Molecular Diagnostics Market Size, Share & Trends Analysis Report by Product (Reagents,) Test Type (Point-of-care) Technology (Isothermal Nucleic Acid Amplification Technology, Transcription Mediated Amplification) Application (Genetic Testing) End-User (Diagnostic Labs) and Region, Forecast Period – 2028

Report ID - MRC_472 | Pages - 321 | Category - Healthcare and Pharma

Molecular Diagnostics Market Insights

Molecular Diagnostics Market is projected to be worth USD 30.63 Billion by 2028, registering a CAGR of 7.99% CAGR during the forecast period (2022-2028), the market was valued at USD 17.7 Billion in 2020. The polymerase chain reaction dominated the market due to an increase in the use of PCR technology to detect COVID-19 disease. The hospitals segment dominated the market, owing to an increase in the number of patients treated for various infectious diseases. The market in North America is expected to grow significantly due to significant expenditures in the field, robust economic growth, and the rising prevalence of target chronic conditions

Molecular diagnostics is the measurement and detection of genetic material associated with a specific disease. It is used at the molecular level to identify DNA and RNA. The use of molecular diagnostics can help to improve clinical outcomes and medical decisions. Molecular diagnostic tests analyze molecules such as DNA, protein, or RNA in a fluid or tissue to identify a disease. By utilizing molecular and genetic technologies, molecular diagnostics is now used in the early detection of infectious diseases, cancer, and genetic disorders. It is also used to detect anomalies in the prenatal stage. Molecular diagnostic kits are also used for pharmacogenetics testing and blood donor screening.

Molecular Diagnostics Market Dynamics

Driver:

The rising prevalence of infectious diseases and genetic disorders in the population, increasing investment in the adoption of molecular diagnostic tests are the major drivers of the molecular diagnostics market.

Restraints:

Stringent regulations associated with the approval process for molecular diagnostics limit the growth of the molecular diagnostics market.

Opportunity:

Developing economies such as India, and China attributes high disease prevalence, large patient population, and growing medical tourism is providing growth opportunities in the molecular diagnostics market.

COVID-19 Analysis of Molecular Diagnostics Market

The COVID-19 pandemic had a massive impact on the healthcare sector. COVID-19 had a negative impact, but the impact was moderate overall due to increased demand for molecular diagnostic technologies for COVID-19 testing. Lockdowns caused by the COVID-19 outbreak delayed people getting their health checked, reducing the number of tests performed and reagent sales. Dealing with the infectious disease has become a major medical concern around the world since the COVID-19 pandemic. Aside from vaccinations and therapeutic medications, there is a growing demand for more precise and simple testing methods, as well as the expansion of testing structures.

Molecular Diagnostics Market Report Coverage

Report AttributesReport Details
Study Timeline2016-2028
Market Size in 2028 (USD Billion)30.63
CAGR (2022-2028)7.99%
By Product TypeReagents, Kits, Instruments
By Test TypeLab, Point-of-care (PoC)
By TechnologyPolymerase chain reaction (PCR), Isothermal Nucleic Acid Amplification Technology(INAAT), Transcription Mediated Amplification(TMA), In Situ Hybridization(ISH)
By ApplicationInfectious, Oncology, Genetic Testing
By End-User Diagnostic Labs, Hospitals
By geographyNorth America: U.S., Canada, Mexico

Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific

Latin America: Brazil, Argentina, Chile, Rest of Latin America

The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA

Molecular Diagnostics Market Segment Analysis

By Product Type

The product type segment is divided into reagents, kits, and instruments. The reagents segment dominated the global market and is expected to continue dominating during the forecast period. Advancements in R&D activities in the pharmaceutical and biotechnology industries and a surge in point-of-care testing adoption are factors responsible for the market growth.

global molecular diagnostics market by product type

Test Type

The test type segment is bifurcated into Lab, Point-of-care (PoC). The lab tests segment held the largest share of the molecular diagnostics market. The growing need for automation, as well as the rising incidence of various infectious diseases, are driving the growth of this segment.

global molecular diagnostics market by testtype

Technology

The technology segment is divided into Polymerase chain reaction (PCR), Isothermal Nucleic Acid Amplification Technology (INAAT), Transcription Mediated Amplification (TMA), and In Situ Hybridization(ISH). The polymerase chain reaction segment dominated the global market and is expected to maintain this dominance throughout the forecast period. This is due to the rise in the use of PCR technology to detect COVID-19 disease, as well as a surge in the launch of molecular diagnostics instruments.

Application

The application segment includes infectious diseases, oncology, and genetic testing. Infectious disease diagnostics held the largest share of the global molecular diagnostics market. The development of advanced assays for the diagnosis of various diseases and conditions is driving market growth. Along with that increasing prevalence of infectious diseases such as flu, cold, and chicken pox, Covid-19, and others, can also be attributed to the large share of this segment.

End-User

The end-user segment is categorized into hospitals, diagnostic labs. The hospital segment dominated the global market and is expected to maintain this trend during the forecast period. An increase in the number of patients treated for various infectious diseases, and chronic disease such as cancer, cardiovascular disease, kidney failure and others that require molecular analysis for diagnosis and rapid treatment initiation is responsible for market growth.

By Region

The region segment is divided into Asia Pacific, Europe, North America, Middle East, and Africa, Latin America. North America led the global molecular diagnostics market. The region’s dominance can be attributed to the rise in diagnostic facilities and the emergence of new regional players. Due to increased government investments in molecular diagnostic tests, North America is the leading market for molecular diagnostics. The region’s molecular diagnostics market is expanding due to a rise in the incidence of chronic diseases and an unhealthy lifestyle that leads to several illness. Futher, factors, such as a large geriatric population and a rise in demand for personalized medicines, are expected to boost the North American market. Besides, technological advancements in the region are expected to play an important role in the regional market’s growth. Increasing access to healthcare services and the entry of new companies are expected to drive market growth in North America during the forecast period.

Molecular Diagnostics Market Competitive Landscape

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, surge in Research and Development (R&D), product innovation, and various business strategies have accelerated the growth of the market. Some of these players in molecular diagnostics Market are as follows.

Key players

  • STEMCELL Technologies, Inc.
  • Astellas Pharma, Inc.
  • Cellular Engineering Technologies, Inc.
  • BioTime, Inc.
  • Takara Bio, Inc.
  • S. Stem Cell, Inc.
  • BrainStorm Cell Therapeutics, Inc.
  • Cytori Therapeutics, Inc.
  • Osiris Therapeutics, Inc.
  • Caladrius Biosciences, Inc.

Recent Development

  • September 2021, F. Hoffmann-La Roche Ltd. (Switzerland) announced the acquisition of TIB Molbiol (Germany). This acquisition broadens the company’s PCR test portfolio with infectious disease assays.
  • June 2021, Mobidiag Oy (Finland), a pioneer in acute care molecular diagnostic testing, was acquired by Hologic, Inc. (US). This acquisition will help Hologic expand its molecular diagnostics product portfolio.

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