Dublin, Feb. 28, 2022 (GLOBE NEWSWIRE) -- The "Molecular Quality Controls Market by Product (Independent, Instrument Specific (PCR, DNA Sequencing)), Application (Infectious Diseases Diagnostic), Analyte Type, End User (Hospitals, Diagnostic Lab) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global molecular quality controls market is expected to grow from USD 164 million in 2021 to USD 226 million by 2026, at a CAGR of 6.7% during the forecast period.
The growth of this market is primarily driven by factors such as the rising adoption of third-party quality controls, increasing 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 and declining costs of sequencing procedures and increasing prevalence of infectious diseases, cancer & genetic diseases.
Market Dynamics
- Drivers
- Increasing Number of Accredited Clinical Laboratories
- Growing Adoption of Third-Party Quality Controls
- Increasing Government Funding to Support Genomics Projects
- Increasing Demand for Personalized Medicines and Declining Costs of Sequencing Procedures
- Increasing Prevalence of Infectious Diseases, Cancer, & Genetic Diseases
- Rising Demand for External Quality Assessment Support
- Restraints
- Additional Costs Involved in Quality Control and Budget Constraints in Hospitals and Laboratories
- Unfavorable Reimbursement Scenario for Molecular Tests
- Opportunities
- Rising Demand for Multi-Analyte Controls
- Growth Opportunities in Emerging Countries
- Challenges
- Lack of Mandatory Regulations for Clinical Laboratory Accreditation in Several Emerging Countries
- Changing Regulatory Framework
Industry Trends
- Increasing Demand for Third-Party Independent Quality Controls
- Consolidation of Laboratories
Independent Controls held the largest share during the forecast period
Based on product, the molecular quality control market is segmented into Independent Controls and Instrument Specific Controls. The Independent control segment accounted for the largest share of the molecular quality control market in 2020. The increasing number of accredited laboratories and mandates for the use of quality controls from regulatory bodies to ensure the accuracy of diagnostic test results are driving the growth of the molecular quality control products market.
The single analyte control segment held the largest share of the molecular controls market in 2020
Based on analyte type, the molecular quality control products market is segmented into Single-analyte type and multi-analyte type. Single-analyte controls are highly preferred by laboratories; this segment accounted for the largest share of the molecular quality control products market in 2020.
The infectious diseases diagnostic segment held the largest share of the molecular controls market in 2020
Based on application, the molecular quality controls market is segmented into infectious disease diagnostics, oncology testing, genetic testing, and other applications. The infectious disease diagnostics segment accounted for the largest share of the molecular quality controls market in 2020. The large share of this segment is attributed to the development of advanced assays for infectious diseases, a significant increase in the prevalence of infectious diseases, and the rising awareness about the effective use of molecular diagnostic technologies to control the occurrence and spread of infectious diseases.
Diagnostic Laboratories is the largest end-user segment in the molecular quality control market in 2020
The key end-users of molecular quality controls studied in this report include diagnostic laboratories, hospitals, IVD Manufacturers and CROs Academic & Research Institutes, and other end users. The Diagnostic Laboratories segment accounted for the largest share of the molecular quality control market in 2020, increasing the number of accredited diagnostic laboratories to provide growth opportunities in the coming years
Asia-Pacific is projected to grow at the highest CAGR during the forecast period.
The Asia-Pacific is projected to record the highest growth rate in the molecular quality controls market during the forecast period. The presence of emerging economies such as China and India and the significant demand for high-quality and accurate diagnostic tests from the large patient population in this region are the major factors supporting the growth of the Asia-Pacific molecular quality controls market.
Research Coverage
This report describes and studies the global Molecular quality control market-based product, application, analyte type, end user, and regional level. It provides detailed information regarding the major factors influencing the growth of this market. The report includes an in-depth competitive analysis and the product matrix of the prominent players in this market, along with their company profiles, product portfolios, recent developments, and analyst overview.
Companies Mentioned
- Abbott Laboratories
- Anchor Molecular
- Bio-Rad Laboratories, Inc.
- Bio-Techne Corporation
- Fortress Diagnostics
- Grifols, SA
- LGC Limited
- Maine Molecular Quality Controls, Inc.
- Microbiologics, Inc.
- Microbix Biosystems
- Ortho Clinical Diagnostics
- Qnostics
- Quidel Corporation
- Randox Laboratories Ltd.
- Roche Diagnostics
- Seegene Inc.
- Sero AS
- Speedx Pty. Ltd.
- Thermo Fisher Scientific
- Zeptometrix, LLC
For more information about this report visit https://www.researchandmarkets.com/r/w88z8i
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