Molecular Quality Controls Market To Generate $313.7 Million Revenue by 2030

The global molecular quality controls market revenue is expected to reach USD 313.7 million by 2030, exhibiting a CAGR of 6.4% during 2022–2030. This can be attributed to the significant prevalence of congenital diseases like sickle cell anemia and thalassemia, an increase in cases of chronic conditions such as HIV and diabetes, a rise in the population of senior citizens, and a surge in government funding for genomics studies. In addition, the increasing demand for enhanced treatments and the reducing costs of the sequencing processes are contributing to the growth of the industry.

There has been a significant increase in the usage of molecular quality controls, due to the surge in cases of inherited disorders. This is because these products help in the detection of hereditary conditions, as they aid in the understanding of results. For instance, down syndrome is an inherited illness that results in abnormal cell division. In the U.S., there have been notable births every year with this abnormality, due to which prenatal screening is increasing in the nation.

In addition, the surging prevalence of breast cancer, the uprising awareness about the adoption of genetic testing, and the presence of sickle cell anemia in individuals are likely to influence the market growth in the foreseeable future. Moreover, a rise in healthcare expenditure by government authorities to control infections among people and to provide good patient care has led to an increase in the opening of hospitals and various other diagnostic centers in several regions, which, in turn, aid in the growth of the industry remarkably.

Oncology Testing Dominates the Industry

On the basis of application, the oncology testing category accounts for the largest revenue share. This is due to the surging incidence of malignancy worldwide and ongoing research on the same, the development of better diagnostic tools, and the expanding emphasis on individualized care.

Whereas, the genetic testing category is expected to show the highest CAGR, around 9%, during the predicted time frame. This can be ascribed to the increasing need for a cure and genetic diagnosis of a variety of congenital diseases as well as the establishment of bloodlines.

On the other hand, the infectious diseases diagnostics category establishes its presence in the application class remarkably. This is because communicable conditions are growing in developing countries like China and India. Due to the huge population and notable presence of patients suffering from such conditions in these nations, the market in this category is expected to grow in the coming years.

Asia-Pacific Market To Exhibit the Fastest Growth

During the projected period, the APAC market is projected to develop at the highest CAGR around 10%. The business is expanding as a result of the existence of developing nations like China and India as well as the substantial demand from the region's vast patient population for accurate and high-quality diagnostic tests. Moreover, the rising healthcare spending by governments, due to the upsurge in cases of infections and other illnesses, has a positive influence on the industry.

The requirement for precision oncology has been a major topic of concern for various authorities in the region, leading to the formation of numerous programs. Platforms like the K-MASTER (Korean Cancer Precision Medicine Diagnosis and Treatment Enterprise) in South Korea and the LC-SCRUM lung cancer genomic screening initiative in Japan are two examples of this. Moreover, cancer is becoming an increasingly common health issue in this area as a result of aging populations and significant lifestyle changes. Thus, these factors drive the regional market.

Key players in the market include LGC Ltd., Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., ZeptoMetrix LLC, Quidel Corporation, Maine Molecular Quality Controls Inc., Microbiologics Inc., LGC Clinical Diagnostics Inc., and Bio-Techne Corporation.