Current projections of molecular diagnostic market indicate an estimation of US60,347.40 million by 2034, climbing up from US39,611.00 million in 2024. After an exhaustive assessment of the market, a moderate CAGR of 4.30% is envisaged through 2034.
The increment in the geriatric population and an elevation in the stimulation of various diseases has led to the DNA diagnostic market growth. Diseases like cancer, cardiovascular diseases, diabetes, and obesity, linked to the soaring geriatric population strengthen the molecular pathology market growth. A surge in the incidence of contagious diseases compels the biomolecular diagnostics market growth.
| Attributes | Details |
|---|---|
| Molecular Diagnostics Market Value for 2024 | USD 39,611.00 million |
| Forecast Market Value for 2034 | USD 60,347.40 million |
| CAGR from 2024 to 2034 | 4.30% |
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There is an amplifying need for early cancer diagnosis due to the escalating number of cancer patients. An essential factor in the early tests of cancer is molecular diagnostics. Early detection of cancer-related biomarkers using these diagnostics facilitates doctors to diagnose cancer disease even before symptoms appear, which permits an earlier start of therapy.
Cancer remains the primary reason for sickness and death globally. As the number of cancer cases augments, so does the need for precise and accurate diagnostic methods. It is noted that this factor acts as a market driver.
| Attributes | Details |
|---|---|
| Market Value for 2019 | USD 29,335.60 million |
| Market Value for 2023 | USD 38,720.40 million |
| CAGR from 2019 to 2023 | 5.40% |
Alternative diagnostic approaches are well-established and widely used in the medical community, such as conventional laboratory testing. It is stressful for molecular diagnostics to acquire market share when they are up against these established techniques.
This type of diagnostic is costlier than some traditional diagnostic techniques since they frequently require specialized technologies.
The cost issue restrains them from wide adoption, particularly in environments with limited resources where medical facilities do not have the money to purchase pricey molecular diagnostic equipment. The molecular diagnostic market is negatively impacted by the presence of substitute testing techniques.
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The segmented molecular diagnostic market analysis is comprised in the preceding subsection. Based on extensive reports, the reagents and kits sector are dominating the product category. Correspondingly, the polymerase chain reaction (PCR) segment is ruling the technology category.
| Top Product | Reagents and Kits |
|---|---|
| Market Share (2024) | 64.40% |
The reagent and kits segment had the predominant market share through 2034. The revenue share of the reagent and kits segment retained its dominance between 2024 and 2034.
The reagent and kits segment are augmented owing to its broad adoption in many research and clinical settings. Due to the result standardization, enhanced efficiency, and the economic nature of the reagent and kits segment, it supports the growth of the market.
| Top Technology | Polymerase Chain Reaction (PCR) |
|---|---|
| Market Share (2024) | 38.70% |
PCR assays are frequently used in clinical settings and are known to yield accurate findings, which gives medical personnel greater confidence. The automation potential of PCR improves throughput, streamlines laboratory procedures, and lowers operating expenses. PCR technology constantly evolves to provide scalability and adaptation to new diagnostic difficulties.
The molecular diagnostic market can be observed in the subsequent tables, which focus on the leading regions in North America, Europe, and Asia Pacific. An exhaustive assessment reflects that Asia Pacific has enormous market opportunities for molecular diagnostic.
Analysis of Molecular Testing Industry in Asia Pacific
| Countries | CAGR (2024 to 2034) |
|---|---|
| India | 5.90% |
| Thailand | 4.70% |
| Malaysia | 4.30% |
| Indonesia | 3.90% |
The healthcare industry in India is acquiring molecular diagnostics due to the spurring frequency of chronic diseases. Government programs proliferating the construction of healthcare infrastructure develop nucleic acid testing market expansion in India. India is at the forefront of the progression of novel diagnostic technologies through augmented spending on research and development.
A favorable environment is generated by Thailand's proactive regulatory framework for the advancement and promotion of molecular diagnostic tools. Thailand is witnessing a rapid boom in the adoption of molecular diagnostics due to escalated awareness of early disease identification.
Vendors looking to mushroom in the Asia Pacific region choose Malaysia as a base due to its advantageous geographic position and well-established infrastructure. The adoption in Malaysia is intensified by flourishing healthcare costs and a concentration on preventative treatment.
Indonesia's nucleic acid testing market is prospering because of government expenses on infrastructure and healthcare technology. These diagnostics are progressively prominent in Indonesia as people become more cognizant of the advantages of early disease detection.
Trends In the Molecular Diagnostics Market in North America
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 2.20% |
| Canada | 3.80% |
Boosting healthcare spending and a greater focus on preventative healthcare intensify the growth of the molecular diagnostic industry in the United States. Next-generation sequencing (NGS) technology adoption is escalating swiftly, advancing therapy alternatives and diagnostic precision in the United States.
Access to molecular diagnostic tests is amplified by Canada's universal healthcare system, which ramps up early disease identification and individualized treatment plans. The spurring patient and healthcare professional knowledge of the advantages of molecular diagnostics is triggering market growth in Canada.
Overview of Molecular Pathology Market in Europe
| Countries | CAGR (2024 to 2034) |
|---|---|
| France | 4.30% |
| Italy | 3.80% |
| Spain | 3.40% |
| Germany | 2.90% |
| United Kingdom | 2.70% |
Investments in genomic research and precision medicine schemes escalate its adoption in France. The adoption of molecular diagnostic testing is made possible by France's prevalent healthcare system in urban and rural locations.
Owing to government financing for research and development projects, Germany paves the way for evolving novel molecular diagnostic solutions. The proliferating awareness of the function of genetic testing in illness management is augmenting Germany's market expansion in fields like oncology and uncommon disorders.
The adoption of molecular diagnostic tests for infectious diseases is a significant stimulus in the Italy market growth. Italian healthcare providers and patients have flourished in the adoption of these diagnostic tests due to the emphasis on proactive disease management and preventative healthcare.
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Competitive awareness is vital for developing lucrative business strategies in the swiftly transitioning field of molecular diagnostics. For vendors to succeed, it is essential to comprehend the competitive landscape, technology developments, and regulatory dynamics.
Producers must constantly assess the competitive scenario to spot new trends and potential roadblocks in order to stay ahead of the evolution in the market.
Diagnostic providers improve their product development and marketing strategies by thoroughly analyzing the strengths and restraints of their competitors and using customer data. The widened market reach and approach to complementary technologies are obtained through strategic partnerships and collaborations with major manufacturers.
Notable Advancements
| Company | Details |
|---|---|
| Illumina | In January 2024, Illumina partnered with Janssen to create a molecular residual disease liquid biopsy test. The company aims to escalate a cost-effective whole-genome sequencing multi-cancer test to identify ctDNA |
| Co-Diagnostics, Inc. | Co-Diagnostics, Inc. acquired an investment of 8.97 million from the Bill & Melinda Gates Foundation to evolve a novel tuberculosis test in November 2023 to be run on the Co-Dx PCR platform. |
| T2 Biosystems | In July 2023, T2 Biosystems got the Breakthrough Device designation from the USA FDA for its C. Auris direct-from-blood molecular diagnostic test. |
| F. Hoffmann-La Roche Ltd. | In March 2023, F. Hoffmann-La Roche Ltd. and Lilly signed a partnership agreement to enhance early Alzheimer’s disease detection. |
| Thermo Fisher Scientific Inc | Thermo Fisher Scientific Inc. collaborated with MyLab to secure RT-PCR kits for various infectious diseases in February 2023. |
| F. Hoffmann-La Roche Ltd. | In 2021, F. Hoffmann-La Roche Ltd. declared that it acquired TIB Molbiol to add a variety of assays for infectious diseases to its upsurging array of PCR tests. |
| Hologic, Inc. | Mobidiag Oy, an innovator in acute care molecular diagnostic testing, was bought by Hologic, Inc. The acquisition, completed in 2021, assisted Hologic in spurring the product portfolio it caters to specific diagnostics. |
| Becton Dickinson And Company | Becton, Dickinson, and Company announced extending its BD COR system to include MX instruments in December 2021 for high-throughput molecular testing of infectious diseases. |
The market to procure a valuation USD 39,611.00 million in 2024.
The market is set to attain a worth of USD 60,347.40 million by 2034.
The market implies a moderate CAGR of 4.30% from 2024 to 2034.
From 2019 to 2023, the market exhibited a steady HCAGR of 5.40%.
The reagents and kits segment has the potential to grab a market share of 64.40% in 2024.
The polymerase chain reaction (PCR) segment is expected to retain molecular assay market share of 38.70% in 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Reagents and Kits 5.2. Instruments 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component 6.1. Service 6.2. Software 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology 7.1. Polymerase Chain Reaction (PCR) 7.2. Isothermal Nucleic Acid Amplification Technology (INNAT) 7.3. DNA Sequencing and Next-Generation Sequencing (NGS) 7.4. In Situ Hybridization (ISH) 7.5. DNA Microarrays 7.6. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 8.1. Infectious Disease Diagnostics 8.2. Oncology Testing 8.3. Genetic Testing 8.4. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 9.1. Diagnostic Laboratories 9.2. Hospitals and Clinics 9.3. Others 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. ABBOTT LABORATORIES 20.2. Agilent Technologies Inc. 20.3. BECTON DICKINSON AND COMPANY 20.4. BIOMERIEUX SA 20.5. DANAHER CORPORATION 20.6. F. HOFFMAN LA-ROCHE LTD. 20.7. GRIFOLS S.A. 20.8. HOLOGIC INC. 20.9. QIAGEN INC. 20.10. SIEMENS AG (SIEMENS HEALTHINEERS) 21. Assumptions & Acronyms Used 22. Research Methodology
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Molecular Diagnostic Market
