Comparing 18 vendors in Molecular Diagnostics across 0 criteria.
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The Molecular Diagnostics Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Molecular Diagnostics. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 80 companies of which the Top 18 Molecular Diagnostics Companies were categorized and recognized as the quadrant leaders.
Molecular diagnostics is a technique that identifies and analyzes nucleic acids or proteins at a molecular level. This technique assesses the genetic makeup of an individual to identify a predisposition to any particular disease or condition and diagnose it.
The 360 Quadrant maps the molecular diagnostics companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Molecular Diagnostics’ quadrant. While the top criteria for product footprint evaluation included Product (Reagents & Kits, Instruments, Services & Software), Technology (Polymerase Chain Reaction, Isothermal Nucleic Acid Amplification Technology, DNA Sequencing & Next-generation Sequencing, DNA Microarrays, In Situ Hybridization, Other Technologies), Test Type (Lab Tests, PoC Tests), Application ((Infectious Disease Diagnostics (Hepatitis, HIV, CT/NG, HAI, HPV, Tuberculosis, Influenza, Other Infectious Diseases), Oncology Testing (Breast Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer, Other Cancers), Genetic Testing, COVID-19, Other Applications), Product Launches, Product Approvals, and R&D Expenditure.
Key trends highlighted in 360 Quadrant’s study include:
- The estimated value of the Molecular Diagnostics market in 2023 is USD 15.6 billion, with a projected reach of USD 26.8 billion by 2028, reflecting a notable CAGR of 11.4% during the forecast period. The driving forces behind this market growth include the escalating prevalence of infectious diseases and cancer, coupled with increased funding for Research and Development (R&D) in the field of molecular diagnostics. Molecular Diagnostics companies are poised to play a crucial role in advancing these innovative technologies.
- North America accounted for the largest share in the molecular diagnostics market, accounting for nearly 45%. The large share of North America in this market can be attributed to the increasing prevalence of infectious diseases and cancer, increasing healthcare spending, the highly developed healthcare system in the US and Canada. The region has a robust infrastructure for R&D, which has led to the rapid adoption of innovative diagnostic techniques and platforms. Also, North America has several major molecular diagnostics companies in the molecular diagnostics sector.
- During the forecast period, the Asia Pacific market is projected to experience the highest CAGR of 13.3%. This growth can be linked to several factors, including the escalating incidence of cancer, heightened governmental initiatives to enhance awareness of early disease detection, the increasing per capita income, the expansion of private-sector hospitals into rural regions across diverse Asia Pacific countries, and the existence of high-growth markets within the region. Furthermore, the region benefits from low labor costs and a favorable regulatory environment, factors that are anticipated to significantly contribute to the growth of the market. Molecular Diagnostics companies operating in the Asia Pacific region are well-positioned to capitalize on these conducive factors.
- In 2022, the lab tests segment dominated the market, capturing a significant share of 87.6%. This is primarily due to the escalating demand for automation and the increasing prevalence of infectious diseases, attracting the attention of molecular diagnostics companies. The surge in chronic diseases, including cancer, underscores the necessity for diagnostic tests, making lab tests indispensable for disease detection, monitoring, and treatment decision-making. Further, the expanding prevalence of chronic conditions intensifies the demand for a diverse array of lab tests within the field of molecular diagnostics.
- Based on applications, in 2022, the infectious disease diagnostics segment claimed the majority share, comprising 54.0% of the global molecular diagnostics market. This substantial share is credited to the advancement of sophisticated assays for diagnosing various diseases and conditions, the growing incidence of infectious diseases, and the increasing recognition of molecular diagnostics companies playing a pivotal role in effectively leveraging molecular diagnostic technologies/products to manage and curb the spread of infectious diseases.
- In 2022, the PCR segment claimed the largest market share, accounting for nearly 42% of the molecular diagnostics market. This dominance is attributed to the increasing utilization of PCR in proteomics and genomics, the automation of PCR instruments, and the emergence of advanced technologies like qRT-PCR. Additionally, advancements in technologies such as next-generation sequencing (NGS), and microarray techniques, have expanded the capabilities of molecular diagnostics, enabling the detection of a wide range of genetic and infectious diseases.
- The market for molecular diagnostics is highly competitive, with numerous companies offering a wide range of tests and platforms. Key molecular diagnostics companies in the industry include Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Thermo Fisher Scientific and Qiagen. These companies invest heavily in research and development to innovate and launch new products, aiming to improve sensitivity, specificity, and turnaround time of molecular diagnostic tests.
- In a strategic move, leading molecular diagnostics companies like Thermo Fisher Scientific Inc. (US) and F. Hoffmann-La Roche Ltd. (Switzerland) have been driving industry advancements. Thermo Fisher strengthened its specialty diagnostics portfolio by acquiring Binding Site Group (UK) in February 2023, expanding capabilities for multiple myeloma diagnostics. In October 2022, Roche received FDA clearance for the cobas SARSCoV-2 Qualitative PCR test. Additionally, F. Hoffmann-La Roche collaborated with the Global Fund in May 2022 to enhance diagnostics infrastructure in low- and middle-income countries.
The Full List
|Company||Headquarters||Year Founded||Holding Type|
|Agilent||Santa Clara, USA||1999||Public|
|BD||Franklin Lakes, USA||1897||Public|
|Danaher||Washington, D.C., USA||1984||Public|
|Illumina||San Diego, USA||1998||Public|
|Myriad Genetics||Salt Lake City , USA||1991||Public|
|QuidelOrtho||San Diego, USA||1979||Public|
|Siemens Healthineers||Erlangen, Germany||1847||Public|
|Thermo Fisher||Waltham, USA||1956||Private|