Molecular Diagnostics Market By Competitive Landscape, Size, Applications, Pricing Analysis and Opportunities Forecast to 2030, Fortune Business Insights

Kenneth Research, in its repository of market research reports, have recently added a report on Molecular Diagnostics Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Molecular Diagnostics Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Molecular Diagnostics Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Molecular Diagnostics Market is valued approximately at USD 8.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.5% over the forecast period 2020-2026. The molecular diagnostics is a technique used to examine biological markers  involved in a broad range of human ailments. Molecular diagnostic tests are the basic part of a successful healthcare system. Molecular diagnostic tests deliver vital information that helps healthcare patients and providers to make  accurate medical decisions for better outcome of a medical procedure. This technique often provides quantitative measurements that inform each stage of care and facilitate successful management of health circumstances. Molecular diagnostics tools enhance the clinical setting, offer sensitive and rapid approaches for the identification and monitor  various infectious diseases such as types of cancer, and other chronic diseases. Thus, rise in the incidences of infectious diseases and cancer owing to growing elderly population, along with the growing awareness and acceptance of personalized medicine and companion diagnostics are the few factors responsible for high CAGR of the market over the forecast period.

According to the International Agency for Research on Cancer (IARC), in 2018, there were around 17.0 million new cancer cases and 9.5 million cancer deaths registered throughout the world. Also, the global burden of cancer is expected to grow to almost 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. This, in turn, is expected to accelerate the demand for Molecular Diagnostics, thus contributing to the growth of the global market. However, complex regulatory frameworks delaying the approval of new molecular diagnostic tests are the few factors expected to hamper the growth of the market over the forecast period of 2020-2026.

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The regional analysis of global Molecular Diagnostics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising prevalence of cancer and infectious diseases, presence of a well-developed healthcare infrastructure and rapid rise in clinical laboratories across the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to increased healthcare spending by a larger population base and growing aging population in the countries like China and India.

Major market player included in this report are:
Abbott Laboratories
Becton, Dickinson and Company
Agilent Technologies, Inc.
Biomérieux Sa
Danaher Corporation
DiaSorin
Grifols, S.A.
Hologic, Inc.
Illumina, Inc.
Thermo Fisher Scientific, Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product & Services:
Reagents & Kits
Instruments
Services & Software

By Technology:
Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology (INAAT)
DNA Sequencing & Next-Generation Sequencing (NGS)
DNA Microarray
Others

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By Application:
Infectious Diseases
Oncology
Genetic Tests
Others

By End-User:
Hospital & Academic Laboratories
Reference Laboratories
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026

Target Audience of the Global Molecular Diagnostics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Molecular Diagnostics Market, by Region, 2018-2026 (USD Billion)
1.2.2. Molecular Diagnostics Market, by Product & Services, 2018-2026 (USD Billion)
1.2.3. Molecular Diagnostics Market, by Technology, 2018-2026 (USD Billion)
1.2.4. Molecular Diagnostics Market, by Application, 2018-2026 (USD Billion)
1.2.5. Molecular Diagnostics Market, by End-User, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Molecular Diagnostics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Molecular Diagnostics Market Dynamics
3.1. Molecular Diagnostics Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Molecular Diagnostics Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Molecular Diagnostics Market, by Product & Services
5.1. Market Snapshot
5.2. Global Molecular Diagnostics Market by Product & Services, Performance – Potential Analysis
5.3. Global Molecular Diagnostics Market Estimates & Forecasts by Product & Services 2016-2026 (USD Billion)
5.4. Molecular Diagnostics Market, Sub Segment Analysis
5.4.1. Reagents & Kits
5.4.2. Instruments

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