U.S., Europe, and Asia Pacific Molecular Diagnostics Market by 2028

Techniques used to analyse biological markers in genome and proteome are the collection of molecular diagnostics. To monitor and diagnose the disease, detect risk and to make the decision regarding the therapies for individual patient, this technique is used. The necessary underpinnings are supplied by molecular diagnostics for any successful implementation of gene therapy or biologic response modifiers. For detecting minimal residual disease, therapy responses, and assessing disease prognosis the molecular diagnostics offers a great tool.

Moreover, laboratories are having greater impact by adopting molecular diagnostics, on care and treatment of patients. These modern systems are easing doctors to treat infectious diseases fast and with much accuracy.

Figure 1. U.S., Europe, and Asia Pacific Molecular Diagnostics Market (US$ Mn), By Product Type, 2021

U.S., EUROPE, AND ASIA PACIFIC MOLECULAR DIAGNOSTICS MARKET

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Figure 1.1. U.S., Europe, and Asia Pacific Molecular Diagnostics Market (US$ Mn), By Product Type, 2028

U.S., EUROPE, AND ASIA PACIFIC MOLECULAR DIAGNOSTICS MARKET

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U.S., Europe, and Asia Pacific Molecular Diagnostics Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2021:	US$ 7,147 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	10.7%	2028 Value Projection:	US$ 11,000 Mn
Geographies covered:	U.S. Europe: Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Segments covered:	By Product Type: Reagents, Kits & Instruments By Technology: PCR-based, NGS-based By Application: Genetic Testing, Oncology, Microbiology, STDs, Blood Screening, Virology, Tissue Typing, Prenatal Diagnosis, Others By End Users: Hospitals, Clinics, Ambulatory Surgery Centers
Companies covered:	Abbott Laboratories, Hologic, Inc., Grifols, S.A., Qiagen N.V., F.Hoffmann-La Roche Ltd., Siemens Healthineers, Becton, Dickinson and Company, Beckmann Coulter, Inc., Bio-Rad Laboratories, and Thermo Fisher Scientific Inc.
Growth Drivers:	Increasing applications of biomarkers New product launches by market players with increasing government initiatives Increasing demand for molecular diagnostic tests
Restraints & Challenges:	High cost of instruments Regulatory framework in developed economies

Figure 2. U.S., Europe, and Asia Pacific Molecular Diagnostics Market (US$ Mn), By Technology, 2021

U.S., EUROPE, AND ASIA PACIFIC MOLECULAR DIAGNOSTICS MARKET

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Figure 2.1. U.S., Europe, and Asia Pacific Molecular Diagnostics Market (US$ Mn), By Technology, 2028

U.S., EUROPE, AND ASIA PACIFIC MOLECULAR DIAGNOSTICS MARKET

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U.S., Europe, and Asia Pacific Molecular Diagnostics Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China.

The COVID-19 has impacted molecular diagnostics testing and research for non-COVID applications. The deployment of COVID-19 molecular diagnostics slowed down due to lack of equipment, insufficient lab environmental protection, and reagent capacity. Even the laboratory professionals faced immediate urgent testing demands. On non-COVID biologic research, a less adverse consequence has been noticed which also includes molecular diagnostics. By reallocation and equipment, the non-COVID research has been hampered a lot since past year.

Furthermore, among the sectors, hospital based clinical research were most severely affected.

U.S., Europe, and Asia Pacific Molecular Diagnostics Market Restraint

High cost of instruments and regulatory framework in developed economies (Canada and most of Western Europe) are hampering growth of the U.S., Europe, and Asia Pacific Molecular Diagnostics Market.

According to National Library of Medicine, the regulatory landscape struggles to manage the concerns for molecular diagnostics, by treating diagnostics on primary base whether the kit is sold or offered, rather than based on risk. According to National Library of Medicine, in the U.S., the regulatory system for diagnostics is problematic, with inconsistent regulatory pathways and weakness.

Key Players

Major players operating in the U.S., Europe, and Asia Pacific Molecular Diagnostics Market include Abbott Laboratories, Hologic, Inc., Grifols, S.A., Qiagen N.V., F.Hoffmann-La Roche Ltd., Siemens Healthineers, Becton, Dickinson and Company, Beckmann Coulter, Inc., Bio-Rad Laboratories, and Thermo Fisher Scientific Inc.

Frequently Asked Questions

The U.S., Europe, and Asia Pacific molecular diagnostics market is estimated to be valued at US$ 7,147 million in 2021 and is expected to exhibit a CAGR of 10.7% over the forecast period (2021-2028).

Increasing applications of biomarkers, new product launches by market players with increasing government initiatives, increasing demand for molecular diagnostic tests are the major factors which are expected to drive the market growth over the forecast period.

PCR-based technology segment is expected to hold major market share over the forecast period.

Major factors hampering growth of the market include high cost of instruments and regulatory framework in developed economies.

Major players operating in the market include Abbott Laboratories, Hologic, Inc., Grifols, S.A., Qiagen N.V., F.Hoffmann-La Roche Ltd., Siemens Healthineers, Becton, Dickinson and Company, Beckmann Coulter, Inc., Bio-Rad Laboratories, and Thermo Fisher Scientific Inc.