The objective of the study is to analyze the key market dynamics, such as drivers, opportunities, restraints, challenges, and key player strategies. To track company developments such as acquisitions, product launches, expansions, agreements, and partnerships of the leading players, the competitive landscape of the molecular diagnostics market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches were used to estimate the market size. To estimate the market size of segments and subsegments, the market breakdown and data triangulation were used.
The four steps involved in estimating the market size are
Secondary Research
In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to identify and collect information for this study.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources were mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, researchers, and organizations related to all segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as assess prospects.
The following is a breakdown of the primary respondents:
Breakdown of Primary Participants:
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Companies are classified into tiers based on their total revenues. As of 2022/2023, Tier 1 = >USD 100 million, Tier 2 = USD 10 million to USD 100 million, and Tier 3 = <USD 10 million.
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME
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DESIGNATION
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Abbott
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General Manager
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F. Hoffmann-La Roche Ltd.
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Area Sales Manager
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the molecular diagnostics market's total size. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
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The key players in the industry have been identified through extensive secondary research
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The revenues generated by leading players operating in the molecular diagnostics market have been determined through primary and secondary research.
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All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Molecular Diagnostics Market Size: Bottom-Up Approach
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Global Molecular Diagnostics Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size by applying the process mentioned above, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Molecular diagnostics is a technique used to identify and analyze nucleic acids or proteins at a molecular level. This technique assesses an individual’s genetic makeup to identify a predisposition to any particular disease or condition and diagnose it.
Key Stakeholders
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Senior Management
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End User
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Finance/Procurement Department
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R&D Department
Report Objectives
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To define, describe, segment, and forecast the global molecular diagnostics market, by product & service, test type, sample type, technology, application, end user, and region
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To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
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To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall molecular diagnostics market
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To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
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To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Middle East & Africa, Latin America, and GCC countries
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To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies2
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To track and analyze company developments such as product launches & approvals, partnerships, acquisitions, agreements, and other developments
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To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product excellence
Available Customizations
MarketsandMarkets offers the following customizations for this market report.
Country Information
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Additional country-level analysis of the molecular diagnostics market
Company profiles
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Additional five company profiles of players operating in the molecular diagnostics market.
Product Analysis
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Product matrix, which provides a detailed comparison of the product portfolio of each company in the molecular diagnostics market
MnM
Jun, 2022
• Due to covid, there was an increase in the demand for immunodiagnostics and molecular testing, which was regarded as the gold standard for diagnosing infectious diseases, leading to the increased sales of related consumables and kits. During the pandemic era, revenue growth for key players was majorly driven by the sales of COVID-19 diagnostic tests. The dominant model of laboratory testing throughout the world remains the centralized laboratory that uses automated analytical testing methods to detect target analytes. This trend is well established in clinical chemistry and haematology disciplines and is now extending to other areas, including immunoassays and molecular diagnostics. Reagents & kits segment accounted for the largest share in the IVD market and Oncology segment is expected to witness the fastest growth in the forecast period. With 30,000+ partners, technologies, and use-cases as the primary levers, we have deep understanding of IVD ecosystem. We offer more than 2X coverage throughout the IVD curve as compared to our competitors..
MnM
Jun, 2022
•The molecular diagnostics market is segmented into lab tests and PoC tests by test type. The lab tests segment accounted for the largest share of the molecular diagnostics market in 2021. Factors such as the increasing need for automation and the rising incidence of various infectious diseases are driving the growth of this segment. •Molecular diagnostic reagents include disease-specific kits and general reagents used during infectious disease diagnosis and pathogen screening. Laboratory technicians utilize specific disease diagnostic kits for earlier and more accurate identification of specific pathogen strains in a patient sample. General reagents are key components of a majority of conventional molecular diagnostic procedures. • Companies are now launching rapid kits and reagents to detect the novel coronavirus, which is further fueling the growth of this market segment. Regional authorities have also been actively engaged in providing emergency approvals for the use of these kits. In September 2020, Danaher Corporation (US) received Emergency Use Authorization (EUA) from the US Food & Drug Administration (FDA) for its Xpert Xpress SARS-CoV-2/Flu/RSV, a rapid molecular diagnostic test for the qualitative detection of the viruses causing COVID-19, Flu A, Flu B, and RSV infections from a single patient sample. In March 2020, QIAGEN N.V. (Netherlands) received FDA approval for its QIAstat-Dx test kit to detect coronavirus. .