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Global Molecular Diagnostics Market (2021 to 2026) - Growing Significance of Companion Diagnostics Presents Opportunities

Research and Markets
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Dublin, April 21, 2021 (GLOBE NEWSWIRE) -- The "Molecular Diagnostics Market by Product & Service(Reagents, Kits, PoC & Tabletop Instruments), Application(COVID-19, Hepatitis, HAI, HIV, Oncology, Genetic Tests), Technology (PCR, NGS, ISH), End User (Hospitals, Diagnostic Labs)-Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global molecular diagnostics market size is projected to reach USD 31.8 billion by 2026 from USD 17.8 billion in 2021, at a CAGR of 12.3% during the forecast period.

Market growth is driven by factors such as the increasing prevalence of infectious diseases and cancer, the rising funding for R&D, the increase in PoC testing devices and technological advancements. On the other hand, an unfavorable reimbursement scenario and the high cost of instruments is expected to limit market growth to a certain extent in the coming years.

The reagents & kits accounted for the highest growth rate in the molecular diagnostics market, by product & service, during the forecast period

The molecular diagnostics market is segmented into reagents & kits, instruments and other products. The reagents & kits segment accounted for the highest growth rate in the molecular diagnostics market in 2020. The requirement reagents & kits in large numbers compared to instruments is the main factor contributing to this segment's high growth rate. This segment's market growth can also be attributed to repeat purchases of reagents & kits compared to instruments.

Infectious Disease Diagnostics segment accounted for the highest CAGR

Based on the application, the molecular diagnostics market is segmented into infectious disease diagnostics, oncology testing, genetic tests and other applications. In 2020, the oncology testing segment accounted for the highest growth rate. Increasing incidence of cancer, technological advancements, and development of personalized medicine and companion diagnostic assays are the major factors driving this segment's growth.

Diagnostic Laboratories segment accounted for the highest CAGR

Based on end-users, the molecular diagnostics market is segmented into diagnostic laboratories, hospitals and clinics and other end users. In 2020, the diagnostic laboratories segment accounted for the highest growth rate. This can be attributed to increased test volume of infectious diseases and cancer and strengthening healthcare infrastructure for efficient disease diagnosis and treatment.

Asia Pacific: The fastest-growing region molecular diagnostics market

The global molecular diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Factors such as the government efforts to increase awareness about the early detection of diseases and regular health check-ups; continuously rising healthcare expenditure; increasing number of hospitals and diagnostic laboratories in India and China; and strengthening research base for diagnostic procedures across India, China, and Japan are driving the growth of the molecular diagnostics market in this region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Molecular Diagnostics Market Overview
4.2 Molecular Diagnostics Market, by Product & Service, 2021 Vs. 2026 (USD Million)
4.3 Molecular Diagnostics Market, by Technology, 2021 Vs. 2026 (USD Million)
4.4 Molecular Diagnostics Market, by End-user, 2021 Vs. 2026

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 the Increasing Prevalence of Infectious Diseases and Cancer
5.2.1.2 Rising Focus on R&D and Funding in Molecular Diagnostics
5.2.1.3 Increasing Awareness for Early Disease Diagnosis in Developing Countries
5.2.1.4 Rising Technological Advancements in Molecular Diagnostics
5.2.1.5 Increasing Use of Poc Diagnostic Tests
5.2.2 Restraint
5.2.2.1 Unfavorable Reimbursement Scenario
5.2.2.2 the High Cost of Instruments
5.2.3 Opportunities
5.2.3.1 the Growing Significance of Companion Diagnostics
5.2.3.2 Growth Opportunities in Emerging Countries
5.2.4 Challenges
5.2.4.1 Changing Regulatory Landscape
5.2.4.2 Operational Barriers
5.2.4.3 the Introduction of Alternative Technologies
5.2.5 Covid 19 Impact Analysis
5.3 Pricing Analysis
5.4 Patent Analysis
5.5 Value Chain Analysis
5.6 Supply Chain Analysis
5.7 Ecosystem Analysis
5.8 Porter's Five Forces Analysis
5.9 PESTLE Analysis
5.10 Regulatory Landscape
5.10.1 North America
5.10.1.1 US
5.10.1.2 Canada
5.10.2 Europe
5.10.3 Asia-Pacific
5.10.3.1 China
5.10.3.2 Japan
5.10.3.3 India
5.10.4 Latin America
5.10.4.1 Brazil
5.10.4.2 Mexico
5.10.5 Middle East
5.10.6 Africa
5.11 Trade Analysis
5.11.1 Trade Analysis for Diagnostic and Laboratory Reagents
5.11.1.1 Import Data for Diagnostic and Laboratory Reagents, by Country, 2016?2020 (USD Million)
5.11.1.2 Import Data for Diagnostic and Laboratory Reagents, by Country, 2016?2020 (Tons)
5.12 Technology Analysis

6 Molecular Diagnostics Market, by Product & Service
6.1 Introduction
6.2 Reagents & Kits
6.2.1 the Recurrent Purchase of Reagents & Kits is a Major Factor Driving Market Growth
6.3 Instruments
6.3.1 Tabletop Instruments
6.3.1.1 the Outbreak of COVID-19 and Rising Incidences of Cancer Drives the Growth of this Segment
6.3.2 Portable & Poc Instruments
6.3.2.1 the Increasing Adoption of Poc Technologies Drives the Growth of this Segment
6.4 Services & Software
6.4.1 the Growing Uptake of Advanced Instruments in the Molecular Diagnostics Market Drives Segment Growth

7 Molecular Diagnostics Market, by Technology
7.1 Introduction
7.2 Polymerase Chain Reaction (Pcr)
7.2.1 the Growing Use of Pcr in Proteomics and Genomics is a Major Growth Driver for this Segment
7.3 Isothermal Nucleic Acid Amplification Technology (Inaat)
7.3.1 the Cost-Benefits of this Technology is a Key Factor Driving the Market Growth
7.4 DNA Sequencing & Next-Generation Sequencing
7.4.1 Increasing Use of Ngs in the Diagnosis of Cancer is a Growth Driver for this Segment
7.5 in Situ Hybridization (Ish)
7.5.1 the Rising Prevalence of Cancer and Genetic Disorders is a Key Factor Driving Segment Growth
7.6 DNA Microarray
7.6.1 the Introduction of DNA Microarray Has Accelerated Gene Expression and Disease Diagnosis
7.7 Other Technologies

8 Molecular Diagnostics Market, by Application
8.1 Introduction
8.2 Infectious Disease Diagnostics
8.2.1 COVID-19
8.2.1.1 the Outbreak of the Pandemic is a Key Factor Driving Market Growth
8.2.2 Hepatitis
8.2.2.1 the Global Prevalence of Hepatitis is a Key Factor Driving Market Growth
8.2.3 Ct/Ng
8.2.3.1 Ct/Ng Infections Are the Most Commonly Prevalent Stds; Key Factor Driving the Market Growth
8.2.4 Hiv
8.2.4.1 the Increasing Number of Blood Transfusions & Donations Will Drive the Market Growth for this Segment
8.2.5 Hai
8.2.5.1 the Rising Burden of Mrsa Infections is a Key Factor Driving the Market Growth for this Segment
8.2.6 Hpv
8.2.6.1 Technological Advancements Such as Rapid Hpv Diagnostics to Drive the Market Growth for this Segment
8.2.7 Tuberculosis
8.2.7.1 the Increasing Burden of Tb Globally to Drive the Market Growth of this Segment
8.2.8 Influenza
8.2.8.1 the Rising Focus on Containing the Spread of Influenza Drives the Market Growth for this Segment
8.2.9 Other Infectious Diseases
8.3 Oncology Testing
8.3.1 Breast Cancer
8.3.1.1 the Increasing Prevalence of Breast Cancer is a Key Driver for Market Growth
8.3.2 Colorectal Cancer
8.3.2.1 the Rising Focus on the Development of Companion Diagnostic Assays Drives the Market Growth
8.3.3 Lung Cancer
8.3.3.1 Increasing Research for Lung Cancer Biomarkers to Drive the Market Growth
8.3.4 Prostate Cancer
8.3.4.1 Advancements in Genomic Technologies for the Development of New Biomarkers Drive the Market Growth
8.3.5 Other Cancers
8.4 Genetic Tests
8.4.1 Genetic Testing Enables the Diagnosis of Various Diseases
8.5 Other Applications

9 Molecular Diagnostics Market, by End-user
9.1 Introduction
9.2 Diagnostic Laboratories
9.2.1 Increasing Outsourcing of Activities to Diagnostic Laboratories for Reduced Costs Drives Market Growth
9.3 Hospitals and Clinics
9.3.1 the Increasing Number of Hospitals Worldwide is a Major Factor Driving Market Growth
9.4 Other End-users

10 Molecular Diagnostics Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.3.1 Germany
10.4 Asia-Pacific
10.5 Latin America
10.6 Middle East and Africa

11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies
11.3 Revenue Share Analysis of Top Market Players
11.4 Market Share Analysis
11.4.1 Molecular Diagnostics Market Share Analysis, by Technology
11.4.1.1 Polymerase Chain Reaction (Pcr)
11.4.1.2 Dna Sequencing and Ngs
11.4.1.3 Isothermal Nucleic Acid Amplification Technology (Inaat)
11.4.1.4 in Situ Hybridization (Ish)
11.4.2 Molecular Diagnostics Market Share Analysis, by Application
11.4.2.1 Infectious Disease Applications
11.5 Competitive Leadership Mapping
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
11.6 Competitive Leadership Mapping for Start-Ups/ Sme (2020)
11.6.1 Progressive Companies
11.6.2 Starting Blocks
11.6.3 Responsive Companies
11.6.4 Dynamic Companies
11.7 Product and Geographical Footprint Analysis of Top Players
11.8 Competitive Scenario
11.8.1 Molecular Diagnostics: Product Launches and Regulatory Approvals (January 2018 - March 2021)
11.8.2 Molecular Diagnostics: Deals (January 2018 - March 2021)
11.8.3 Molecular Diagnostics: Other Developments (January 2018 - March 2021)

12 Company Profiles
12.1 Key Players
12.1.1 F. Hoffmann-La Roche Ltd.
12.1.2 Hologic, Inc.
12.1.3 Biomerieux Sa
12.1.4 Abbott Laboratories
12.1.5 Qiagen
12.1.6 Thermo Fisher Scientific Inc.
12.1.7 Illumina, Inc.
12.1.8 Myriad Genetics Inc.
12.1.9 Siemens Healthineers Ag
12.1.10 Danaher Corporation
12.1.11 Grifols S.A.
12.1.12 Agilent Technologies Inc.
12.1.13 Becton, Dickinson and Company
12.1.14 Diasorin S.P.A
12.2 Start Up/ Sme Players
12.2.1 Quidel Corporation
12.2.2 Genetic Signatures
12.2.3 MDX Health
12.2.4 Exact Sciences
12.2.5 Biocartis Nv
12.2.6 TBG Diagnostics Ltd.
12.2.7 Genmark Diagnostics Inc.
12.2.8 Luminex Corporation
12.2.9 HTG Molecular Diagnostics
12.2.10 Vela Diagnostics
12.2.11 Amoy Diagnostics Co. Ltd.
12.2.12 Molbio Diagnostics Pvt. Ltd.
12.2.13 Elitechgroup
12.2.14 Savyon Diagnostics Ltd.
12.2.15 Abacus Diagnostica Oy
12.2.16 Geneombio Technologies Pvt Ltd.

13 Appendix
13.1 Insights from Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

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