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Molecular methods are the standard laboratory techniques used in molecular biology, genetics, biochemistry, and biophysics which usually include handling and analysis of DNA, RNA, and proteins. Molecular methods comprise of a variety of techniques and instruments like PCR, ELISA, immunoassays, blotting, etc. Increasing incidences of infectious diseases, increasing research activities are the major factors driving the growth of the market. Moreover, these methods are employed in the production of vaccines, biologics and biosimilar further boosting the demand for the market.
Key Market Driver -
Clinical diagnostics and increase in the incidences of infectious diseases are projected to boost the market
Key Market Restraint -
High cost and technical expertise are likely to hinder the market growth
Factors such as escalation in incidence and prevalence of cancer and infectious diseases have increased the focus towards biosimilar, biologics as well as the recombinants. According to the International Agency for Research on Cancer 2018, cancer burden raised to 18.1 million new cases and 9.6 million cancer deaths in 2018. According to the World Health Organization 2018, infectious diseases account for approximately 17 million deaths worldwide rising as a global crisis. Apart from this, the growing use of molecular methods in clinical diagnostics techniques such as ELISA, western blotting, and immunoassays is also likely to propel the market growth. The overall molecular method market is expected to witness significant growth during the forecast period due to factors such as increased R&D investments, rise in the prevalence of cancer patients, rising incidences of infectious diseases and zoonotic diseases.
However, the molecular methods demand technical expertise and instruments, which may put high cost and technical barriers in due course that may obstruct the market.
The global molecular methods market can be segmented on the basis of products, methods, end-users, and region. Based on the product, the market can be segmented into instruments, reagents & consumables, and services. Based on the methods, the market can be segmented into the polymerase chain reaction (PCR), immunoassays, biosensors, microarrays, and others. Based on the end-user, the market can be segmented into biotechnology and pharmaceutical industries, diagnostic centers, academic and research institutes, and others.
Geographically, the molecular methods market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The major companies in the global Molecular methods report include bioMérieux SA, QIAGEN, Bio-Rad Laboratories Inc., 3M, Veredus Laboratories, NEOGEN CORPORATION, Thermo Fisher Scientific Inc., ArcherDX Inc., HiMedia Laboratories, Eurofins Scientific, SGS SA, and other prominent players.
Geographically, the global molecular methods market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North American region is likely to hold the largest share of the market and is anticipated to follow the same momentum over the forecast period owing to the increasing expenditure in research. The United States is expected to witness the highest growth due to the plethora of world-class research universities and academic medical centers. Moreover, the R&D spending of the United States is quite higher than in most of the regions.
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Europe is projected to be the second most productive market throughout the forecast period. The development of new products and partnership activities of biotechnology companies is likely to boost the growth of the recombinant protein market in this region. However, Asia-Pacific possesses the high market potential for the growth of the market due to an increase in the purchasing power of the countries of this region and R&D expenditure. Moreover, increasing incidences in infectious and zoonotic diseases in this region are further driving the demand for the market. Latin America and the Middle East and Africa are expected to show moderate growth during the forecast period.
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