USD 22.15 billion
Global Molecular Diagnostics Market Size, Share, Growth Analysis, By Type(Lab tests and PoC tests), By Application(Infectious disease diagnostics, oncology testing) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2636 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Global Molecular Diagnostics Market Insights
Molecular Diagnostics Market size was valued at USD 22.15 billion in 2021 and is poised to grow from USD 23.3 billion in 2022 to USD 34.95 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).
The global molecular diagnostics market is a rapidly growing and evolving sector that encompasses a wide range of technologies, techniques, and applications aimed at detecting, analyzing, and monitoring diseases at the molecular level. It involves the use of nucleic acid-based tests, such as polymerase chain reaction (PCR), next-generation sequencing (NGS), and microarrays, to identify genetic variations, mutations, and biomarkers associated with various diseases, including infectious diseases, cancer, genetic disorders, and others. The market is driven by several factors, including the increasing prevalence of chronic and infectious diseases, growing demand for personalized medicine, advancements in genomics and proteomics research, and the need for efficient and accurate diagnostic tools. The emergence of targeted therapies and the shift towards precision medicine have further fueled the demand for molecular diagnostics, as these tests provide crucial information for treatment selection and monitoring. Moreover, the ongoing technological advancements in sequencing technologies, automation, and data analysis platforms are enhancing the sensitivity, speed, and cost-effectiveness of molecular diagnostic tests, thus widening their applications and adoption across healthcare settings. The market is characterized by intense competition, with numerous players ranging from global diagnostics companies to small-scale startups, contributing to a diverse and innovative landscape. Additionally, collaborations between diagnostic companies and pharmaceutical manufacturers are becoming increasingly common to develop companion diagnostics for targeted therapies. Geographically, North America has traditionally been leading regions in terms of market share, owing to their well-established healthcare infrastructure, favorable reimbursement policies, and strong investments in research and development. However, the Asia-Pacific region is witnessing significant growth due to the increasing healthcare expenditure, rising awareness, and expanding access to advanced diagnostic technologies. As molecular diagnostics continues to revolutionize disease detection and management, the market is poised for continued expansion, with opportunities for further technological advancements, product development, and market penetration.
US Molecular Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Lab tests
Fastest Growth
Lab tests
Growth Rate
5.2% CAGR
Global Molecular Diagnostics Market ($ Bn)
Country Share for North America Region (%)
Global Molecular Diagnostics Market By Type ($ Bn)
Global Molecular Diagnostics Market By Type (%)
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Global Molecular Diagnostics Market Segmental Analysis
Global Molecular Diagnostics Market is segmented by type, application, and region. Based on type, the market can be segmented into Lab tests and PoC tests. Based on application, the market is segmented into Infectious disease diagnostics, oncology testing, genetic testing and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Molecular Diagnostics Market Analysis by Type
Lab tests represent the dominant segment in the global molecular diagnostics market. These tests are typically performed in centralized laboratories, equipped with specialized infrastructure and trained personnel, allowing for comprehensive analysis and high throughput. Lab tests offer a wide range of applications and are often utilized for complex and specialized diagnostics, including genetic testing, infectious disease screening, oncology testing, and pharmacogenomics. The dominance of lab tests can be attributed to their established infrastructure, extensive test menu, and ability to handle large sample volumes, making them suitable for routine and high-volume testing requirements in hospitals, reference laboratories, and research institutions.
The fastest-growing segment in the global molecular diagnostics market is point-of-care (PoC) tests. PoC tests offer the advantage of delivering rapid results at or near the patient's location, eliminating the need for sample transportation and reducing turnaround time. These tests are designed to be user-friendly and provide accurate and actionable results, making them highly suitable for decentralized settings such as clinics, emergency departments, and remote or resource-limited areas. PoC tests are witnessing significant growth due to the increasing demand for rapid diagnostics, early detection, and on-site monitoring of infectious diseases, including respiratory infections, sexually transmitted infections, and others.
Molecular Diagnostics Market Analysis by Application
Infectious disease diagnostics is the leading segment in molecular diagnostics. It involves accurately identifying pathogens to effectively manage diseases and implement public health interventions. With the increasing prevalence of infectious diseases globally, the demand for molecular diagnostic tests for rapid and accurate pathogen detection has significantly grown.
Oncology testing is experiencing rapid growth in the field of molecular diagnostics. It focuses on identifying genetic and molecular alterations in cancer to guide treatment decisions, predict treatment response, and monitor disease progression. The rise of precision medicine, which tailors therapies based on the molecular characteristics of tumors, has fueled the demand for molecular diagnostic tests in oncology. This segment is witnessing continuous advancements and innovations, such as companion diagnostics and liquid biopsies, which further contribute to its fast-paced growth.
Global Molecular Diagnostics Market By Type, 2023 (%)
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Global Molecular Diagnostics Market Regional Insights
North America represents the dominant region in the global molecular diagnostics market. This can be attributed to factors such as well-established healthcare infrastructure, strong research and development capabilities, advanced laboratory facilities, and favorable reimbursement policies. The region also has a high adoption rate of advanced diagnostic technologies, including molecular diagnostics, driven by the presence of key market players, increasing prevalence of chronic diseases, and emphasis on personalized medicine.
The Asia Pacific region is experiencing the fastest growth in the global molecular diagnostics market. Factors contributing to this rapid growth include increasing healthcare expenditure, rising awareness about the benefits of early disease detection, improving accessibility to advanced diagnostic technologies, and expanding investments in healthcare infrastructure. Additionally, the region has a large population base, growing prevalence of chronic and infectious diseases, and rising demand for personalized medicine, which further fuels the adoption of molecular diagnostics.
Global Molecular Diagnostics Market By Geography, 2024-2031
- Largest
- Fastest
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Global Molecular Diagnostics Market Dynamics
Molecular Diagnostics Market Drivers
Increasing demand for personalized medicine
- The growing demand for personalized medicine is a key driver of the global molecular diagnostics market. Personalized medicine focuses on tailoring medical treatments and interventions to individual patients based on their genetic makeup, molecular characteristics, and other relevant factors. Molecular diagnostics plays a crucial role in enabling personalized medicine by providing precise and targeted information about a patient's disease, prognosis, and treatment response. The increasing recognition of the benefits of personalized medicine in improving patient outcomes and optimizing healthcare resources has driven the demand for molecular diagnostics, leading to market growth.
Molecular Diagnostics Market Restraints
Stringent regulatory and reimbursement policies
- Stringent regulatory and reimbursement policies act as a key restraint in the global molecular diagnostics market. The development, approval, and commercialization of molecular diagnostic tests require compliance with rigorous regulatory requirements imposed by regulatory authorities such as the FDA (Food and Drug Administration) and other regional regulatory bodies. These regulations ensure the safety, effectiveness, and quality of the tests but can lead to delays and increased costs in the product development process. Additionally, reimbursement policies and coverage for molecular diagnostic tests vary across different regions and healthcare systems, which can pose challenges for market penetration and adoption, especially in cost-sensitive healthcare settings. The complex and evolving regulatory and reimbursement landscape can hinder the growth and widespread implementation of molecular diagnostics.
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Global Molecular Diagnostics Market Competitive Landscape
The competitive landscape of the global molecular diagnostics market is characterized by intense competition and a diverse range of players. The market includes both established diagnostics companies with a strong presence and expertise in molecular diagnostics, as well as emerging players and startups focusing on innovative technologies and solutions. Key factors driving competition include the development of advanced diagnostic technologies, expansion of test portfolios, collaborations with pharmaceutical manufacturers, and geographical market expansion. Market players compete based on factors such as product performance, accuracy, speed, automation capabilities, ease of use, regulatory compliance, and cost-effectiveness. Continuous investments in research and development, strategic partnerships, mergers and acquisitions, and product launches are some of the key strategies employed by market players to gain a competitive edge and enhance their market position.
Molecular Diagnostics Market Top Player’s Company Profiles
- Abbott (US)
- Agilent Technologies, Inc. (US)
- Danaher (US)
- Hologic Inc. (Gen Probe) (US)
- Illumina, Inc. (US)
- Johnson & Johnson Services, Inc. (US)
- Grifols, S.A. (Spain)
- QIAGEN (Germany/Netherlands)
- F. Hoffmann-La Roche, Ltd. (Switzerland)
- Siemens Healthineers AG (Germany)
- Sysmex Corporation (Japan)
- Thermo Fisher Scientific Inc. (US)
- Cepheid (US)
- PerkinElmer, Inc. (US)
- GenMark Diagnostics, Inc. (US)
- Luminex Corporation (US)
- Biocartis Group NV (Belgium)
Molecular Diagnostics Market Recent Developments
- In September 2021, Swiss-based F. Hoffmann-La Roche Ltd. announced its acquisition of TIB Molbiol, a German company, with the aim of expanding its PCR test portfolio to include a broader range of assays for infectious diseases.
- In June 2021, QIAGEN N.V., headquartered in the Netherlands, formed a partnership with Verogen, a U.S.-based company, to enhance its portfolio in next-generation sequencing (NGS) technologies.
- In June 2021, U.S.-based Hologic, Inc. completed the acquisition of Mobidiag Oy, a Finnish company known for its innovation in acute care molecular diagnostic testing. This acquisition will contribute to the expansion of Hologic's molecular diagnostics product portfolio.
- In March 2021, Roche and GenMark Diagnostics agreed to a merger, resulting in Roche's complete acquisition of GenMark. This acquisition allows GenMark's syndromic panel testing portfolio to complement Roche's existing molecular diagnostics portfolio.
- In March 2021, QIAGEN N.V. announced the launch of the QIAcube Connect MDx, a versatile automated sample processing platform. This platform is made available to molecular diagnostic laboratories in the U.S., Canada, and other global markets.
Global Molecular Diagnostics Key Market Trends
- One key market trend in the global molecular diagnostics market is the increasing adoption of next-generation sequencing (NGS) technologies. NGS has revolutionized the field of molecular diagnostics by enabling high-throughput sequencing of DNA and RNA samples, providing a comprehensive view of genetic variants, mutations, and gene expression patterns. This technology offers significant advantages in terms of speed, accuracy, and cost-effectiveness compared to traditional sequencing methods. The expanding applications of NGS in areas such as oncology, inherited diseases, infectious diseases, and pharmacogenomics have driven its adoption in molecular diagnostics. The trend towards NGS-based testing is driven by the need for more precise and personalized diagnostics, improved understanding of disease mechanisms, and the growing availability of NGS platforms and associated bioinformatics tools.
Global Molecular Diagnostics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global molecular diagnostics market analysis, the market is characterized by a dominant focus on infectious disease diagnostics, driven by the increasing prevalence of infectious diseases globally. Lab tests are the dominant segment, offering comprehensive analysis and high throughput. The fastest-growing segment is point-of-care (PoC) tests, which provide rapid results near the patient, enhancing decentralized testing capabilities. In terms of applications, infectious disease diagnostics is the dominant segment, while oncology testing is the fastest-growing segment due to advancements in understanding genetic and molecular alterations in cancer. The market is segmented into regions, with North America leading the market and Asia Pacific experiencing the fastest growth. Key drivers include the growing demand for personalized medicine, while stringent regulatory and reimbursement policies act as a significant restraint. The competitive landscape comprises established companies with expertise in molecular diagnostics, as well as emerging players focusing on innovative technologies. The market trend of increasing adoption of next-generation sequencing (NGS) technologies has revolutionized molecular diagnostics, enabling high-throughput sequencing and offering comprehensive insights into genetic variants and disease mechanisms.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 22.15 billion |
| Market size value in 2031 | USD 34.95 billion |
| Growth Rate | 5.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Molecular Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Molecular Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Molecular Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Molecular Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Molecular Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Molecular Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Molecular Diagnostics Market Report Snapshots
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