Molecular Diagnostics Market Statistics, 2030
The global molecular diagnostics market size was valued at $9.2 billion in 2020, and is projected to reach $23.9 billion by 2030, growing at a CAGR of 9.86% from 2021 to 2030. Increase in the prevalence of infectious diseases and various types of cancer drives the growth of the molecular diagnostics market. In addition, increase in awareness and acceptance of personalized medicines, and growth in the biomarker identification further fuel the growth of the market.
Molecular diagnostics is referred to as the detection of genomic variants, aiming to facilitate detection, diagnosis, sub classification, prognosis, and monitoring response to therapy. It is a collection of techniques used to analyze biological markers in the genome and proteome, and how their cells express their genes as proteins, applying molecular biology to medical testing. Molecular diagnostics are widely applied, powerful, and sensitive techniques used to identify biologic markers in a genome and proteome by detecting bacterial genes (with PCR-based techniques) and measuring expressed bacterial infection–specific proteins (with enzyme-linked immunosorbent assay [ELISA] and proteomics).
Stringent regulatory requirements for the approval of new molecular diagnostics techniques are expected to hinder growth of the market during the forecast period. On the other hand, increase in adoption of the molecular diagnostics in the emerging economies is expected to offer profitable opportunities for the growth of the market during the forecast period.
The COVID-19 pandemic has disrupted workflows in the healthcare sector globally. The COVID-19 outbreak is anticipated to have a positive impact on the growth of the global molecular diagnostics market. The COVID-19 pandemic has stressed the healthcare systems globally and increased the need for the development of diagnostic instruments & diagnostic service centers. Increase in number of COVID-19 cases surged the demand for real time polymerase chain reaction (RT-PCR) test to detect COVID-19. For instance, in 2020, the U.S. Food and Drug Administration authorized an antigen test that is the first over-the-counter fully at-home diagnostic test used for detection of COVID-19. Moreover, in 2020, a total of 646 government laboratories and 247 private laboratories reported to Indian Council of Medical Research (ICMR) for COVID-19 testing.
Furthermore, in 2020, the World Health Organization, the Africa Centers for Disease Control and Prevention, the foundation for innovative new diagnostics, the global fund, and the Bill & Melinda Gates foundation announced partnership to provide 120 million affordable quality COVID-19 rapid tests for low and middle income countries. This has significantly contributed toward the growth of the global molecular diagnostics market. Furthermore, increase in adoption of immunoassays and molecular assays diagnostics tests for COVID-19 along with major market player ramping up their R&D activities to curb the COVID-19 pandemic are expected to positively impact the molecular diagnostics market growth.
Molecular Diagnostics Market Segments Overview
The molecular diagnostics industry is segmented on the basis of product type, technology, application, end user, and region to provide a detailed assessment of the market. By product type, it is bifurcated into instruments, reagents, and software and services. By technology, it is segmented into polymerase chain reaction (PCR), DNA Sequencing, hybridization, microarray, isothermal nucleic acid amplification technology (INAAT), and other techniques, which include electrophoresis, mass spectroscopy, and flow cytometry. By application, it is divided into infectious diseases, oncology, genetic tests, blood screening, and others include microbiology, cardiovascular diseases, and neurological diseases. On the basis of end user, it is segmented into, hospitals, reference laboratories, and others include blood banks, home health agencies, and nursing homes. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Product Segment
By product type, the market is segmented into instruments, reagents, and software and services. The reagents segment dominated the global market in 2020, and is expected to remain dominant during the forecast period, owing to advancement in R&D activities in pharmaceutical & biotechnology industry, increase in demand for reagents, and surge in adoption of point-of-care testing.
Technology Segment
By technology, the market is segregated into polymerase chain reaction (PCR), DNA Sequencing, hybridization, microarray, isothermal nucleic acid amplification technology (INAAT), and other techniques, which include electrophoresis, mass spectroscopy, and flow cytometry. The polymerase chain reaction segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to increase in application of PCR technology to detect the COVID-19 disease coupled with the rise in launch of molecular diagnostics instruments.
Application Segment
By application, the market is classified into infectious diseases, oncology, genetic tests, blood screening, and others include microbiology, cardiovascular diseases, and neurological diseases. The infectious diseases held the largest market share in 2020, and is expected to remain dominant throughout the forecast period, owing to increase in prevalence of infectious diseases such as SARS-COV-19.
End User Segment
By end user, the market is classified into hospitals, reference laboratories, and others include blood banks, home health agencies, and nursing homes. The hospitals segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to increase in the number of patients treated for different infectious diseases, cancer, and others requiring molecular analysis for diagnosis purpose and for quick start of the treatment.
Molecular Diagnostics Market in Asia-Pacific
Asia-Pacific offers profitable in molecular diagnostics market opportunity for key players operating in the molecular diagnostics market, thereby registering the fastest growth rate during the forecast period, owing to the growing healthcare infrastructure, rise in disposable incomes, and well-established presence of domestic companies in the region. In addition, higher adoption and increase in use of molecular diagnostics, rapidly growing geriatric population, and rise in incidence of infectious diseases further fuel growth of the market in the region. Moreover, rise in personalized medicine expenditure and a significant increase in the number of well-equipped hospitals with advanced healthcare systems in the region to cater to the needs of the large patient population, drive the growth of the market.
The key market players profiled in the report include F. Hoffmann-La Roche AG, BioMérieux SA, Abbott Laboratories, Becton, Dickinson and Company, Qiagen N.V., Hologic Corporation, Danaher Corporation, S.A., Agilent Inc., Siemens Healthcare GmbH, and Grifols.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the molecular diagnostics market analysis from 2020 to 2030 to identify the prevailing molecular diagnostics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the molecular diagnostics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global molecular diagnostics market trends, key players, market segments, application areas, and market growth strategies.
Molecular Diagnostics Market Report Highlights
| Aspects | Details |
 By Technology |
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 By Application |
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 By Type |
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 By End User |
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 By Region |
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 Key Market Players | GRIFOLS S.A, Agilent Technologies Inc., ABBOTT LABORATORIES, DANAHER CORPORATION, HOLOGIC INC., BECTON DICKINSON AND COMPANY, F. HOFFMON LA-ROCHE LTD, BIOMÉRIEUX SA, QIAGEN INC, SIEMENS AG (SIEMENS HEALTHINEERS) |
Analyst Review
Growth of the molecular diagnostic market is attributed to factors, such as technological advancements in the healthcare sector, rise in prevalence of infectious diseases, such as hepatitis, pneumonia, influenza, HIV, and COVID-19, increase in funds from private and government organizations for development of various diagnostic service centers, and rise in awareness about early diagnosis. In addition, increase in awareness and acceptance of personalized medicines and growth in the biomarker identification, further supplement the global molecular diagnostics market growth.
North America is expected to witness the highest growth, in terms of revenue, owing to rise in prevalence of infectious diseases, increase in number of diagnostic tests, and technological advancement of diagnostic instruments in the region.
Asia-Pacific offers profitable opportunities for key players operating in the molecular diagnostics market, thereby registering the fastest growth rate during the forecast period, owing to increase in prevalence of infectious diseases, rise in government initiative for development of advanced diagnostic service, surge in demand for RT-PCR test, and increase in awareness among people for early diagnostic testing.
However, stringent regulatory requirements for the approval of new molecular diagnostics techniques are anticipated to restrain the market growth during the forecast period.
The total market value of molecular diagnostics market is $9,160.61 million in 2020.
The forcast period for molecular diagnostics market is 2021 to 2030
The market value of molecular diagnostics market in 2030 is $23905.56 million.
The base year is 2020 in molecular diagnostics market.
Top companies such as F. Hoffmann-La Roche AG, BioMérieux SA, Abbott Laboratories, Becton, Dickinson and Company, Qiagen N.V., Danaher Corporation, S.A. held a high market position in 2020.
The reagent segment is the most influencing segmentowing to advancement in R&D activities in pharmaceutical & biotechnology industry, increase in demand for reagents, and surge in adoption of point-of-care testing.
Increase in the prevalence of the infectious diseases and various types of cancer, drives the growth of the molecular diagnostics market. In addition, increase in awareness and acceptance of personalized medicines, and growth in the biomarker identification further fuel the growth of the market
Asia-Pacific is expected to experience the growth rate of 10.78% during the forecast period,owing to the growing healthcare infrastructure, rising disposable incomes, and well-established presence of domestic companies in the region.
Molecular diagnostics is referred to as the detection of genomic variants, aiming to facilitate detection, diagnosis, subclassification, prognosis, and monitoring response to therapy.
Molecular diagnostics used to analyze biological markers in the genome and proteome, and how their cells express their genes as proteins, applying molecular biology to medical testing.
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