The molecular quality controls market size is projected to reach US$ 0.52 billion by 2031 from US$ 0.22 billion in 2023. The market is expected to register a CAGR of 12.8% during 2023–2031. Burgeoning demand for personalized medicines will likely remain a key trend in the market.
Factors such as growing funds for genomics and increasing prevalence of genetic diseases fuel the growth of the market. Furthermore, a rise in focus on molecular diagnostics is emerging as a key opportunity for the molecular quality control market players.
Genome sequencing was restricted to the research facilities a few years back. However, it has now become one of the standard techniques in clinical practices. As per the study ‘Integrating Genomics into Healthcare’, over the next few years, the healthcare sector is expected to generate genomic data of over 60 million patients. The growing implementation of genomic sequencing in healthcare systems is supported by substantial government investments, totaling over US$ 4 billion in at least 14 countries. The UK announced the world’s largest genome project as a part of a 200 million public-private collaboration between charitable organizations and pharmaceutical companies.
Since molecular quality controls facilitate result interpretation, they are employed in the detection of genetic disorders. An additional whole or partial copy of chromosome 21 is the resultant aberrant cell division that produces the genetic disease known as Downs syndrome. According to the US Centers for Disease Control and Prevention (CDC), around 6,000 babies in the US are born with Down syndrome each year. Prenatal testing for Down syndrome is rising nationwide as a result.
Two genes, BRCA1 (breast cancer gene one) and BRCA2 (breast cancer gene two), are mutated in the majority of hereditary instances of breast cancer. According to the American Cancer Society, faulty genes that are passed on from parents to their offspring account for 5% to 10% of occurrences of breast cancer that are hereditary. Genetic testing for hereditary breast cancer is becoming more popular as breast cancer awareness grows.
Molecular diagnostics methodologies are used to detect disturbances between specific sequences in DNA or RNA. The irregularities such as single nucleotide polymorphism (SNP), deletions, rearrangements, and insertions lead to various diseases—such as infectious diseases, cancer, viral diseases, and sexually transmitted diseases (STDs).
As per the Flu Facts and Statistics report, during 2017-2018, there were around 31.4 million outpatient visits due to flu. It also mentioned that 5-20% of the US population gets flu every year. Furthermore, according to the National Cancer Institute, in 2020, around 1,806,590 new cases of cancer will be diagnosed in the US, with an estimated death count of 606,520. The number of people who have cancer is expected to rise to 19 million by 2024. Such high prevalence of infectious diseases and increasing incidence of cancer lead to high traction toward molecular diagnostics, as it is capable of diagnosing diseases with high specificity, further paving the way for treating patients with precision medicine.
Key segments that contributed to the derivation of the molecular quality controls market analysis are product, application, and end user.
The geographic scope of the molecular quality controls market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In North America, the U.S. is the most significant molecular quality control market. The increasing investments and rising funds dedicated to manufacturing companies as well as academic and research institutes for the development of cancer medicines, the growing geriatric population, infectious disease, and other therapeutics are some of the major driving factors.
Diagnostics based on NGS are generally expected to guide care selection in the future to improve patient outcomes. According to the National Cancer Institute, in the United States, an estimated 1,806,590 new cases of cancer will be diagnosed in 2020, with 606,520 people dying from the disease. Similarly, according to The Leukemia & Lymphoma Society (LLS), an estimated 178,520 people in the United States were diagnosed with leukemia, lymphoma, or myeloma in 2020. As a result, the factors mentioned above would boost market growth in the forecasted timeframes.
The regional trends and factors influencing the Molecular Quality Controls Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Molecular Quality Controls Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 0.22 Billion |
| Market Size by 2031 | US$ 0.52 Billion |
| Global CAGR (2023 - 2031) | 12.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Molecular Quality Controls Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Molecular Quality Controls Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Molecular Quality Controls Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the molecular quality controls market are listed below:
The “Molecular Quality Controls Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the molecular quality controls market in 2023
Factors such as growing funds for genomics, declining cost of sequencing procedures, and increasing prevalence of genetic diseases fuel the growth of the market. However, the dearth of skilled professionals hinders the market growth.
The burgeoning demand for personalized Medicine will likely remain a key trend in the market.
THERMO FISHER SCIENTIFIC, INC., Qnostics, BIO-RAD LABORATORIES, INC., F. HOFFMANN LA-ROCHE LTD., Abbott, Quidel Corporation, Maine Molecular Controls, Inc., Zeptometrix Corporation, Microbiologics, and Seracare Life Sciences.
The market is expected to register a CAGR of 12.8% during 2023–2031.