Molecular Diagnostics Industry to Cross $36 Billion by 2028 - Products, Services, Financials, and Key Developments for Abbott, Agilent Tech, Thermo Fisher Scientific, Roche, bioMerieux, and Others - ResearchAndMarkets.com

The "Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.

The global molecular diagnostics market is projected to grow from US$ 16,258.97 million in 2021 to US$ 36,176.65 million by 2028; it is expected to grow at a CAGR of 12.1% during 2021-2028. The market growth is mainly attributed to an increase in demand for point-of-care devices, developments by market players, and a rise in the prevalence of associated diseases. However, the increasing prevalence of associated diseases is expected to limit market growth.

Molecular diagnostics has wide applications in various indications such as oncology, infectious diseases, genetic testing, cardiac diseases, and immune system disorders. The increasing prevalence of the associated indications is expected to drive the market. For instance, cancer is one of the leading causes of death worldwide. The early detection of cancer can prevent death among the patients. POC diagnostics play an essential role in the early role and monitoring of cancer.

The World Health Organization (WHO) stated that about 70% of deaths in low- and middle-income countries were caused by cancer in September 2021. In addition, as per the Global Burden of Disease Study in the Global Health Data Exchange and the World Health Statistics 2020 Cardiovascular Disease (CVD) mortality in China 322 per 100,000 population, India has reported 185 per 100,000 population at an early stage of CVD.

As per the American Cancer Society, it is estimated that about 1.9 million new cancer cases were diagnosed in 2021 in the US. Moreover, as per the data published by the UK.GOV on November 22, November 2021, the infection rate of COVID-19 is about 422.7 per 100,000 population. Thus, the rising prevalence of target diseases in molecular diagnostics is expected to drive the market.

Based on disease area, the molecular diagnostics market is segmented into oncology, infectious disease, genetic testing, cardiac diseases, immune system disorders, and others. The infectious disease segment would hold the largest share of the market in 2021. The oncology segment is expected to register the highest CAGR during the forecast period.

In terms of technology, the molecular diagnostics market is segmented into polymerase chain reaction, isothermal nucleic acid amplification technology, DNA sequencing and next-generation sequencing, in-situ hybridization, DNA microarray, and others. The polymerase chain reaction segment would hold the largest market share in 2021, and it is further expected to register the highest CAGR in the market during 2021-2028.

Based on product and services, the molecular diagnostics market is segmented into assays and kits, instruments, and services and software. The assays and kits segment would hold the largest market share in 2021, and it is further expected to register the highest CAGR in the market during 2021-2028.

In terms of end user, the molecular diagnostics market is segmented into hospitals and clinics, diagnostic laboratories, research and academic institutes, and others. The diagnostic laboratories segment would hold the largest market share in 2021, and it is further expected to register the highest CAGR in the market during 2021-2028.

Key Topics Covered

1. Introduction

1.1 Scope of the Study

1.2 Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Molecular Diagnostics Market - Market Landscape

4.1 Overview

4.2 PEST Analysis

4.3 Experts Opinion

5. Molecular Diagnostics Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Increase in Demand for Point-of-Care and Developments by Market Players

5.1.2 Increasing Prevalence of Associated Diseases

5.2 Market Restraints

5.2.1 Limitations Associated the Molecular Testing

5.3 Market Opportunities

5.3.1 Global and Regional Players to Explore Untapped Markets for Potential Opportunities

5.4 Future Trends

5.4.1 Increasing Popularity of At-home Healthcare Services

5.5 Impact Analysis

6. Molecular Diagnostics Market - Global Analysis

6.1 Global Molecular Diagnostics Market Revenue Forecast and Analysis

6.2 Global Molecular Diagnostics Market, by Geography - Forecast and Analysis

6.3 Market Share of Key Players (%), 2020

7. Molecular Diagnostics Market Analysis - By Disease Area

7.1 Overview

7.2 Molecular Diagnostics Market Revenue Share, by Disease Area (2021 and 2028)

7.3 Oncology

7.4 Infectious Disease

7.5 Genetic Testing

7.6 Cardiac Diseases

7.7 Immune System Disorders

7.8 Others

8. Molecular Diagnostics Market - By Technology

8.1 Overview

8.2 Molecular Diagnostics Market Revenue Share, by Technology (2021 and 2028)

8.3 Polymerase Chain Reaction (PCR)

8.4 Isothermal Nucleic Acid Amplification Technology (INAAT)

8.5 DNA Sequencing and Next-Generation Sequencing (NGS)

8.6 DNA Microarrays

8.7 In-Situ Hybridization (ISH)

8.8 Others

9. Molecular Diagnostics Market - by Product and Services

9.1 Overview

9.2 Molecular Diagnostics Market, by Product and Services, 2021 & 2028 (%)

9.3 Assays and Kits

9.4 Instruments

9.5 Services and Software

10. Molecular Diagnostics Market Revenue and Forecasts to 2028 - End User

10.1 Overview

10.2 Molecular Diagnostics Market Share, by End User - 2021 & 2028 (%)

10.3 Hospitals and Clinics

10.4 Diagnostic Laboratories

10.5 Research and Academic Institutes

10.6 Others

11. Molecular Diagnostics Market Revenue and Forecasts to 2028 - Geographical Analysis

11.1 North America: Molecular Diagnostics Market

11.2 Europe: Molecular Diagnostics Market

11.3 Asia Pacific

11.4 Middle East & Africa Molecular Diagnostics Market Revenue and Forecasts to 2028

11.5 South and Central America Molecular Diagnostics Market Revenue and Forecasts to 2028

12. Impact of COVID-19 Pandemic on Molecular Diagnostics Market

12.1 North America: Impact Assessment of COVID-19 Pandemic

12.2 Europe: Impact Assessment of COVID-19 Pandemic

12.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic

12.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic

12.5 South and Central America: Impact Assessment of COVID-19 Pandemic

13. Molecular Diagnostics Market - Industry Landscape

13.1 Overview

13.2 Growth Strategies Done by the Companies in the Market (%)

13.3 Organic Developments

13.4 Inorganic Developments

14. Company Profiles

14.1 Abbott

14.1.1 Key Facts

14.1.2 Business Description

14.1.3 Products and Services

14.1.4 Financial Overview

14.1.5 SWOT Analysis

14.1.6 Key Developments

14.2 Agilent Technologies, Inc.

14.3 Thermo Fisher Scientific Inc.

14.4 F. Hoffmann-La Roche Ltd.

14.5 QIAGEN

14.6 bioMerieux SA

14.7 Illumina, Inc.

14.8 Danaher

14.9 Siemens Healthineers AG

14.10 Novartis AG

14.11 TBG Diagnostics Limited

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