Molecular Diagnostics Reagent Market

Molecular Diagnostics Reagent Market Study by Sample Preparation Kits, PCR Assay Kits, In situ Hybridization Kits, Microarray Kits, and Sequencing Kits from 2024 to 2034

Analysis of Molecular Diagnostics Reagent Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Molecular Diagnostics Reagent Market Outlook (2024 to 2034)

The molecular diagnostics reagent market size is anticipated to accelerate at a 6.6% CAGR from 2024 to 2034. The global demand for molecular diagnostic reagents is expected to attain US$ 20,009.6 million by 2034, from an estimated US$ 10,584.3 million market size in 2024.

Since infectious diseases and other cancer variations are becoming prevalent, there has been a noticeable increase in demand for molecular diagnostics reagents, fueling the market. Increasing biomarker discovery and rising awareness and acceptance of tailored medication dosages are predicted to support the market.

Contributing Elements to the Upward Trajectory of the Molecular Diagnostics Reagent Market

One major factor boosting the market is the increase in cases of infectious diseases. To effectively manage and control the spread of diseases, molecular diagnostics is essential for quickly and precisely detecting infections.

The industry is expanding due to government programs that encourage financial support for molecular diagnostics research and development. Public health initiatives and capital expenditures influence the healthcare sector's demand for molecular diagnostics reagents.

An increase in the prevalence of chronic diseases is linked to the demographic change towards an aging population. The need for the early identification and monitoring of numerous diseases in the elderly population is fueling the market demand.

The rising trend towards precision medicine and personalized treatments depending on a patient's genetic composition is increasing the sales of molecular diagnostics reagents, as they are essential for locating particular biomarkers for focused therapies.

Report Attributes Details
Estimated Market Value (2024E) US$ 10,584.3 million
Forecasted Market Value (2034F) US$ 20,009.6 million
Global Market Growth Rate (2024 to 2034) 6.6%
Sequencing Kit Segment Growth Rate (2024 to 2034) 7.4%
Pathogen Detection Segment Growth Rate (2024 to 2034) 6.7%
North America Market Share (2024) 6.4%
East Asia Market Share (2024) 7.0%
Key Companies Profiled
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories Inc
  • Thermo Fisher Scientific Inc.
  • Merck KGaA
  • Agilent Technologies, Inc.
  • Qiagen N.V.
  • Illumina, Inc.
  • DiaSorin S.p.A
  • Hologic Inc.
  • Others

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Which Factors are Constraining the Molecular Diagnostics Reagent Market?

“Absence of Defined Methods and Guidelines and Ethical Issues”

Molecular diagnostic tests and related reagents prove costly compared to conventional diagnostic techniques. The high cost inhibits molecular diagnostic testing adoption, particularly in healthcare settings with limited resources and financial constraints. The absence of defined methods and guidelines hampers the adoption of molecular diagnostic testing. Test reliability and findings decrease due to inconsistent procedures used in different laboratories and platforms.

When using molecular diagnostics, sensitive genetic data must be gathered and analyzed. Healthcare practitioners and patients can be reluctant due to worries about data security, privacy, and ethical issues. The technologies used for molecular diagnostics are developing, and their complexity makes their general adoption difficult. One potential barrier to the accessibility and adoption of molecular biology techniques is a lack of specific training and competence in the workforce.

Country-wise Analysis

The molecular diagnostics reagent market in North America is set to develop at a CAGR of 6.4% through 2034. The rising demand for molecular diagnostics reagents in major countries, especially the United States and Canada, is the primary catalyst behind the spike. The United States tops the molecular diagnostics technology industry with an estimated share of 79.2%.

The market in East Asia is expected to advance at a 7.0% CAGR through 2034. Japan has emerged as the dominant force, with a 53.7% market share in East Asia.

What is Driving the North America Molecular Diagnostics Reagent Market?

“Adoption of Advanced Diagnostic Technologies Shaping the Market”

The United States is the leading market with a focus on innovation and reagent adoption for molecular diagnostics. The rising focus on substantial investment in research and development and increasing emphasis on tailored healthcare treatments are propelling market growth. In 2024, the United States is poised to hold a 79.8% market share.

Attributes Details
United States Market CAGR 6.3%
United States Market Size (2024) US$ 3000 million
Canada Market CAGR 7.0%
Canada Market Size (2024) US$ 498 million

In line with global health trends, Canada's demand for molecular diagnostic reagents is rising due to the emphasis on environmentally friendly and sustainable healthcare solutions. The rising incidence of infectious diseases in Canada is creating a greater need for early diagnosis, which in turn is pushing up the price of molecular diagnostics reagents. Canada is going to capture a 13.3% market share in 2024.

What is Fueling Growth in the Asia Pacific Molecular Diagnostics Reagent Market?

“Government Initiatives Promoting Precision Medicine and Adoption of Molecular Diagnostics Reagents”

Japan's dedication to personalized healthcare aligns with the demand for highly specialized and customized molecular diagnostics reagents driven by the country's predominance of precision medicine efforts. A distinct market dynamic for molecular diagnostics reagents, with an emphasis on treating age-related diseases and ailments, is created by Japan's aging population. Japan is expected to garner a 52% market share in 2024.

Attributes Details
Japan Market CAGR 7.3%
Japan Market Size (2024) US$ 913 million
China Market CAGR 6.03%
China Market Size (2024) US$ 524 million

China's development and adoption of novel molecular diagnostic reagents are accelerated by incorporating artificial intelligence and modern technologies into healthcare systems. The demand for molecular diagnostics reagents is stimulated by China's growing emphasis on preventive healthcare, which aligns with a broader trend toward proactive illness management. In 2024, China is projected to hold a 29.9% market share.

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Category-wise Outlook

Based on the product type, the PCR assay kits segment is estimated to hold a 26.7% of the global molecular diagnostics reagent market share. Simultaneously, the sample preparation kits segment is anticipated to secure a noteworthy 22% share, contributing significantly to the market. Based on the end user, the therapeutic monitoring segment marks its dominance, with a share of 32.9%.

Why is Demand for PCR Assay Kits Rising in the Molecular Diagnostics Reagent Market?

“Continuous Advancements in PCR Technology to Spur Sales of PCR Assay Kits”

PCR Assay Kits Details
Market Size (2024) US$ 2,946.6 million
Market Share (2024) 27.8%

Innovation is sustained by ongoing improvements in PCR technology, which keeps PCR assay kits at the top of the molecular diagnostics reagent industry. The popularity of PCR assays in detecting and quantifying target nucleic acids is attributed to their high sensitivity and specificity.

PCR technique is the method of choice for routine diagnostic applications due to its cost-effectiveness and quick response time. From 2024 to 2034, the PCR assay kit segment is expected to develop at a CAGR of 6.1%.

What Makes the Therapeutic Monitoring Segment the Frontrunner in the Market?

“Therapeutic Monitoring Plays a Pivotal Role in Tailoring Treatments”

Therapeutic Monitoring Details
Market Size (2024) US$ 3,572.2 million
Market Share (2024) 33.7%

Its critical influence on physicians' choices and advancing efficient and customized patient care strengthens the segment's leadership. Therapeutic monitoring lowers the need for pointless therapies and their related expenses, which helps the category command the molecular diagnostics reagent market.

The therapeutic monitoring segment is leading because it helps in treatment customization, reducing adverse effects, and improving patient outcomes. The segment is expected to evolve at a CAGR of 6.3% from 2024 to 2034.

Competition Analysis

Key players in the molecular diagnostics reagent market include Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Merck KGaA, Agilent Technologies, Inc., Qiagen N.V., Illumina, Inc., DiaSorin S.p.A, Hologic Inc., and Others.

Key molecular diagnostics reagent vendors are engaged in fierce competition as they vie for higher profits in the market. To improve their market position, major market players concentrate on strategic activities such as collaborations, mergers, acquisitions, and product innovations.

Technological breakthroughs, global presence, and significant research and development activities are crucial factors impacting the competitive landscape. Molecular diagnostics reagent manufacturers collaborate with academic institutions and healthcare organizations to improve their product offerings and broaden their market penetration.

Maintaining competitiveness depends on adhering to quality standards and following regulations. Due to the dynamic nature of the market, molecular diagnostics reagent suppliers are constantly competing for market share and long-term success. This needs constant adaptation to changing trends.

Notable Advancements

  • In September 2021, F. HOFFMAN LA-ROCHE LTD. announced the acquisition of TIB Molbiol (Germany) to add a wide variety of assays for infectious diseases to its line of PCR tests.
  • For in-vitro diagnosis, Bio-Rad Laboratories, Inc. introduced the Reliance SARS-CoV-2/FluA/FluB RT-PCR Kit in July 2021. Assay reagents and standard and negative molecular controls are included in the kit.
  • To access state-of-the-art molecular diagnostics technology, Roche announced in March 2021 that it would merge and purchase GenMark Diagnostics. This collaboration makes it possible to screen for a wide variety of infections using a single patient sample. Through this partnership, the company was able to increase both its geographic reach and business growth at a faster rate.
  • Biotheranostics Inc. (United States) was acquired by Hologic, Inc. (United States) in January 2021 to expand its offerings in molecular diagnostics.
  • In December 2020, GeneIQ in Dallas changed its focus to address the COVID-19 pandemic, and this move has contributed to the company's notable expansion.
  • In March 2020, Abbott introduced a molecular point-of-care test that can diagnose the new coronavirus in five minutes. This was the second test created by the company and was approved by the FDA for use in an emergency to identify COVID-19.

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Segmentation of Molecular Diagnostics Reagent Market Research

  • By Product Type:

    • Sample Preparation Kits
    • PCR Assay Kits
    • In situ Hybridization Kits
    • Microarray Kit
    • Sequencing Kit
  • By Application:

    • Pathogen Detection
    • Biomarker Screening
    • Therapeutic Monitoring
    • Others
  • By End User:

    • Hospitals
    • Laboratories
    • Research Institutes
    • Biopharmaceutical Companies
    • Others
  • By Region:

    • North America
    • East Asia
    • East Asia
    • South Asia and Pacific
    • Western Europe
    • Eastern Europe
    • Middle East and Africa

- FAQs -

What Was the Value of the Molecular Diagnostics Reagent Market in 2019?

The global molecular diagnostics reagent market size was worth US$ 507.1 million in 2019.

What is the Sales Outlook for the Molecular Diagnostics Reagent Market in 2024?

The sales of molecular diagnostics reagents are likely to be valued at US$ 10,584.3 million in 2024.

What is the Expected Size of the Market by 2034?

The demand for molecular diagnostics reagents is projected to reach a market value of US$ 20,009.6 million by 2034.

What is the Growth Projection for the Market?

The adoption of molecular diagnostics reagents is projected to rise at a CAGR of 6.6% between 2024 and 2034.

At What CAGR is the Market in North America Predicted to Grow?

The North America market is forecasted to expand at a CAGR of 4.8% from 2024 to 2034.

At What CAGR is the Market in East Asia Predicted to Grow?

The East Asia market is forecasted to expand at a CAGR of 6.4% through 2034.

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