratories
  • Blood Banks
  • Academics & Research
  • Others

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in Molecular Diagnostics Market Study:

  • Growth of Molecular Diagnostics in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Molecular Diagnostics and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Molecular Diagnostics Consumption Analysis
  •  Molecular Diagnostics Production Analysis
  •  Molecular Diagnostics and Management