Home Press Releases Molecular Quality Controls Market Size Worth $294.31 Million By 2030 | CAGR: 6.8%

Molecular Quality Controls Market Size Worth $294.31 Million By 2030 | CAGR: 6.8%

The global molecular quality controls market size is expected to reach USD 294.31 million by 2030, according to a new study by Polaris Market Research. The report “Molecular Quality Controls Market Share, Size, Trends, Industry Analysis Report, By Product (Independent Controls, and Instrument-specific Controls); By Technology; By Application; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Trends in the industry are driven by several variables, including the steadily rising number of clinical laboratories that are accredited. Clinical laboratory tests have aided in not just the diagnosis of disease but also in monitoring the effectiveness of treatment. Today, clinical laboratories all around the world are vying for national and international accreditation, largely to guarantee more dependable and superior laboratory services. Diagnostic laboratories conduct more intricate tests, are held to greater standards of regulatory compliance, and are subject to increased levels of regulatory scrutiny. 

 

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For instance, in April 2021, based on the results of an on-site examination, the College of American Pathologists accredited the Advanced Genomics Institute Clinical Laboratory at UC Berkeley. In the years to come, there may be an increase in demand for control solutions as a result of the urgent demand for extensive monitoring for any anomalies in diagnostic goods.

 

The primary factors driving this industry’s growth are the increasing use of third-party regulatory standards, the desire for external quality measurement support, the development of government funding for genomics developments, the demand for personalized medicines, the declining cost of sequencing procedures, and the increased incidence of infectious diseases, cancer, and genetic diseases.

 

Furthermore, in July 2021, to compete in the multiplex molecular diagnostics industry, Seegene, a significant participant, and Bio-Rad Laboratories partnered. The collaboration aims to create diagnostic solutions for infectious diseases. Additionally, subject to FDA approval and further clinical research, Seegene would provide diagnostic tests for use on Bio-CFX96 Rad’s Dx Real-Time PCR System for the American market.

 

As the burden of various diseases increases globally, more laboratory tests are being performed. Both public and commercial sector laboratories are opening up to address this need. To perform diagnostic tests, clinical laboratories must get accreditation from regulatory organizations such as the International Organization for Standardization (ISO) and other standards of a like kind in the majority of nations. The relevant authorities analyze a laboratory’s competency and quality system during the accreditation procedure using predetermined standards.

 

Molecular Quality Controls Market Report Highlights

  • The genetic testing form segment is anticipated to grow at a significant CAGR over the forecast period. Genetic illnesses are identified using these technologies because they make it easier to interpret the results. A second whole or partial copy of chromosome 21 develops from faulty cell division, which is the genetic disease known as Downs syndrome. Additionally, the use of genetic testing for hereditary breast cancer is expanding as breast cancer awareness grows.
  • Infectious diseases diagnostics accounted for a significant share of the global revenue share which is accelerated by the rising along with infectious diseases their treatment.
  • The North American region is expected to increase at a lucrative CAGR during the projection period, has emerged as the leading regional share. Due to the existence of significant competitors in the market and the rising number of new control panels that leading companies are releasing, North America is predicted to expand.
  • The global market is highly competitive owing to the existence of large industry players with a global presence including Anchor Molecular, Abbott Laboratories, Bio-Rad Laboratories, Incorporation,  F. Hoffmann-La Roche Ltd, and Fortress Diagnostics.

 

Polaris Market Research has segmented the molecular quality controls market report based on product, technology, application, end-use, and region:

 

Molecular Quality Controls, Product Outlook (Revenue – USD Million, 2018 – 2030)

  • Independent
  • Instrument-specific

Molecular Quality Controls, Technology Outlook (Revenue – USD Million, 2018 – 2030)

  • PCR
  • DNA Sequencing & NGS
  • Other Technologies

Molecular Quality Controls, Application Outlook (Revenue – USD Million, 2018 – 2030)

  • Infectious Diseases Diagnostics
  • Blood Screening
  • Oncology Testing
  • Genetic Testing
  • Other Applications

Molecular Quality Controls, End-Use Outlook (Revenue – USD Million, 2018 – 2030)

  • Diagnostic Laboratories
  • Hospitals
  • IVD Manufacturers & CROs
  • Academic and Research Institutes
  • Other End Users

Molecular Quality Controls, Regional Outlook (Revenue – USD Million, 2018 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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