Molecular Methods Market Size, Share, Growth, Forecast 2030

Molecular Methods Industry Prospective:

The global molecular methods market size was evaluated at $2000 million in 2022 and is slated to hit $5000 million by the end of 2030 with a CAGR of nearly 6.9% between 2023 and 2030.

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Molecular Methods Market: Overview

Molecular biotechnology has increased the applications of molecular methods. Novel technologies such as immunoassay, polymerase chain reaction (PCR), microarray, and biosensors are commonly used molecular methods. Reportedly, molecular methods are standard lab methods that find a slew of applications in genetics, biophysics, molecular biology, and biochemistry. For the record, molecular methods include a large number of techniques such as ELISA, blotting, PCR, and immunoassays.

Key Insights

• As per the analysis shared by our research analyst, the global molecular methods market is projected to expand annually at the annual growth rate of around 6.9% over the forecast timespan (2023-2030)
• In terms of revenue, the global molecular methods market size was evaluated at nearly $2000 million in 2022 and is expected to reach $5000 million by 2030.
• The global molecular methods market is anticipated to grow rapidly over the forecast timeline owing to a rise in the demand for molecular procedures for food safety.
• In terms of product, the consumables & reagents segment is slated to register the highest CAGR over the analysis period.
• Based on technology, the polymerase chain reaction (PCR) segment is expected to dominate the segmental growth over the assessment timeline.
• Region-wise, the Asia-Pacific molecular methods industry is projected to register the fastest CAGR during the assessment timeline.

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Molecular Methods Market: Growth Factors

Rise in the demand for molecular procedures for food safety will bolster the global market elevation over forecasting years

Growing use of molecular methods in food safety testing along with government policies favoring the use of molecular methods in biotechnology will drive the global molecular methods market trends. Rising investment in the development of new methods and technological advancements will act as a major driving factor in the growth of the global market. In addition to this, the launching of new products and an increase in applications of molecular methods will proliferate the size of the market in the coming years. For instance, in June 2023, Roche Diagnostics, a key biotech firm and global leader in in-vitro diagnostics testing, introduced a new molecular testing system. Additionally, in June 2023, SandboxAQ, a SaaS firm, introduced a biopharma molecular simulation unit referred to as AQBioSim. For the record, this unit will work in collaboration with Sanofi S.A. and AstraZeneca.

Molecular Methods Market: Restraints

Huge device costs can diminish the growth of the industry globally over the coming eight years

Lack of awareness, high cost of specialized molecular testing devices, and a dearth of skilled persons in low-income group countries will restrict the growth of the global molecular methods industry. In addition to this, complexness of the methods of molecular testing can pose a huge threat to the global industry surge over the coming years

Molecular Methods Market: Opportunities

Rise in awareness about improving food quality and safety will open new growth avenues for the global market

Growing concerns about the quality of food will open new facets of growth for the molecular methods market across the globe. Apart from this, the large-scale availability of third-party vendors using molecular methods for testing food quality and its freshness as well as the presence of microbes will open new avenues of growth for the global market.

Molecular Methods Market: Challenges

Less know-how about food safety measures in emerging economies can prove to be a big hurdle in the global industry elevation over forecasting period

Low awareness about food safety methods in developing countries can pose a huge challenge for the global molecular methods industry in the years ahead.

Molecular Methods Market: Segmentation

The global molecular methods market is sectored into product, technology, and region.                

In product terms, the global molecular methods market is segregated into consumables & reagents, instrument, and services segments. Furthermore, the consumables & reagents segment, which acquired nearly half of the global market proceeds in 2022, is set to register the fastest CAGR in the ensuing years. The expansion of the segment in the assessment timeline can be owing to easy access to an extensive range of these products along with large-scale use of them for detecting pathogens in food as well as other perishable eatables.

Based on the technology, the global molecular methods industry is sectored into microarray, immunoassay, biosensors, polymerase chain reaction (PCR), and others segments. In addition to this, the polymerase chain reaction (PCR) segment, which acquired a key part of the global industry share in 2022, is anticipated to lead the global industry size in the coming eight years. The segmental elevation over the forecasting years can be credited to the rise in the use of molecular methods in polymerase chain reaction (PCR) segment owing to its accuracy and specificity in detecting pathogens along with their ability in minimizing the turnaround time of the PCR process.

Molecular Methods Market: Report Scope

Molecular Methods Market: Regional Insights

North America is slated to maintain its regional dominance over the forecasting timeline

North America, which contributed about 70% of the global molecular methods market share in 2022, is likely to dominate the regional market surge even during the assessment timeframe. Additionally, the growth of the market in the sub-continent can be attributed to the large-scale presence of regulatory bodies such as the U.S. FDA, CDC (Centre For Disease Control and Prevention), and FSIS (Food Safety and Inspection Service) in countries such as the U.S. which ensures food safety.

Asia-Pacific molecular methods industry is set to register the fastest CAGR in the years ahead subject to a rise in the presence of key players in countries such as India and China. Apart from this, a rise in the technical competency of food safety firms in these countries will steer the growth of the industry in the region.

Molecular Methods Market: Competitive Space

The global molecular methods market profiles key players such as:

• QIAGEN
• Bio-Rad Laboratories Inc.
• NEOGEN CORPORATION
• Thermo Fisher Scientific Inc.
• Veredus Laboratories
• bioMérieux SA
• SGS SA
• The 3M Company
• Eurofins Scientific
• HiMedia Laboratories
• ArcherDX Inc.

The global molecular methods market is segmented as follows:

By Product

• Consumables & Reagents
• Instrument
• Services

By Technology

• Immunoassay
• Polymerase Chain Reaction (PCR)
• Microarray
• Biosensors
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa