DUBAI, United Arab Emirates, Feb. 18, 2022 (GLOBE NEWSWIRE) -- According to the market research report by Future Market Insights, the global molecular quality controls market is estimated to increase at a CAGR of 6.7%, from US$ 164 million in 2021 to US$ 226 million by 2026.
| Attributes | Details | |
| Molecular Quality Controls Market CAGR (2022 – 2032) | 7% | |
| Molecular Quality Controls Market (2026) | US$ 226 Mn | |
| Molecular Quality Controls Market Attraction | Asia Pacific to hold attractiveness | |
The rising adoption of third-party quality controls, the growing number of accredited clinical laboratories, the rising demand for external quality assessment support, increasing government funding to support genomics projects, increasing demand for personalized medicines, declining sequencing costs, and the rising prevalence of infectious diseases, cancer, and genetic diseases are all driving molecular quality controls market forward.
The COVID-19 pandemic had a detrimental impact on molecular quality controls sales. As governments increasingly loosen their prohibitions on migration, there is a rise in testing numbers.
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With the COVID-19 pandemic, dealing with infectious illness has become a major medical concern throughout the world. There is an increasing demand for more precise and easy testing methods, as well as the expansion of testing structures. Companies have also made strategic decisions to deploy COVID-19 quick testing, maintain revenue, and mitigate COVID-19's influence on their operating capabilities.
Due to the expanding global burden of various diseases, the number of laboratory tests performed has grown. The number of laboratories in both the public and private sectors is growing to satisfy this need.
Setting up a quality control process in a clinical laboratory necessitates a large financial commitment. Laboratories must also have specialized people to supervise the quality control system.
Regardless of the number of tests completed, QC procedures entail equal expenses. As a result, the expense of implementing QC processes in clinical laboratories that perform modest quantities of diagnostic tests is prohibitively expensive. This, along with funding restrictions in many hospitals and laboratories in both developed and emerging economies, is projected to lead to a decreased adoption of quality-control techniques.
New multi-analyte and multi-instrument controls have been developed as a result of technological improvements. These cutting-edge controls combine many instrument-specific controls into a single control, allowing clinical laboratories to save money. In addition, these controls save time by eliminating the need for separate QC processes for each analyte.
In the next years, the increased availability of such molecular quality controls for infectious disease diagnostics and other applications is likely to drive market expansion.
Key Takeaways:
- The Asia Pacific molecular quality controls market is expected to reach US$ 72.07 million in 2028 from US$ 34.27 million in 2021; it is estimated to grow at a CAGR of 11.2%.
- The European molecular quality controls market is expected to reach US$ 109.59 million by 2028 from US$ 55.76 million in 2021; it is estimated to grow at a CAGR of 10.1%.
- The growing implementation of genomic sequencing in healthcare systems is supported by substantial government investments, totaling over US$ 4 billion by at least 14 countries.
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Comparative View of Adjacent Molecular Quality Controls Market
| Attributes | Molecular Quality Controls Market | Point-of-care Molecular Diagnostics Market | Wearable Healthcare Devices Market | |||
| CAGR (2022 - 2032) | 5% | 8% | 13% | |||
| Market Value (2026) | US$ 673 Mn | US$ 4 Bn | US$ 30 Bn | |||
| Growth Factor | Rising adoption of third-party quality control devices to drive adoption. | Growing focus on decentralized diagnostics to improve focus on the point-of-care molecular diagnostics. | Shortage of physicians and fear of getting infected is shifting the trend towards mobile healthcare consulting. | |||
| Opportunity | Growing demand for multi-analyte controls in emerging countries to foster opportunities. | Influence of COVID-19 and conducive regulatory policies to offer great expansion opportunities. | Outbreak of COVID-19 to offer opportunities to the market players. | |||
| Key Trends | Development of technologically advanced products to sustain opportunities. | Focusing on emerging markets to improve growth potential in the market. | Innovation is the key for the players. | |||
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Key Segments
By Analyte:
- Single-analyte Controls
- Multi-analyte Controls
By Product Type:
- Independent controls
- Instrument-specific controls
By Application:
- Infectious Diseases Diagnostics
- Oncology Testing and Genetic testing
By End User:
- Diagnostic laboratories
- Hospitals
- IVD manufacturer & CROs
- Academic & Research Institutes
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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Competitive Landscape:
The prominent players in the molecular quality control market F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific, Inc. (the US), Randox Laboratories Ltd. (UK), LGC Limited (UK), Abbott Laboratories (US), Fortress Diagnostics (UK), SERO AS (Norway), Anchor Molecular (US), Ortho-Clinical Diagnostics, Inc. (US), Quidel Corporation (US), Sun Diagnostics, LLC (US), Seegene Inc. (South Korea), ZeptoMetrix, LLC (US), Qnostics (UK), Bio-Techne Corporation (US), Microbiologics, Inc. (US), Microbix Biosystems Inc. (Canada), SpeeDx Pty. Ltd. (Australia), Maine Molecular Quality Controls, Inc. (US), and Grifols, S.A. (Spain).
- SeraCare and the International Quality Network for Pathology (IQN Path) (Luxembourg) announced a collaboration in June 2021 to develop, manufacture, and supply a range of highly characterised cell line genomic DNA and formalin-fixed, paraffin-embedded (FFPE) standards with confirmed low, mid, and high levels of mutational burden within their exome regions.
- Bio-Rad and Roche Diagnostics (Switzerland) announced worldwide cooperation in May 2021 to supply clients with a comprehensive array of InteliQ devices and Unity QC data management systems, as well as customer training and support services.
- Abbott Laboratories spent USD 2.4 billion in research and development in 2020, with USD 10.80 billion going toward producing technologically enhanced diagnostic devices to expand its product offering.
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