The global molecular diagnostics market size is expected to reach USD 49.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.9% from 2021 to 2028. This growth is owing to factors such as an increasing geriatric population, the outbreak of COVID-19, and the growing demand for point-of-care facilities.
Molecular diagnostics play an important role in infectious disease testing as they can yield effective and fast results. Hence, the increasing prevalence of hospital-acquired infections and infectious diseases is projected to drive the market over the forecast period. Increasing incidence of cardiovascular, neurological, and genetic disorders is further anticipated to accelerate market growth.
The miniaturization of three basic molecular assays - nanobiotechnology, biochips, and microfluidics - is expected to increase the accuracy and specificity of diagnostic outcomes, and hence, increase the demand for molecular diagnostic products. These improvements are expected to enhance the availability of PoC molecular diagnostic tests to yield quick and effective test results.
Companies expanding their regional presence owing to approval of COVID-19 IVD tests are expected to boost the market growth. For instance, Vela Diagnostics received the CE-IVD mark for ViroKey SARS-CoV-2 RT-PCR Test. It is a probe-based RT-PCR test used on Applied Biosystems 7500 Fast Dx instrument to detect SARS-CoV-2. The CE-IVD mark has enabled Vela diagnostics to expand its COVID-19 test in Europe.
Key players are enhancing their range of testing options for real-time PCR instruments by increasing R&D activities for the development of kits that target emerging diseases, or by entering into agreements with other kit manufacturing companies. These include the introduction of Cobas HPV test assay in Cobas 4800 by Roche Diagnostics. The introduction of tuberculosis testing Xpert assay on GeneXpert platform by Cepheid is an example of such advancement. Such advances are anticipated to drive the market.
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The reagents segment dominated the market majorly driven by the high usage rate
The PCR technology segment accounted for the highest revenue share in 2020, attributable to its wide usage in the diagnosis of COVID-19 and other infectious diseases
The self-testing or OTC segment is anticipated to be the fastest-growing segment over the forecast period as it facilitates early diagnosis and constant patient monitoring
North America accounted for the highest revenue share in 2020, driven by a high disease prevalence, rising consumer awareness, proactive government measures, technological advancements, and improvements in healthcare infrastructure
Grand View Research has segmented the global molecular diagnostics market based on product, test location, technology, application, and region:
Molecular Diagnostics Product Outlook (Revenue, USD Million, 2017 - 2028)
Instruments
Reagents
Others
Molecular Diagnostics Test Location Outlook (Revenue, USD Million, 2017 - 2028)
Point-of-Care
Self-test or Over the Counter
Central Laboratories
Molecular Diagnostics Technology Outlook (Revenue, USD Million, 2017 - 2028)
Polymerase Chain Reaction (PCR)
PCR, By Type
Multiplex PCR
Other PCR
PCR, By Product
Instruments
Reagents
Others
PCR, By Procedure
Nucleic Acid Extraction and Purification
Others
In Situ Hybridization (ISH)
Instruments
Reagents
Others
Isothermal Nucleic Acid Amplification Technology (INAAT)
Instruments
Reagents
Others
Chips and Microarrays
Instruments
Reagents
Others
Mass Spectrometry
Instruments
Reagents
Others
Sequencing
Instruments
Reagents
Others
Transcription Mediated Amplification (TMA)
Instruments
Reagents
Others
Others
Instruments
Reagents
Others
Molecular Diagnostics Application Outlook (Revenue, USD Million, 2017 - 2028)
Oncology
Breast Cancer
Prostate Cancer
Colorectal Cancer
Cervical Cancer
Kidney Cancer
Liver Cancer
Blood Cancer
Lung Cancer
Other Cancer
Pharmacogenomics
Infectious Diseases
Methicillin-resistant Staphylococcus Aureus (MRSA)
Clostridium Difficile
Vancomycin-resistant Enterococci (VRE)
Carbapenem-resistant Bacteria
Flu
Respiratory Syncytial Virus (RSV)
Candida
Tuberculosis and Drug-resistant TB
Meningitis
Gastrointestinal Panel Testing
Chlamydia
Gonorrhea
HIV
Hepatitis C
Hepatitis B
Other Infectious Disease
Genetic Testing
Newborn Screening
Predictive and Presymptomatic Testing
Other Genetic Testing
Neurological Disease
Cardiovascular Disease
Microbiology
Others
Molecular Diagnostics Regional Outlook (Revenue, USD Million, 2017 - 2028)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Belgium
Switzerland
Netherlands
Poland
Austria
Greece
Sweden
Turkey
Finland
Asia Pacific
Japan
China
India
Sri Lanka
Malaysia
Australia
New Zealand
Thailand
Vietnam
Singapore
Latin America
Brazil
Mexico
Chile
Peru
Colombia
Argentina
Middle East & Africa
South Africa
Saudi Arabia
Jordan
UAE
Qatar
Nigeria
Egypt
List of Key Players of Molecular Diagnostics Market
BD
bioMérieux SA
Bio-Rad Laboratories, Inc.
Abbott
Agilent Technologies, Inc.
Danaher
Hologic Inc. (Gen-Probe)
Illumina, Inc.
Johnson & Johnson Services, Inc.
Grifols, S.A.
QIAGEN
F. Hoffmann-La Roche, Ltd.
Siemens Healthineers AG
Sysmex Corporation
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