Press release
Unlocking Precision Healthcare: Southeast Asia's Molecular Diagnostics Market Set to Soar to $891.87 Million by 2031
[Redding, California , 19-02-2024] - Meticulous Research®, a leading authority in market research, has unveiled its latest report titled, 'Southeast Asia Molecular Diagnostics Market by Offering (Reagents, Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (HIV, Influenza, HPV, Oncology, Gene Testing), End User - Forecast to 2031'.According to the comprehensive findings from Meticulous Research®, the Southeast Asia molecular diagnostics market is poised to achieve a valuation of $891.87 million by 2031, exhibiting a robust CAGR of 7.8% from 2024 to 2031.
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The growth trajectory of the Southeast Asia molecular diagnostics market is propelled by various factors including the escalating geriatric population, mounting prevalence of communicable and non-communicable diseases, technological advancements in molecular diagnostics, and the upsurge in healthcare expenditure. Opportunities such as the burgeoning medical tourism industry in Southeast Asian nations and the intensified focus on companion diagnostics are anticipated to further fuel market growth. However, challenges such as a shortage of skilled professionals, lack of harmonization of medical device regulations across Southeast Asian countries, and the high costs associated with molecular diagnostic tests may impede market expansion.
Key players featured in the Southeast Asia molecular diagnostics market report include Sansure Biotech, Inc. (China), F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Hologic, Inc. (U.S.), Illumina, Inc. (U.S.), Xiamen Zeesan Biotech Co., Ltd (China), QIAGEN N.V. (Netherlands), Danaher Corporation (U.S.), Abbott Laboratories (U.S), and Agilent Technologies, Inc. (U.S.).
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Southeast Asia Molecular Diagnostics Market: A Comprehensive Analysis
The Southeast Asia molecular diagnostics market is meticulously segmented based on Offering (Kits & Reagents, Instruments, Software & Services), Test Type (Laboratory Tests and Point-of-Care (POC) Tests), Technology (Polymerase Chain Reaction (PCR), In Situ Hybridization (ISH), Isothermal Nucleic Acid Amplification Technology (INAAT), Microarrays, Sequencing, Mass Spectrometry, and Other Technologies), Application (Infectious Diseases, Oncology, Genetic Testing, Neurological Diseases, Cardiovascular Diseases, and Other Applications), and End User (Hospitals & Clinics, Diagnostic Laboratories, Academic & Research Institutes, and Other End Users). Additionally, the report evaluates industry competitors and conducts thorough analyses at both regional and country levels.
Among offerings, the kits and reagents segment is anticipated to dominate the market in 2024, driven by factors such as commercial availability, disease-specific test kits, and growing awareness regarding early disease diagnosis.
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The laboratory test segment is projected to lead among test types in 2024, owing to its widespread availability, patient preference, and accuracy of test results.
In terms of technology, the polymerase chain reaction (PCR) segment is expected to hold the largest market share in 2024, attributed to its versatility, widespread adoption, and applications ranging from multi-drug resistance testing to genetic disorder diagnosis. Enhanced PCR testing capabilities during the COVID-19 pandemic further support the segment's dominance.
The infectious diseases segment is anticipated to hold the largest market share among applications in 2024, driven by the rising prevalence of infectious diseases and increased funding for the development of diagnostic tools, particularly amid the COVID-19 pandemic.
Hospitals & clinics are forecasted to be the largest end user segment in 2024, reflecting increased hospitalizations and the proliferation of healthcare facilities in emerging economies. The launch of new hospitals, such as Adventist Hospital in Palangka Raya, Indonesia, further boosts demand for molecular diagnostic tests and advanced healthcare technologies.
Indonesia is expected to account for the largest market share among geographies in 2024, attributed to increasing prevalence of diseases, growing adoption of molecular diagnostics, and rising healthcare expenditure.
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