ARLINGTON, Va. (PRWEB) January 03, 2023
There is a market in excess of $21 billion for molecular testing technologies, reveals medical market research publisher Kalorama Information in The World Market for Molecular Diagnostics Tests, 11th Edition, a recent report added to the firm’s Knowledge Center subscription. The majority of the market is COVID-19, but there remains a $10 billion dollar market for all other molecular in vitro diagnostics (IVD).
THE IMPACT OF COVID-19
As the COVID-19 crisis surfaced in the United States, molecular diagnostic manufacturers went to work with new RT-PCR testing kits. So what can we expect for the future? As mentioned, molecular is already a roughly $10 billion market without COVID-19. While it’s possible COVID-19 tests will continue to be panelized and added to larger menus and may not have the emergency system sales of its 2020-2021 crescendo, its influence should last in other ways. It already has boosted the respiratory and healthcare infection molecular testing markets.
Kalorama Information estimates a $11 billion dollar market for 2022 for COVID-19 molecular diagnostics testing. Most of the larger companies already participating in the IVD market have products. The worldwide demand for molecular COVID tests grew to around $20 billion in 2021 and then began to rapidly decrease in Q2 2022 and into Q3 2022.
INFECTIOUS DISEASES AND OTHER KEY AREAS OF FUTURE GROWTH
The dominance of the COVID-19 segment arguably isn’t surprising considering that the first category where molecular diagnostics earned their place was infectious disease. In this category, specific results were needed for treatment decisions. The pioneers in the molecular diagnostics field included Roche Diagnostics, Gen-Probe, and Becton Dickinson.
“The main focus of the initial molecular diagnostics products was infectious diseases including HIV, Chlamydia trachomatis, Neisseria gonorrhoeae, and tuberculosis. These diseases are still critical components of the market,” says Bruce Carlson, vice president of publishing at Kalorama Information, a division of Science and Medicine Group. “Recent growth in molecular diagnostics methods has also been coming from inherited diseases, cancer, coagulation, and other areas.”
Beyond COVID-19, growth areas forecast over the next five years will be led by sexually transmitted infection testing, but will include other areas of focus, specifically:
- Cancer assays (blood)
- Molecular human papilloma virus (HPV)
ABOUT THE REPORT
For more information purchase "The World Market for Molecular Diagnostics Tests, 11th Edition," available at: https://kaloramainformation.com/product/the-world-market-for-molecular-diagnostics-tests-11th-edition/.
Kalorama Information’s 11th edition report of the clinical molecular testing industry provides marketing sizing and forecasts for in vitro diagnostics (IVDs) over a five-year period. In this report, our industry experts and top analysts assess the current positions of this complex, multi-billion dollar market. This data publication has become an indispensable tool in clinical healthcare medicine and assesses the business opportunity, new product introductions, and rapid changes in several areas of this industry, including:
- Infectious Disease Molecular Diagnostics (COVID-19, Hepatitis, HIV, Respiratory, STI, Others)
- Cancer Molecular Diagnostic Markets (Blood-based and Tissue-based)
- Genetic Molecular Diagnostic Markets (SNPs, Inherited, NIPT, Other)
- Blood Banking Molecular Diagnostics Markets
- Transplantation Molecular Diagnostic Markets
- Regional Molecular Diagnostics Markets (North America, Europe, Asia, Global)
ABOUT KALORAMA INFORMATION
Kalorama Information, part of Science and Medicine Group, is the leading publisher of market research in healthcare areas, including in vitro diagnostics (IVD), biotechnology, medical devices, and pharmaceuticals. Science and Medicine Group supports companies seeking to commercialize the rapidly changing marketplace at the intersection of science, medicine, and technology. Comprised of industry-leading brands, Science and Medicine Group serves analytical instrument, life science, imaging, and clinical diagnostic companies by helping them create strategies and products to win markets and provide platforms to digitally engage their markets through a variety of innovative solutions. Kalorama Information produces 30 reports a year. The firm offers a Knowledge Center, which provides access to all published reports.