Molecular Respiratory Panels Market

Molecular Respiratory Panels Market Outlook (2023 to 2033)

The molecular respiratory panels market size is projected to be worth USD 1.1 billion in 2023. The market is likely to surpass USD 2.0 billion by 2033 at a CAGR of 6.3% during the forecast period.

The rising incidence of respiratory infections, including viral outbreaks such as influenza and the COVID-19 pandemic, is a major driving force behind the demand for molecular respiratory panels’. These panels’ offer rapid and accurate diagnosis, enabling timely treatment and infection control measures.

Other Drivers Propelling the Demand for Molecular Respiratory Panels Market include:

• The rising frequency of respiratory disorders caused by viruses and bacteria is predicted to drive the worldwide respiratory pathogen testing market forward. Moreover, the commercial availability of enhanced diagnostic tests for respiratory infections is a critical factor that will drive the growth of the worldwide molecular respiratory panel market.
• Various awareness programs, such as environmental programs, medication maintenance programs, for the general public and healthcare professionals, are expected to increase market for the global molecular respiratory panel market over the forecast period.
• Due to their capacity to provide speedy findings at the patient's bedside or in decentralized healthcare settings, point-of-care molecular respiratory panels’ are gaining appeal.

Challenges for Companies /Manufacturers in the Molecular Respiratory Panels Market:

• The expensive cost of equipment, reagents, and maintenance may limit their use, particularly in resource-constrained environments.
• Since certain viruses have a high mutation rate, mutations within PCR primer regions of the viral genome might cause the virus to elude detection by this test.
• Compliance with regulatory norms, such as obtaining necessary permits and certificates, may be time-consuming and costly. To ensure the reliability and reproducibility of PCR panel results, quality assurance and quality control processes must be followed.

Opportunities in the Molecular Respiratory Panels Market Industry:

• The increasing prevalence of respiratory illnesses, such as seasonal flu, pneumonia, and new viral epidemics, creates a substantial potential for molecular respiratory panels’. These panels’ can help in the early detection and treatment of respiratory infections.
• Diagnostic tests that deliver speedy and precise findings are in high demand. Molecular respiratory panels’ identify respiratory infections quickly and reliably, allowing for fast diagnosis and treatment options.
• Infection control measures have risen to the top of the priority list in healthcare environments. Molecular respiratory panels’ allow for the early detection of respiratory pathogens, allowing for the quick adoption of infection control strategies and reducing illness transmission.

Latest Trends in the Molecular Respiratory Panels Market:

• Syndromic testing, which involves the simultaneous identification of numerous pathogens, is quickly becoming a routine strategy in the diagnosis of respiratory infections. Molecular respiratory panels’ are an important component of syndromic testing, and the move towards comprehensive testing is pushing their use.
• In clinical trials, biomarker testing, including the use of PCR panels’, is becoming more widespread. This pattern demonstrates the growing importance of biomarker-guided drugs and personalized medicine strategies.
• The identification of new targetable mutations in lung cancer is an ongoing development. These novel mutations are being included into PCR panels’, which offer clinicians with vital information for treatment decision-making.

Attributes	Details
Molecular Respiratory Panels Market Size (2023)	USD 1.1 billion
Molecular Respiratory Panels Market Projected Size (2033)	USD 2.0 billion
Value CAGR (2023 to 2033)	6.3%

2017 to 2022 Molecular Respiratory Panels Market Demand Outlook Compared to 2023 to 2033 Forecast

From 2017 to 2022, the global molecular respiratory panels’ market experienced a CAGR of 9.2%, reaching a market size of USD 1.1 million in 2023.

From 2017 to 2022, the global molecular respiratory panels’’ market industry witnessed steady growth due to the increased prevalence of respiratory illnesses and technological advancements. Significant advances in molecular diagnostic technology have occurred throughout the years, including the creation of polymerase chain reaction (PCR) and other nucleic acid amplification techniques. These technological improvements have enhanced the sensitivity, specificity, and multiplexing capabilities of molecular respiratory panels’, which has contributed to the growth of the market.

Respiratory diseases, such as influenza, respiratory syncytial virus (RSV), and other respiratory pathogens, have long been a source of worry across the world. The growing prevalence of these illnesses has increased need for reliable and speedy diagnostic tests, propelling the molecular respiratory panels’ market forward.

Future Forecast for Molecular Respiratory Panels Market Industry:

Looking ahead, the global molecular respiratory panels’’ market industry is expected to rise at a CAGR of 6.3% from 2023 to 2033. During the forecast period, the market size is expected to reach USD 2.0 billion by 2033.

The molecular respiratory panels’’ market industry is expected to continue its growth trajectory from 2023 to 2033. As the benefits and capabilities of molecular respiratory panels’ become more generally recognized, healthcare practitioners are likely to become more aware and employ them. The requirement for accurate and quick diagnosis, as well as infection management and monitoring, will drive the expansion of the molecular respiratory panel market.

The requirement for quick results and decentralized testing will push the need for point-of-care testing to expand further. Molecular respiratory panels’ that may be conducted at the point of treatment, such as in clinics or emergency rooms, are expected to acquire market traction.

Country-Wise Insights

Molecular Respiratory Panels Market to Surge in the United States Due to Rising Prevalence of Respiratory Disorders.

Country	The United States
Market Size (USD Million) by End of Forecast Period (2033)	USD 575.6 million
CAGR % 2023 to End of Forecast (2033)	7.0%

The molecular respiratory panels’’ market industry in the United States is expected to reach a market size of USD 575.6 million by 2033, expanding at a CAGR of 7.0%. The incidence of chronic respiratory disorders in the nation is increasing, which is driving up demand for the industry. For instance, the USA Centers for Disease Control and Prevention (CDC) 2022 report showed that in 8 out of 10 public health districts in the USA, the prevalence of respiratory syncytial virus (RSV) is rising.

Rising Demand for Molecular Respiratory Panels Market is Due to the Growing Increasing Awareness and Screening Programs.

Country	The United Kingdom
Market Size (USD Million) by End of Forecast Period (2033)	USD 73.6 million
CAGR % 2023 to End of Forecast (2033)	5.3%

The molecular respiratory panels’’ market industry in the United Kingdom is expected to reach a market share of USD 73.6 million, expanding at a CAGR of 5.3% during the forecast period. Strict laws for the mining sector increase the usage of the molecular respiratory panels’. In the EU there are around 53,000 people employed by coal power stations. The EU’s regulatory body also conducts routine checkups of these workers, which boosts demand for molecular respiratory panels’.

Notable Growth Expected in China's Molecular Respiratory Panels Market as Increasing Prevalence of Respiratory Illnesses.

Country	China
Market Size (USD Million) by End of Forecast Period (2033)	USD 180.6 million
CAGR % 2023 to End of Forecast (2033)	7.7%

The molecular respiratory panels’’ market industry in China is anticipated to reach a market size of USD 180.6 million, moving at a CAGR of 7.7% during the forecast period. The molecular respiratory panel’s market industry in China is expected to grow prominently due to the increasing population with respiratory illness. China has a big population, and respiratory illnesses such as influenza, Respiratory syncytial (RSV), and other respiratory pathogens are common. The rising prevalence of these illnesses is raising the requirement for precise and effective diagnostic techniques such as molecular respiratory panels’.

High Geriatric Population to Drive Market Growth in Japan

Country	Japan
Market Size (USD Million) by End of Forecast Period (2033)	USD 126.0 million
CAGR % 2023 to End of Forecast (2033)	7.4%

The molecular respiratory panels’ market industry in Japan is estimated to reach a market size of USD 126.0 million by 2033, thriving at a CAGR of 7.4%. The market in Japan is predicted to grow because of high geriatric population. Japan has one of the world's oldest populations, and respiratory illnesses such as pneumonia and influenza are widespread among the elderly. The growing older population in Japan, as well as the requirement for precise respiratory illness detection, are projected to boost demand for molecular respiratory panels.

Demand for Molecular Respiratory Panels Market is Rising Due to High Awareness of Respiratory Infections.

Country	South Korea
Market Size (USD Million) by End of Forecast Period (2033)	USD 49.3 million
CAGR % 2023 to End of Forecast (2033)	6.8%

The molecular respiratory panels’ market industry in South Korea is expected to reach a market size of USD 49.3 million, expanding at a CAGR of 6.8% during the forecast period. In the past, South Korea has had outbreaks of respiratory illnesses such as MERS (Middle East Respiratory Syndrome) and COVID-19. These incidents have raised public awareness of respiratory illnesses, resulting in a greater demand for reliable market data.

Category-Wise Insights

Multiplex Panels to Dominate Molecular Respiratory Panels Market Industry with 55.0% Market Share in 2022

The multiplex panels is to dominate the molecular respiratory panels’ market industry with a market share of 50.4% in 2022. A multiplex molecular diagnostic platform would be a crucial component of a successful respiratory diagnostics method. For the identification of respiratory infections, NADT methods such as loop-mediated isothermal amplification and nucleic acid sequence-based amplification have been utilized.

Multiplexing, in which numerous targets are evaluated at the same time, is often used in PCR-based assays and offers substantial advantages in terms of efficiency and pathogen coverage over single-pathogen tests.

Diagnostic Use to Dominate Molecular Respiratory Panels Market With 65.8% Market Share in 2022.

Diagnostic use is dominating the molecular respiratory panels’ market industry with market share of 65.8% in 2022. Molecular respiratory panels are generally used for diagnostic reasons since they are designed to detect and identify respiratory pathogens at the molecular level, delivering accurate and speedy findings for respiratory infection diagnosis.

Which Technique Is Widely Adopted In the Market?

Reverse transcription polymerase chain reaction (RT-PCR) is dominating the molecular respiratory panels’ market with the market share of 47.8% in 2022. RT-PCR may identify very low quantities of viral genetic material in patient samples. This great sensitivity enables for the early diagnosis of viral infections, even when the viral load is low in the early stages of the disease. It facilitates accurate diagnosis and patient management. This technique's great sensitivity is particularly appealing to healthcare professionals and individuals seeking to diagnose.

Which End User Is Widely Adopted In the Market?

The diagnostic centers dominating the molecular respiratory panels’ market with the market share of 38.1% in 2022. Diagnostic centers often utilize molecular respiratory panels as part of their comprehensive testing services for respiratory infections. These panels offer several advantages, such as the ability to simultaneously test for multiple respiratory pathogens in a single assay, high sensitivity and specificity, and rapid turnaround times.

How Key Players Stay Competitive in the Molecular Respiratory Panels Market Industry?

The molecular respiratory panel sector is aggressively competitive, with many companies fighting for market dominance. Key players in the molecular respiratory panels market employ various strategies to stay competitive and maintain their market position.

Key Strategies Used by the Participants

• Product Innovation

Key players invest in research and development activities to continuously improve their molecular respiratory panel products. By offering innovative and advanced products, companies can attract customers and differentiate themselves from competitors.

• Strategic Partnerships and Collaborations

Key players form strategic partnerships and collaborations with other companies, academic institutions, and research organizations. These partnerships facilitate the exchange of knowledge, resources, and technologies, leading to the development of new products and solutions.

• Expansion into Emerging Markets

Companies focus on expanding their presence in different geographic regions. This involves establishing distribution channels, partnerships with local distributors, and obtaining necessary regulatory approvals in target markets.

• Mergers and Acquisitions

Companies in the market may engage in mergers or acquisitions to consolidate their product portfolio, acquire new technologies, these strategic moves allow companies to enter new market segments, gain access to novel products or intellectual property, and achieve synergies in terms of research, manufacturing, or distributions.

Key Players in the Molecular Respiratory Panels Market Industry

• Roche Diagnostics
• Siemens Healthineers
• Advanced Molecular Diagnostics (AMD)
• Illumina Inc.
• Helvetica Healthcare
• Qiagen
• Jant Pharmacal Corporation
• Trivitron Healthcare
• Thermo Fisher Scientific
• Cepheid
• Bioneer Corporation
• BioFire Diagnostics (Biomerieux)
• Antylia Scientific Company
• Quidel Corporation
• DTPM
• Luminex Corporation (DiaSorin)
• Bio-Rad Laboratories

Key Developments in the Molecular Respiratory Panels Market:

• On July 11, 2022, Thermo Fisher Scientific announced the availability of the CE-IVD-marked Applied Biosystems TaqPath Respiratory Viral Select Panel.
• On April 14, 2023, the SARS-CoV-2 Respiratory Panel from QIAGEN, which can identify more than 20 infections from a single patient sample, is anticipated to be made accessible in Japan in the near future.

Segmentation Analysis of the Molecular Respiratory Panels Market

By Panel Type:

• Multiplex Panels
• Syndromic Panels
• Targeted Panels

By Usage Type:

• Diagnostic Use
• Research Use

By Technique:

• Polymerase Chain Reaction (PCR)
• Reverse Transcription Polymerase Chain Reaction (RT-PCR)
• Real-time Polymerase Chain Reaction (qPCR)
• Next-Generation Sequencing (NGS)

By End User:

• Hospitals
• Diagnostic Centers
• Academic & Research Institutions
• Ambulatory Diagnostic Centers

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East & Africa

Frequently Asked Questions

What is the Growth Rate from 2023 to 2033?

The market is anticipated to expand at a 6.3% CAGR from 2023 to 2033.

How Big is the Market?

The market totals USD 1.1 billion in 2023.

What Region Shows High Lucrativeness?

Asia Pacific is expected to be a lucrative market.

What Limits the Market’s Growth?

High equipment limits the market growth.

How did the Market Perform Historically?

From 2017 to 2022, the market held a 9.2% CAGR.