Global Molecular Diagnostic Market Analysis and Forecast 2019-2028
$2,800.00 – $5,440.00
Growing demand for personalized medicine coupled with technological advancement is expected to further drive the demand for molecular diagnostics
The global molecular diagnostics market is a rapidly growing market driven by the increasing demand for early disease diagnosis, personalized medicine, and precision medicine. As per RationalStat, the global molecular diagnostics market size was valued at US$ 9.2 billion in 2020 and is expected to grow at a CAGR of 12.1% during the period 2022 to 2028.
The market is driven by several factors, including the increasing prevalence of infectious diseases, cancer, and genetic disorders, the rising demand for point-of-care testing, the increasing adoption of automated platforms, and the development of advanced molecular diagnostic technologies. Furthermore, the COVID-19 pandemic has accelerated the growth of the molecular diagnostics market, with a significant increase in demand for COVID-19 testing and the development of new molecular diagnostic assays for the detection of the virus. Moreover, growing demand for personalized medicine coupled with technological advancement are also expected to further drive the demand for molecular diagnostics across the globe.
The polymerase chain reaction is the furthermost widely used technology
Polymerase Chain Reaction (PCR) is the furthermost widely used technology in molecular diagnostics, accounting for the majority of the market share. PCR is used for amplifying DNA sequences and detecting genetic mutations, making it useful in disease diagnosis, genetic testing, and drug development. The market for PCR is driven by the increasing prevalence of infectious diseases, cancer, and genetic disorders, as well as technological advancements, such as real-time PCR and digital PCR.
However, Nucleic acid sequencing is a rapidly growing technology in molecular diagnostics, used for identifying genetic variations, mutations, and biomarkers. The market for nucleic acid sequencing is driven by the increasing demand for personalized medicine, the rising prevalence of cancer and genetic disorders, and technological advancements, such as next-generation sequencing (NGS) and single-cell sequencing.
High prevalence of chronic diseases leads North America to dominate the global market
North America is anticipated to dominate the global molecular diagnostics market owing to the high prevalence of chronic diseases, such as cancer and cardiovascular diseases, and the presence of key market players in the region. Moreover, the molecular diagnostic market has significant potential in the areas of Europe and Asia-Pacific. This is mostly caused by an increase in the number of zoonotic and infectious diseases as well as cancer cases in the area. According to the Australian Federation of AIDS Organizations (AFAO) 2019 data, there were roughly 29,045 persons with HIV in Australia in the year 2019.
India was the second-worst-hit country, followed by the UK and Russia in fourth and fifth place, and among the top five nations that were ravaged by the COVID-19 pandemic due to high cases, three were from the APAC and Europe region. The demand for the molecular diagnosis will therefore increase as the burden of infectious diseases in the regions rises.
Market Structure and Competitive Landscape
The global Molecular Diagnostic market is fragmented in nature with the presence of various players in the market. Some of the prominent players operating in the global Molecular Diagnostic market include BioMérieux SA, Bio-Rad Laboratories, Abbott, Agilent Technologies, Inc., Danahe, Hologic Inc, Illumina, Inc., Johnson & Johnson Services, Inc, Grifols, S.A., F. Hoffmann-La Roche, Ltd, Siemens Healthineers AG, Sysmex Corporation, Becton Dickinson and Co., Danaher Corp., and Luminex Corp among others. These players adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the global Molecular Diagnostic market.
Key Market Segmentation
RationalStat has segmented the global Molecular Diagnostic market on the basis of product/services, test type, technology, application, end user, and region.
- By Product / Services
- Reagents & Kits
- Instruments
- Services and Software
- By Test Type
- Lab Test
- Point of Care (PoC) Test
- By Technology
- Polymerase Chain Reaction (PCR)
- In Situ Hybridization (ISH)
- Transcription Mediated Amplification
- Sequencing
- Isothermal Nucleic Acid Amplification Technology
- Chips and Microarrays
- Others (Mass Spectrometry, etc.)
- By Application
- Infectious Diseases
- Flu
- RSV Virus
- Tuberculosis
- Meningitis
- HIV Market
- Hepatitis C/B
- Dengue
- Others (H.Pylori, etc.)
- Cardiology
- Autoimmune Diseases
- Diabetes
- Genetic Testing
- Oncology Testing
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Prostate Cancer
- Other Cancers
- Nephrology
- Other (Drug Testing, etc.)
- Infectious Diseases
- By End User
- Hospitals
- Diagnostic labs
- Others (ASCs etc.)
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for Molecular Diagnostic providers, healthcare industry, government organizations, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global molecular diagnostic market is expected to grow at a CAGR of over 12% during the forecast period 2022-2028.
North America is dominating the global molecular diagnostic market in 2022.
Rising prevalence of chronic diseases is the key driver of the global molecular diagnostic market.
Major companies operating in the global molecular diagnostic market include BioMérieux SA, Bio-Rad Laboratories, Abbott, Agilent Technologies, Inc., Danahe, Hologic Inc, Illumina, Inc., Johnson & Johnson Services, Inc, Grifols, S.A., F. Hoffmann-La Roche, Ltd, etc.
| REGION | Global |
|---|---|
| RELEASE YEAR | 2023 |
| RESEARCH CODE | RST-SAR-130 |
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
5.1. Impact on Growth Strategies
5.2. Impact on Operations and Supply Chain
5.3. Impact on R&D Spendings
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1. Raw Material Suppliers
6.3.2.Diagnostics Equipment Manufacturers & Suppliers
6.3.3.Physicians
6.3.4.Hospitals and Medical Center
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Deal Trends in Molecular Diagnostics
7.1. Acquisition Activity
7.2. Financing Activity
8. Government Laws and Industry Regulations
9. Global and Regional Market Dynamics
9.1. Drivers
9.2. Restraints
9.3. Trends
9.4. Opportunities
10. Global Molecular Diagnostic Market: Technology Assessment
Robust assessment of key technologies incorporated in various types of Molecular Diagnostic services that are commercialized in the marketplace
11. Molecular Diagnostics Equipment Production
12. Investment Analysis
12.1. M&A Activities
12.2. Key Investment by Major Players in the Market
Robust assessment of major investments made by various industry players along with key application areas, technological assessment, and key applications
13. Market Spending and Use Case Analysis
13.1. By Leading Players
13.2. By Leading Hospitals / Institutions
13.3. By Region
14. Parent Market Overview
14.1. Global Healthcare Market Overview
14.2. Global Medical Devices Market Analysis and Forecast
15. Segmental Analysis
15.1. Global Molecular Diagnostic Market by Product / Service in terms of Value (US$ Million) and Volume (000’ units)
15.1.1. Reagents & Kits
15.1.2. Instruments
15.1.3. Services and Software
15.2. Global Molecular Diagnostic Market by Test Type in terms of Value (US$ Million)
15.2.1. Lab Test
15.2.2. Point of Care (PoC) Test
15.3. Global Molecular Diagnostic Market by Technology in terms of Value (US$ Million)
15.3.1. Polymerase Chain Reaction (PCR)
15.3.2. In Situ Hybridization (ISH)
15.3.3. Transcription Mediated Amplification
15.3.4. Sequencing
15.3.5. Isothermal Nucleic Acid Amplification Technology
15.3.6. Chips and Microarrays
15.3.7. Others (Mass Spectrometry, etc.)
15.4. Global Molecular Diagnostic Market by Application in terms of Value (US$ Million)
15.4.1. Infectious Diseases
15.4.1.1. Flu
15.4.1.2. RSV Virus
15.4.1.3. Tubnerculosis
15.4.1.4. Meningitis
15.4.1.5. HIV Market
15.4.1.6. Hepatitis C/B
15.4.1.7. Dengue
15.4.1.8. Others (H.Pylori)
15.4.2. Cardiology
15.4.3. Autoimmune Diseases
15.4.4. Diabetes
15.4.5. Genetic Testing
15.4.6. Oncology Testing
15.4.6.1. Breast Cancer
15.4.6.2. Colorectal Cancer
15.4.6.3. Lung Cancer
15.4.6.4. Prostate Cancer
15.4.6.5. Other Cancers
15.4.7. Nephrology
15.4.8. Other (Drug Testing, etc.)
15.5. Global Molecular Diagnostic Market by Region in terms of Value (US$ Million)
15.5.1. North America
15.5.2. Latin America
15.5.3. Western Europe
15.5.4. Eastern Europe
15.5.5. Asia Pacific
15.5.6. Middle East & Africa
16. Regional Analysis
16.1. North America Molecular Diagnostic Market Analysis and Forecast 2019-2028
16.1.1. Regional Market Overview and Key Takeaways
16.1.2. North America Molecular Diagnostic Market by Product / Service
16.1.3. North America Molecular Diagnostic Market by Test Type
16.1.4. North America Molecular Diagnostic Market by Technology
16.1.5. North America Molecular Diagnostic Market by Application
16.1.6. North America Molecular Diagnostic Market by Country
16.1.6.1. US
16.2. Asia Pacific Molecular Diagnostic Market Analysis and Forecast 2019-2028
16.2.1. Regional Market Overview and Key Takeaways
16.2.2. Asia Pacific Molecular Diagnostic Market by Product / Service
16.2.3. Asia Pacific Molecular Diagnostic Market by Test Type
16.2.4. Asia Pacific Molecular Diagnostic Market by Technology
16.2.5. Asia Pacific Molecular Diagnostic Market by Application
16.2.6. Asia Pacific Molecular Diagnostic Market by Country
16.2.6.1. China
16.2.6.2. Japan
16.2.6.3. India
16.2.6.4. South Korea
16.2.6.5. Australia
16.2.6.6. ASEAN
16.2.6.7. Rest of Asia-Pacific
16.3. Western Europe Molecular Diagnostic Market Analysis and Forecast 2019-2028
16.3.1. Regional Market Overview and Key Takeaways
16.3.2. Western Europe Molecular Diagnostic Market by Product / Service
16.3.3. Western Europe Molecular Diagnostic Market by Test Type
16.3.4. Western Europe Molecular Diagnostic Market by Technology
16.3.5. Western Europe Molecular Diagnostic Market by Application
16.3.6. Western Europe Molecular Diagnostic Market by Country
16.3.6.1. Germany
16.3.6.2. UK
16.3.6.3. France
16.3.6.4. Spain
16.3.6.5. Italy
16.3.6.6. Benelux
16.3.6.7. Nordic
16.3.6.8. Rest of Western Europe
16.4. Eastern Europe Molecular Diagnostic Market Analysis and Forecast 2019-2028
16.4.1. Regional Market Overview and Key Takeaways
16.4.2. Eastern Europe Molecular Diagnostic Market by Product / Service
16.4.3. Eastern Europe Molecular Diagnostic Market by Test Type
16.4.4. Eastern Europe Molecular Diagnostic Market by Technology
16.4.5. Eastern Europe Molecular Diagnostic Market by Application
16.4.6. Eastern Europe Molecular Diagnostic Market by Country
16.4.6.1. Russia
16.4.6.2. Poland
16.4.6.3. Rest of Eastern Europe
16.5. Latin America Molecular Diagnostic Market Analysis and Forecast 2019-2028
16.5.1. Regional Market Overview and Key Takeaways
16.5.2. Latin America Molecular Diagnostic Market by Product / Service
16.5.3. Latin America Molecular Diagnostic Market by Test Type
16.5.4. Latin America Molecular Diagnostic Market by Technology
16.5.5. Latin America Molecular Diagnostic Market by Application
16.5.6. Latin America Molecular Diagnostic Market by Country
16.5.6.1. Brazil
16.5.6.2. Mexico
16.5.6.3. Rest of Latin America
16.6. Middle East & Africa Molecular Diagnostic Market Analysis and Forecast 2019-2028
16.6.1. Regional Market Overview and Key Takeaways
16.6.2. Middle East & Africa Molecular Diagnostic Market by Product / Service
16.6.3. Middle East & Africa Molecular Diagnostic Market by Test Type
16.6.4. Middle East & Africa Molecular Diagnostic Market by Technology
16.6.5. Middle East & Africa Molecular Diagnostic Market by Application
16.6.6. Middle East & Africa Molecular Diagnostic Market by Country
16.6.6.1. GCC
16.6.6.2. South Africa
16.6.6.3. Turkey
16.6.6.4. Rest of the Middle East & Africa
17. Competitive Landscape
17.1. Competition Dashboard
17.1.1. Global and Regional Market Share Analysis
17.1.2. Market Structure
17.2. Competitive Benchmarking
17.3. Key Strategy Analysis
17.4. Company Profiles
17.4.1. bioMérieux SA
17.4.1.1. Company Overview
17.4.1.2. Product/Service Offerings
17.4.1.3. Financials
17.4.1.4. Recent Developments
17.4.2. Bio-Rad Laboratories
17.4.2.1. Company Overview
17.4.2.2. Product/Service Offerings
17.4.2.3. Key Financials
17.4.2.4. Recent Developments
17.4.3. Abbott
17.4.3.1. Company Overview
17.4.3.2. Product/Service Offerings
17.4.3.3. Key Financials
17.4.3.4. Recent Developments
17.4.4. Agilent Technologies, Inc.
17.4.4.1. Company Overview
17.4.4.2. Product/Service Offerings
17.4.4.3. Financials
17.4.4.4. Recent Developments
17.4.5. Danahe
17.4.5.1. Company Overview
17.4.5.2. Product/Service Offerings
17.4.5.3. Financials
17.4.5.4. Recent Developments
17.4.6. Hologic Inc
17.4.6.1. Company Overview
17.4.6.2. Product/Service Offerings
17.4.6.3. Financials
17.4.6.4. Recent Developments
17.4.7. Illumina, Inc.
17.4.7.1. Company Overview
17.4.7.2. Product/Service Offerings
17.4.7.3. Financials
17.4.7.4. Recent Developments
17.4.8. Johnson & Johnson Services, Inc
17.4.8.1. Company Overview
17.4.8.2. Product/Service Offerings
17.4.8.3. Financials
17.4.8.4. Recent Developments
17.4.9. Grifols, S.A.
17.4.9.1. Company Overview
17.4.9.2. Product/Service Offerings
17.4.9.3. Financials
17.4.9.4. Recent Developments
17.4.10. Midea
17.4.10.1. Company Overview
17.4.10.2. Product/Service Offerings
17.4.10.3. Financials
17.4.10.4. Recent Developments
17.4.11. F. Hoffmann-La Roche, Ltd
17.4.11.1. Company Overview
17.4.11.2. Product/Service Offerings
17.4.11.3. Financials
17.4.11.4. Recent Developments
17.4.12. Siemens Healthineers AG
17.4.12.1. Company Overview
17.4.12.2. Product/Service Offerings
17.4.12.3. Financials
17.4.12.4. Recent Developments
17.4.13. Sysmex Corporation
17.4.13.1. Company Overview
17.4.13.2. Product/Service Offerings
17.4.13.3. Financials
17.4.13.4. Recent Developments
17.4.14. Becton Dickinson and Co.
17.4.14.1. Company Overview
17.4.14.2. Product/Service Offerings
17.4.14.3. Financials
17.4.14.4. Recent Developments
17.4.15. Danaher Corp.
17.4.15.1. Company Overview
17.4.15.2. Product/Service Offerings
17.4.15.3. Financials
17.4.15.4. Recent Developments
17.4.16. Luminex Corp
17.4.16.1. Company Overview
17.4.16.2. Product/Service Offerings
17.4.16.3. Financials
17.4.16.4. Recent Developments
*This list is not exhaustive, RationalStat will provide a detailed list of more than 50+ Molecular Diagnostic companies that are operating in Global and regional market.
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