Next Generation Molecular Assay Market size was valued at USD 5 Billion in 2023 and is set to reach USD 9 Billion by the end of 2036, expanding at around 5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of next generation molecular assay is estimated at USD 5.2 Billion. With the increasing technological advancements in the healthcare infrastructure, the demand for innovative early disease detection testing tools is growing simultaneously boosting the next generation molecular assay market.
Moreover, evolving advanced methods such as polymerase chain reaction are helpful in achieving precise detections compared to traditional detecting methods. Polymerase chain reaction excels in identifying genetic material responsible for infection. For instance, polymerase chain reaction tests helped in the detection of SARS-CoV-2 and rescued many patients from the infection at an early stage.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5% |
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Base Year Market Size (2023) |
USD 5 Billion |
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Forecast Year Market Size (2036) |
USD 9 Billion |
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Regional Scope |
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Technique (Enzyme-Linked Immuno-Sorbent Assay, Gene Expression Profiling Assays, Polymerase Chain Reaction)
By the end of 2036, polymerase chain reaction segment is expected to dominate around ~41% next generation molecular assay market share. PCR assay plays a fundamental role in sequencing as the methods for sequence-ready NGS libraries involve PCR steps, making it a useful and effective technique for next generation molecular assay. When a PCR test was performed on brucellosis (a zoonotic disease) for rapid diagnosis, the results obtained showed that 7% of cases had positive PCR. Moreover, PCR assays are considered to be more accurate than serological tests and blood culture techniques.
Application (Hospital, Pharmaceutical Companies, Biotech Companies)
Pharmaceutical segment in the next generation molecular assay market is set to exhibit CAGR of around 6% from 2024 to 2036. PCR and ELISA when combined help in the identification of challenging disease agents where clinical signs are not visible and are also used in the R&D of new vaccines and drugs by pharmaceutical companies.ELISA test is performed to detect blood-borne diseases such as HIV.
Our in-depth analysis of the market includes the following segments:
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Technique |
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Application |
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Type |
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North America Market Forecast
North American region in next generation molecular assay market is expected to hold revenue share of more than ~40% by 2036. The region is growing due to the presence of top industry leaders, regulatory standards, and a progressive healthcare sector.
The US has one of the best key players in the market such as BostonGene, a leading provider of AI-powered cloud-based and immune profiling services. In 2023, for improving patient response and making advancements in the medicines, BostonGene along with NEC corporation and Japan Industry Provider announced the launch of a new Tokyo-based joint venture named BostonGene Japan Inc. For ensuring quality and safety of pharmaceutical products Good Laboratory Practices (GLP), Good Clinical Practices (GCP), and Good Manufacturing Practices (GMP) are being followed by under the region.
The Canadian healthcare sector is progressing and the PCR technique is one of the most common molecular testing techniques, driving growth in the next generation molecular assay market. As per a recent analysis, the healthcare expenditure in Canada was over USD 21 million in 2023.
Asia Pacific Market Analysis
By the end of 2036, Asia Pacific region in next generation molecular assay market is set to account for more than ~28% revenue share. The region is thriving owing to government initiatives, R&D investments, a growing pharmaceutical sector, and improved medical practices. India has executed various initiatives to meet the demands of the health sector and thereby, also invested USD 1 Billion in biotechnology for research and development. The healthcare sector in China is promising and competitive providing a clear space for the Market to flourish. According to the International Trade Administration, the pharmaceutical sector of China was estimated to hold a value of USD 161.8 Billion in 2023. Korea has an extensive medical network and efficient medical device availability. The Korean healthcare management systems are very appreciative and the service is accessible 24/7. and the pharmaceutical industry of South Korea was estimated to be around 30 trillion won in 2022.
The next generation molecular assay market is dominated by key market players who are gaining traction in the market by investments in R&D.
Author Credits: Radhika Pawar
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