Global Molecular Diagnostics Market Analysis, Trends and Forecasts with Profiles of Leading Players Including Abbott Laboratories, bioMrieux SA, Cepheid, Hologic Inc. and Thermo Fischer Scientific Inc.
Amid the COVID-19 crisis and the looming economic recession, the Molecular Diagnostics market worldwide will grow by a projected US$6 Billion, during the analysis period, driven by a revised CAGR of 7.8%. PCR, one of the segments analyzed and sized in this study, is forecast to grow at over 9.5% and reach a market size of US$5.7 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The PCR market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 6.2% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$179.5 Million to the region's size over the next 7 to 8 years. In addition, over US$166.9 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the PCR segment will reach a market size of US$200.2 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Molecular Diagnostics market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 12.8% over the next couple of years and add approximately US$1.6 Billion in terms of addressable market opportunity.
Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Molecular Diagnostics market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others:
Becton, Dickinson and Company
F. Hoffmann-La Roche Ltd
Grifols International S.A.
Quest Diagnostics Inc.
Tecan Group Ltd.
Thermo Fischer Scientific Inc.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Global In-Vitro Diagnostics (IVD) Market on a Steady Growth Path
Recent Market Activity
Molecular Diagnostics - A Rapidly Expanding Segment of the IVD Market
PCR Technology Leads the MDx Market
Current and Future Analysis
US and Europe - Leaders in Molecular Diagnostics Adoption
Developing Countries Excel in Growth Prospects
Major Growth Drivers
Key Market Trends in a Nutshell
Major Technology Trends
Oncology Molecular Diagnostics to Witness Rapid Growth
Reagents and Kits Dominate the Molecular Diagnostics Market
Based on Test Location
Product Innovations Rife in POC Molecular Diagnostics Market
Advancements in Molecular Diagnostics - A Boon for the Industry
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