Outlook on the Molecular Diagnostics Global Market to 2028 - Featuring AltheaDX, AutoGenomics, Beckman Coulter and Becton Dickinson and Co Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 6, 2023--
The “Global Molecular Diagnostics Market Research and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The global molecular diagnostics market is anticipated to grow at a significant CAGR of 9.9% during the forecast period.
- Abbott Laboratories, Inc.
- Agilent Technologies, Inc.
- AltheaDX, Inc.
- AutoGenomics, Inc.
- Beckman Coulter, Inc.
- Becton Dickinson and Co.
- Biocartis N.V.
- bioMerieux S.A.
- Bio-Rad Laboratories, Inc.
- CareDX, Inc.
Molecular diagnostics involves the application of a large array of techniques, right from the molecular biology to conducting various tests for analyzing biological markers in the genome and proteomes. Molecular diagnostic is used to keep close track of infectious disease including COVID-19, and AIDS, its monitoring, risks involved, and among other purposes.
The applicability of such diagnostic practice is in demand owing to the rising trend of personalized treatment and personalized medication.
The major factor fueling the growth of the market includes the rise in the prevalence of infectious diseases and cancer across the globe. The demand for a cost-effective and accurate diagnostic solution is another factor propelling the growth of the market.
However, the stringent laws and regulations related the molecular diagnostics are the major factor restraining the growth of the market. The lack of adequate infrastructure in emerging countries is one of the major hindrances in the growth of the market in emerging regions.
The extended support of the government in terms of funding and technological advancement for the development of more precise and cost-effective diagnostic devices will propel the market in the future.
The global molecular diagnostics market is segmented based on technology, product, and applications. Based on the technology, the market is segmented into PCR, ISH, DNA microarray, NSG, isothermal nucleic acid amplification, and other technologies. Based on the product, the market is segmented into testing equipment, diagnostic reagents & kits, and services & software. Apart from this, by applications, the market is segmented into infectious diseases, cancer, CVD, genetic testing, neurological disease, and other.
Infectious Diseases are Dominating the Global Molecular Diagnostics Market
The diagnostics of infectious diseases have taken a huge share in the molecular diagnostics market as these diseases tend to spread rapidly creating demand for their diagnosis. The spread COVID-19 in December 2019 is one of the best examples of infectious diseases. RT-PCR is guided to be the best testing method for its diagnosis. The diagnosis of other diseases are sidelined as per The Hindu news reports and the main focus of all the governments and market player across the globe is on the research and treatment of COVID-19.
Cancer is at second in the molecular diagnostics market. According to an estimation of the American Cancer Society, four new cases have been recorded every minute in the US with one death. The weakening of the immune system as an impact of increasing pollution is resulting in the severity of these diseases.
Genetic testing and research are emerging segments in this market. To get rid of genetic diseases this segment can play a major role in the future. Additionally, the extinguished species of plants and animals can also be revived through this technique. Revive&Restore organization is using it to bring Wooly Mammoth back into existence in Europe which was extinguished in the ice age.
The global molecular diagnostics market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others, and the Rest of the World (the Middle East and Africa, and Latin America). The emerging countries such as India and China in the Asia-Pacific region are expected to grow significantly during the forecast attributed to the rapid development of the healthcare industry in such regions.
North America is Leading the Global Molecular Diagnostics Market
North America holds the major share in the molecular diagnostics market owing to the presence of a large number of companies both in the development and research of molecular diagnostic fields. The region also has the highest statistics related to cancer incidence. The European region follows North America in market share owing to the availability of well-established healthcare facilities and the increasing demand for personalized treatment. The Europe dominates in the testing kits segment of the market.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global molecular diagnostics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3. Competitive Landscape
3.1. Key Company Analysis
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xxpiha
View source version on businesswire.com:https://www.businesswire.com/news/home/20230106005192/en/
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INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY
SOURCE: Research and Markets
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PUB: 01/06/2023 06:45 AM/DISC: 01/06/2023 06:46 AM