The molecular quality controls market is expected to reach US$ 372. 64 million in 2028 from US$ 184. 62 million in 2021; it is estimated to grow at a CAGR of 10. 6% during 2021–2028. The growth of the market is mainly attributed to the key driving factors such as growing funds for genomics, declining cost of sequencing procedures, and increasing prevalence of genetic diseases fuel the growth of the market.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Molecular Quality Controls Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Analyte Type, Application, and End User and Geography" - https://www.reportlinker.com/p06130861/?utm_source=GNW
However, the dearth of skilled professionals hinders the market growth.
Molecular diagnostics methodologies are used for detecting disturbance between specific sequences in DNA or RNA. The irregularities such as single nucleotide polymorphism (SNP), deletions, rearrangements, and insertions lead to various diseases—such as infectious diseases, cancer, viral diseases, and sexually transmitted diseases (STDs).
As per Flu Facts and statistics report, during 2017-2018, there were around 31.4 million outpatient visits due to flu. It also mentioned that 5-20% of the US population gets flu every year. Furthermore, according to a National Cancer Institute, in 2020, around 1,806,590 new cases of cancer will be diagnosed in the US, with an estimated death count of 606,520. The number of people suffering from cancer is expected to rise to 19 million by 2024. Such high prevalence of infectious diseases and increasing incidence of cancer lead to high traction toward molecular diagnostics, as it is capable of diagnosing diseases with high specificity, further paving the way for treating patients with precision medicine. Various governments are focused on research and development in the field of precision medicine. In 2015, the US government launched the Precision Medicine Initiative (PMI) to increase awareness regarding advancements in the field. Therefore, the rise in focus on molecular diagnostics is emerging as a key opportunity for the molecular quality controls market players.
Based on product, the molecular quality controls market is segmented into independent controls and instrument-specific controls.In 2021, the independent controls segment accounted for a higher share of the market.
The independent controls are known to be unbiased, highly precise, and offer high sensitivity in short time.In addition, these products are receiving a steep rise in their adoption as they have varied applications at reduced operational costs.
Moreover, these controls are manufactured independently of the reagents, calibrators and instruments thus offering reliability and high sensitivity. Thus, the benefits offered by independent controls and launch of new products in the market are expected to account for the growth of the segment during the coming years.
The World Health Organization (WHO), National Health Service, Centers for Disease Control and Prevention (CDC), National Center for Biotechnology Information, and National Institutes of Health, Personalized Medicine Coalition along with company websites are among the major primary and secondary sources referred to while preparing the report on the molecular quality controls market.
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