Worldwide Molecular Quality Controls Industry to 2028 – Rise in Adoption of Molecular Diagnostics Presents Opportunities – ResearchAndMarkets.com

Worldwide Molecular Quality Controls Industry to 2028 – Rise in Adoption of Molecular Diagnostics Presents Opportunities – ResearchAndMarkets.com




Worldwide Molecular Quality Controls Industry to 2028 – Rise in Adoption of Molecular Diagnostics Presents Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Molecular Quality Controls Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product, Analyte Type, Application, and End User and Geography” report has been added to ResearchAndMarkets.com’s offering.

According to this report the market is expected to reach US$ 372.64 million in 2028 from US$ 184.62 million in 2021; it is estimated to grow at a CAGR of 10.6% during 2021-2028. The report highlights major market drivers and prominent companies along with their key developments in the market.

According to the WHO suggestions, 30-50% of deaths caused due to cancer can be prevented by adequate treatment in early stages. In this scenario, personalized medicine offers the most promising approach to tackle diseases that have not been well-known for responding effectively to the existing treatments or cures. As per the personalized medicine report published in the PMC (Personalized Medicine Coalition), personalized medicines accounted for only 5% of the new FDA-approved molecular entities in 2005, whereas they accounted for more than 27% of the same in 2016. Additionally, 42% of all compounds and 73% of oncology compounds in the pipeline have the potential to be personalized medicines. Also, as per the PMC, biopharmaceutical companies have almost doubled their R&D investments in personalized drugs in the past five years, and they are expected to increase by 33% in the next five years. The same report also mentioned that biopharmaceutical researchers also predict a 69% increase in the number of personalized medicines in development in the coming five years.

Further, in September 2018, Congenica-a diagnostic decision support platform provider-agreed with Digital China Health Technologies Cooperation Limited (DCHealth) to introduce a genomic medicine in the Chinese market. The increasing adoption of personalized medicines, based on patient’s genetic information, for disease treatments is expected to favor the growth of the molecular quality controls market in the coming years.

Geographically, the molecular quality controls market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SCAM). North America held the largest market share in 2020. The growth in North America is characterized by increasing incidence of cancer, established key market players, and extensive R&D conducted by various academic and research institutes. Additionally, increasing incidence of COVID-19 support the growth of the market during forecast period. In April 2020, Thermo Fisher Scientific launched AcroMetrix Coronavirus 2019 (COVID-19) RNA Control to monitor and validate COVID-19 molecular diagnostic tests. Thus, rising numbers of product launches support the growth of the market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the molecular quality controls market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global molecular quality controls market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

Drivers

  • Growing Funds for Genomics
  • Declining Cost of Sequencing Procedures
  • Increasing Prevalence of Genetic Diseases

Restraints

  • Dearth of Skilled Professionals

Opportunities

  • Rise in Adoption of Molecular Diagnostics

Future Trends

  • Burgeoning Demand for Personalized Medicines

Companies Mentioned

  • Tohermo Fisher Scientific, Inc.
  • Bi-Rad Laboratories, Inc.
  • F. Hoffmann La-Roche Ltd.
  • Abbott
  • Quidel Corporation
  • Qnostics
  • Maine Molecular Controls, Inc.
  • Zeptometrix Corporation
  • Microbiologics
  • Seracare Life Sciences

For more information about this report visit https://www.researchandmarkets.com/r/dlq5es.

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