Molecular Diagnostics Market is Expected to Grow at a Substantial CAGR of 9.21% and is Contemplated to Reach USD 16.12 Billion by 2026, Estimates DelveInsight

Las Vegas, USA, Feb. 14, 2022 (GLOBE NEWSWIRE) — Molecular Diagnostics Market is Expected to Grow at a Substantial CAGR of 9.21% and is Contemplated to Reach USD 16.12 Billion by 2026, Estimates DelveInsight

Molecular Diagnostics Market is contemplated to witness huge demand in the upcoming years due to rising infectious diseases and their diagnosis, the presence of global as well as regional manufacturers  active in developing the Molecular Diagnostic products such as Qiagen, Roche, Molbio Diagnostics Pvt. Ltd., among others. Also, improving healthcare infrastructure, government initiatives in raising awareness regarding molecular diagnosis will contribute to the Molecular Diagnostics market growth in these regions.

DelveInsight’s Molecular Diagnostics Market Insights and Forecast report provides the current and forecast Molecular Diagnostics Market, upcoming innovation in the devices, individual market shares, challenges, drivers and barriers, market trends, and key competitors in the Molecular Diagnostics Market. 

Some of the salient features from the Molecular Diagnostics Market report: 

• As per DelveInsight analysis, in terms of revenue share, North America is predicted to  occupy a major share in the overall Molecular Diagnostics Market during the forecasted period.
• Key companies working proactively in the Molecular Diagnostics Market include F. Hoffmann-La Roche Ltd, Hologic, Inc., bioMérieux SA, Abbott Laboratories, QIAGEN, Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Danaher., Myriad Genetics, Inc., Agilent Technologies Inc., Illumina, Inc., Becton, Dickinson and Company, DiaSorin Inc., MDxHealth., Genetic Signatures., Biocartis, Exact Sciences Corporation, Amoy Diagnostics Co., Ltd., Molbio Diagnostics Pvt. Ltd., Savyon Diagnostics, TBG Diagnostics Limited., Quidel Corporation, ELITechGroup, Seegene, Inc.,  Abacus Diagnostica Oy, and others.
• DelveInsight analyzes that Global Molecular Diagnostics Market was valued at USD 9.56 billion in 2020, growing at a tremendous CAGR of 9.21% during the forecast period from 2021 to 2026.  The Molecular Diagnostics market size is anticipated to reach USD 16.12 billion  by 2026.
• In November 2021, Roche launched the cobas® 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark.
• In October 2021, Hologic has launched its Molecular Diagnostic System, Novodiag, for on-demand molecular testing in Europe. The system combines real-time polymerase chain reaction (PCR) with microarray capabilities to enable the identification of multiple pathogens in a single sample.
• In March 2021, Materials and Machines Corporation (MatMaCorp) introduced its new handheld device MY Real-Time Analyzer (MYRTA), which can carry out polymerase chain reaction (PCR) amplification and real-time fluorescent detection.
• The increase in demand for Molecular Diagnostics is primarily attributed to the growing incidence of infectious diseases such as the sudden outbreak of COVID-19 and the rising burden of cancers across the globe.

To pick on the latest highlights related to Molecular Diagnostics, get the snapshot of the key highlights entailed in the Molecular Diagnostics Market Report

Molecular Diagnostics Overview 

Molecular Diagnostic tests use highly sensitive and specific laboratory methods to detect and identify biomarkers at the nucleic acid (DNA and RNA) level. Typical molecular-based applications include medical diagnosis, prognosis, disease monitoring, and optimal treatment.

Molecular Diagnostics Market Insights

Geographically, the Global Molecular Diagnostic market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of market share, North America tends to dominate the Global Molecular Diagnostic market in the present scenario and is expected that it will continue to dominate during the forecast period. This domination is owing to the growing burden of infectious disease in the region. Moreover, the rise in the incidence of cancer, the presence of key market players and leading national clinical laboratories, and growing demand for technologically advanced point-of-care diagnostics platforms, among others are expected to fuel the overall Molecular Diagnostics market in the region.

For instance, on March 27, 2020, Abbott received emergency use authorization (EUA) for its new Abbott ID NOW COVID-19 test, the fastest available molecular point-of-care test for the detection of COVID-19.

Further, the Europe and Asia Pacific regions have the future potential for the Molecular Diagnostics market. This is mainly due to the rising cases of various zoonotic and infectious diseases, the increase in cancer burden in the region. On August 26, 2020, FDA approved liquid biopsy next-generation sequencing-based FoundationOne Liquid CDx test as a companion diagnostic to identify mutations in BRCA1 and BRCA2 genes in cell free-DNA isolated from plasma specimens of metastatic castration-resistant prostate cancer (mCRPC) patients.

Click here to Understand more about the Molecular Diagnostics Market Landscape @ Molecular Diagnostics Market Assessment

Molecular Diagnostics Market Dynamics 

The Molecular Diagnostics market is gaining momentum at present owing to the fact that molecular tests are routinely utilized for the diagnosis of cancer and other infectious diseases as well. The increase in demand for Molecular Diagnostics is primarily attributed to the growing incidence of infectious diseases such as the sudden outbreak of COVID-19 and the rising burden of cancers across the globe, Lyme diseases, and others. In addition, there are other factors that are expected to drive the Molecular Diagnostics market such as technological advancements and rapid product approvals in the Molecular Diagnostics product arena. Also, product approval for the detection and differentiation of HIV infection for personalized management of patients with HIV will also bolster the Molecular Diagnostics market. 

However, certain factors such as false-negative or false-positive results with some Molecular Diagnostics technology, and the high cost of the instruments are likely to impede the Molecular Diagnostics market growth.

To gain a better understanding of the COVID-19 impact on Molecular Diagnostics, get a snapshot of the Molecular Diagnostics Market Analysis

Scope of the Molecular Diagnostics Market Report

• Coverage: Global
• Study Period: 2021-2026
• Market Segmentation By Product Type – Instruments, Reagents And Others
• Market Segmentation By Technology – Polymerase Chain Reaction [PCR], Sequencing, In-Situ Hybridization, Microarray Analysis, And Others
• Market Segmentation By  Application – Infectious Disease Diagnosis, Oncology Testing, Genetic Testing, Pharmacogenomics, Histology, And Others
• Market Segmentation By End-User– Hospitals, Pathology Labs, And Others
• Market Segmentation By Geography – North America, Europe, Asia-Pacific, and Rest of World
• Key Molecular Diagnostics Companies –  F. Hoffmann-La Roche Ltd, Hologic, Inc., bioMérieux SA, Abbott, QIAGEN, Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Danaher., Myriad Genetics, Inc., Agilent Technologies Inc., Illumina, Inc., Becton, Dickinson and Company, DiaSorin Inc., MDxHealth., Genetic Signatures., Biocartis, Exact Sciences Corporation, Amoy Diagnostics Co., Ltd., Molbio Diagnostics Pvt. Ltd., Savyon Diagnostics, TBG Diagnostics Limited., Quidel Corporation, ELITechGroup, Seegene, Inc.,  Abacus Diagnostica Oy, and others.
• Porter’s Five Forces Analysis
• Product Profiles
• Case Studies 
• KOL’s Views
• Analyst’s View

Delveinsight Analysis: The Global Molecular Diagnostics Market is expected to grow at a CAGR of 9.21% and will reach USD 16.12 billion by 2026.

Know more about which MedTech player is set to emerge as the trendsetter @ Molecular Diagnostics Market Landscape Analysis 

Table of Contents 

Learn more about the report offerings @ Molecular Diagnostics Market Outlook

Related Reports

Neurological Diagnostic and Monitoring Equipment Market 

The Global Neurological Diagnostic and Monitoring Equipment Market was valued at USD 11.12 billion in 2020, growing at a CAGR of 6.70% during the forecast period from 2021 to 2026. The report delivers an in-depth understanding of Neurological Diagnostic and Monitoring Equipment Market historical and forecasted epidemiology as well as the market trends, market drivers & barriers, unmet needs, and key companies involved such as Natus Medical, Nihon Kohden Corporation, Koninklijke Philips N.V, Compumedics Limited, Croton Healthcare, Ricoh, Elekta AB, Integra LifeSciences, RAUMEDIC AG, Masimo, Cadwell® Industries Inc, Nonin, Neurosoft, Brain Scientific, and others.

Liquid Biopsy in Cancer Diagnostics Market 

The Global Liquid Biopsy in Cancer Diagnostics Market was valued at USD 6,953.15 million in 2020, growing at a CAGR of 16.64% during the forecast period from 2021 to 2026. The report delivers an in-depth understanding of Liquid Biopsy in Cancer Diagnostics Market historical and forecasted epidemiology as well as the market trends, market drivers & barriers, and key companies involved such as Myriad Genetics Inc, Exact Sciences Corporation, Biocartis, Sysmex Corporation, Thermo Fisher Scientific Inc, Biocept Inc, Agilent Technologies Inc, MDx Health, Neogenomics Laboratories, F. Hoffman La Roche Ltd, Guardant Health, Bio-Techne, Illumina Inc, and several others.

Cancer Diagnostic Market 

The Global Cancer Diagnostic Market was valued at USD 114.35 billion in 2020, growing at a CAGR of 9.43% during the forecast period from 2021 to 2026. The report delivers an in-depth understanding of Cancer Diagnostic Market historical and forecasted epidemiology as well as the market trends, market drivers & barriers, and key companies involved such as Pillar Biosciences, Hologic Inc, CD Genomics, Natera, Agendia Inc, Biodesix Inc, INOVIQ  Ltd, HTG Molecular Diagnostics Inc, Bio-Rad Laboratories, Inc, Koninklijke Philips N.V, FUJIFILM Holdings Corporation, Abbott, General Electric Company, and many others.

In-Vitro Diagnostics Market

Global In-Vitro Diagnostics Market was valued at USD 67.82 billion in 2020, growing at a CAGR of 4.17% during the forecast period from 2021 to 2026. The report delivers an in-depth understanding of In-Vitro diagnostics Market historical and forecasted epidemiology as well as the market trends, market drivers & barriers, and key companies involved such as Abbott, FUJIFILM Corporation, Sysmex Corporation, Siemens Healthcare GmbH, BD, Seegene Inc, Beckman Coulter, Inc ( Danaher Corporation), QIAGEN, bioMérieux SA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc, Cisbio (PerkinEemer), ARKRAY, Ortho Clinical Diagnostics, ACON Laboratories, and others.

Diagnostic Imaging Equipment Market

“DelveInsight’s ‘Diagnostic Imaging Equipment Market Insight, Competitive Landscape and Market Forecast, 2026’ report delivers an in-depth understanding of Diagnostic Imaging Equipment and the historical and forecasted Diagnostic Imaging Equipment market trends, market drivers & barriers, and key companies involved such as GE Healthcare, Canon Medical Systems Corporation, FUJIFILM Holdings Corporation, Hologic Corporation, Koninklijke Philips N.V, Siemens Healthineers, Samsung Electronics Co., and others.

Asthma Diagnostic Devices Market 

“DelveInsight’s ‘Asthma Diagnostic Devices Market Insight, Competitive Landscape and Market Forecast, 2026’ report delivers an in-depth understanding of Asthma Diagnostic Devices and the historical and forecasted Asthma Diagnostic Devices market trends, market drivers & barriers, and key companies involved such as Medline Industries, Becton, Dickinson and Company, Siemens Process Instrumentation, Smiths Medical, Vyaire Medical, Nihon Kohden Corporation, Vitalograph, Circassia Limited, Intermedical (UK) Limited, and many others.

Electrophysiology Diagnostic Catheters Market 

“DelveInsight’s ‘Electrophysiology Diagnostic Catheters Market Insight, Competitive Landscape and Market Forecast, 2026’ report delivers an in-depth understanding of Electrophysiology Diagnostic Catheters and the historical and forecasted Electrophysiology Diagnostic Catheters market trends, market drivers & barriers, and key companies involved such as Boston Scientific Corporation, Abbott, Medical Devices Business Services, Inc (Johnson &Johnson), Medtronic, Koninklijke Philips N.V., B. Braun Melsungen AG, Terumo Medical Corporation, Cardinal Health, and several others.

Interested to know more about the breakthrough happenings? Take a look at the posts below 

About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.  Get hassle-free access to all the healthcare and pharma market research reports through our subscription-based platform PharmDelve.

Connect With Us at LinkedIn | Facebook | Twitter