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Global Molecular Diagnostics Market

March 16, 2018

Global Molecular Diagnostics Market, By Product Type (Instruments, Reagents, and Software and services), By Technology (PCR, In-Situ Hybridization (ISH), Mass Spectrometry, Gene Sequencing, Chips and Microarrays, and Others), By Application (Oncology, Genetic Testing, STDs, Tissue Typing, Blood Screening, Microbiology, Prenatal Diagnosis, and Others), By End User (Hospitals & Clinics, Diagnostic Laboratories, Academic and Research Labs, and Others), By Region (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa) - Global Forecast, 2020-2025.

Report Code : FMR223      
Industry : Clinical Diagnostic
Pages : 283 Pages
Format :   PPT Format   PDF Format

The global molecular diagnostics market was valued at US$ xx million in the year 2019. This market is estimated to be valued at US$ xx million in the year 2020, and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020-2025). Molecular diagnostics field involves the detection of genomic variants, in order to facilitate diagnosis, subclassification, prognosis, of the various application including oncology, genetic testing, microbiology, STDs, blood screening, virology, tissue typing, and prenatal diagnostics.

Table 1. Global molecular diagnostics market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Product Type)

Instruments, Reagents, and Software and services

Market Segmentation (By Technology)

PCR, In-Situ Hybridization (ISH), Mass Spectrometry, Gene Sequencing, Chips and Microarrays, and Others

Market Segmentation (By Application)

Oncology, Genetic Testing, STDs, Tissue Typing, Blood Screening, Microbiology, Prenatal Diagnosis, and Others

Market Segmentation (By End User)

Hospitals & Clinics, Diagnostic Laboratories, Academic and Research Labs, and Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East and Africa

Key Players Coverage

Thermo Fisher Scientific, Becton Dickinson, Abbott Laboratories, Roche Diagnostics, Novartis, Diasorin S.P.A., Johnson and Johnson, bioMerieux, Bio-Rad Laboratories, Qiagen NV, Sysmex Corporation, Siemens Healthcare, Danaher Corporation, and Hologic., among others.

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

Nowadays, molecular diagnostics has become the leading diagnostic platform for the research and treatment purpose for most of the chronic disease conditions. This has provided a robust opportunity for key players operating in the diagnostics industries to launch innovative molecular diagnostics test, assay, instruments/equipment to enhance and strengthen their molecular diagnostics product portfolio. This is one of the major factors driving the growth of the molecular diagnostics market. For instance, recently in March 2020, Sense Biodetection Limited (Sense) launched the world’s first instrument-free, point-of-care molecular diagnostic test for SARS-CoV-2. 

Moreover, prevalence of chronic diseases such as cancer, infectious disease, and others disease, has increased the demand for the molecular diagnostics test. For instance, according to the National Cancer Institute (NCI), in 2018, an estimated 1,735,350 new cases of cancer have been registered in the U.S.

However, product recall has been considered as one the major restraining factors for the molecular diagnostics market. Mechanical defects and false results associated with molecular diagnostics instruments may result into product recalls. For instance, in August 2019, the U.S. Food and Drug Administration (FDA) issued a class I product recall for QiaSymphony SP/AS (sample prep/assay setup) instruments, developed by Qiagen N.V. due to potential leaking issues that may lead to delayed or inaccurate results. Such product recalls also hamper the manufacturers’ production and distribution capabilities. 

Figure 1. PORTER’S Analysis

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

North America is anticipated to hold a leading position in the global molecular diagnostics market owing to the high prevalence of the cancer and infections in the U.S; this further leads to rise in the demand for molecular diagnostics tests. For instance, according to Centers for Disease Control and Prevention estimation, in 2018, around 37,832 people have been diagnosed with HIV in the U.S. Moreover, recent outbreak of the coronavirus (COVID-19) infection, has driven the demand of the molecular diagnostic test in the U.S.

Figure 2. Regional Analysis

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Key players involved in global molecular diagnostics market include: Thermo Fisher Scientific, Becton Dickinson, Abbott Laboratories, Roche Diagnostics, Novartis, Diasorin S.P.A., Johnson and Johnson, bioMerieux, Bio-Rad Laboratories, Qiagen NV, Sysmex Corporation, Siemens Healthcare, Danaher Corporation, and Hologic., among others

These players are increasingly focusing on the adoption of inorganic growth strategies such as acquisition and mergers, in order to strengthen their molecular diagnostics product portfolio. For instance, in May 2016, DiaSorin S.p.A. acquired Focus Diagnostics' immunodiagnostic and molecular diagnostic products business from Quest Diagnostics. Also, bioMérieux, a player in the field of in vitro diagnostics, acquired the BioFire Diagnostics Inc., a privately held U.S.-based company specialized in molecular biology, in September 2014. Thus, such initiatives by the major players are contributing to the growth of the molecular diagnostics market.

 

Figure 3. Market Share of Key Players, 2019

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

By Product Type

  • Instruments
  • Reagents
  • Software and services

By Technology

  • PCR
  • In-situ Hybridization (ISH)
  • Mass Spectrometry
  • Gene Sequencing
  • Chips and Microarrays
  • Others

By Application

  • Oncology
  • Genetic Testing
  • Blood Screening
  • STDs
  • Tissue Typing
  • Microbiology
  • Prenatal Diagnosis
  • Others

By End User

  • Hospitals & Clinics
  • Diagnostic Laboratories
  • Academic and Research Labs
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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Note: This report provides in-depth analysis of the global molecular diagnostics market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global molecular diagnostics market?
  • What key factors are expected to increase the demand for global molecular diagnostics market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global molecular diagnostics market?
  • What is the total market value (US$ Mn) generated in global molecular diagnostics market by product type in 2019 and what are the forecasts by 2025?
  • Which class of product type (instruments, reagents, and software and services) is expected to dominate the global molecular diagnostics market in the coming years?
  • Which technology (PCR, in-situ hybridization (ISH), mass spectrometry, gene sequencing, chips and microarrays, and others) is expected to foster the global molecular diagnostics market?
  • Which class of application (oncology, genetic testing, STDs, tissue typing, blood screening, microbiology, prenatal diagnosis, and others) is expected to propel the market in the foreseen future?
  • Which end user is expected to foster the molecular diagnostics market growth?
  • What was the total revenue generated by the global molecular diagnostics market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global molecular diagnostics market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the global molecular diagnostics market?
  • What are the major outcomes derived from the Porter’s five forces?
  • What new products are going to be approved or launched in the coming years which may have huge impact in the market?
  • What insights are derived through the analysis of key players on following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?
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