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Molecular Quality Controls Market outlook with industry review and forecasts

07-19-2019 10:17 AM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Molecular Quality Controls Market

Molecular Quality Controls Market

Molecular Quality Controls Market size is expected to grow significantly from 2019 to 2025. Increasing need for accurate and sensitive diagnosis will augment demand for molecular quality control products that will exceed business growth in analysis time frame. Every year, millions of people are diagnosed with infectious diseases across the globe. Obtained diagnosis result are crucial for patient’s further treatment procedure. If implication of achieved report is testified as either false positive or negative, then it will result in devasting repercussions. As a result, for obtaining accurate and efficient result, demand for molecular quality control products will surge that will augment industry growth.

Growing focus of industry players on manufacturing molecular diagnostic tests for detecting cancer and identifying infectious diseases will prove beneficial for business growth. Companies are focusing on R&D activities and developing technologically advanced control products that provide unbiased and independent testing proficiency. These products are used to monitor extraction and amplification steps to evaluate consistency of test kits and assay reagents. As a result, efforts undertaken by companies to provide innovative solutions will accelerate its demand thereby, fueling market growth. However, high cost associated with molecular control products mat hinder business growth up to certain extent.

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Independent product type segment is anticipated to witness substantial growth in analysis time frame. Significant growth is attributed to benefits offered by these products such as potential to detect performance shifts that will increase patient’s confidence. Additionally, independent molecular quality control is produced under stringent quality standard protocols that offers reliability. Furthermore, they provide accurate results for longer span without need for constant evaluations despite of fluctuations. Aforementioned advantages offered by independent control product will increase its adoption that will augment business revenue.

Multi-analyte segment has lucrative revenue share in 2018 and it is estimated to surge enormously in forecast timeline. Substantial revenue share is attributed to wide range of application provided by multi-analyte control products. Multi-analyte monitors performance of numerous tests such as in vitro laboratory nucleic acid testing protocol, HIV, hepatitis, nucleic acid, etc. It aids in reducing risk associated with reporting inaccurate results. Additionally, early detection combined with appropriate infection control procedure should prevent spread of diseases resulting in enhanced patient care. Thus, benefits offered by multi-analyte will increase its demand that will exceed its segment growth.

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Oncology segment is expected to witness robust growth over the analysis time period. Significant growth is attributed to increasing prevalence of cancer and rising focus of research institutes to develop medicines to cure patients. Scientists and researchers are emphasizing on drug discovery that highly requires quality control units to validate effectiveness of the medicines. Moreover, rising focus on manufacturing alternative and personalized medicines will augment demand for molecular quality control products to maintain accuracy in the process. As a result, rising prevalence of cancer coupled with increasing scientists focus on drug discovery will drive segment growth.

Clinical and research laboratories had lucrative revenue in 2018 and it will augment in coming years. Increasing prevalence of chronic disease combined with benefits of early diagnosis with appropriate control measures will rise demand for products in clinical and research laboratories. Increasing patient pool for accurate diagnosis and rising extensive research on developing medicines will upsurge demand for molecular quality control products that will fuel segment growth.

North America molecular quality control market is anticipated to witness significant CAGR in analysis timeframe owning to high adoption of technologically advanced products. Strong foothold of industry players and huge number of established research institutes will contribute for regional market growth. Additionally, increasing prevalence of infectious disease in the region will increased demand for molecular diagnostic tests. As per CDC, in 2016, 15.5 million patient visited physician for diagnosing infectious and parasitic diseases. Thus, presence of abundant patient pool for accurate diagnosis will fuel regional market growth.

Some of the major industry players operating in the molecular quality controls market include Bio-Rad Laboratories Inc., SeraCare Life Sciences Inc., ZeptoMetrix Corporation, Microbiologics Inc, Abbott Laboratories, Thermo Fisher Scientific, Roche Diagnostics, Quidel Corporation, Qnostics Ltd. and Maine Molecular Quality Controls Inc. For instance, in January 2017, Bio-Rad launched Amplichek STI that is a multi-analyte control product monitoring performance of various tests. This strategy aimed to expand product portfolio that will help company to sustain in the market.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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