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Redding, California - January 29, 2024

South East Asia Molecular Diagnostics Market to be Worth $891.87 Million by 2031

South East Asia Molecular Diagnostics Market by Offering (Reagents, Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (HIV, Influenza, HPV, Oncology, Gene Testing), End User - Forecast to 2031

Meticulous Research^®—a leading market research company, published a research report titled, ‘South East Asia Molecular Diagnostics Market by Offering (Reagents, Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (HIV, Influenza, HPV, Oncology, Gene Testing), End User - Forecast to 2031’

According to this latest publication from Meticulous Research^®, the South East Asia molecular diagnostics market is projected to reach $891.87 million by 2031, at a CAGR of 7.8% from 2024 to 2031. The growth of the South East Asia molecular diagnostics market is driven by several factors, including the rising geriatric population, increasing prevalence of communicable & non-communicable diseases, technological advancements in molecular diagnostics, and rising healthcare expenditure. Factors such as emerging medical tourism in South East Asian countries and increasing focus on companion diagnostics are a few opportunities that would help grow the market in the future. A shortage of skilled professionals could be considered a challenge for the South East Asia molecular diagnostics market. Moreover, the lack of harmonization of the medical device regulations across South East Asian countries and the high costs of molecular diagnostic tests restrain the growth of the market.

Key Players

The key players profiled in the South East Asia molecular diagnostics market report are Sansure Biotech, Inc. (China), F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Hologic, Inc. (U.S.), Illumina, Inc. (U.S.), Xiamen Zeesan Biotech Co., Ltd (China), QIAGEN N.V. (Netherlands), Danaher Corporation (U.S.), Abbott Laboratories (U.S), Agilent Technologies, Inc. (U.S.).

Geographic Review

The South East Asia molecular diagnostics market is segmented by Offering (Kits & Reagents, Instruments, Software & Services), Test Type (Laboratory Tests and Point-of-Care (POC) Tests), Technology (Polymerase Chain Reaction (PCR), In Situ Hybridization (ISH), Isothermal Nucleic Acid Amplification Technology (INAAT), Microarrays, Sequencing, Mass Spectrometry, and Other Technologies), Application (Infectious Diseases [Respiratory Diseases, Hepatitis, HIV, Chlamydia Trachomatis/Neisseria Gonorrhoeae, Human Papillomavirus (HPV), Healthcare-Associated Infections (HAIs), and Other Infectious Diseases], Oncology [Breast Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer, Lymphoma, Leukemia, Cervical Cancer, and Other Cancer Types], Genetic Testing, Neurological Diseases, Cardiovascular Diseases, and Other Applications), End User (Hospitals & Clinics, Diagnostic Laboratories, Academic & Research Institutes, and Other End Users). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Among offerings, in 2024, the kits and reagents segment is expected to account for the largest share of the market. The large share of the segment is attributed to the commercial availability of a diverse range of diagnostic reagents & consumables, the availability of diseases-specific test kits & assays, and the growing awareness regarding early disease diagnosis.

Among test types, in 2024, the laboratory test segment is expected to account for the largest share of the market. The large share of the segment is attributed to the large number of laboratory tests available in hospitals and laboratories, and the high preference for laboratory tests owing to the accuracy of the test results supports the largest share of the market.

Among technologies, in 2024, the polymerase chain reaction (PCR) segment is expected to account for the largest share of the market. The large share of the segment is attributed to benefits, such as the ability to test multi-drug resistance, its use in several laboratories and clinical techniques, including DNA fingerprinting, detection of bacteria or viruses (particularly AIDS), and diagnosis of genetic disorders. Improved PCR testing capabilities in the laboratories during the COVID-19 pandemic to manage the growing burden also supported the segment’s largest share.

Among applications, in 2024, the infectious diseases segment is expected to account for the largest share of the market. The large share of the segment is attributed to the rising prevalence of infectious diseases, the increase in funding for the development of new infectious disease diagnostic tools, and the emergence of the COVID-19 pandemic. According to the World Health Organization (WHO), in 2022, the largest number of tuberculosis (TB) cases occurred in the South-East Asian region, with a prevalence of 46%. The increasing prevalence of such infections and diseases leads to the increased demand for rapid, easy-to-use, and affordable infectious disease testing tools, therefore driving the growth of the segment.

Among end users, the hospitals & clinics segment is expected to account for the largest share of the market in 2024. The large share of the segment is attributed to the increased number of hospitalizations due to various diseases requiring molecular diagnosis and the proliferation of hospitals and clinics in emerging countries, leading to the growth in the utilization of molecular diagnostic products. The emergence of new hospitals in South East Asian countries is leading to the growing demand for molecular diagnostic tests. For instance, in March 2023, Adventist Hospital was launched in Palangka Raya, Central Kalimantan, Indonesia, which is a 51-bed, state-of-the-art hospital that offers general medicine, surgery, obstetrics and gynecology, pediatrics, and critical care services to the inhabitants of Palangka Raya and nearby communities. This not only increases the demand for molecular tests but also provides these advanced technologies to people living in rural areas.

Among geographies, in 2024, Indonesia is expected to account for the largest share of the market. The large share of the segment is attributed to the increasing prevalence of communicable & non-communicable diseases, growing adoption of molecular diagnostics, increasing prevalence of cancer and musculoskeletal diseases, rising disposable income, improvements in the healthcare infrastructure, and the growing healthcare expenditure. The increasing prevalence of diseases is driving the need for better healthcare options among patients. In such cases, increasing healthcare expenditure can help increase people’s access to healthcare and improve the quality of care. For instance, the healthcare expenditure in Indonesia increased from USD 8.07 billion in 2019 to USD 17.62 billion in 2022.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5775

Key questions answered in the report:

Which are the high-growth market segments in terms of molecular diagnostics in South East Asia by offering, test type, technology, application, end user, and geography?
What was the historical market for molecular diagnostics across South East Asia?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the South East Asia molecular diagnostics market?
Who are the major players in the South East Asia molecular diagnostics market?
What is the competitive landscape like, and who are the market leaders in the South East Asia molecular diagnostics market?
What are the recent developments in the South East Asia molecular diagnostics market?
What are the different strategies adopted by the major players in the South East Asia molecular diagnostics market?
What are the geographical trends and high-growth regions/countries?

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Redding, California - January 29, 2024

South East Asia Molecular Diagnostics Market to be Worth $891.87 Million by 2031

South East Asia Molecular Diagnostics Market by Offering (Reagents, Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (HIV, Influenza, HPV, Oncology, Gene Testing), End User - Forecast to 2031

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