The global molecular diagnostics market is anticipated to grow at a considerable CAGR of 9.9% during the forecast period (2024-2031). The COVID-19 virus is mutating rapidly and till now around 24 new variants have been detected. According to scientific research, each variant has different transmissibility rates and symptoms. This virus had shaken the whole world with fear and due to this everyone wants to rush towards vaccination. This all requires a rapid increase in research and manufacturing of medicines and medical equipment which had grown the molecular diagnostics market. All governments and market players are now strictly focused on COVID-19 by cornering other diseases. Testing kits and reagents for COVID-19 diagnosis are the major products of every company in this field.
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Getinge AB had developed autoclavable and single-use bioreactors for the research and development of the COVID-19 vaccine. F. Hoffmann-La Roche Ltd. launched the Cobas SARS-CoV-2 variant test to detect spike mutations of COVID-19. PCR Biosystems Ltd. had launched the qPCRBIO Probe 1-Step Virus Detect which is ultrasensitive to detect viral RNA sequences, including COVID-19. Similarly, FUJIFILM Holdings Corp. had launched FUJIFILM COVID-19 Ag Test which is a rapid antigen test kit for COVID-19. Also, they had launched SARS-CoV-2 RT-qPCR Detection Kit Ver. 2 with SARS-CoV-2 Lysis Buffer, a pretreatment reagent through which results can be obtained in just one hour. The other market players are also working hard to be competitive in the market. The COVID-19 related products alone are bringing huge sales to all the companies involved in the market and are expected to grow more during the forecast period.
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Market Coverage
- Segment Covered-
o By Technology
o By Product
o By Applications
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Becton Dickinson and Co., Abbott Laboratories, Inc., bioMérieux S.A., Bio-Rad Laboratories, Inc., Danaher Corporation, Nanopore Technologies, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Molecular Diagnostics Market Report Segment
By Technology
- Polymerase Chain Reaction (PCR)
- In Situ Hybridization (ISH)
- DNA Microarray
- Next-Generation Sequencing (NGS)
- Isothermal Nucleic Acid Amplification
- Other Technologies
By Product
- Testing Equipment
- Diagnostic Reagents and Kits
- Services & Software
By Applications
- Infectious Diseases (including COVID-19)
- Cancer
- Cardiovascular Disease (CVD)
- Genetic Testing
- Neurological Disease
- Other (Microbiology and Forensic Science)
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