The global Infectious Disease Molecular Diagnostics Market size is expected to reach USD 40.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 3.0% from 2020 to 2028. The market is driven by the introduction of technologically advanced products and an increase in demand for molecular diagnostics in PoC settings.
Rapid technological advancements with portability,
accurate results, and cost-effectiveness are anticipated to serve as crucial
drivers of the market for infectious disease molecular diagnostics. Companies
are upgrading their products by implementing new techniques to gain specific
and accurate results. Key players are updating their product portfolio for PCR
instruments with increased R&D initiatives for developing novel kits to
target emerging diseases or by entering into agreements with other kit manufacturing
companies.
Technologies such as INAAT, mass spectroscopy, and ISH
are advanced and have a low false-positive rate as compared to other
traditional diagnostic tests. Advantages such as the cost-effectiveness and
user-friendliness of this technology and the accuracy offered are estimated to
increase the adoption of this technology.
The use of molecular diagnostics in research
institutes is increasing. The use of techniques such as PCR, western blotting,
and southern blotting is becoming common. Moreover, the spread of SARS-CoV-2
infection globally has led to an increase in research funding by governments as
well as diagnostic companies to search for innovative molecular diagnostics.
Molecular diagnostics deliver effective and accurate
results. Moreover, these tests enable the early detection of diseases,
maintaining a low threat of substitutes. However, the high prices of these
tests are expected to encourage patients to shift to external substitutes.
Moreover, for the detection of newer infections such as SARS-CoV-2, the rate of
internal substitution is high, which boosts competitive rivalry.
Related Press Release@ Infectious Disease Molecular Diagnostics Market Report
Infectious Disease Molecular
Diagnostics Market Report Highlights
- The reagent segment is expected to exhibit the fastest growth rate
attributable to increased adoption
- The growing geriatric population in Asian countries, such as Japan
and China, with high untapped opportunities is expected to drive the
market for infectious disease molecular diagnostics in the region during
the forecast period
- The In Situ Hybridization (ISH) segment is anticipated to witness
the fastest growth rate owing to high sensitivity and lower complexity
- The high growth rate of the market for infectious disease molecular
diagnostics in the Asia Pacific can be attributed to increased access to
healthcare in the developing nations
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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