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Core Clinical Molecular Diagnostics Market Growth and Outlook (2024 – 2034)
Core Clinical Molecular Diagnostics Market: Molecular Insights
Core clinical molecular diagnostics involves applying molecular biology techniques to study human diseases, including infections, inherited conditions, and cancer. This field focuses primarily on patient care through advanced diagnostic methods. It uses genomic and proteomic analysis techniques, such as nucleic acid isolation and quantification, PCR amplification, sequencing, and STR analysis. These methods help identify biological markers in patients, allowing for more accurate medical testing and diagnosis.
The aging population is driving the rise in chronic diseases, such as genetic disorders, cancer, and infections, which increases the need for biomarker analysis to provide effective treatment. Research and development in genomics, proteomics, and molecular biology are also helping to fuel the market’s growth. Additionally, the growing demand for point-of-care diagnostics and personalized medicine is contributing to the market’s expansion.
Core Clinical Molecular Diagnostics Market Trends
- In July 2024, Roche Diagnostics unveiled its next-generation core lab and molecular systems, including a total mass spectrometry solution. This innovation was showcased at the 2024 Association for Diagnostics & Laboratory Medicine (ADLM) Scientific Meeting and Clinical Lab Expo in Chicago.
- In May 2023, CORE Diagnostics, a leading provider of high-end diagnostic solutions, launched a new satellite lab in East Delhi, India, to enhance its testing capabilities and meet the increasing demand for precise diagnostic services.
- Also in May 2023, the US Department of Health’s Biomedical Advanced Research and Development Authority (BARDA) allocated $53.7 million to Aptitude Medical to develop a series of molecular diagnostic tests for home and point-of-care use.
Regional Insights
Increasing Prevalence of Chronic Disorders Dominated North America
North America held a dominant presence in the core clinical molecular diagnostics market in 2023. The presence of key players, state-of-the-art research and development facilities, technological advancements, and favorable government policies drive the market. In November 2022, the FedDev Ontario Minister announced an investment of $2 million for SQI Diagnostics, a leading diagnostics company, to discover and develop rapid diagnostic testing for the North American clinical and patient market. It is estimated that more than 30 million people are reported to have rare diseases in the US. While in Canada, it is estimated that one out of every twelve people has a rare disease. In 2023, 613,331 people died due to cancer in Canada, necessitating early detection and screening of cancer.
Rising Demand for POC and In Vitro Diagnostics Drive Asia-Pacific
Asia-Pacific is estimated to grow fastest in the core clinical molecular diagnostics market during the forecast period. The rising geriatric population, increasing prevalence of chronic disorders, and increasing investments & collaborations drive the market. The rising demand for point-of-care (POC) diagnostics and in vitro diagnostics (IVD) for detecting and screening chronic disorders boosts the market. Several government organizations in China, India, and Japan have initiated various programs to enhance their availability and accessibility across the region. The Chinese government is investing heavily in building up the country’s in vitro diagnostics (IVD) testing capacity and meeting the strong clinical demand of an aging population.
Top Companies in the Core Clinical Molecular Diagnostics Market
- Abbott Laboratories
- Agilent Technologies, Inc.
- Amoy Diagnostics
- Becton, Dickinson and Company
- Biomerieux
- Bio-Rad Laboratories
- CORE Diagnostics
- Myriad Genetics
- Qiagen
- Quest Diagnostics
- Roche Diagnostics
- Siemens Healthineers
- Sysmex Corporation
- Thermo Fisher Scientific
Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/core-clinical-molecular-diagnostics-market-sizing
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