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The global molecular diagnostics market size accounted for a revenue of USD 8,012.7 Million in 2017 and is expected to reach USD 13,873.6 Million by the end of 2025, with a CAGR of 7.1%.
During the last decade, molecular diagnostics has emerged as a superior methodology and achieved the goal of faster disease diagnosis along with minimal complexities. The demand for molecular diagnostics is higher, particularly for the diagnosis of infectious diseases. The growing prevalence of infectious diseases in both developing and developed nations is boosting the demand for molecular diagnosis. Major viral and bacterial outbreaks in the Middle East & Africa forced all governments and research institutions across the globe to adopt molecular diagnostics to inhibit the microbial outbreaks.
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In terms of techniques, the amplification techniques segment is projected to hold a considerable molecular diagnostics market share. Consumables and reagent segments are also expected to hold a considerable share in the global market.
"Infectious Diseases considered to be the Most Attractive Application"
Currently, managing the microbial outbreaks and infections across the globe is a big challenge faced by all the governments worldwide. Huge amount of resource engagement in terms of technology, expertise and finance serves, and favorable environment for the imitation of research projects, particularly for infectious diseases is boosting the market for molecular diagnostics.
The Infectious diseases application segment accounted for a market share of 60.0 % in 2017. Moreover, a rise in awareness programs initiated by global organizations such as World Health Organization (WHO), World Bank and others for infectious diseases are expected to encourage the talent pool to step forward with the aim to achieve higher utilization of molecular diagnostics.
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In terms of product type, reagents and consumables considered to hold majority share owing to higher demand over instruments. In terms of techniques, amplification techniques are anticipated to hold majority share owing to the efficiency of these techniques for faster and accurate disease diagnosis.
Moreover, sequencing techniques represent higher growth during the forecast period. Various end users in the global molecular diagnostics market are clinical & pathology labs, hospitals, and others (physicians’ offices, clinics, emergency centers, long-term & urgent care centers, etc). Lucrative reimbursement strategies offered by the government for the implementation of molecular diagnostics signifies considerable growth in the execution of molecular diagnostics in clinical & pathology labs as well as in hospitals.
"Reinforcement Strategies of Government Institutions for Molecular Diagnostics Reflected as Higher Growth of the Market in North America"
North America generated a revenue of US$ 3,639.4 Mn in 2017, and is anticipated to emerge dominant in the global molecular diagnostics market trend during the forecast period. Growth witnessed in the region is likely to be driven by the increasing association and collaborative efforts taken by both large academic institutions and research hospitals.
Moreover, the increasing interactions between hospital research organizations and academic institutions for process improvements will help boost the market. The utilization of large amount of molecular diagnostics for improvisation of clinical efficiency are projected to offer significant molecular diagnostics market growth during the forecast period.
North America Molecular Diagnostics Market, 2017
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Moreover, the rising emphasis of bigger hospital research and clinical microbiology organizations, and their collective efforts to increase the level of molecular diagnostics are expected to drive the molecular diagnostics market in Europe. Though, improvements in Asia Pacific are currently in premature stage, rapidly developing infrastructure and increasing investments in research and development are anticipated to serve huge potentials for the growth of the market in Asia Pacific.
"QIAGEN, F. Hoffmann-La Roche Ltd., Danaher, and Abbott Expected to Hold Considerable Share in the Global Molecular Diagnostics Market"
Giant organizations such as QIAGEN, F. Hoffmann-La Roche Ltd., Danaher, Abbott are expected to lead the global molecular diagnostics market size during the forecast period. Optimal research & development strategies, robust supply chain network, increasing investments in research & development and cost management are projected to serve huge opportunities for the aforementioned market players to lead the global molecular diagnostics market share during the forecast period. Moreover, higher potential for intense penetration of molecular diagnostics in the Asia Pacific market may offer significant share for the companies in terms of revenue in the global molecular diagnostics industry.
The science of medical diagnostics is witnessing remarkable achievements in terms of new diagnostic domains and philosophies. The popularity of molecular diagnostics is continuously increasing in life sciences due to its extensive applications, promising solutions, and methodologies for disease diagnosis on molecular level.
The report provides both qualitative and quantitative insights on molecular diagnostics industry and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented into product type, application, technique, and end user. On the basis of product type, the global molecular diagnostics market is categorized into instruments and reagents & consumables. Based on applications, the global molecular diagnostics Industry is segmented into infectious disease, blood screening, histology, oncology, and others. Based on techniques, the global molecular diagnostics market is segmented into amplification techniques, hybridization techniques, sequencing techniques, and others.
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Various end users covered in the report are clinical and pathology laboratories, hospitals, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions are further categorized into countries.
Along with this, the report provides an elaborative analysis of the market dynamics and a competitive landscape. Various key insights provided in the report are Porter’s five forces analysis, recent advancements in molecular diagnostics, key mergers & acquisitions, and others.
By Product Type
By End User
Based on the detailed study conducted by Fortune Business Insights, the molecular diagnostic market was valued at USD 8.01 Billion in 2017.
Fortune Business Insights has estimated the value of the molecular diagnostic market at USD 13.87 Billion in 2025.
The molecular diagnostic market is projected to grow at a CAGR of 7.1% during the forecast period.
In 2017, North America dominated the molecular diagnostic market by generating a revenue of USD 3.63 Billion.
Increasing prevalence of infectious diseases is driving the growth of global molecular diagnostic market.
BD, Danaher and Grifols, S.A. are the companies that dominated the molecular diagnostic market in 2017
Based on the analysis done by Fortune Business Insights, the molecular diagnostic market is expected to witness significant opportunities owing to the increasing demand of molecular diagnostic in treatment of different infections.
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