Molecular Methods Market – Global Industry Analysis and Forecast (2023-2029)

Global Molecular Methods Market size was valued at US$ 2.09 Bn in 2022 and the total revenue is expected to grow at 5.20% through 2023 to 2029, reaching nearly US$ 2.99 Bn in the forecast period.
Molecular Methods Market Overview:
A molecular method is an important tool in all laboratories for the detection of biological prints and routine detection, public health surveillance. Various Molecular Biology Techniques are DNA cloning, cut and paste DNA, bacterial transformation, transfection, chromosome integration, cellular screening, cellular culture, molecular hybridization, extraction of DNA, DNA polymerase, DNA dependent, DNA sequencing, DNA synthesis reading and writing DNA, rewriting DNA.To know about the Research Methodology :- Request Free Sample Report
Market Dynamics:
With the globalization around the world in terms of food safety and efficacy standards due to growing development in production and distribution of food in the market and food recalls from the market due to the rising frequency of foodborne diseases and illnesses have become common. In order to avoid this contamination and challenges, the government has introduced various efficacy and safety standards in food testing and has been investing a huge amount in research and development. These key factors are estimated to boost the growth of the market in the forecast period and increase the demand for molecular testing.

In addition, development and larger investment in automated molecular methods to overcome challenges like time-consuming factors, human errors, labor cost, and validations are the factors likely to fuel the growth of the market in the forecast period. for instance, in 2022, 3M company partnered with Hamilton for the merger of molecular detection by 3M and Hamilton’s Food insect NIMBUS to deliver automated workflow for pathogen testing. These mergers helped the molecular method market sustain in the market.

Besides, key players in the market are focusing on offering transparency and delivering composition minutiae to understand the method and make a healthy purchase decision. Simultaneously, this factor is driving the market expansion owing to the transparency offered by the market players. Moreover, this factor is estimated to boost the growth of novel technologies such as blockchain technology, electric bookkeeping system, and effective trace shipment details.
Global Molecular Methods Market Segment Analysis:
The Polymerase Chain Reaction (PCR) is dominating the Technology segment of the Global Molecular Methods Market:

Polymerase Chain Reaction (PCR) is likely to drive the growth of the market and generate the largest market share shortly. The key factors contributing to the growth of the market. The benefits offered by polymerase chain reaction (PCR) are rapid results, valuable for detection of particular pathogens that are difficult to culture in vitro or in vivo lab testing. Further, rapid innovation in polymerase chain reaction such as execution of real-time RT-PCR point-of-care application for pathogen detection is the key factor that is estimated to drive the growth of the market in the future.

In addition, the leading market player Bio-Rad laboratories awarded a contract for iQ-Check real-time PCR PCR pathogen detection test kits and iQ-Check Prep Automation System from the United States Department of Agriculture’s Food Safety and Inspection Service (USDA FSIS). The iQ-Check kits for pathogen detection are regularly used in the testing of food products in food safety programs worldwide to create awareness and are recognized by several well-known universal validation organizations.

The Reagents and Consumables segment is considered to supplement the growth of the Global Molecular Methods Market.

The Reagent and consumable segments are dominating the global molecular method market with the largest market share of 47.6% in 2022. And is expected to grow further at the same pace in the forecast period. The growth of the market is attributed to the growing utilization of kits and reagents coupled with the high purchase rate of testing kits for the detection of pathogens. And this factor is assessed to boost the market growth in the forecast period.

In addition, technological advancements are playing a vital role in the market due to the innovation of reagents with rapid results and optimization, and the integration of automated solutions in manual molecular testing kits. These innovations in the reagents and consumables are responsible to offers rapid pathogen testing with significant potential for accuracy. This key factor is estimated to contribute a larger market share in the forecast period.
Regional Insights:
North America is dominating the Global Molecular Methods Market with the largest market share of 34% in 2022. The growth is dominated by the increasing rules and regulations imposed by the regulatory authorities in the region regarding food safety and modernization. Moreover, the presence of regulatory authorities and the acts imposed in the US. Like the Food Safety and modernization act, the Federal Meat Inspection Act of 1906, restricted testing of food and food products are estimated to propel the growth of the market in the forecast period.

The Asia Pacific is expected to hold significant share of xx% by 2029. The growth in the sector is attributed to the government initiatives to motivate and enhance the improvement in the field of technology and food safety management. Moreover, new rules and guidelines to increase the standards and safety are likely to hit the growth of the market in the forecast period. For instance, China imposed a new set of food safety guidelines for the local government in the region.

The objective of the report is to present a comprehensive analysis of the Global Molecular Methods Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Molecular Methods Market dynamics, structure by analyzing the market segments and project the Global Molecular Methods Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Global Molecular Methods Market make the report investor’s guide.
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Global Molecular Methods Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 2.09 Bn.


Forecast Period 2023 to 2029 CAGR:
5.20%
Market Size in 2029:
US$ 2.99 Bn.


 Segments Covered:
by Specimen
Polymerase Chain Reaction (PCR)
Immunoassay
Biosensors
Microarray
Others


by Product
Instrument
Reagents & Consumables
Services


by End User
Pharmaceutical & Biotechnology Industries
Diagnostic Centers
Academic & Research Institutes
Others



Molecular Methods Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina and Rest of South America)
Molecular Methods Market Key Players are:
1. QIAGEN
2. 3M
3. Veredus Laboratories
4. NEOGEN CORPORATION
5. Bio-Rad Laboratories, Inc.
6. Thermo Fisher Scientific, Inc.
7. bioMérieux SA
8. ArcherDX, Inc.
9. HiMedia Laboratories
10.Eurofins Scientific
11.SGS SA

Frequently Asked Questions:

1. Which region has the largest share in Global Molecular Methods Market?
Ans: North America region holds the highest share in 2022.

2. What is the growth rate of Global Molecular Methods Market?
Ans: The Global Molecular Methods Market is growing at a CAGR of 5.20% during forecasting period 2023-2029.

3. What is scope of the Global Molecular Methods market report?
Ans: Global Molecular Methods Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Molecular Methods market?
Ans: The important key players in the Global Molecular Methods Market are – QIAGEN, 3M, Veredus Laboratories, NEOGEN CORPORATION, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., bioMérieux SA, ArcherDX, Inc., HiMedia Laboratories, Eurofins Scientific, and SGS SA.

5. What is the study period of this market?
Ans: The Global Molecular Methods Market is studied from 2022 to 2029.