Dublin, Jan. 21, 2022 (GLOBE NEWSWIRE) — The report “Molecular Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis” has been added to from ResearchAndMarkets.com offer.
The global molecular diagnostics market is expected to grow from US$16,258.97 million in 2021 to US$36,176.65 million by 2028; it is expected to grow at a CAGR of 12.1% over the period 2021-2028. The growth of the market is mainly attributed to an increase in the demand for point-of-care devices, developments in market players, and an increase in the prevalence of associated diseases. However, the growing prevalence of associated diseases is expected to limit the market growth.
Molecular diagnostics has many applications in various indications such as oncology, infectious diseases, genetic testing, heart disease and immune system disorders. The increasing prevalence of associated indications is expected to drive the market. For example, cancer is one of the leading causes of death worldwide. Early detection of cancer can prevent death in patients. POC diagnostics play a vital role in the early role and follow-up of cancer.
The World Health Organization (WHO) said that about 70% of deaths in low- and middle-income countries were caused by cancer in September 2021. Additionally, according to the Global Burden of Disease Study in the Global Health Data Exchange and the World Health Statistics 2020 Cardiovascular disease (CVD) mortality in China 322 per 100,000 population, India reported 185 per 100,000 population with early stage CVD.
According to the American Cancer Society, an estimated 1.9 million new cases of cancer were diagnosed in 2021 in the United States. Additionally, according to data released by the UK.GOV on November 22, 2021, the infection rate of COVID-19 is around 422.7 per 100,000 population. Thus, the growing prevalence of target diseases in molecular diagnostics is expected to drive the market.
Based on disease domain, the molecular diagnostics market is segmented into oncology, infectious diseases, genetic testing, heart disease, immune system disorders, and others. The infectious disease segment would hold the largest market share in 2021. The oncology segment is expected to register the highest CAGR during the forecast period.
In terms of technology, the molecular diagnostics market is segmented into polymerase chain reaction, isothermal nucleic acid amplification technology, DNA sequencing and next generation sequencing, in situ hybridization, DNA chip, etc. The polymerase chain reaction segment would hold the largest market share in 2021, and it is further expected to register the highest CAGR in the market during the period 2021-2028.
Based on products and services, the molecular diagnostics market is segmented into tests and kits, instruments, services, and software. The tests and kits segment would hold the largest market share in 2021, and it is further expected to register the highest CAGR in the market during the period 2021-2028.
In terms of end-user, the molecular diagnostics market is segmented into hospitals and clinics, diagnostic laboratories, research institutes and universities, etc. The diagnostic laboratory segment would hold the largest market share in 2021, and it is further expected to register the highest CAGR in the market during the period 2021-2028.
Main topics covered
1.1 Scope of the study
1.2 Guidelines for the research report
1.3 Market Segmentation
2. Main Takeaways
3. Research methodology
3.2 Secondary research
3.3 Primary research
4. Molecular Diagnostics Market – Market Landscape
4.2 PEST analysis
4.3 Expert advice
5. Molecular Diagnostics Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Demand for Service Point and Developments by Market Players
5.1.2 Increased prevalence of associated diseases
5.2 Market Constraints
5.2.1 Limitations associated with molecular testing
5.3 Market Opportunities
5.3.1 Global and regional players to explore untapped markets for potential opportunities
5.4 Future trends
5.4.1 Growing Popularity of Home Health Care Services
5.5 Impact analysis
6. Molecular Diagnostics Market – Global Analysis
6.1 Global Molecular Diagnostics Market Revenue Forecast and Analysis
6.2 Global Molecular Diagnostics Market, by Geography – Forecast and Analysis
6.3 Key Players Market Share (%), 2020
7. Molecular Diagnostics Market Analysis – By Disease Area
7.2 Molecular Diagnostics Market Revenue Share, by Disease Area (2021 and 2028)
7.4 Infectious disease
7.5 Genetic testing
7.6 Heart disease
7.7 Immune system disorders
8. Molecular Diagnostics Market – By Technology
8.2 Molecular Diagnostics Market Revenue Share, by Technology (2021 and 2028)
8.3 Polymerase chain reaction (PCR)
8.4 Isothermal Nucleic Acid Amplification Technology (INAAT)
8.5 DNA sequencing and next generation sequencing (NGS)
8.7 In situ hybridization (ISH)
9. Molecular Diagnostics Market – By Products & Services
9.2 Molecular diagnostics market, by products and services, 2021 & 2028 (%)
9.3 Assays and Kits
9.5 Services and software
10. Molecular Diagnostics Market Revenue and Forecast to 2028 – End User
10.2 Molecular Diagnostics Market Share, by End User – 2021 & 2028 (%)
10.3 Hospitals and Clinics
10.4 Diagnostic Laboratories
10.5 Research Institutes and Academics
11. Molecular Diagnostics Market Revenue and Forecast to 2028 – Geographical Analysis
11.1 North America: Molecular Diagnostics Market
11.2 Europe: molecular diagnostics market
11.4 Middle East & Africa Molecular Diagnostics Market Revenue and Forecast to 2028
11.5 South & Central America Molecular Diagnostics Market Revenue and Forecast to 2028
12. Impact of the COVID-19 pandemic on the molecular diagnostics market
12.1 North America: Assessing the Impact of the COVID-19 Pandemic
12.2 Europe: Assessing the impact of the COVID-19 pandemic
12.3 Asia-Pacific: Assessing the impact of the COVID-19 pandemic
12.4 Middle East and Africa: Assessing the impact of the COVID-19 pandemic
12.5 South and Central America: Assessing the impact of the COVID-19 pandemic
13. Molecular Diagnostics Market – Industry Landscape
13.2 Growth Strategies Performed by Market Companies (%)
13.3 Organic developments
13.4 Inorganic developments
14. Company Profiles
14.1.1 Key Facts
14.1.2 Description of the activity
14.1.3 Products and services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Agilent Technologies, Inc.
14.3 Thermo Fisher Scientific Inc.
14.4 F. Hoffmann-La Roche Ltd.
14.6 bioMérieux SA
14.7 Illumina, Inc.
14.9 Siemens Healthineers AG
14.10 Novartis AG
14.11 Limited TBG Diagnostics
For more information about this report visit https://www.researchandmarkets.com/r/v1142u
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