DUBLIN--(BUSINESS WIRE)--The "Molecular Diagnostics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
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:
- Abbott Laboratories
- Becton, Dickinson and Company
- bioMrieux SA
- F. Hoffmann-La Roche Ltd
- Grifols International S.A.
- Hologic Inc.
- QIAGEN N.V.
- Quest Diagnostics Inc.
- Siemens Healthineers
- 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
- Leading Players
- 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
- Major Challenges
- Market Outlook
- Global Competitor Market Shares
- Molecular Diagnostics Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Aging Population Drives Molecular Diagnostics Market
- Global Aging Population Statistics - Opportunity Indicators
- Technological Innovations Set to Drive the Market
- The Role of Molecular Diagnostics in Personalized Medicine
- Select Key Approved Personalized Medicines and Associated Biomarkers by Therapeutic Area
- Companion Diagnostics Drive Personalized Medicine
- List of FDA Approved Complementary and Companion Diagnostic Assays
- Biomarkers as Companion Diagnostics
- Rise in Healthcare Spending in Developing Nations Bode Well for Market Growth
- Proteomics Technologies: Growing in Significance
- New Developments in Proteomics Technologies
- New Applications Hold Promising Potential
- Molecular Diagnostics for Lymphoid Malignancies
- Next-Generation Sequencing (NGS) Technologies Keep Up the Momentum
- Select NGS Platforms Available in the Market
- Rising Emphasis on Lab Automation to Augur Well for Market Growth
- List of Fully Automated and Rapid Molecular Diagnostics
- Molecular Diagnostics and Intellectual Property
- Molecular Diagnostics - Moving from Centralization to Decentralization
Limited Reimbursements by Third Party Payers - A Stumbling Block
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
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