At 13.7% CAGR, the Asia Pacific Molecular Diagnostics Market is Projected to be Worth US$ 9,698.11 Million by 2030, says The Business Market Insights

According to the Business Market Insights’ research, the Asia Pacific molecular diagnostics market was valued at US$ 3,478.48 million in 2022 and is expected to reach US$ 9,698.11 million by 2030, registering a CAGR of 13.7% from 2022 to 2030. Development of new products and increase in demand for point-of-care testing and surging prevalence of associated diseases are the critical factors attributed to the Asia Pacific molecular diagnostics market expansion.                     

Molecular diagnostics procedures can be employed in the detection of a wide range of conditions such as oncologic diseases, infectious diseases, cardiac diseases, and immune system disorders; they can also be used in genetic testing using genetic material such as DNA and RNA for the diagnosis of different diseases. Cancer is one of the leading causes of death worldwide. The early detection of the disease can help prevent death among the patients. The World Health Organization (WHO) stated that cancer was a cause of ~70% of deaths in low- and middle-income countries in 2021. As per the Global Burden of Disease Study in the Global Health Data Exchange and the World Health Statistics 2020, cardiovascular disease (CVD) mortality in China was 322 per 100,000 population, while India reported 185 per 100,000 population of CVD. Thus, the rising prevalence of target diseases fuels the molecular diagnostics market growth.

On the contrary, limitations associated with molecular testing hurdles the growth of Asia Pacific molecular diagnostics market.

Based on disease area, the Asia Pacific molecular diagnostics market is segmented into infectious disease, oncology, genetic testing, cardiac diseases, immune system disorders, and others. The infectious disease segment held 42.8% share of Asia Pacific molecular diagnostics market in 2022, amassing US$ 1,488.15 million. It is projected to garner US$ 4,230.37 million by 2030 to expand at 14.0% CAGR during 2022–2030.

Based on technology, the Asia Pacific molecular diagnostics market is segmented into polymerase chain reaction (PCR), in situ hybridization, isothermal nucleic acid amplification technology (INAAT), DNA sequencing and next-generation sequencing (NGS), DNA microarrays, and others. The polymerase chain reaction (PCR) segment held 48.5% share of Asia Pacific molecular diagnostics market in 2022, amassing US$ 1,685.74 million. It is projected to garner US$ 4,869.94 million by 2030 to expand at 14.2% CAGR during 2022–2030. The polymerase chain reaction (PCR) is further sub segmented into RT-PCR, qPCR, multiplex PCR, and others.

Based on product and services, the Asia Pacific molecular diagnostics market is segmented into assays and kits, instruments, and services and software. The assays and kits segment held 65.9% share of Asia Pacific molecular diagnostics market in 2022, amassing US$ 2,291.67 million. It is projected to garner US$ 6,576.69 million by 2030 to expand at 14.1% CAGR during 2022–2030.

Based on end users, the Asia Pacific molecular diagnostics market is segmented into diagnostic laboratories, hospitals and clinics, research and academic institutes, and others. The diagnostic laboratories segment held 41.4% share of Asia Pacific molecular diagnostics market in 2022, amassing US$ 1,441.00 million. It is projected to garner US$ 4,130.95 million by 2030 to expand at 14.1% CAGR during 2022–2030. 

Based on country, the Asia Pacific molecular diagnostics market has been categorized into the India, Singapore, Malaysia, the Philippines, Thailand, Indonesia, Vietnam, China, Japan, Australia, South Korea, and the Rest of Asia Pacific.  Our regional analysis states that China captured 22.8% share of Asia Pacific molecular diagnostics market in 2022. It was assessed at US$ 792.71 million in 2022 and is likely to hit US$ 2,356.74 million by 2030, exhibiting a CAGR of 14.6% during 2022–2030.      

Key players operating in the Asia Pacific molecular diagnostics market are Abbott Laboratories, Agilent Technologies Inc, Thermo Fisher Scientific Inc, F Hoffmann-La Roche Ltd, Qiagen NV, bioMerieux SA, Illumina Inc, Danaher, Siemens Healthineers AG, Novartis AG, and TBG Diagnostics Limited, among others.   

• In July 2023, Thermo Fisher launched new software for molecular diagnostics labs. This software helps in streamlining routine diagnostics testing for standardization and rapid time-to-results. It can enhance the potential of a lab to dynamically respond to quickly changing testing environments by connecting workflow steps within a single interface.  
• In Nov 2021, Thermo Fisher Scientific Inc., the world leader in serving science, has innovative proteomics solutions and a series of co-marketing agreements with industry experts, advancing the throughput, comprehensiveness, and quality of proteomics workflows for applications such as single-cell studies and translational research.

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