The global molecular diagnostics market size was valued at USD 36.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2021 to 2028. GLOBAL PCR MARKET FOR MOLECULAR DIAGNOSTICS, BY GEOGRAPHY, 2016-2023 ($MILLION)TABLE 13. Middle East market size and forecast8.5.6. Business performance9.6.4. Global Molecular Diagnostics Market to Reach $20 Billion by 2027 Amid the COVID-19 crisis, the global market for Molecular Diagnostics estimated at US$10.4 Billion in the year 2020, is projected to reach a revised size of US$20 Billion by 2027, growing at a CAGR of 9.8% over the analysis period 2020-2027. The rising prevalence of infectious diseases, the occurrence of various types of cancer, along with scientific advancements in molecular test methods . Description. This test could also help in detecting and quantifying the presence . Global molecular diagnostics market is projected to reach USD80.45 billion by 2026, growing at CAGR of 2.98% through 2026, owing to increasing geriatric population and rising cases of infectious . DANAHER CORP. - REVENUE, BY PRODUCT CATEGORY, 2016 (%)FIGURE 35. The market analysis includes a chapter solely dedicated for key players operating in the Global Oncology Molecular Diagnostics Market wherein the analysis provide an insight of the business overview, financial statements, product overview, and the strategic initiatives adopted by the market players. Players such as Roche are using a partnership strategy to enhance product capabilities and promote their product offerings. For instance, in March 2020, Abbott received Emergency Use Authorization (EUA) for RealTime SARS-CoV-2 EUA tests to be used on the m2000 RealTime System. The report "Molecular Diagnostics Market by Product & Service(Reagents, Kits, PoC & Tabletop Instruments), Application(COVID-19, Hepatitis, HAI, HIV, Oncology, Genetic Tests), Technology (PCR, NGS, ISH), End User (Hospitals, Diagnostic Labs)-Global Forecast to 2026" The global molecular diagnostics market size is projected to reach USD 31.8 billion by 2026 from USD 17.8 billion in 2021, at a . Industry Trends. This is attributed to the rising epidemiology of infectious as well as chronic diseases, thus encouraging the R&D activities, thereby boosting the market growth. QIAGEN N.V.: REVENUE, BY GEOGRAPHY, 2016 (%). MEXICO: MOLECULAR DIAGNOSTICS MARKET, 2016-2023 ($MILLION)FIGURE 11. Global molecular diagnostics point of care market share 2018 vs. 2029, by product Global rare disease diagnostics market share by end user 2018 and 2025 Cell-free DNA based cancer diagnostic and . MOLECULAR DIAGNOSTICS: MARKET SEGMENTATIONFIGURE 2. b. Write us on help@alliedmarketresearch.com, Sales related queries? In addition, the geriatric population is more likely to suffer from COVID-19 due to decreased immune function, multimorbidity, and physiological changes associated with aging. It is anticipated to develop at a substantial CAGR for the duration of the prediction. Key strategic moves & developments, 9.5.1. Aging increases the risk of getting numerous diseases including cancer, cardiovascular diseases, neurological disorders, obesity, and diabetes. NORTH AMERICA: MOLECULAR DIAGNOSTICS MARKET, BY TYPE, 2016-2023 ($MILLION)TABLE 25. CHINA: MOLECULAR DIAGNOSTICS MARKET, 2016-2023 ($MILLION)FIGURE 19. An overview of the global market for molecular diagnostics. All Rights Reserved, Author(s) : Archana Kamble & Shubhangi Bawkar, 3.5.1.1. Molecular Diagnostics Market size be at Forefront size 2021. GLOBAL OTHER TECHNIQUES MARKET FOR MOLECULAR DIAGNOSTICS, BY GEOGRAPHY, 2016-2023 ($MILLION)TABLE 18. The PCR Molecular Diagnostics Market is expected to register a CAGR of nearly 3.5% during the forecast period. MOLECULAR DIAGNOSTICS: MARKET SEGMENTATION, Isothermal Nucleic Acid Amplification Technology (inaat). The central laboratories segment dominated the market for molecular diagnostics and accounted for the largest revenue share of 85.7% in 2020. b. Complimentary 10 hours free analyst time for market review, 3. Global Molecular Diagnostics Market Size, Share, T . In addition, the number of individuals aged 80 years and above is projected to increase threefold, from 137 million in 2017 to 425 million by 2050. page 1 It is anticipated to grow at a significant rate in upcoming years owing to its wide adoption in research and clinical settings. However, the DNA sequencing and NGS segments are projected to register the highest growth rate during the forecast period. Molecular diagnostics are able to provide the exact measurements that are needed to inform providers of the information that is needed at every stage of care. The availability of a wide range of reagents and kits has driven the growth of this segment. Based on application, it is divided into infectious diseases, oncology, genetic testing, blood screening, and others (Microbiology, neurological diseases, and cardiovascular diseases). Sequencing technologies for the molecular diagnostics market include DNA sequencing processes and emerging NGS technologies, such as sequencing platforms and RNA sequencing. By Satyam on November 4, 2021. GLOBAL MOLECULAR DIAGNOSTICS MARKET, BY TYPE, 2016-2023 ($MILLION), FIGURE 1. A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global molecular diagnostics market was worth USD 15.29 billion in 2020 and is further projected to reach USD 31.98 billion by 2027, at a CAGR of 11.1% during the forecast period (2021-2027). Increasing demand for North American diagnosis, North America is dominated in the molecular diagnostic market due to well-established infrastructure, government initiatives. Your Details are Submited Successfully...!! QIAGEN N.V.- TOTAL REVENUE, 2014-2016 ($MILLION)FIGURE 52. GLOBAL MOLECULAR DIAGNOSTICS MARKET FOR HOSPITALS, BY GEOGRAPHY, 2016-2023 ($MILLION)TABLE 20. Rapid technological advancements leading to accurate results, portability, and cost-effectiveness are expected to be a high-impact rendering driver of the market for molecular diagnostics. Get insights on topics that are crucial for your business. ROCHE DIAGNOSTICS - REVENUE, BY PRODUCT CATEGORY, 2016 (%)FIGURE 47. LATIN AMERICA: MOLECULAR DIAGNOSTICS MARKET, 2016-2023 ($MILLION)FIGURE 22. Furthermore, the growing use of instruments to detect coronavirus, which were earlier developed for other infectious diseases, is anticipated to boost the growth of the market for molecular diagnostics. Top investment pockets, 3.3. Now hospitals have more funding and are expected to provide quality healthcare, and thus there is a more advanced technology for molecular diagnosis. Free upgrade to enterprise license (allows to share across all company locations), 5. *Taxes/Fees, if applicable will be added during checkout. Therefore, various companies are designing assays and molecular diagnostic platforms for POC or near-patient testing. There is an increase in the incidence of chronic diseases, such as tuberculosis (TB), cancer, cardiovascular diseases, and diabetes. Molecular diagnostics market is estimated to project a sound CAGR of 11.6% from 2016 to 2025. In addition, partnership between pharmaceutical companies with diagnostic firms . Key strategic moves & developments, 9.10.1. U.S.: MOLECULAR DIAGNOSTICS MARKET, 2016-2023 ($MILLION)FIGURE 9. b. Molecular diagnostic tests are used to detect specific sequences in DNA or RNA, including single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others to further diagnose the disease. We are monitoring the impact of COVID-19 on Molecular Diagnostics Market, Get in touch with us for detailed analysis, Additionally, factors such as an increase in the prevalence of infectious diseases and various types of cancer, an increase in awareness and acceptance of. Molecular Diagnostics Market Size And Forecast. ITALY: MOLECULAR DIAGNOSTICS MARKET, 2016-2023 ($MILLION)FIGURE 15. KEY BENEFITS1.2. Based on technology, it is categorized into polymerase chain reaction (PCR), hybridization, DNA sequencing, microarray, isothermal nucleic acid amplification technology (INAAT), and others (electrophoresis, mass spectroscopy, and flow cytometry). Molecular diagnostics often provide quantitative measurements that inform every stage of care and enable successful management of health conditions. DO YOU HAVE SPECIFIC REQUIREMENTS? GLOBAL INAAT MARKET FOR MOLECULAR DIAGNOSTICS, BY GEOGRAPHY, 2016-2023 ($MILLION)TABLE 17. POLYMERASE CHAIN REACTION (PCR), 6.6. Market size and forecast, 4.3.1. Avail customized purchase options to meet your exact research needs. Privacy Policy. GLOBAL MOLECULAR DIAGNOSTICS MARKET FOR OTHER APPLICATIONS, BY GEOGRAPHY, 2016-2023 ($MILLION)TABLE 11. Rising demand for Point-of-Care (PoC) testing is attributable to government support, demand for self-testing diagnostics, and rising consumer awareness about faster diagnostics. For instance, in July 2019, F. Hoffmann-La Roche Ltd expanded its Global Access Program beyond HIV and included HPV and other infectious diseases to enhance access to early detection and diagnostics for low and middle-income countries. The global molecular diagnostics market is expected to witness a compound annual growth rate of 3.9% from 2021 to 2028 to reach USD 49.25 billion by 2028. b. Free report customization (equivalent up to 8 analysts working days) with purchase. "The quality of research they have done for us has been excellent...". Growth in the global market is set to be driven by continued shift from the traditional tests towards the new tests, increasing applications in . Operating business segments9.5.3. This market is projected to continue doing so during the forecast period. Latin America: market size and forecast8.5.5. It is anticipated to grow at a significant rate in coming years owing to its wide adoption in research and clinical settings. Business performance9.2.4. ABBOTT LABORATORIES, INC.: COMPANY SNAPSHOTTABLE 44. BIOMRIEUX SA- TOTAL REVENUE, 2014-2016 ($MILLION)FIGURE 28. Key market trends8.4.2. France market size and forecast8.3.6. Roche Diagnostics Middle East (RDME) has entered into partnerships with several laboratories to achieve improved performance in terms of product safety, efficacy, and sustainability. Increased use of molecular diagnostics in pre clinical development and approval of drugs for therapeutics and diagnosis purpose. Canada: market size and forecast8.2.6. Furthermore, more than 50% of deaths occurred in patients aged 80 years or older. LAMEA: MOLECULAR DIAGNOSTICS MARKET, BY TYPE, 2016-2023 ($MILLION)TABLE 40. Europe Molecular Diagnostics Market Size & Forecast Report, 2013 - 2024. Progress in technology and increasing awareness of the early illness, Advances in molecular diagnostic testing will continue to increase the precision and speed at which microbial pathogens can be identified. BIOMRIEUX SA - REVENUE, BY PRODUCT CATEGORY, 2016 (%)FIGURE 29. UK: market size and forecast8.3.7. Easy accessibility to a wide range of reagents is the primary factor supporting the growth of the molecular diagnostic reagents and kits market. Overview9.5.2. We never share your personal data. Analysis of individual drug responses helps gain insights into the correlation between nucleotide polymorphism and drug metabolism. Molecular diagnostics tools have benefited the clinical setting . Key market trends8.3.2. According to WHO estimates, 38.0 million individuals across the globe were living with HIV infection in 2019. However, the infection of other respiratory viruses during low influenza activity and outside of outbreak is an influenza-like illness (ILI), rhinovirus, respiratory syncytial virus, parainfluenza, and adenovirus may also occur, making it difficult to identify influenza from other pathogens clinically. Manufacturers are required to update their products in terms of specificity, accuracy, and other parameters in order to gain a competitive edge. The European region is expected to grow at the third-highest rate, mainly due to an increase in the geriatric population and improving healthcare services quality.
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