Molecular Diagnostics Market Insight
Molecular diagnostic techniques are used to analyze biological markers in the genome and proteome. These tests help in diagnosing diseases, their root cause, and determining therapies to be administered in the treatment. The molecular diagnostic market has been witnessing an enormous growth over the past few years. The growth attributes to the rising demand for improved diagnostic procedures to control the prevalence of myriads of chronic diseases and infectious disease growing at an alarming rate.
Besides, increasing awareness regarding the benefits of these techniques and technological advancements are boosting the market growth, increasing the uptake of molecular diagnostic methods. According to Market Research Future (MRFR), the global molecular diagnostics market is estimated to reach USD 16,319.09 MN by 2025, registering 8.57% CAGR during the assessment period (2019-2025). Rise in incidences of different types of cancer and increasing cancer researches are the major growth propellers of the market.
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Recent COVID 19 outbreak has impacted the global molecular diagnostics industry phenomenally. Countries with high rates of coronavirus testing, such as China, Germany, and South Korea, are leading the pack in getting molecular-based testing ready for the market. Diagnostic technology companies are increasingly teaming with electrochemistry, molecular biology, and microfluidics for the development of hand-held portable devices that can leverage molecular diagnostics for this infectious disease – COVID 19.
Additionally, many diagnostic companies are focusing on the development of connected, portable lab to provide on-site care, including molecular diagnostic tests. They are making substantial investments targeting the development of a portable point-of-care COVID-19 test. On the other hand, stringent regulatory policies are significant factors projected to pose challenges in the growth of the market. Nevertheless, increasing emphasis on diagnostic companies would support the market growth during the estimated period.
Impact of COVID-19 on the Global Molecular Diagnostics Market
The spread of COVID-19 worldwide has dramatically increased the number of suspected cases and the geographic areas where laboratory testing must be implemented and intensified. The molecular testing for COVID-19 has led to shortages of molecular testing reagents worldwide for COVID-19. Beyond supply issues, there are limitations of absorption capacity in several regions, especially in low- and middle-income countries.
Testing remains a crucial step to control the rapid spread of the virus. With an increasing number of cases, governments across the world are exploring the opportunities of allowing private laboratories to ramp up testing. The wide availability of diagnostics will be required for the immediate detection of COVID-19 cases. The World Health Organization (WHO) has developed testing strategy recommendations as a part of the strategic preparedness and response plan. The foundation of this strategy includes:
- Testing in regions with community transmission and in settings where the testing capacity cannot meet needs must be prioritized. It should focus on the early detection and protection of vulnerable patients and healthcare workers.
- Focused testing in healthcare facilities helps ensure that infection prevention and control measures are effectively implemented so that vulnerable patients who do not have COVID-19 are safeguarded from nosocomial COVID-19 infection.
- Testing among vulnerable populations and risk groups will be important for early treatment to minimize progression to severe disease.
Currently Available Testing Kits: Molecular assays and immunoassays are the most widely adopted diagnostics tests for COVID-19. Furthermore, digital solutions are being developed to monitor and track the development of COVID-19. For instance, InferRead CT Pneumonia is being developed by Beijing-based Infervision Technology, which detects lesions from symptoms of pneumonia. Breath biomarkers that can detect and track the virus are currently being developed.
Global Molecular Diagnostics Market – Segments
The report is segmented into five dynamics;
By Product: Reagents & Kits, Instruments, Services & Software, and others.
By Technique: Polymerase Chain Reaction (PCR), Isothermal Amplification, Hybridization, Sequencing, Microarray, and others.
By Application: Infectious Diseases, Oncology, Genetic Tests, and others.
By End User: Hospitals & Clinics, Diagnostic Laboratories, and others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Molecular Diagnostics Market – Regional Analysis
North America leads the global molecular diagnostics market. The largest market share attributes to the rising prevalence of chronic diseases and growing demand for innovative diagnostics in the region. Also, the presence of key industry players and increasing numbers of pharmaceutical and biotechnology companies in the region boost market growth. The availability of advanced healthcare facilities and high per capita healthcare expenses in the region impact the growth of the market phenomenally. The North American molecular diagnostics market is estimated to retain its dominance over the global market throughout the forecast period.
Europe stands second in the global molecular diagnostics market. The market is majorly driven by the availability of R&D funds and rising support from the government for the development of the life science sector. Besides, the increasing geriatric population, alongside the growing occurrences of chronic diseases in the region, creates a huge demand for effective diagnosis procedures. The European molecular diagnostics market is projected to create a substantial revenue pocket during the review period.
The Asia Pacific molecular diagnostics market share has emerged as a rapidly growing market globally. Factors such as the large population base and growing biotechnology companies in the region push the growth of the market. Also, the burgeoning pharmaceutical industry in the region supports market growth exponentially.
China, Japan, and India dominate the Asia Pacific market owing to the growing economy and manufacturing activities in the molecular diagnostic field. Moreover, the rapidly growing medical devices sector in these countries provides further impetus to the regional market growth. The APAC molecular diagnostics market is expected to grow at a significant CAGR during the forecast period.
Global Molecular Diagnostics Market – Competitive Landscape
Highly competitive, the molecular diagnostics market appears fragmented due to the presence of many large and small players. Industry players are facing extreme pricing pressures, especially in the low-end market. Companies in the high-end market are pursuing collaboration and partnerships with other players to innovate new products.
They are employing a variety of distributions channels. The development of the online healthcare eCommerce market is another channel being increasingly used for expanding reach with minimum costs. Outsourcing to the cost-competitive manufacturer in China and other developing nations is another strategy being pursued by players.
Molecular Diagnostics Market Major Players:
Players leading the global molecular diagnostics market include Hologic, Inc., F.Hoffmann-La Roche Ltd., QIAGEN, Abbott Laboratories, Becton, Dickinson and Company, Cepheid, Thermo Fisher Scientific, Siemens, and Agilent Technologies, among others.
Molecular Diagnostics Industry/ Innovation/ Related News:
May 19, 2020 —- Bosch Healthcare Solutions (Germany) and BioGX (the US), announced their partnership for point of care molecular tests to expand molecular diagnostic tests offering for the Vivalytic platform. This partnership would accelerate the planned expansion of the test portfolio for the Vivalytic all-in-one platform.
Bosch Healthcare Solutions offers innovative diagnostic solutions in the healthcare and medical technology sectors. BioGX develops innovative molecular reagents for DNA-/RNA-based tests and provides partner-specified formulation and manufacturing services for molecular reagents platforms.
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According to the new market research report “Therapeutic Drug Monitoring Market by Product (Equipment (Immunoassay Analyzers), Consumables), Technology (Immunoassays, Chromatography-MS), Class of Drugs (Antibiotic Drugs, Bronchodilator Drugs), End User – Global Forecast to 2025″, published by MarketsandMarkets™, the Therapeutic Drug Monitoring Market is projected to reach USD 2.0 billion by 2025 from USD 1.4 billion in 2020, at a CAGR of 6.9% from 2020 to 2025.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155350443The TDM Market growth is largely driven by factors such as the rising number of organ transplant procedures, the use of TDM across various therapeutic fields, the increasing preference for precision medicine, a growing focus on R related to TDM, and technological advancements in immunoassay instruments.
Increasing adoption in the treatment of autoimmune diseases is expected to provide a wide range of growth opportunities for players in the market.Consumables is expected to hold the largest share of the therapeutic drug monitoring market in 2020On the basis of product, the market is segmented into equipment and consumables.
In 2019, consumables segment accounted for the largest market share, primarily due to the repeat purchases of kits and reagents and the increasing number of immunoassay tests being performed across the globe.Browse in-depth TOC on “Therapeutic Drug Monitoring Market“288 – Tables35 – Figures241 – PagesImmunoassays is expected to hold the largest share of the market in 2020Based on technology, the TDM Market is segmented into immunoassays and chromatography-MS.
In 2019, immunoassays segment accounted for the largest market share, due to the increasing incidence of chronic and infectious diseases and technological innovation.Antiepileptic drugs is expected to hold the largest share of the therapeutic drug monitoring market in 2020On the basis of class of drug, the market is segmented into antiepileptic drugs, antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs.
During 2019, antiepileptic drugs held the largest share among the class of drug due to the high complexity and heterogeneity of epilepsy, lack of biological markers or specific clinical signs aside from the frequency of seizures to assess treatment efficacy or toxicity, and the highly complex pharmacokinetics of these drugs.Hospital laboratories segment commanded the largest share of the TDM Market in 2019By end user, the market is segmented into hospital laboratories, commercial & private laboratories, and other end users.
Hospital laboratories accounted for the largest share of the market in 2019.
COVID-19 Impact Analysis on Medical Biosensors Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
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Rising technology advancements in microelectronics and biotechnology, increasing market penetration of electronic medical records, growing patient awareness levels, and enhanced applications in the cardiac care and point of care segment complement market growth.
However, the pace of medical biosensors technologies adaptability is sluggish, which is curbing the global market expansion.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The global thyroid function test market size is accounted to grow at a significant CAGR of around 6% during the forecast period 2021 to 2027.
Moreover, the increasing awareness regarding health and early diagnosis of disease and the availability of advanced diagnosis centers is anticipated to drive the market over the forecast period.The report titled "Thyroid Function Test Market - Global Trends, Market Share, Industry Size, Growth, Opportunities, and Forecast - 2020 – 2027" offers a holistic view of the Thyroid Function Test industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others.
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According to the new market research report “Hemato Oncology Testing Market by Product & Services (Assay Kits, Services), Cancer (Leukemia (Acute Lymphoblastic, Acute Myeloid), Non-Hodgkin’s Lymphoma), Technology (PCR, NGS, IHC), End-User (Clinical Laboratories, Hospitals) – Global Forecast to 2024″, published by MarketsandMarkets™, the Hemato Oncology Testing Market is projected to reach USD 4.0 billion by 2024 from USD 2.0 billion in 2019, at a CAGR of 14.8%.Browse in-depth TOC on “Hemato Oncology Testing Market“77 – Tables29 – Figures 116 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=262472877Growth in this market is driven mainly by the rising prevalence of lymphoma & myeloma cancers, growing focus on personalized medicine, and increasing collaborations for developing assays.
The services segment accounted for the largest share of the product & services segment in the Hemato Oncology Testing Market in 2018.Based on product & services, the market is segmented into assay kits and services.
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These trends are likely to drive market growth during the forecast period.Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=262472877Some of the leading players in the Hemato Oncology Testing Market include F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories (US), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Germany), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), MolecularMD (Ireland), Invivoscribe, Inc. (US), Asuragen, Inc. (US), Adaptive Biotechnologies (US), ArcherDx, Inc. (US), and ARUP Laboratories Inc. (US).Browse Adjacent Markets: Medical Devices Market Research Reports & ConsultingBrowse Related Reports:Molecular Diagnostics Market by Application (Infectious Disease (Hepatitis, HIV), Oncology, Genetic Testing), Technology (PCR, DNA Sequencing & NGS), End User (Hospital/Academic Laboratory), Product & Service (Reagent, Software) – Global Forecast to 2023Companion Diagnostics Market by Indication (Breast cancer, NSCLC, Colorectal cancer, Neurological disorders, Infectious Diseases), Technology (PCR, IHC, NGS, ISH), End User (Pharmaceutical & Biopharmaceutical Companies, Reference Lab) – Global Forecast to 2022About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Antibiotics Market The global antibiotics market is expected to reach USD 40.78 billion by 2025.
Global antibiotics market report presents thorough competitive analysis along with the market Size, share, and Future scope.
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Many low and middle income countries face both antibiotics excess and access issues.
A 2015 study by the Centers for Disease Dynamics and Control found that global antibiotic consumption had increased by 65% in the past 15 years (from 21.1 billion to 34.8 billion defined daily doses).
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