Newark, New Castle, USA, June 14, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global molecular quality controls market was conducted by Growth Plus Reports in 2022 and valued at US$ 189.31 million. The market is expected to hit a revenue CAGR of 7.0% to reach US$ 348.03 million by 2031.
Analysis of the global market for molecular quality controls indicates that during the forecast period, revenue share is likely to increase significantly. The accuracy, precision, and dependability of molecular diagnostic tests are evaluated using samples or other materials known as "molecular quality controls."
Key Takeaways:
- The increasing demand for precise is driving the market revenue share.
- The improving advancements in healthcare technologies are driving the market demand.
- The rising adoption of point-of-care devices is increasing the market revenue growth rapidly.
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Molecular Quality Controls Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 189.31 million |
| Revenue Forecast in 2031 | US$ 348.03 million |
| CAGR | 7.0% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Product, Application, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Molecular Quality Controls Market:
- In March 2023, Lino Biotech was purchased by Miltenyi Biotec. According to the terms of the deal, Miltenyi Biotec will purchase all of the investors' shares, including those of Roche Venture Fund and High-Tech Gründerfonds. Focal Holography, a brand-new technique for determining molecular interactions in living cells or undeveloped biological materials, is exclusively available from Lino Biotech in the entire globe.
Competitive Landscape
A list of the companies operating in the global market for molecular quality controls includes:
- F. Hoffmann La-Roche Ltd.
- Maine Molecular Quality Controls, Inc.
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Abbott Laboratories Inc.
Market Drivers and Restraints:
The global molecular quality controls market revenue is driven by the rising demand for accurate, reliable, and high-end molecular diagnostic technology. Furthermore, new and more complicated molecular diagnostic tests are being developed due to increasing molecular biology technology, particularly advancements in nucleic acid amplification and detection technologies.
However, due to the high cost and lack of standardization, the molecular quality controls market revenue growth is expected to be restrained.
Market Segmentation:
Segmentation By Products
Based on the products, the independent controls segment dominates the global molecular quality controls market with the largest revenue share. This sizable share of revenue is attributed to its great flexibility and focus on regulatory bodies. Furthermore, independent controls can offer a further layer of quality control and aid in spotting any mistakes or problems throughout the testing procedure, increasing the precision and dependability of diagnostic results.
Segmentation By Application
Based on the application, the infectious diseases segment dominates the global molecular quality controls market with the largest revenue share. The significant share of revenue is attributed to higher incidences of infections, demand for an accurate diagnosis of infectious diseases, and growing focus on precision medicine and treatment for infectious diseases.
Segmentation By End User
Based on end-user, the clinical laboratories segment accounts for the highest revenue share in the global molecular quality controls market due to a rise in the prevalence of chronic and infectious illnesses and a move toward precision treatment. Guarantee the precision and dependability of these tests; this has resulted in a substantial need for molecular quality controls in clinical laboratories.
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Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global molecular quality control market. Chronic diseases, such as cancer, cardiac disorders, and diabetes, are becoming more common in North America. This has increased the need for molecular diagnostic tests, which necessitate superior molecular quality standards to guarantee accurate and trustworthy findings.
Report Coverage
Global market research on the molecular quality controls market was done in-depth by Growth Plus Reports. We looked at the core market traits, noteworthy investment prospects, regional growth trends, ten-year revenue projections, rival market participants, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL MOLECULAR QUALITY CONTROLS MARKET - ANALYSIS & FORECAST, BY PRODUCT
- Independent Controls
- Instrument Specific Controls
- GLOBAL MOLECULAR QUALITY CONTROLS MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Infectious Diseases
- Oncology
- Genetic Testing
- Others
- GLOBAL MOLECULAR QUALITY CONTROLS MARKET - ANALYSIS & FORECAST, BY END USER
- Clinical Laboratories
- Hospitals
- IVD Manufacturers & Contract Research Organizations,
- Academic & Research Institutes
- Others
MOLECULAR QUALITY CONTROLS MARKET TOC
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