About Molecular Diagnostics
Molecular Diagnostics is a laboratory tests that is used to identify a disease or the predisposition to a disease, this is done by analysing DNA, RNA or their proteins in humans or in the case of infections in microbes. It includes the clinical testing instruments that are used in hospitals, clinics, commercial laboratories, reference laboratories and research institutes to detect cells and proteins for the purpose of diagnosis and monitoring disease. Molecular Diagnostics contribute to the identification and fine description of the genetic basis of inherited diseases which is vital for the accurate provision of diagnosis.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 2.8% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through new development, expansions and acquisitions across the globe to avail competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Molecular Diagnostics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Laboratories (United States), Agilent Technologies (United States), BioMérieux (France), DiaSorin (Italy), Becton Dickinson and Company (United States), Grifols (Spain), Hologic (United States), Qiagen (Germany), Roche Diagnostics (Switzerland), Siemens AG (Germany) and Bio-Rad Laboratories, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Thermo Fisher Scientific (United States), Sysmex Corporation (Japan), F. Hoffmann-la Roche Ltd (Switzerland) and Myriad Genetics (United States).
Segmentation Overview
AMA Research has segmented the market of Global Molecular Diagnostics market by Type (Instruments, Reagents and Software & Services), Application (Infectious Diseases [HIV, HPV, Tuberculosis and Other Infectious Diseases], Oncology [Breast Cancer, Lung Cancer, Colorectal Cancer and Other Cancers], Genetic Tests, Microbiology and Others [Blood Screening, Neurological Disease and Cardiovascular Disease]) and Region.
On the basis of geography, the market of Molecular Diagnostics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Technology, the sub-segment i.e. Polymerase Chain Reactions (PCR) will boost the Molecular Diagnostics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Incidence of Infectious Diseases and Increasing prevalence of infectious diseases and cancer
Market Growth Drivers:
Increasing Demand for Point of Care Diagnostics and Growing Acceptance of Personalized Medicine by Individuals
Challenges:
Lack of Skilled Professionals in Developing Economies and Limited Budgets for R&D
Restraints:
High Cost of Molecular Diagnostics and Need for High-Complexity Testing Centers
Opportunities:
Technological Advancements in Molecular Diagnostics, Increasing Infrastructure Development in Emerging Economies and Growth opportunities in emerging countries
Market Leaders and their expansionary development strategies
March 2, 2021 Royal Philips, a global leader in health technology, and Hologic, Inc., an innovative women’s health company, announced today a global partnership agreement to offer care professionals integrated solutions comprising diagnostic imaging modalities, advanced informatics and services for screening, diagnosis and treatment of women across the world.
March 19, 2022 Abbott announced CE Mark for its Alinity m diagnostics system and assays. This new technology will help keep up with the growing demand for infectious disease testing. Alinity m will provide unprecedented flexibility in molecular diagnostic testing, allowing more tests to be done in shorter timeframes while reducing the space and number of instruments needed to conduct large amounts of tests.
Key Target Audience
Suppliers of Molecular Diagnostics, Wholesalers, Distributers and Retailers of Molecular Diagnostics, Healthcare Industry, Academic Laboratories and Research Center and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.