Favorable Government Policies And Global Core Molecular Laboratory Market

The report, titled “Global Core Molecular Laboratory Market Analysis and Forecast, 2019-2028” analyzes the market in the region according to technology, product, and region. An in-depth market analysis report gives an overall historical and future market size in terms of market value (US$ Million) along with a complete market assessment (year-on-year increase). The market share analysis, the growth of the healthcare sector, a summary of the competitive landscape, strategic imperatives, future strategies and plans, the most important application, a potential growth driver, and a competitive analysis of the key players in the global research study on the core market for molecular laboratories.

Market Overview And Dynamics

The global core molecular laboratory market was estimated at US$7.5 billion in 2021 and is projected to increase at a substantial growth rate of over 10.2%during the forecast period of 2022-2028. The rise in chronic diseases like heart disease, cancer, and diabetes is driving the need for molecular diagnostics and personalized medical treatments. The importance of the core molecular laboratories to provide advanced molecular testing to aid in the diagnosis of disease, prognosis, and treatment is vital.

Market Trends And Drivers In The Global Core Molecular Laboratory Market

Additionally, the development of cutting-edge sequencing technologies like next-generation sequencing (NGS) and the expanding access to high-throughput screening technologies are pushing the core molecular laboratory market. These tools allow for quicker and more accurate molecular testing and analysis which results in better outcomes for patients. In addition, the growing focus on the importance of personalized medicine and precision medicine is pushing the molecular laboratory market.

The services for molecular testing are crucial in discovering genetic markers that will help in determining the best treatment for patients. North America is expected to lead the global core molecular laboratory market, mainly due to its well-established healthcare infrastructure, the large healthcare expenses, and the rising prevalence of chronic illnesses within the region. In the end, the United States is the major player in this North American core molecular laboratory market. The country’s dominant position is due to the existence of large players in the region, technological advances, and favorable policies of the government.

Segmental Analysis:

• based on product, test kits own a significant share of the market due to ease of use, whereas the services market is expected to grow at a significant growth rate in the forthcoming years.
• Based on the application infectious disease segment is anticipated to gain significant growth. The growing prevalence of diseases such as HIV, Hepatitis C, Hepatitis B, etc. is expected further fuel the revenue from this segment.

Competition Analysis:

The global core molecular laboratory market is highly competitive and fragmented. The key players in the market are focusing on strategic collaborations, product launches, mergers and acquisitions, and technological innovation to expand their market presence. The market is characterized by the presence of several regional players who cater to the specific needs of their respective regions. Moreover, the market players are focusing on new products and technology. These players are focusing on developing customized solutions and expanding their market presence.

• On January 2022, PathGroup, one of the largest providers of anatomic pathology, digital pathology, and clinical and molecular laboratory services in the US, announced the acquisition of Pathology Consultants, a leading provider of pathology services based in Greenville, S.C. Together, PathGroup and Pathology Consultants will provide physicians and patients across the Southeast with superior quality and service levels for their comprehensive testing needs.
• On April 2017, Siemens Healthcare and Thermo Fisher Scientific today announced a new strategic relationship that includes the integration of Thermo Fisher Scientific’s real-time PCR system into Siemens’ VERSANT® kPCR Molecular Solution. The combined workflow will offer laboratories Siemens complete molecular testing.

Some of the prominent players operating in the global core molecular laboratory market include Thermo Fisher Scientific, Illumina Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., BioMérieux S.A., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Agilent Technologies Inc., and F. Hoffmann-La Roche AG, among others.

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