Molecular Diagnostics Infectious Disease Testing Market Growth - 2032 With a CAGR of 4.4%

Molecular Diagnostics in Infectious Disease Testing Market Outlook (2022-2032)

The global molecular diagnostics in infectious disease testing market was valued at US$ 53 Bn in 2021 and is likely to reach US$ 85 Bn by 2032, registering a CAGR of 4.4% from 2022 to 2032.

Based on technique, the polymerase chain reaction (PCR) segment is expected to account for the largest market share by the end of 2032.

Market Introduction

Molecular diagnostics is a technique used to detect the presence of and identify genetic materials and proteins associated with specific health conditions and diseases, and infectious agents in body fluids such as blood, urine, or sputum. Molecular diagnostics for infectious disease testing is used by hospitals, academic institutions, laboratories, and others.

Increasing number of infectious diseases and technological advancements in diagnostic technologies for infectious diseases are some major driving factors for molecular diagnostics in the infectious disease testing market. Molecular diagnostics technologies are mainly used to diagnose diseases such as AIDS, tuberculosis (TB), hepatitis, and hospital-acquired infections.

Technological advancements in diagnostic procedures for infectious diseases, the increasing prevalence of infectious diseases, a growing elderly population, and the growth of research activities in molecular diagnostic technologies are some major drivers for the global molecular diagnostics in infectious disease testing market.

Moreover, government support in the form of funding for the diagnosis and prevention of infectious diseases is also supporting the growth of the global molecular diagnostics in infectious disease testing market. However, the high cost of instruments involved in molecular diagnostic technologies and the lack of skilled healthcare professionals are some major restraints on the growth of the market.

Increasing numbers of mergers and acquisitions and rapid product launches are some of the latest trends that have been observed in the global molecular diagnostics in infectious disease testing market.

Which Factors are Driving the Growth of the Molecular Diagnostics in Infectious Disease Testing Market?

"High Incidence of Infectious Diseases Worldwide"

The high incidence of infectious diseases such as influenza, COVID-19, HIV (human immunodeficiency virus), HAI (hospital-acquired infection), and hepatitis, together with the increased need for point-of-care diagnostic testing, is expected to drive the global molecular diagnostics in infectious disease testing market.

• According to the CDC (Centers for Disease Control and Prevention), over 1.5 million hospital-acquired infections (HAIs) and 95,000 fatalities occur annually in American hospitals.

Hospital-acquired infections occur in various types of care settings, including nursing homes, hospitals, ambulatory clinics, and rehabilitation institutions.

"Expanding Geriatric Population across the World"

The geriatric population is expanding worldwide. Due to multimorbidity, weakened immune function, and physiological changes linked to age, the geriatric population is especially vulnerable to COVID-19.

• According to the CDC (Centers for Disease Control and Prevention), 75% of COVID-19-related deaths in 2021 were among persons over the age of 65.

As a result, this demographic must be examined regularly to avoid serious illnesses, which presents significant growth prospects for the global molecular diagnostics in infectious disease testing market, especially in nations with expanding geriatric populations, such as the United States, Japan, and Russia.

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Polymerase Chain Reaction (PCR) Segment Driving High Revenue Generation

The polymerase chain reaction (PCR) segment is expected to be the largest revenue generator in molecular diagnostics in infectious disease testing market. This can be ascribed to its traditional use in the diagnosis of infectious disorders as well as technological developments to detect emerging infectious diseases.

Moreover, the increased use of high-throughput PCR technology for coronavirus detection fueled the segment growth.

• QuantuMDx Group invested over US$ 10 million in January 2021 to accelerate the manufacture of Q-POC, a SARS-CoV-2 molecular diagnostics test that can identify influenza A and B as well as SARS-CoV-2. This company's investment demonstrates unfulfilled diagnostic requirements that are being met with such investments, hence accelerating segment expansion at a profitable rate.

Aside from traditional growth techniques, the most recent advancement in DNA amplification methods has resulted in the development and improvement of Transcription-mediated Amplification (TMA).

• Gen-Probe, which is now part of Hologic, Inc., has done exclusive work on the creation of this technology. TMA has aided in the detection of pathogenic organisms such as Neisseria gonorrhoeae and Chlamydia trachomatis.

North America to Dominate Global Market

North America is set to dominate the global molecular diagnostics in infectious disease testing market during the forecast period due to increased regulatory support and rising investment in diagnostics.

Moreover, the growing demand for molecular testing to identify infectious diseases, early diagnosis of infections in patients with underpinning medical conditions like diabetes, and the increasing prevalence of drug-resistant infections are all projected to boost the molecular diagnostics in infectious disease testing market in North America.

Key Market Players

Some of the major companies operating in the global molecular diagnostics in infectious disease testing market are Abbott Laboratories, Becton, Dickinson and Company, bioMérieux, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Siemens AG, Veridex, LLC, Luminex Corp., GenMark Diagnostics, Inc., Qiagen N.V., Genomix Biotech, and bioTheranostics.

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