The global Infectious Disease Molecular Diagnostics Market was valued at around USD 34 billion in 2021.
With a projected CAGR of 4.2% for the next ten years, the market is likely to reach a valuation of nearly USD 53 billion by the end of 2032. Developers are increasingly relying on scientific developments from a variety of fields rather than the traditional methods that required the culture of the pathogens. Molecular diagnostics is one of the fields in infectious Disease identification that is expanding the fastest.
| Report Attributes | Details |
|---|---|
| Infectious Disease Molecular Diagnostics Market Size (2021A) | USD 34.0 billion |
| Estimated Market Value (2022E) | USD 35 billion |
| Forecasted Market Value (2032F) | USD 53 billion |
| Global Market Growth Rate (2022 to 2032) | 4.2% CAGR |
| United States Growth Rate (2022 to 2032) | 4.3% CAGR |
| Key Companies Covered | Abbott; Danaher Corporation; bioMérieux SA; F. Hoffmann-La Roche Ltd; Bio-Rad Laboratories, Inc.; Agilent Technologies, Inc.; Becton, Dickinson, and Company; Hologic, Inc. (Gen-Probe); Illumina, Inc.; Grifols S.A.; Qiagen; Siemens Healthineers AG; Sysmex Corporation |
The global market for the Infectious Disease Molecular Diagnostics Market expanded at a CAGR of 3.8% over the last four years (2017 to 2021). Future Market Insights’ analysis reveals that in 2022 revenue through the market is estimated at USD 39.5 billion. With an absolute dollar opportunity of USD 18 billion from 2022 to 2032, the market is projected to reach a valuation of USD 53 billion by 2032.
The USA will continue to be the largest consumer of the Infectious Disease Molecular Diagnostics Market throughout the analysis period accounting for over USD 5.8 billion absolute dollar opportunity in the coming 10-year period
Global outbreaks of deadly infectious diseases caused by pathogenic microorganisms have threatened public health worldwide and significantly motivated researchers to develop rapid and accurate detection methods for pathogens. Culture-based techniques are considered gold standards for pathogen detection globally.
However, the long result time associated with these techniques due to overnight culturing and limited pathogen isolation has slowed their demand to a certain extent. Over the past several years, innovations in molecular diagnostic technology and their use have fundamentally altered the ability to handle infectious diseases. It provides quicker and more reliable results at 30% less cost to the customers.
Although still in its infancy, pharmacogenomics has the potential to grow into a rich industry as demand for tailored medication rises. As the driving force behind the transition to personalized medicine, many pharmaceutical companies are assessing revenue models based on molecular diagnostics for pharmacogenomics testing.
One of the key factors limiting the growth of the infectious disease molecular diagnostics market is inadequate reimbursements. The hurdles to getting Medicare insurance to pay for diagnostic tests are a significant concern for diagnostic organizations.
In 2018, Medicare in the USA tightened constraints on I.V.D. diagnostic claims, which affected molecular diagnostic tests in particular. These molecular pathology tests might be billed using unlisted medical codes rather than the American Medical Association's Current Procedural Terminology (CPT) numbers. Medicare Administrative Contractors (MACs) set the allowable cost amount for the billing locality in these cases.
The entirety of the clinical lab will gradually be expected to execute molecular diagnostics testing on a regular basis. Venture capitalists, who formerly preferred not to make investments in this area, will progressively grow more enthusiastic about investing in molecular diagnostic businesses as the field of molecular diagnostics progresses.
The American Cancer Society estimates that there will be 1.7 million new instances of cancer in the US this year and more than 606 thousand cancer-related deaths. Therefore, it is predicted that over the forecast period, the demand for molecular diagnostics would expand due to the rising incidence of cancer and increased public awareness of the importance of early cancer detection.
The development and global distribution agreement for molecular testing in Mexico to find new sexually-transmitted infections were announced by Becton Dickinson and Euroclone in February 2019. The market is projected to expand in the future due to rising diseases and innovation in North America.
The USA will account for over USD 16.9 billion of the global market by 2032. 6 out of 10 of America's adults have a chronic disease, and 4 out of 10 people have two or more diseases. , as of January 2021, according to a report made public by the National Center for Chronic Disease Prevention and Health Promotion.
The US FDA had received emergency use authorization requests from Becton, Dickinson, and Company, and BioGX Inc. for novel diagnostic tests, the two businesses announced in March 2020.
The market in the UK is expected to reach USD 2.2 billion, growing from USD 1.5 billion in 2021. The market in the country is projected to expand at a CAGR of 3.5% from 2022 to 2032, and prosper with an absolute dollar opportunity of USD 644 million.
The market in Japan is expected to gross an absolute dollar opportunity of USD 981 million from 2022 to 2032. During this period, the market is projected to register a CAGR of 5.9% to reach a market size of USD 2.3 billion by 2032.
The market in South Korea is expected to gross an absolute dollar opportunity of USD 400 million from 2022 to 2032. The market is likely to reach a valuation of USD 1.1 billion by 2032.
The Polymerase Chain Reaction (PCR) segment account for over 30% of the technology category of the global Infectious Disease Molecular Diagnostics Market. The market growth from 2017 to 2021 was estimated at 4.4% CAGR. A qualitative outcome of a PCR investigation may be required for the detection of genetic polymorphisms, inherited disorders, somatic mutations, including cancer, and the presence of viral or microbial infections.
Quantitative PCR is increasingly needed, for instance, to assess a pathogen's titer, the quantity of infected or altered cells in a tissue, and the concentration of particular mRNAs.
PCR has several uses in medicine, including tissue typing for organ and tissue transplants. Commercially, HLA DQa locus analysis kits are currently readily available. The application of PCR for forensic purposes is associated with this application. The PCR can use this area, in particular, to take advantage of its extreme sensitivity.
At present, many diagnostics firms that were under-represented in this area have sought partners or acquisitions to gain exposure, reflecting the growing interest in personalized medicine.
The key companies operating in the market include F. Hoffmann-La Roche Ltd., Hologic, Inc., Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Abbott Laboratories, bioMérieux SA, QIAGEN N.V., Myriad Genetics, Inc., Siemens Healthineers AG, Danaher Corporation, Illumina, Inc., Becton Dickinson and Company, Grifols, S.A., Quidel Corporation, Agilent Technologies, Inc., DiaSorin S.p.a. (Italy), Exact Sciences Corporation, Genetic Signatures, MDx Health, Biocartis NV, TBG Diagnostics Limited, HTG Molecular Diagnostics, Inc., Vela Diagnostics, Amoy Diagnostics Co., Ltd., ELITechGroup, Molbio Diagnostics Pvt. Ltd., Savyon Diagnostics, Abacus Diagnostica Oy, and geneOmbio Technologies Pvt. Ltd.
Some of the recent developments by key providers of Infectious Disease Molecular Diagnostics are as follows:
Similarly, recent developments related to companies manufacturing infectious disease molecular diagnostics kits have been tracked by the team at Future Market Insights, which is available in the full report.
The global Infectious Disease Molecular Diagnostics Market was valued at USD 34 billion in 2021.
The Infectious Disease Infectious Disease Molecular Diagnostics Market is set to witness a growth rate of 4.2% over the forecast period and be valued at USD 53 billion by 2032.
The Infectious Disease Infectious Disease Molecular Diagnostics Market expanded by 3.7% from 2017 through 2021.
The key players BD, BioMérieux SA, Bio-Rad Laboratories Inc., Abbott, and Agilent Technologies Inc. are shaping the Infectious Disease Molecular Diagnostics Market.
United States, United Kingdom, China, Japan, and South Korea are expected to drive the most sales growth in the Infectious Disease Molecular Diagnostics Market.
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Infectious Disease Molecular Diagnostics Market
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