Molecular Diagnostics Market

F. Hoffmann-La Roche Ltd(Switzerland) and Hologic, Inc. (US) are the Major Players in the Molecular Diagnostics Market

The global molecular diagnostics market size is projected to reach USD 31.8 billion by 2026 from USD 17.8 billion in 2021, at a CAGR of 12.3% during the forecast period. Growth in the molecular diagnostics industry is mainly driven by factors such as the increasing prevalence of infectious diseases and cancer and the rising funding for R&D. The increase in PoC testing devices and technological advancements are factors supporting the growth of this market. On the other hand, an unfavorable reimbursement scenario and the high cost of instruments is expected to limit market growth to a certain extent in the coming years.

The major players in this market are F. Hoffmann-La Roche Ltd(Switzerland), Hologic, Inc. (US), bioMérieux SA (France), Abbott Laboratories (US), QIAGEN (Netherlands), Thermo Fisher Scientific Inc. (US), Siemens Healthineers AG (Germany), Danaher Corporation (US), Myriad Genetics Inc. (US), Illumina Inc. (US), Agilent Technologies Inc. (US), Becton, Dickinson and Company (US), DiaSorin S.p.A (Italy), Grifols S.A. (Spain), Quidel Corporation(US), Genetic Signatures (Australia), MDxHealth, Inc. (US), Exact Sciences Corporation (US), Biocartis NV (Belgium), TBG Diagnostics Ltd. (Australia), GenMark Diagnostics Inc. (US), Luminex Corporation (US), HTG Molecular Diagnostics Inc. (US), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), Molbio Diagnostics Pvt. Ltd. (India), ELITechGroup (France), Savyon Diagnostics Ltd. (Israel), ABACUS Diagnostics (Finland), and geneOmbio Technologies Pvt. Ltd. (India).

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F. Hoffmann-La Roche Ltd. accounted for the largest share of the molecular diagnostics market in 2020. The company’s leading position in the molecular diagnostics market is attributed to its wide product portfolio. Under its flagship brand- cobas- the company offers a wide variety instruments and reagents that are widely used by end users across the globe. The company also has a wide geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia. This enables the company to cater to customers across the globe. Roche Diagnostics mainly focuses on strategic partnerships & acquisitions to maintain its leading position in the market.

In 2020, Hologic, Inc. accounted for the second-largest share of the molecular diagnostics market. The company has a strong presence in the US, France, Germany, the UK, China, Australia, Japan, Canada, Latin America, and the Middle East. The company’s focus on product launch and acquisition which helps it to maintain its market position.

bioMérieux SA accounted for the third largest share of the molecular diagnostics market. The company  operates in more than 150 countries across the Americas, Europe, the Middle East and Africa, and the Asia Pacific and has 18 production sites and 20 R&D sites. It has 43 subsidiaries across the globe. The company has a strong product portfolio  which have helped it to maintain and enhance its presence in the molecular diagnostics market.

Related Reports:

Molecular Diagnostics Market by Product & Service(Reagents, Kits, PoC & Tabletop Instruments), Application(COVID-19, Hepatitis, HAI, HIV, Oncology, Genetic Tests), Technology (PCR, NGS, ISH), End User (Hospitals, Diagnostic Labs)-Global Forecast to 2026

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Report Code
MD 2521
RI Published ON
4/7/2021
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