Molecular Diagnostics Global Market is Projected to Reach $27 Billion in 2030: Developing Countries Offer Strong Growth Prospects

Global Market for Molecular Diagnostics

Dublin, July 07, 2023 (GLOBE NEWSWIRE) -- The "Molecular Diagnostics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.The global market for Molecular Diagnostics estimated at US$13.6 Billion in the year 2022, is projected to reach a revised size of US$27 Billion by 2030, growing at a CAGR of 9% over the analysis period 2022-2030.

Reagents & Kits, one of the segments analyzed in the report, is projected to record a 9.5% CAGR and reach US$16 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Instruments segment is readjusted to a revised 8.1% CAGR for the next 8-year period. The U.S. Market is Estimated at $5.8 Billion, While China is Forecast to Grow at 10.3% CAGRThe Molecular Diagnostics market in the U.S. is estimated at US$5.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 10.3% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 7.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.6 Billion by the year 2030.Select Competitors (Total 84 Featured) -

Abbott Laboratories

Abbott Molecular

Becton, Dickinson and Company

bioMerieux SA

Cepheid

F. Hoffmann-La Roche Ltd.

Grifols International, S.A.

Hologic, Inc.

QIAGEN N.V.

QuestDiagnostics, Inc.

Siemens Healthcare GmbH

Tecan Group Ltd.

The ELITechGroup

Thermo Fisher Scientific

Key Attributes:

Report Attribute

Details

No. of Pages

880

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$13.6 Billion

Forecasted Market Value (USD) by 2030

$27 Billion

Compound Annual Growth Rate

9.0%

Regions Covered

Global

Key Topics Covered: I. METHODOLOGYII. EXECUTIVE SUMMARY1. MARKET OVERVIEW

Impact of Covid-19 and a Looming Global Recession

Molecular Diagnostics Receive Healthy Booster from CoVid-19 Tests

Total Number of COVID-19 Tests Conducted in the Most Impacted Countries: As on August 27, 2020

Molecular Diagnostics Receive Healthy Booster from CoVid-19 Tests

RT-PCR Emerges as the Frontline Technology for Testing COVID-19

Performance Analysis of COVID-19 Tests

Need of the Hour: RT-PCR Shortages to be Tackled Effectively by Molecular Diagnostics Companies

Molecular Diagnostic Companies Re-strategize Logistics to Stay at the Top End of the Game

Select Tests Introduced for COVID-19

COVID-19 Plunges Fortunes of Non- COVID Diagnostics

Cancer Testing Dives During First Half of 2020

Myeloproliferative Neoplasm Tests Suffer the Brunt of CoVID-19 Curbs

Labs Embark New Journeys to Retain Overall Volumes

Influencer Market Insights

World Market Trajectories

Molecular Diagnostics - Global Key Competitors Percentage Market Share in 2022 (E)

Molecular Diagnostics Competitor Market Share Scenario Worldwide (in %): 2020E

Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

PCR (Technology) Global Competitor Market Share Positioning for 2020 & 2027

In-Situ Hybridization (Technology) Market Share Breakdown of Key Players: 2020 & 2027

Isothermal Amplification (Technology) Competitor Revenue Share (in %): 2020 & 2027

Sequencing (Technology) Market Share Shift by Company: 2020 & 2027

Chips & Microarrays (Technology) Global Competitor Market Share Positioning for 2020 & 2027

Reagents & Kits (Component) Market Share Breakdown of Key Players: 2020 & 2027

Instruments (Component) Competitor Revenue Share (in %): 2020 & 2027

Software & Service (Component) Market Share Shift by Company: 2020 & 2027

Molecular Diagnostics: An Introduction

Types of Molecular Diagnostics Tests

Market Outlook

Major Growth Drivers

Developing Countries Offer Strong Growth Prospects

PCR Technology Leads the MDx Market

Infectious Diseases: The Largest Application Market

Reagents and Kits Dominate the Molecular Diagnostics Market

Competition

Global Molecular Diagnostics Market by Leading Player (2019)

Global Molecular Diagnostics Market for Clostridium difficile by Leading Player: 2019

Pharmaceutical Firms Carve their Niche in Molecular Diagnostic Market

Recent Market Activity

2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS

Faster Screening Necessitates Point-of-Care Diagnostics for COVID-19

Molecular Diagnostics Market Eyes Transformational Impact of Proactive Diagnostics

Next-Generation Sequencing to Emerge as Novel Technique in Fight with COVID-19

Isothermal Amplification: An Alternative to RT-PCR for COVID-19 Testing

Technological Innovations Set to Drive Market Growth

New Product Developments

Digitalization Trends Benefit Growth

Growing Role of Molecular Diagnostics in Personalized Medicine

Global Personalized Medicine Market: Revenues in US$ Million for the Years 2019, 2021, 2023 and 2025

Companion Diagnostics Drive Personalized Medicine

Biomarkers as Companion Diagnostics

Oncology-Based Molecular Diagnostics Lead Growth

Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040

Global Number of New Cancer Cases and Cancer-related Deaths by Cancer Site for 2018

Number of New Cancer Cases and Deaths (in Million) by Region for 2018

New Applications Hold Promising Potential

Next-Generation Sequencing (NGS) Technologies Keep Up the Momentum

Rising Emphasis on Lab Automation to Augur Well for Market Growth

World Laboratory Automation Market in US$ Billion for Years 2018, 2020, 2022, 2024 & 2026

Nanotechnology for Molecular Diagnostics

Growing Popularity of Chemo-Sensitivity Testing of CTCs

Genetic Disease Testing Offers Bright Prospects

Genetic Testing to Aid in Personalized Medicine

Pharmacogenomics Development Augurs Growth of Genetic Testing Market

Non-Invasive Prenatal Diagnostics - The Way Ahead

Nucleic Acid Amplification Methods for Detection of Antimicrobial Resistance

Growing Incidence of Infectious Diseases Spurs Opportunities

Infectious Diseases Remain Major Cause of Death in Under Developed Regions: Breakdown of Leading Causes of Death in Sub-Saharan Africa (in %)

PCR Plays a Vital Role in the Diagnosis of Infectious Diseases

Rising Incidence of Hospital Acquired Infections Propels Market Growth

Greater Number of Tests for HIV and Sexually Transmitted Diseases Amplify Growth

Global HIV Prevalence: Number of People Living with AIDs (in Thousands) by Region for 2018

Number of AIDS-Related Deaths (in Thousands) by Region for 2018

Rapid HIV Tests: A New Age Diagnostic Weapon against the Killer Disease

Home HIV Testing Emerges as a Lucrative Option

Molecular Tests Gaining Prominence in GC/Chlamydia Testing Market

Molecular Diagnostics Opens New Avenues in Viral Hepatitis Testing

Hepatitis B prevalence Worldwide by Region

HPV Testing: A Fast Growing Segment in the Molecular Diagnostic Testing Market

HPV Associated Disorders Market by Indication: 2019

Cervical Cancer: Rising Incidence & Mortality Enhances Need for Testing

Number of New Cervix Uteri Cases in the World by Region (2018)

Molecular based Tests Ingrain Roots in Blood Donor Screening Segment

Rise in Healthcare Expenditure to Drive Growth

World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023

Aging Population Drives Molecular Diagnostics Market

Elderly Healthcare Expenditure as a % of GDP

Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/bw1pqh

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Global Market for Molecular Diagnostics