Molecular Diagnostics Reagent Market

Global Market Study on Molecular Diagnostics Reagent: More of Cross-platform applications to drive the market expansion

Molecular Diagnostics Reagent Market Segmented By Sample Preparation Kits, PCR Assay Kits, In situ Hybridization Kits, Microarray Kit, Sequencing Kit Product Type with Pathogen Detection, Biomarker Screening, Therapeutic Monitoring Application

  • May-2022
  • PMRREP27472
  • 258 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Molecular Diagnostics Reagent Market Outlook (2022 - 2028)

Molecular Diagnostics Reagent Market witnessed a CAGR of 5.9% between 2013 and 2021. The global Molecular Diagnostics Reagent Market is expected to strike a 6.6% CAGR between 2022 and 2028. In 2022, the global Molecular Diagnostics Reagent Market size was US$ 9,253.9 million, which is projected to reach US$ 12,028.7 million by the year 2028.

Molecular Diagnostics Reagent Market Size (2022)

US$ 9,253.9 Mn

Projected Market Value (2028)

US$ 12,028.7 Mn

Global Market Growth Rate (2022-2028)

6.6% CAGR

Share in parent market

12.7%

Find Out More about the Report Coverage

Companies

  • F. Hoffmann-La Roche Ltd
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories Inc
  • Thermo Fisher Scientific Inc.
  • Merck KGaA
  • Agilent Technologies, Inc.
  • Qiagen N.V.
  • Illumina, Inc.
  • DiaSorin S.p.A
  • Hologic Inc.

Molecular Diagnostics Reagent Market Demand Analysis (2013-2021) v/s Market Outlook (2022-2028)

Molecular Diagnostics Reagent Market is expected to witness a CAGR of 4.7% due to the increase in incidences of diseases. Furthermore, several novel molecular technologies are being developed and applied to the diagnosis and treatment of infectious diseases. These new technological advancements will drive the Molecular Diagnostics Reagent market forward.

Customize this Report

Explore Intelligence Tailored to Your Business Goals.

What is expected to keep the Hopes High for Molecular Diagnostics Reagent Market?

  • An increase in the number of diseases

The need for Molecular Diagnostics Reagent has increased due to the growing occurrences of diseases such as cancer, HIV, and others, because Molecular Diagnostic Reagents are used to monitor the therapeutic efficacy of drugs. Hence, the growing prevalence of diseases is expected to drive significant growth in the Molecular Diagnostics Reagent Market globally.

molecular-diagnostics-reagent-market

  • Technological Advancements

The continuous advancements in molecular biology has changed the way illnesses are detected and treated. Modern molecular diagnostics reagent technologies can identify bacteria, viruses, and transmitted mutations quickly and with unrivaled precision. Due to these technical breakthroughs, there has been a substantial influence on the area of healthcare, and the need for molecular diagnostics reagents has surged in recent times. Producers of Molecular Diagnostic Reagents have a particular emphasis on new technologies that enable biologists to examine and understand massive amounts of genetic data. Hence, Technological Advancements are expected to drive market growth in the near future.

  • Increase in the development of biomarkers

Increased spending on biomarker research & development is likely to boost the Global Molecular Diagnostic Reagent market. The increasing use of biomarkers for illness diagnosis and prognosis, along with disease forecasting and evaluation, has increased the need for Molecular Diagnostic Reagents. Various molecular diagnostic kits for contagious diseases, such as hepatitis and HIV, are widely accessible in the market. The growing interest of large corporations in expanding their grit by producing biomarker solutions is projected to boost the market.

Market Research Methodology - Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

Get actionable insights on Ship Repair And Maintenance Services Market

What restraints is the Molecular Diagnostics Reagent Market subject to?

  • “High Cost of Equipment”

The cost of a molecular diagnostics device is high. In addition, upkeep and licensing, lab monitoring, and the other expenditures including energy, space, and staff are all extra costs. Only big medical institutions and labs with substantial capital budgets can be able to afford a good number of molecular diagnostics equipment. Many small labs, physicians, and independent practitioners do not have huge capital budgets and hence cannot afford large or extremely large-sized analyzers. Hence, the high cost of equipment is a restraint to the expansion of the molecular diagnostics reagent market.

Explore Persistence Market Research’s expertise in promulgation of the business !

How has Covid-19 affected the Molecular Diagnostics Reagent Market?

“Decrease in demand due to lockdown”

The COVID-19 pandemic had a negative impact on the global economy, but it had a positive impact on the Molecular Diagnostics Reagent Market due to huge demand for the COVID-19 testing using molecular diagnostic techniques. The demand for various diagnostic kits and tests like PCR and rapid antigen skyrocketed, resulting in a significant increase in the sales. Apart from this, COVID-19 has influenced the regulatory system and procedures, since governments and healthcare providers were confronted with new obstacles, the regulatory authorities fast-tracked the approval of diagnostic equipment.

Competitive Landscape

The Molecular Diagnostics Reagent industry is very competitive and highly consolidated due to the presence of several large players. However, with technological advancements and product innovations, medium, and small businesses are expanding their market presence by offering new, lower-cost devices. Key players in the market are focusing on mergers and acquisitions as the industry is in the growth phase. Companies are making strategic decisions to engage in mergers and acquisitions in order to expand their product portfolios and grow their market share.

Recent Developments:

  • Roche announced a merger and acquisition with GenMark Diagnostics in March 2021 to obtain access to cutting-edge molecular diagnostics technologies. This collaboration enables it to screen for a broad range of infections with a single patient sample. This collaboration helped the company in accelerating its business growth and expanding its geographic footprint.
  • Hologic, Inc. (US) acquired Biotheranostics Inc. (US) in January 2021 to broaden its molecular diagnostics range.
  • GeneIQ, a molecular diagnostics laboratory located in Dallas, shifted its focus, like many others around the world, to handle the ongoing COVID-19 pandemic in December 2020, and the change has reinforced a significant growth.

Molecular Diagnostics Reagent Industry Report Scope

Attribute

Details

Forecast Period

2022-2028

Historical Data Available for

2013-2021

Market Analysis

US$ Mn/Bn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • Russia
  • India
  • China
  • Japan
  • UAE
  • Australia

Key Market Segments Covered

By Product

Key Companies Profiled

  • Becton, Dickinson and Company
  • Bio-Rad Laboratories Inc
  • Thermo Fisher Scientific Inc.
  • Merck KGaA
  • Agilent Technologies, Inc.
  • Qiagen N.V.
  • Illumina, Inc.
  • DiaSorin S.p.A
  • Hologic Inc.
  • Other

Customization & Pricing

Available upon Request

Molecular Diagnostics Reagent Market Categorization

Molecular Diagnostics Reagent Market by Product

  • Sample Preparation Kits
  • PCR Assay Kits
  • In situ Hybridization Kits
  • Microarray Kit
  • Sequencing Kit

Molecular Diagnostics Reagent Market by Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)

Media Release

- FAQs -

In 2022, the Molecular Diagnostics Reagent Market stands at USD 9,253.9 million, and it is expected to reach USD 12,028.7 million by 2028 at a CAGR of 6.6%.

Molecular Diagnostics Reagent Market exhibited a 5.9% CAGR between 2013 and 2021.

The high cost of equipment is the key restraint in the Molecular Diagnostics Reagent Market.

An increase in the prevalence of diseases and continuous technological advancements are the key factors driving the growth of the market.

Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., and Merck KGaA are among the top players in the market.

Recommendations

Adult Hemoglobinopathy Testing Market

The global adult hemoglobinopathy testing market is projected to grow at a CAGR of 3.9% throughout the forecast period, Favorable reimbursement for adult hemoglobinopathy testing is expected to drive the growth of the adult hemoglobinopathy testing market over the forecast period..

Automated ESR Analyzer Market

Global automated ESR analyzer market will exhibit a 5% CAGR over the forecast period (2021-2031)..

Lateral Flow Assay Market

Lateral Flow Assay Market estimated to progress at a CAGR of 5% to reach a valuation of US$ 13.7 Bn by 2032.

Rapid Influenza Diagnostic Tests Market

The global rapid influenza diagnostic tests market was valued at US$ 800.8 Mn in 2020, and is expected to register a CAGR of 8.7% over the forecast period (2021-2031). .

Our Clients

Our Clients