Global molecular diagnostics market to reach $18.6 billion by 2026

Editing: 17; Published: February 2022
Executive Pool: 12781
Companies: 84 – Players covered include Abbott Laboratories; Molecular Abbott; Becton, Dickinson and company; bioMérieux SA; Cepheid; F. Hoffmann-La Roche Ltd; Grifols International, SA; Hologic, Inc.; QIAGEN SA; QuestDiagnostics, Inc.; Siemens Healthcare GmbH; Tecan Group Ltd. ; The ELITech Group; Thermo Fisher Scientific and others.
Blanket: All major geographies and key segments
segments: Component (reagents and kits, instruments, software and service); Technology (PCR, In-Situ Hybridization, Isothermal Amplification, Sequencing, Chips & Microarrays, Other Technologies); Application (infectious diseases, oncology tests, genetic tests, other applications)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.

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Global molecular diagnostics market to reach $18.6 billion by 2026
Molecular diagnostics is the clinical application of molecular technologies to understand, detect and monitor human disease. The growth of the global market is expected to be driven by the continued shift from traditional tests to newer tests, increasing applications in the diagnosis of infectious diseases, and a significant increase in prenatal diagnosis, rare diseases and oncology. The increase in the prevalence of various types of cancers and infectious diseases is a major growth factor. Other important factors propelling growth include growing awareness and acceptance of advanced therapeutic and diagnostic choices such as personalized medicine; development of biomarkers; and the advancement of proteomics and molecular techniques. Reimbursement reforms also go some way to fueling market growth. Another important growth driver is the increasing use of molecular diagnostics for home care.

Amid COVID-19 Crisis, Global Molecular Diagnostics Market Estimated at US$13.5 billion in 2022, is expected to reach a revised size of US$18.6 billion by 2026, growing at a CAGR of 9.8% over the analysis period. Reagents & Kits, one of the segments analyzed in the report, is expected to register a CAGR of 10.4% and reach US$11.7 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Instruments segment is readjusted to a revised CAGR of 8.7% for the next 7-year period. The growth of the reagents and kits segment is mainly attributed to the increasing demand for quality control reagents and solutions to perform various tests. The reagents and kits are widely used in research organizations, academic institutions and hospitals.

The US market is estimated at $5.7 billion in 2022, when China is expected to reach $1.1 billion by 2026
The molecular diagnostics market in the United States is estimated at US$5.7 billion in the year 2022. Chinathe second largest economy in the world, is expected to reach a projected market size of US$1.1 billion by 2026 with a CAGR of 10.9% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 9% and 8.5% respectively over the analysis period. In Europe, Germany is expected to grow at approximately 8.9% CAGR. Rapidly changing healthcare industry in various countries in the regions, implementation of stringent infection control standards and growing emphasis on providing high quality medical services to patients are driving the market growth in developed regions. Major factor in the growth of Asia Pacific market includes the increase in the number of cases being diagnosed with chronic diseases, cancer and infectious diseases.

New uses are emerging in blood donor screening
An upsurge in new infections surfacing around the world remains a major concern for the blood bank and blood product industry. Although raising awareness among consumers and health workers has helped reduce the intensity of infections, the industry has yet to free itself from various issues such as safety and availability of quality blood. Awareness has also resulted in the establishment of strict safety standards for donors and blood (blood) screening banks to be met before any transfusion. Rigorous testing and screening procedures, along with the help of new technologies have sufficiently reduced the threat of diseases transmitted by transfusions. Although the general situation has improved, cases of disease spread through blood transfusions are still common in developing and underdeveloped countries. Donor blood screening has become mandatory to ensure the prevention of transfusion-transmitted infections (TTIs). Screening of blood and plasma products is done to determine the presence of syphilis, hepatitis B surface antigen, anti-hepatitis core, alanine aminotransferase (ALT), liver enzyme and a surrogate indicator for possible non-A and non-B hepatitis, anti-hepatitis C, anti-HIV-1, anti-HIV-2 and anti-HIV-I/II. Sometimes test errors occur, for example when it is a bit premature for antibodies to show up in the blood test or when the blood donor shows an abnormal response to an infection. Therefore, in order to make the screening process more efficient, new technologies, such as DNA amplification technology, are being tested.

Molecular tests are now commonly used to screen for the presence of HCV, HIV and HBV in donated blood. To some extent, molecular tests are also used to test blood donations for the presence of parvovirus B19, West Nile virus (WNV), and hepatitis A. Additionally, molecular tests for sepsis or blood infections are used to detect pathogens blood cultures. These tests can be used for the identification of a single microbe or panel tests based on multiplex systems which can be used for the detection of a range of common causes of bloodstream infections. Low-plex techniques available for blood culture analysis include molecular diagnostics for testing positive blood cultures, such as peptide nucleic acid-based fluorescence in situ hybridization, and molecular testing for Staph aureus and MRSA . Despite the fact that low plex tests offer reliable diagnosis with higher specificity, multiplex tests are recently preferred.

Segment of software and services to be reached $2.2 billion by 2026
The market is seeing tremendous advances in software used in instruments to ensure accurate analysis and interpretation of the underlying disease state. The use of AI and associated software and algorithms allows laboratories to report results automatically. In the global Software & Services segment, United States, Canada, Japan, China and Europe will drive the CAGR of 9.1% estimated for this segment. These regional markets representing a combined market size of 1 billion US dollars will reach a projected size of US$1.9 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$182 million by 2026, while Latin America will increase at a CAGR of 9.9% over the analysis period. Continued

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