Global Molecular Diagnostics Market Report by Technology (Chips and Microarrays, In Situ Hybridization, Sequencing, Mass Spectrometry (MS), PCR, Other Technologies) Application (Pharmacogenomics, Infectious Disease, Genetic Disease Screening, Oncology, Blood Screening, Microbiology, Human Leukocyte Antigen Typing) Product (Instruments, Reagents, Other Products) End Users (Hospitals, Laboratories, Other End Users) Countries and Company Analysis 2024-2032

Global Molecular Diagnostics Market Analysis

Global Molecular Diagnostics Market Definition

Identifying genomic variations is a key component of molecular diagnostics, which helps with prognosis, detection, diagnosis, subclassification, and therapeutic response tracking. It makes use of methods for analyzing biological markers found in the proteome and genome, looking at how genes are expressed as proteins in cells. This area of study uses molecular biology in diagnostic procedures. It is frequently used to identify biological markers in the genome and proteome, including the measurement of expressed proteins unique to bacterial infections using the enzyme-linked immunosorbent test (ELISA) and proteomics, as well as the detection of bacterial genes using PCR-based techniques.

Driving forces for Molecular Diagnostics Market

Growth in illnesses like HIV, HPV, and STIs combined with major industry actors' efforts to increase access to affordable resources - It also emphasizes the significance of molecular tests in illness diagnostics despite their high cost and states that infections are predicted to fuel market expansion for molecular diagnostics. The rising prevalence of infectious diseases like HIV around the world, citing a UNAIDS update from August 2022, indicated that 38.4 million individuals lived with HIV globally in 2021. 36.7 million adults and 1.7 million children are included in this. The rising use of HIV molecular diagnostics is anticipated to fuel the expansion of the molecular die market, which is driven by the high occurrence of infectious diseases.

An increasing number of people are getting older, there is a growing need for genetic testing, and technology developments are all contributing to this expansion - This growth is also attributed to a rise in self-testing diagnostics and patient knowledge of speedier diagnostics. For instance, Huwel Lifesciences created a portable RT-PCR device in February 2023 to test different viruses.

The increasing number of elderly people worldwide and the occurrence of illnesses such as cancer, heart disease, neurological conditions, diabetes, obesity, and infections are propelling the expansion of this market - According to estimates from the World Bank Group, there were 779 million adults over the age of 65 in the world in 2022. Moreover, it is anticipated that by 2050, the number of people 80 years of age and older would have doubled, reaching almost 1.5 billion. The market is anticipated to be significantly impacted by this trend. Furthermore, the market is anticipated to rise as a result of the rising prevalence of infectious disorders.

North America Molecular Diagnostics Market

Because chronic diseases are so common in North America, the region leads the world in molecular diagnostics sales. Traditional diagnostic procedures are being replaced by molecular diagnostics, which are crucial for the early identification, diagnosis, and monitoring of disorders such infectious infections and cancer. The ACS's 'Cancer Facts & Figures 2022' study estimates the number of new cancer cases and cancer-related deaths in the United States in 2023. Additionally, it implies that the region's high cancer incidence rate will likely fuel the market's expansion for oncology molecular diagnostics as a result of the growing use of these tests for cancer detection.

With numerous top biotechnology and diagnostic businesses spearheading the creation and commercialization of state-of-the-art molecular diagnostic technologies, the United States is a center for technological innovation and research in this field. Due to its large healthcare spending, the US is a prime location for the adoption of cutting-edge diagnostic tools like molecular diagnostics.

Molecular Diagnostics Company Overview

The leading market players in the Molecular Diagnostics market are F Hoffmann-la Roche Ltd, Illumina Ltd, Hologic Corporation, Agilent Technologies Inc., Qiagen NV, Myriad Genetics, Abbott Laboratories, Biomerieux SA, Bio-Rad Laboratories Inc., and Sysmex Corporation.

Molecular Diagnostics Company News

In January 2024, Illumina collaborated with Janssen to develop a molecular residual disease liquid biopsy test. The company plans to create a cost-effective whole-genome sequencing multi-cancer test to detect ctDNA

In March 2023, Illumina Inc. and GenoScreen collaborated to offer a package that includes Illumina products and the GenoScreen Deeplex Myc-TB assay, a targeted next-generation sequencing (NGS)- based test for rapid and extensive detection of anti-TB drug resistance.

In March 2023, Oxford Gene Technology launched eight of its CytoCellfluorescence in situ hybridization probes, certified for clinical use by the In Vitro Diagnostics Regulation (IVDR) in Europe.

In August 2023, QIAGEN received the U.S. FDA approval for the Therascreen PDGFRA RGQ PCR kit. This aids physicians in identifying patients with gastrointestinal stromal tumors (GIST).

In January 2023, the U.S. FDA approved EUA for the VIASURE Monkeypox Virus Real-Time PCR Reagents developed by BD and CerTest Biotec to detect the Mpox virus.

In March 2023, Lucira Health launched the first and only at-home COVID-19 and flu tests in the U.S. The U.S. FDA gave the COVID-19 & Flu Home Test the first and only Emergency Use Authorization (EUA) for OTC usage at home and other non-laboratory locations.

In August 2023, Indian companies CrisprBits and MolBio Diagnostics entered a strategic collaboration to revolutionize POC diagnostics by integrating CRISPR technology into POC tests to detect pathogens and genetic markers.

Technology

1. Chips and Microarrays
2. In Situ Hybridization
3. Sequencing
4. Mass Spectrometry (MS)
5. PCR
6. Other Technologies

Application

1. Pharmacogenomics
2. Infectious Disease
3. Genetic Disease Screening
4. Oncology
5. Blood Screening
6. Microbiology
7. Human Leukocyte Antigen Typing

Product

1. Instruments
2. Reagents
3. Other Products

End User

1. Hospitals
2. Laboratories
3. Other End Users

Geography

North America

1. United States
2. Canada

Europe

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey

Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. United Arab Emirates

Company Insights:

• Overviews
• Recent Developments & Strategies
• Product Portfolio & Product Launch in Last 1 Year
• Revenue

Company Analysis:

1. F Hoffmann-la Roche Ltd
2. Illumina Ltd
3. Hologic Corporation
4. Agilent Technologies Inc.
5. Qiagen NV
6. Myriad Genetics
7. Abbott Laboratories
8. Biomerieux SA
9. Bio-Rad Laboratories Inc.
10. Sysmex Corporation.

Key Questions Answered in This Report:

Question:    How big is the Molecular Diagnostics market?

Answer:    The global Molecular Diagnostics market size was estimated to reach USD 26.27 billion in 2032 while it was estimated to reach US$ 11.88 billion by 2023.

Question:    What is the Molecular Diagnostics market growth rate?

Answer:    The global Molecular Diagnostics market is expected to grow at a compound annual growth rate of 9.21% from 2024 to 2032.

Question:    Who are the key players in Molecular Diagnostics market?

Answer:    Some key players operating in the Molecular Diagnostics market includes F Hoffmann-la Roche Ltd, Illumina Ltd, Hologic Corporation, Agilent Technologies Inc., etc.

Question:    What are the factors driving the Molecular Diagnostics market?

Answer:    Key factors that are driving the Molecular Diagnostics market growth include Growth in illnesses like HIV, HPV, and STIs combined with major industry actors' efforts to increase access to affordable resources, An increasing number of people are getting older, there is a growing need for genetic testing, and technology developments are all contributing to this expansion, the increasing number of elderly people worldwide and the occurrence of illnesses such as cancer, heart disease, neurological conditions, diabetes, obesity, and infections are propelling the expansion of this market.

Question:    Which Region held the largest market share in the Molecular Diagnostics market?

Answer:    “North America” had the largest share in the Molecular Diagnostics Market.

Report Details: