The Molecular Diagnostics Market to grow at a CAGR of 5.96% from 2022 to 2027|Integration of next-generation sequencing (NGS) to be a major trend - Technavio

NEW YORK, Aug. 1, 2023 /PRNewswire/ -- The molecular diagnostics market is forecast to increase by USD 7,722.71 million from 2022 to 2027, at a CAGR of 5.96%, according to a recent market study by Technavio. The growth of the market will be driven by the Increased prevalence of age-related diseases, Global adoption of advanced treatment solutions, and High demand from developing countries. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Molecular Diagnostics Market 2023-2027 – Vendor Scope

Technavio has extensively analyzed 15 major vendors, including Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Biocartis Group NV, bioMerieux SA, Danaher Corp., ELITechGroup SAS, F. Hoffmann La Roche Ltd., Genome Diagnostics Pvt. Ltd., Hologic Inc., Illumina Inc., QIAGEN NV, Siemens Healthineers AG, SOLONE LIFE SCIENCES INDIA PVT LTD., Spectrum Diagnostics and Health Care, Sysmex Corp., Thermo Fisher Scientific Inc., U GEN BIOTECHNOLOGY INC, and Xiamen Zeesan Biotech Co. Ltd.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Molecular Diagnostics Market - Segmentation Assessment

The market is segmented by product (instruments, reagents, and kits), application (infectious disease, oncology, blood screening, microbiology, and others), and geography (Asia, Europe, North America, and Rest of World (ROW))

• The market share growth by the instruments segment will be significant during the forecast period. The demand for molecular diagnostic instruments is driven by ongoing research and development efforts. Advances include the development of faster and more accurate nucleic acid amplification techniques such as polymerase chain reaction (PCR) and isothermal amplification. Additionally, the emergence of next-generation sequencing (NGS) platforms has changed genomic analysis.  Hence, these factors are expected to drive segment growth during the forecast period.
• Asia is estimated to contribute 34% to the growth of the global market during the forecast period. The rising middle-class population in Asia and the increasing healthcare expenditures have led to a higher demand for advanced medical services, including molecular diagnostics. Furthermore, Asia has emerged as a favored destination for medical tourism, attracting individuals seeking advanced healthcare services, which also include molecular diagnostic testing. China, India, and Japan have faced outbreaks of infectious diseases like COVID-19, dengue, tuberculosis, and hepatitis, leading to a surge in the demand for molecular diagnostic tests to detect and monitor these diseases.

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Molecular Diagnostics Market – Market Dynamics

Key Driver

Increasing early detection of age-related diseases is a key factor driving the growth of the market. Studies show that rising geriatric population has an impact on the demand for molecular diagnostics. This is because age-related diseases, such as cardiovascular diseases, cancer, neurodegenerative disorders, and chronic conditions like diabetes, are seen as more susceptible in the individual's age. Molecular diagnostics play an important role in the timely detection, diagnosis, and surveillance of such diseases. These provide personalized information about an individual's genetic predisposition, disease symptoms, disease progression, response to treatment, and more. Molecular diagnostics enable targeted screening and preventative measures by identifying genetic risk factors for specific diseases. Therefore, these factors are expected to drive market growth during the forecast period.

Major Trends

Integration of next-generation sequencing (NGS) is a major trend in the market. Next-generation sequencing technologies have brought about a revolution in molecular diagnostics by enabling in-depth analysis of genetic data. Furthermore, NGS enables comprehensive analysis across multiple genes or the entire genome, leading to comprehensive genetic profiling for disease diagnosis, symptom understanding, and treatment selection. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

Inadequate medical reimbursements are a significant challenge restricting market growth. The importance of medical reimbursement arises from the high cost of modern diagnostic products. For example, in the US, the Centers for Medicare and Medicaid Services offer reimbursements for certain diagnostic test kit products. Factors such as rising healthcare costs and growing demand for therapeutic services are impacting reimbursement structures in the US and European countries. Hence, Inadequate medical reimbursements are expected to restrict market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Molecular Diagnostics Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the molecular diagnostics market between 2023 and 2027
• Precise estimation of the size of the molecular diagnostics market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the molecular diagnostics market across Asia, Europe, North America, and the Rest of the World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of molecular diagnostics market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global molecular diagnostics market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global molecular diagnostics market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Instruments - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Instruments - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Instruments - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Instruments - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Instruments - Year-over-year growth 2022-2027 (%)

• 6.4 Reagents and kits - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Reagents and kits - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Reagents and kits - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Reagents and kits - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Reagents and kits - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product ($ million)
• Exhibit 43: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Infectious disease - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Infectious disease - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Infectious disease - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Infectious disease - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Infectious disease - Year-over-year growth 2022-2027 (%)

• 7.4 Oncology - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Oncology - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Oncology - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Oncology - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Oncology - Year-over-year growth 2022-2027 (%)

• 7.5 Blood screening - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Blood screening - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Blood screening - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Blood screening - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Blood screening - Year-over-year growth 2022-2027 (%)

• 7.6 Microbiology - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Microbiology - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Microbiology - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Microbiology - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Microbiology - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Application 
• Exhibit 68: Market opportunity by Application ($ million)
• Exhibit 69: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 Asia - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 107: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Abbott Laboratories
• Exhibit 119: Abbott Laboratories - Overview
• Exhibit 120: Abbott Laboratories - Business segments
• Exhibit 121: Abbott Laboratories - Key news
• Exhibit 122: Abbott Laboratories - Key offerings
• Exhibit 123: Abbott Laboratories - Segment focus

• 12.4 Agilent Technologies Inc. 
• Exhibit 124: Agilent Technologies Inc. - Overview
• Exhibit 125: Agilent Technologies Inc. - Business segments
• Exhibit 126: Agilent Technologies Inc. - Key offerings
• Exhibit 127: Agilent Technologies Inc. - Segment focus

• 12.5 Becton Dickinson and Co. 
• Exhibit 128: Becton Dickinson and Co. - Overview
• Exhibit 129: Becton Dickinson and Co. - Business segments
• Exhibit 130: Becton Dickinson and Co. - Key news
• Exhibit 131: Becton Dickinson and Co. - Key offerings
• Exhibit 132: Becton Dickinson and Co. - Segment focus

• 12.6 Bio Rad Laboratories Inc. 
• Exhibit 133: Bio Rad Laboratories Inc. - Overview
• Exhibit 134: Bio Rad Laboratories Inc. - Business segments
• Exhibit 135: Bio Rad Laboratories Inc. - Key news
• Exhibit 136: Bio Rad Laboratories Inc. - Key offerings
• Exhibit 137: Bio Rad Laboratories Inc. - Segment focus

• 12.7 bioMerieux SA
• Exhibit 138: bioMerieux SA - Overview
• Exhibit 139: bioMerieux SA - Product / Service
• Exhibit 140: bioMerieux SA - Key offerings

• 12.8 Danaher Corp.
• Exhibit 141: Danaher Corp. - Overview
• Exhibit 142: Danaher Corp. - Business segments
• Exhibit 143: Danaher Corp. - Key news
• Exhibit 144: Danaher Corp. - Key offerings
• Exhibit 145: Danaher Corp. - Segment focus

• 12.9 F. Hoffmann La Roche Ltd. 
• Exhibit 146: F. Hoffmann La Roche Ltd. - Overview
• Exhibit 147: F. Hoffmann La Roche Ltd. - Business segments
• Exhibit 148: F. Hoffmann La Roche Ltd. - Key news
• Exhibit 149: F. Hoffmann La Roche Ltd. - Key offerings
• Exhibit 150: F. Hoffmann La Roche Ltd. - Segment focus

• 12.10 Hologic Inc.
• Exhibit 151: Hologic Inc. - Overview
• Exhibit 152: Hologic Inc. - Business segments
• Exhibit 153: Hologic Inc. - Key news
• Exhibit 154: Hologic Inc. - Key offerings
• Exhibit 155: Hologic Inc. - Segment focus

• 12.11 Illumina Inc.
• Exhibit 156: Illumina Inc. - Overview
• Exhibit 157: Illumina Inc. - Business segments
• Exhibit 158: Illumina Inc. - Key news
• Exhibit 159: Illumina Inc. - Key offerings
• Exhibit 160: Illumina Inc. - Segment focus

• 12.12 QIAGEN NV
• Exhibit 161: QIAGEN NV - Overview
• Exhibit 162: QIAGEN NV - Product / Service
• Exhibit 163: QIAGEN NV - Key news
• Exhibit 164: QIAGEN NV - Key offerings

• 12.13 Siemens Healthineers AG 
• Exhibit 165: Siemens Healthineers AG - Overview
• Exhibit 166: Siemens Healthineers AG - Business segments
• Exhibit 167: Siemens Healthineers AG - Key news
• Exhibit 168: Siemens Healthineers AG - Key offerings
• Exhibit 169: Siemens Healthineers AG - Segment focus

• 12.14 SOLONE LIFE SCIENCES INDIA PVT LTD. 
• Exhibit 170: SOLONE LIFE SCIENCES INDIA PVT LTD. - Overview
• Exhibit 171: SOLONE LIFE SCIENCES INDIA PVT LTD. - Product / Service
• Exhibit 172: SOLONE LIFE SCIENCES INDIA PVT LTD. - Key offerings

• 12.15 Spectrum Diagnostics and Health Care 
• Exhibit 173: Spectrum Diagnostics and Health Care - Overview
• Exhibit 174: Spectrum Diagnostics and Health Care - Product / Service
• Exhibit 175: Spectrum Diagnostics and Health Care - Key offerings

• 12.16 Sysmex Corp.
• Exhibit 176: Sysmex Corp. - Overview
• Exhibit 177: Sysmex Corp. - Business segments
• Exhibit 178: Sysmex Corp. - Key offerings
• Exhibit 179: Sysmex Corp. - Segment focus

• 12.17 Thermo Fisher Scientific Inc. 
• Exhibit 180: Thermo Fisher Scientific Inc. - Overview
• Exhibit 181: Thermo Fisher Scientific Inc. - Business segments
• Exhibit 182: Thermo Fisher Scientific Inc. - Key news
• Exhibit 183: Thermo Fisher Scientific Inc. - Key offerings
• Exhibit 184: Thermo Fisher Scientific Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 185: Inclusions checklist
• Exhibit 186: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 187: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 188: Research methodology
• Exhibit 189: Validation techniques employed for market sizing
• Exhibit 190: Information sources

• 13.5 List of abbreviations
• Exhibit 191: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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