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  • Published On : Feb 2022
  • Code : CMI4919
  • Industry : Medical Devices
  • Pages : 90
  • Formats :

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 APAC Molecular Diagnostics  | Coherent Market Insights

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

U.S., Europe, and APAC Molecular Diagnostics  | Coherent Market Insights

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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 APAC Molecular Diagnostics  | Coherent Market Insights

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

U.S., Europe, and APAC Molecular Diagnostics  | Coherent Market Insights

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.

For detecting the disturbance between specific sequences in DNA or RNA, molecular diagnostics tests are used, which may be associated with disease. The other factors which lead to various diseases are disturbance between single nucleotide polymorphism, rearrangements, insertions, and others. Infectious diseases, virology, oncology and STDs are the diseases that are diagnosed by utilizing molecular diagnostic test.

Molecular diagnostics has the capacity of detecting specific disease which access in supplying accurate medicine to patients. On research and development of precision medicine various government economies are focused on diagnostic tests, which is estimated to drive the growth of the U.S., Europe, and Asia Pacific molecular diagnostics market over the forecast period.

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

Market Dynamics

Increasing applications of biomarkers, new product launches by market players with increasing government initiatives, increasing demand for molecular diagnostic tests, and increasing adoption of inorganic growth strategies such as mergers, acquisitions, partnerships, and collaborations by key players operating in the market are the major factors that are expected to drive growth of the U.S., Europe, and Asia Pacific molecular diagnostics market.

The growth of molecular diagnostics market is expected to increase the research and development for identification of biomarkers which leads to new molecular diagnostic tests development. For instance, in February 2018, authorization to Banyan Biomarkers, Inc., a biotech company, was given by the U.S. FDA (Food and Drug Administration) for traumatic brain injury, for first diagnostic blood test.

Key features of the study:

  • This report provides in-depth analysis of the U.S., Europe, and Asia Pacific molecular diagnostics market provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the U.S., Europe, and Asia Pacific molecular diagnostics market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study 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.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The U.S., Europe, and Asia Pacific molecular diagnostics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the U.S., Europe, and Asia Pacific molecular diagnostics market

Detailed Segmentation:

  • U.S., Europe, and Asia Pacific Molecular Diagnostics Market, by Product Type:
    • Reagents
    • Kits & Instruments
  • U.S., Europe, and Asia Pacific Molecular Diagnostics Market, by Technology:
    • PCR-based
      • Liquid Biopsy Testing
      • Tissue Testing
    • NGS-based
      • Liquid Biopsy Testing
      • Tissue Testing
  • U.S., Europe, and Asia Pacific Molecular Diagnostics Market, by Application:
    • Genetic Testing
    • Oncology
    • Microbiology
    • STDs
    • Blood Screening
    • Virology
    • Tissue Typing
    • Prenatal Diagnosis
    • Others
  • U.S., Europe, and Asia Pacific Molecular Diagnostics Market, by End Users:
    • Hospitals
    • Clinics
    • Ambulatory Surgery Centers
  • U.S., Europe, and Asia Pacific Molecular Diagnostics Market, by Country:
    • U.S.
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Company Profiles
    • Abbott Laboratories*
      • Company highlights
      • Product Portfolio
      • Key Highlights
      • Financial performance
      • Strategies
    • Hologic, Inc.
    • Grifols, S.A.
    • Qiagen N.V.
    • Hoffmann-La Roche Ltd.
    • Siemens Healthineers,
    • Becton, Dickinson and Company,
    • Beckmann Coulter, Inc.
    • Bio-Rad Laboratories
    • Thermo Fisher Scientific Inc.

“*” marked represents similar segmentation in other categories in the respective section.

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.

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