Molecular Diagnostics Market Scope And Analysis

Molecular Diagnostics Market Report Scope

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the global molecular diagnostics market are listed below:

1. In April 2023, QIAGEN launched QIAstat-Dx in Japan with respiratory panel for syndromic testing. Japan to become the latest of more than 100 countries where QIAstat-Dx is available for molecular testing in diagnosing over 20 respiratory diseases from one patient sample.
2. In April 2023, Novartis Malaysia extended the Molecular Diagnosis Program for aBC patients with PIK3CA Gene. This will create the accessibility of PIK3CA testing, realizing the significant impact of early diagnosis and intervention on advanced breast cancer (aBC) patient’s quality of life.
3. In January 2023, Agilent to Collaborate with Quest Diagnostics to Extend Access to the Agilent Resolution ctDx FIRST Liquid Biopsy Test. The agreement between Quest and Agilent will enable broad adoption for ctDx FIRST, a single-site premarket approved (ssPMA) test performed at the Resolution Bioscience CLIA laboratory in Washington.
4. In February 2023, Siemens Healthineers announced a multi-year partnership with Unilabs. This partnership will improve the patient care and also installation of various instruments by Siemens.

COVID-19 Impact:

Before the COVID-19 pandemic, molecular diagnostics market was experiencing a steady increase in demand before the COVID-19 pandemic. Technological advancements, like a polymerase chain reaction (PCR), and others, the rising application of molecular diagnostics were growing before pandemic.

During pandemic, the spread of the pandemic coupled with uncertainty around economic recovery has affected the pharmaceutical industry in the region. This economic impact is expected to have negative effect on the investments in research and development. Some key players in the molecular diagnostics provided best postop operative care to their cancer patient while protecting health care professionals and other patients. Abbott has received Emergency Use Authorization (EUA) for a point-of-care test that can provide results in minutes. Thus, increased production by the companies has resulted in profits, and the outbreak of COVID-19 has shown a positive impact on market growth.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global molecular diagnostics market are Abbott Laboratories, Agilent Technologies Inc., Thermo Fisher Scientific Inc, F. Hoffman-La Roche Ltd., Qiagen NV, bioMerieux SA, Illumnia Inc., Danaher, Siemens Healthineers AG, Novartis AG, and TBG Diagnostics Limited. These companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which provides them to serve a large set of customers and subsequently increases their market share. The report offers trend analysis of the molecular diagnostics market emphasizing various parameters such as technological advancements, market dynamics, and competitive landscape analysis of leading market players across the globe.