Molecular Diagnostics Market (2023-2030)
The Molecular Diagnostics Market is projected to reach $46.69 billion by 2030, at a CAGR of 5.6% from 2023 to 2030.
- Published
- Feb 2023
- Pages
- 327
- Format
- PDF + Excel
- Report ID
- MRHC - 104691
- Base year
- 2022
- 2030 · FORECAST
- $46.69B
- 2030
- $46.69B
- CAGR 2023–2030
- 5.6%
2022 baseline · 2023–2030 forecast at 5.6% CAGR · hover a bar for the value
Key highlights
In 2023, the Kits & Reagents Segment is Expected to Dominate the Molecular Diagnostics Market
In 2023, the Laboratory Tests Segment is Expected to Dominate the Molecular Diagnostics Market
In 2023, the Polymerase Chain Reaction (PCR) Segment is Expected to Dominate the Molecular Diagnostics Market
In 2023, the Infectious Diseases Segment is Expected to Dominate Molecular Diagnostics Market
In 2023, the Hospitals & Clinics Segment is Expected to Dominate Molecular Diagnostics Market
Asia-Pacific: Fastest-growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 46.69 billion |
| CAGR (2023–2030) | 5.6% |
| Format | PDF, Excel & Cloud Portal · 327 pages |
| Segments Covered | By Product & Service: Kits & Reagents, Instruments, Software & Services · By Test Type: Laboratory Tests, PoC Tests · By Technology: Polymerase Chain Reaction (PCR), In Situ Hybridization (ISH), Isothermal Nucleic Acid Amplification Technology (INAAT), Microarrays, Mass Spectrometry, Sequencing, Other Technologies · By Application: Infectious Diseases COVID-19, Hepatitis, HIV, Healthcare-associated Infections (HAIs), Chlamydia trachomatis/ Neisseria gonorrhoeae (CT/NG), Human papillomavirus (HPV), Tuberculosis, Influenza, Other Infectious Diseases, Breast Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer, Lymphoma · By End User: Hospitals & Clinics, Diagnostic Laboratories, Academic & Research Institutes, Other End Users · By Product: Reagent & Kits, Systems, Software |
| Countries Covered | Europe (RoE), Asia-Pacific (RoAPAC) |
| Key Companies | F. Hoffmann-La Roche Ltd, Hologic, Inc. (U.S.), QIAGEN N.V., Danaher Corporation (U.S.), Becton, Dickinson and Company (BD) (U.S.), Siemens Healthineers AG, DiaSorin S.p.A, Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Illumina, Inc. (U.S.), Seegene, Inc. |
Report overview
Segments covered: product & service, test type, technology, application, end user, product. Regions: Europe, Asia-Pacific.
The molecular diagnostics market comprises advanced products and technologies used by medical professionals for patient management, from diagnosis to treatment, primarily focusing on areas such as infectious disease and cancer.
The growth of this market is driven by the rising global geriatric population, the increasing prevalence of communicable & non-communicable diseases, technological advancements in molecular diagnostics, and rising healthcare expenditures. However, unfavorable regulatory frameworks and the high costs of molecular diagnostic tests restrain the growth of this market.
The COVID-19 pandemic had a positive impact on the molecular diagnostics market in terms of revenue. However, the diagnosis of other disorders was reduced during the initial phase of the pandemic, and the COVID-19 testing capabilities were increased to limit the spread of infection. Some of the initiatives are mentioned below:
In February 2022, the Ministry of Health and Family Welfare (Government of India) issued new guidelines for international travelers, wherein all travelers arriving from abroad were required to submit negative COVID-19 RT-PCR reports.
In December 2021, the U.S. Government made it mandatory for all incoming passengers to carry a negative COVID-19 test report or proof of recovery from the disease amidst the rising number of cases of the Omicron variant.
In March 2021, the U.K. Government made COVID-19 testing mandatory for all workplaces and businesses with over ten employees. The government also provided free testing kits as a part of its workplace testing program for businesses that cannot afford on-site testing kits. More than 60,000 businesses enrolled under this program for the on-site testing of their workers.
In December 2020, the French government launched a mass COVID-19 screening campaign in France to control the spread of the disease.
In October 2020, the Italian Health Ministry announced that rapid COVID-19 diagnostic tests would be conducted throughout the country to control the rising prevalence of COVID-19 infections.
Such initiatives positively impacted the demand for molecular diagnostics for COVID-19 during the pandemic.
Report infographic
Increase in Funding for R&D
The development of molecular diagnostic systems or assays requires significant capital investments. Thus, financial support in the form of funding is essential to develop and bring the technology into the market. Many molecular diagnostic devices that are in the developmental phase are being funded by various organizations. Below are some examples related to funding received by the companies that helped them focus on developing molecular diagnostics products.
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In August 2022, Nanopath Inc. (U.S.) raised USD 10 million in Series A funding, co-led by Norwest Venture Partners and Medtech Convergence Fund. The funds will be used to develop a point-of-care diagnostics platform for women’s health screenings.
- In December 2021, the global alliance for diagnosis named FIND (Switzerland) invested USD 21 million to accelerate the development, manufacturing, and launch of affordable, multi-pathogen, molecular diagnostic platforms, specifically for use in decentralized settings in low- and middle-income countries (LMICs).
- In October 2020, MultiplexDX International (U.S.) received funding for applied research on COVID-19/Influenza from the Slovak Research and Development Agency. The aim was to develop a high-throughput, sensitive RT-qPCR test and rapid, point-of-care RT-LAMP test to differentiate SARS-CoV-2 and influenza (CoV-INFect).
Table of contents
15 chapters · 126 sections · 327 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Product & Service | Kits & Reagents | — |
| By Test Type | Laboratory Tests | — |
| By Technology | Polymerase Chain Reaction (PCR) | — |
| By Application | Infectious Diseases | — |
| By End User | Hospitals & Clinics | — |
By Product & Service
- The kits & reagents segment is expected to account for the largest share of the molecular diagnostics market.
- Recurrent use of assays & kits in the detection of various diseases through molecular diagnostics, rise in product approvals, and technological advancements in molecular techniques contribute to the large market share of this segment.
By Test Type
- The laboratory tests segment is expected to account for the largest share of the molecular diagnostics market.
- Lab tests are traditionally used in hospitals and diagnostic centers and are widely accepted.
- These factors contribute to the large market share of this segment.
By Technology
- The polymerase chain reaction (PCR) segment is expected to account for the largest share of the molecular diagnostics market.
- The specificity and sensitivity of the instrument and the technological developments in various diagnostic applications contribute to this segment's large market share.
By Application
- The infectious diseases segment is expected to account for the largest share of the molecular diagnostics market.
- Infectious diseases are transmissible or communicable illnesses that spread quickly in some areas and become epidemics.
- It is crucial to quickly diagnose initial infections and prevent further spread through in vitro diagnosis.
- The growing prevalence of infectious diseases, the rising funds for infectious disease diagnostic research activities, and the sudden emergence of a pandemic are the factors attributed to the large market share of this segment.
By End User
- The hospitals & clinics segment is expected to account for the largest share of the molecular diagnostics market size.
- Factors attributing to this segment's share include increased hospitalizations due to various diseases, the rise in the geriatric population, and the high prevalence of healthcare-associated infections (HAIs).
Geographic analysis
Asia-Pacific
Fastest growthThe growth of this regional market is mainly driven by the rising prevalence of infectious & chronic diseases, the increasing number of hospitals and diagnostic laboratories, efforts to improve the accessibility of diagnostic services, and the growing demand for clinical testing. Asia-Pacific: Fastest-growing Regional Market
Competitive landscape
- F. Hoffmann-La Roche Ltd · Switzerland
- Hologic, Inc. (U.S.)
- QIAGEN N.V. · Netherlands
- Danaher Corporation (U.S.)
- Becton
- Dickinson and Company (BD) (U.S.)
- Siemens Healthineers AG · Germany
- DiaSorin S.p.A · Italy
- Abbott Laboratories (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Agilent Technologies, Inc. (U.S.)
- Illumina, Inc. (U.S.)
- Seegene, Inc. · South Korea
Frequently asked questions
The molecular diagnostics market focuses on advanced tools and technologies for the diagnosis and treatment of diseases like infectious diseases and cancer, providing precise and faster results for patient management.
Cite this report
Meticulous Research. (2023). Molecular Diagnostics Market - Global Opportunity Analysis And Industry Forecast (2023-2030) (Report No. MRHC - 104691). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/molecular-diagnostics-market-5375