Favorable government policies and the rising prevalence of chronic diseases are expected to be the major growth driver of the global core molecular laboratory market, says a research report by RationalStat

The report titled "Global Core Molecular Laboratory Market Analysis and Forecast, 2019-2028" assesses the regional market based on product, technology, and region. A detailed market analysis report provides an overall historical and future market size in terms of Market Value (US$ Million) with a comprehensive market trend analysis (year-on-year growth). The market share analysis, growth of the healthcare industry, an overview of the competition, strategic imperatives, future plans and strategies, key application, potential growth driver, and competition analysis for the target players evaluated in the global core molecular laboratory market study.

Market Overview and Dynamics

The global core molecular laboratory market was valued at US$ 7.5 Billion in 2021 and is expected to grow at a robust growth rate of more than 10.2% during the forecast period 2022-2028. The increasing prevalence of chronic diseases such as cancer, cardiovascular disease, and diabetes is fueling the demand for molecular diagnostics and personalized medicine. The role of core molecular laboratories in providing advanced molecular testing services to aid in disease diagnosis, prognosis, and treatment is critical.

Market Drivers and Trends of the Global Core Molecular Laboratory Market

Furthermore, the advancement of advanced sequencing technologies such as next-generation sequencing (NGS) and the increasing availability of high-throughput screening technologies are propelling the core molecular laboratories market forward. These technologies allow for faster and more accurate molecular testing and analysis, resulting in better patient outcomes.

Furthermore, the growing emphasis on personalized medicine and precision medicine is propelling the core molecular laboratories market forward. Services for molecular testing are critical in identifying genetic markers that can guide personalized treatment.

North America is expected to dominate the global core molecular laboratory market primarily due to the well-established healthcare infrastructure, high healthcare expenditure, and increasing prevalence of chronic diseases in the region. The United States is the major contributor to the North American core molecular laboratory market, and the country's dominance can be attributed to the presence of major players in the region, technological advancements, and favorable government policies.

Segmental Analysis: Global Core Molecular Laboratory Market

• On the basis of product, test kits own a significant share of the market due to ease of use, whereas the services market is expected to grow at a significant growth rate in the forthcoming years.
• Based on the application infectious disease segment is anticipated to gain significant growth. The growing prevalence of diseases such as HIV, Hepatitis C, Hepatitis B, etc. is expected further fuel the revenue from this segment.

Competition Analysis: Regional and local Players Dominate the Market

The global core molecular laboratory market is highly competitive and fragmented.
The key players in the market are focusing on strategic collaborations, product launches, mergers and acquisitions, and technological innovation to expand their market presence.

The market is characterized by the presence of several regional players who cater to the specific needs of their respective regions. Moreover, the market players are focusing on new products and technology. These players are focusing on developing customized solutions and expanding their market presence.
• On January 2022, PathGroup, one of the largest providers of anatomic pathology, digital pathology, clinical and molecular laboratory services in the US, announced the acquisition of Pathology Consultants, a leading provider of pathology services based in Greenville, S.C. Together, PathGroup and Pathology
Consultants will provide physicians and patients across the Southeast with superior quality and service levels for their comprehensive testing needs.
• On April 2017, Siemens Healthcare and Thermo Fisher Scientific today announced a new strategic relationship that includes the integration of Thermo Fisher Scientific's real-time PCR system into Siemens' VERSANT® kPCR Molecular Solution. The combined workflow will offer laboratories Siemens complete molecular testing.

Some of the prominent players operating in the global core molecular laboratory market include Thermo Fisher Scientific, Illumina Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., BioMérieux S.A., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Agilent Technologies Inc., and F. Hoffmann-La Roche AG, among others.

RationalStat has segmented the global core molecular laboratory market on the basis of product, technology, application, and region.
• Global Core Molecular Laboratory Market Value (US$ Million) and Market Share (2019-2028) Analysis By Product
o Test Kits
o Services
• Global Core Molecular Laboratory Market Value (US$ Million) and Market Share (2019-2028) Analysis By Technology
o Polymerase Chain Reaction (PCR)
o In Situ Hybridization (ISH)
o Isothermal Nucleic Acid Amplification Technology (INAAT)
o Chips and Microarrays
o Mass Spectrometry
o Sequencing
o Transcription Mediated Amplification (TMA)
• Global Core Molecular Laboratory Market Value (US$ Million) and Market Share (2019-2028) Analysis By Application
o Oncology
 Breast Cancer
 Kidney Cancer
 Prostate Cancer
 Colorectal Cancer
 Blood Cancer
 Lung cancer
 Liver Cancer
o Pharmacogenomics
o Infectious Diseases
 Methicillin-resistant Staphylococcus Aureus (MRSA)
 Clostridium difficile
 Vancomycin-Resistant Enterococci (VRE)
 Carbapenem-resistant bacteria
 Flu
 Respiratory Syncytial Virus (RSV)
 Candida
 Tuberculosis (TB) and drug-resistant TB
 Meningitis
 Gastrointestinal panel testing
 Chlamydia
 Gonorrhea
 HIV
 Hepatitis C
 Hepatitis B
o Genetic Testing
 Newborn screening
 Predictive and Presymptomatic Testing
o Neurological Diseases
o Cardiovascular Diseases
o Microbiology
o Hematology
• Global Core Molecular Laboratory Market Value (US$ Million) and Market Share (2019-2028) Analysis By Region
o North America Core Molecular Laboratory Market
 US
 Canada
o Latin America Core Molecular Laboratory Market
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Core Molecular Laboratory Market
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Core Molecular Laboratory Market
 Russia
 Poland
 Rest of Eastern Europe
o Asia Pacific Core Molecular Laboratory Market
 China
 Japan
 India
 South Korea
 Australia
 ASEAN (Indonesia, Vietnam, Malaysia, etc.)
 Rest of Asia Pacific
o Middle East & Africa Core Molecular Laboratory Market
 GCC
 South Africa
 Turkey
 Rest of the Middle East & Africa

For more information about this report https://store.rationalstat.com/store/global-core-molecular-laboratory-market/

RationalStat LLC
Kimberly Shaw, Content and Press Manager
sales@rationalstat.com
Phone: +1 302 803 5429

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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