Molecular Diagnostics Services Market Assessment & Opportunity Forecast till 2030

Molecular Diagnostics Services Market Size – USD 15.74 Billion in 2020, Market Growth – at a CAGR of 12.4%, Market Trends – High demand for point-of-care testing

The global Molecular Diagnostics Services market size is expected to reach USD 50.94 Billion in 2030 and register a revenue CAGR of 12.4% over the forecast period, according to the latest report by Reports and Data. Government initiatives to promote molecular testing, increasing geriatric population, and rising cases of various infectious diseases across the world are key factors boosting global market revenue growth.

Increased investment in Molecular Diagnostics Services Research Development (RD) for development of advanced tools and methods for early diagnosis of cancer and other diseases is driving growth of molecular diagnostic market. Increase in funding by government across the globe for development of advanced testing kits instruments and infrastructural developments in healthcare sector are further supporting market revenue growth. With the ability to identify specific genetic variations in patients, Molecular Diagnostics Services represents an invaluable tool kit for current health professionals who can chart highly individualized treatment plans for their patients. Therefore, molecular diagnostic techniques have gained rapid traction over the last few years and are widely used in laboratories, research institutes, and hospitals for various purposes.

Testing and screening operations are becoming advanced as Molecular Diagnostics Services are being utilized broadly for amplification and discovery purposes. Increasing adoption of self-testing kits is fueling growth of the market. However, many hospitals and reference laboratories in developing countries find it difficult to afford costly instruments kits. This is expected to hamper global market growth in the coming years.

Some Key Highlights from the Report

  • In November 2021, Hoffmann-La Roche, a Switzerland-based company, launched cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark. It is built upon the innovation of the cobas® 6800 and cobas® 8800 systems, making molecular testing accessible to more patients around the world.
  • In 2020 reagents kits segment accounted for largest revenue share. Increasing investments by market players to develop improved and effective kits to cater to rising diseases and high demand for reagents kits in research, clinical laboratories, and hospitals are fueling segment revenue growth.
  • Polymerase chain reaction (PCR) segment revenue is expected to register significant growth rate over the forecast period because of increasing usage of PCR in proteomics and genomics, automation of PCR instruments, and emergence of advanced technologies such as qRT-PCR.
  • Infectious disease segment accounted for largest revenue share in 2020. As prevalence of infectious diseases worldwide is rising, need for early detection and treatment of these diseases is also increasing, which is boosting demand for molecular diagnostic kits.
  • Diagnostic laboratories segment revenue is expected to register high growth rate during the forecast period due to constantly rising demand for molecular diagnostic tests to detect infectious diseases and cancer.
  • Market in Asia Pacific is expected to register high revenue growth rate during the forecast period. Rapid revenue growth is attributed to growing awareness about early detection of disease, high patient pool, rapid developments in healthcare infrastructure and facilities, and ongoing research on diagnostic procedures.

In-depth Study of the Competitive Landscape:

The global Disposable Gloves market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers acquisitions, joint ventures, collaborations, partnerships and agreements, to build on their market presence.

Top companies profiled in the report include:

Abbott, F. Hoffmann-La Roche Ltd, QIAGEN, Danaher, Hologic Inc., Becton Dickinson and Co (BD), Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc., and Cepheid.

Key Market Regions Covered in the Report:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Product Services Outlook (Revenue, USD Billion; 2018–2030)

  • Reagents Kits
  • Instruments
  • Services Software

Technology Outlook (Revenue, USD Billion; 2018–2030)

  • Polymerase Chain Reaction (PCR)
  • Isothermal Nucleic Acid Amplification Technology
  • DNA Sequencing Next-generation Sequencing (NGS)
  • In Situ Hybridization
  • DNA Microarray
  • Other Technologies

Application Outlook (Revenue, USD Billion; 2018–2030)

  • Infectious Diseases
    • Hepatitis
    • Human Immunodeficiency Virus (HIV)
    • Chlamydia Trachomatis / Neisseria Gonorrhoeae(CT/NG)
    • Healthcare-associated Infections (HAIS)
    • Human Papillomavirus (HPV)
    • Tuberculosis
    • Influenza
    • Other Infectious Diseases
  • Oncology
    • Breast Cancer
    • Colorectal Cancer
    • Lung Cancer
    • Prostate Cancer
    • Other Cancers
  • Genetic Tests
  • Other Tests

End-use Outlook (Revenue, USD Billion; 2018–2030)

  • Hospitals
  • Diagnostic Laboratories
  • Others

Frequently asked questions addressed in the report:

  • What is the revenue growth rate of the global Disposable Gloves market over the forecast period?
  • What are the major factors driving the growth of the Global Disposable Gloves Market?
  • What are the key challenges impacting the global Disposable Gloves market growth?
  • What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

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