The global next generation molecular assay market was valued at around US$ 4,976.30 Million at the end of 2021. The market is projected to register a 5.16% CAGR and top a valuation of US$ 8,654.92 Million by 2032.
The market for next generation molecular assay market is anticipated to propel due to factors such technological development, an ageing population, and rising demand for genetic testing.
Worldwide, there has been a growth in the use of next-generation molecular assays due to a number of advantages over traditional testing, including the ability to do multiple assays, reliable results, and faster processing. High degree of precision has been achieved by next generation molecular test.
The use of next-generation molecular assays in therapeutic medication monitoring and drug prescription selection with the aim of avoiding toxicity and other adverse effects has been made possible by benefits including fewer mistakes and improved detection and quantification.
| Attributes | Details |
|---|---|
| Next Generation Molecular Assay Market Value in 2021 | US$ 4,976.30 Million |
| Next Generation Molecular Assay Market Value in 2032 | US$ 8,654.92 Million |
| Next Generation Molecular Assay Market CAGR (2022 to 2032) | 5.16% |
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A significant factor driving the global market for next-generation molecular assays is improved reimbursement regulations. An increasing trend in the global market for next generation molecular assays, including genomics and proteomics, is likely to fuel the industry's expansion. These assays were created as a result of improvements in in-vitro detection techniques.
The ability to identify novel virus variants, genomic alterations in pathogens, and other advancements related to next generation molecular assays are some of the reasons supporting the growth of the next generation molecular assay market.
The Next Generation Molecular Assay Market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
North America is anticipated to have a dominating position in the global next generation molecular assay market as a result of rising R&D spending, advantageous reimbursement scenarios, and a growing emphasis on creating cutting-edge technologies.
Moreover, Asia Pacific is expected to have a significant growth potential for the next generation molecular assay market during the forecast period due to the rising number of R&D facilities and rising government spending on healthcare.
Principal Consultant
Thermo Fisher Scientific Inc, Invivoscribe, Myriad Genetics Inc, Becton, Dickinson and Company, Molecular Devices, LLC, Luminex Corporation, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Tecan Trading AG, Agilent Technologies Inc, and Danaher Corporation.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.16% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segment Covered | Test Type, Technique, End-User, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Argentina, Germany, United Kingdom, France, Spain, Italy, Russia, BENELUX, China, Japan, South Korea, India, Malaysia, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, North Africa, Turkey |
| Key Players | Thermo Fisher Scientific Inc; Invivoscribe; Myriad Genetics Inc; Becton, Dickinson and Company; Molecular Devices, LLC; Luminex Corporation; Siemens Healthcare GmbH; F. Hoffmann-La Roche Ltd; Tecan Trading AG; Agilent Technologies Inc; Danaher Corporation |
| Customization | Available Upon Request |
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The global next generation molecular assay market is anticipated to register a CAGR of 5.16% during the forecast period.
Thermo Fisher Scientific Inc, Invivoscribe, Myriad Genetics Inc, Becton, Dickinson and Company, Molecular Devices, LLC, Luminex Corporation, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Tecan Trading AG, Agilent Technologies Inc, and Danaher Corporation., among others are some prominent next generation molecular assay market players.
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Next Generation Molecular Assay Market
