{"id":686248,"date":"2024-01-30T18:08:01","date_gmt":"2024-01-30T18:08:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=686248"},"modified":"2024-01-30T18:08:01","modified_gmt":"2024-01-30T18:08:01","slug":"molecular-quality-controls-market-worth-03-billion-by-2028","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/molecular-quality-controls-market-worth-03-billion-by-2028_686248.html","title":{"rendered":"Molecular Quality Controls Market worth $0.3 billion by 2028"},"content":{"rendered":"
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Browse 196 market data Tables and 53 Figures spread through 280 Pages and in-depth TOC on “Molecular Quality Controls Market Product (Independent Control, Instrument Specific Control (PCR, DNA Sequencing), Application (Infectious Disease Diagnostics), Analyte type, End User (Hospitals, Diagnostic Lab), Region- Global Forecast to 2028<\/div>\n<\/div>\n<\/div>\n
Thermo Fisher Scientific (US) acquired The Binding Site Group to expands the company’s existing specialty diagnostics portfolio with the addition of pioneering innovation in diagnostics and monitoring for multiple myeloma.<\/div>\n

The molecular quality controls industry is set to witness significant growth and advancements in the near future. With the increasing demand for accurate and reliable molecular diagnostic tests, the need for robust quality control solutions becomes paramount. Molecular quality controls provide essential tools to ensure the accuracy, precision, and reliability of laboratory testing procedures, including nucleic acid amplification, sequencing, and other molecular assays. As technology continues to advance, the industry is expected to witness the development of more sophisticated and comprehensive quality control materials that mimic complex clinical samples, allowing for better evaluation of assay performance. Furthermore, the integration of artificial intelligence (AI) and machine learning algorithms will enable the generation of data-driven quality control strategies, optimizing test accuracy and efficiency. As the molecular diagnostics field expands and becomes more integrated into routine clinical practice, the molecular quality controls industry will play a pivotal role in ensuring the quality and integrity of test results, ultimately contributing to improved patient care and outcomes.<\/p>\n

Molecular Quality Controls Market<\/a><\/strong> in terms of revenue was estimated to be worth $0.2 billion in 2023 and is poised to reach $0.3 billion by 2028, growing at a CAGR of 6.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is primarily driven by growing adoption of third-party quality controls, the increasing number of accredited clinical laboratories, increasing government funding for genomic projects, and increasing prevalence of infectious diseases, cancer, and genetic diseases. However, the additional costs involved in the quality control process and budget constraints in hospitals and laboratories, are the major factors that are expected to restrain the growth of this market during the forecast period.<\/p>\n

Download an Illustrative overview: https:\/\/www.marketsandmarkets.com\/pdfdownloadNew.asp?id=82625523<\/a><\/strong><\/p>\n

Browse in-depth TOC on “Molecular Quality Controls Market”<\/strong><\/p>\n

196 – Tables<\/strong><\/p>\n

53 – Figures<\/strong><\/p>\n

280 – Pages<\/strong><\/p>\n

The independent controls segment has accounted for the largest share of the market during the forecast period<\/strong><\/p>\n

Based on product, the molecular quality controls market is segmented into independent controls and instrument-specific controls. The independent controls segment accounted for the largest share  of the global molecular quality controls market in 2022. The large share of this segment is attributed to the increasing use of third-party independent quality controls due to their benefits, such as applications across different reagent lots, which helps reduce the cost of operation.<\/p>\n

The single-analyte controls has accounted for the largest share of the market during the forecast period.<\/strong><\/p>\n

On the basis of analyte type, the molecular quality controls market is segmented into single-analyte controls and multi-analyte controls. Single-analyte controls accounted for the largest share of the molecular quality controls market in 2022. The large share of this segment can be attributed to the significant use of singleplex assays in hospitals and the low risk of cross-reactivity.<\/p>\n

The infectious disease diagnostic segment accounted for the largest share of the market in 2022<\/strong><\/p>\n

Based on application, the molecular quality controls market is segmented into infectious disease diagnostics, oncology testing, genetic testing, and other applications (including cardiovascular disease testing, neurology disease testing, DNA fingerprinting, tissue typing, and microbiology). The infectious disease diagnostics segment accounted for the largest share of the global molecular quality controls market in 2022. The large share of this segment is attributed to the development of advanced assays for different infectious diseases and a significant increase in the prevalence of infectious diseases.<\/p>\n

The diagnostic laboratories segment accounted for the largest share of the market in 2022<\/strong><\/p>\n

Based on end users, the molecular quality controls market is segmented into diagnostic laboratories, hospitals, IVD manufacturers & CROs, academic & research institutes, and other end users (blood banks, local public health laboratories, home health agencies, and nursing homes). The diagnostic laboratories segment accounted for the largest share of the molecular quality controls market in 2022. This can be attributed to the increasing number of accredited diagnostic laboratories worldwide and the growing number of laboratory tests performed in diagnostic laboratories.<\/p>\n

Asia-Pacific is to witness the highest growth during the forecast period.<\/strong><\/p>\n

The Asia-pacific Molecular Quality Controls market is expected to grow at the highest CAGR during the forecast period of 2023-2028. The high growth rate of this market can be attributed to large patient population in the region, rising healthcare needs, increasing focus on improving the quality of laboratory testing, strategic developments by leading players, and the rapid growth in the number of accredited laboratories.<\/p>\n

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Molecular Quality Controls Market<\/strong> Dynamics:<\/strong><\/p>\n

Drivers:<\/strong><\/p>\n

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  1. Rising number of accredited clinical laboratories<\/li>\n
  2. Growing adoption of third-party quality controls<\/li>\n
  3. Increasing investments in genomics<\/li>\n
  4. Growing preference for personalized medicine<\/li>\n
  5. Increasing prevalence of infectious diseases and cancer<\/li>\n
  6. Rising demand for external quality assessment support<\/li>\n<\/ol>\n

    Restraints:<\/strong><\/p>\n

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    1. Budgetary constraints in clinical laboratories<\/li>\n
    2. Unfavorable reimbursements for molecular tests<\/li>\n<\/ol>\n

      Opportunities:<\/strong><\/p>\n

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      1. Rising demand for multi-analyte controls<\/li>\n
      2. Growth opportunities in emerging markets<\/li>\n<\/ol>\n

        Challenges:<\/strong><\/p>\n

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        1. Stringent regulatory requirements for IVD products<\/li>\n<\/ol>\n

          Key Market Players:<\/strong><\/p>\n

          The prominent players in this market are Abbott Laboratories (US), Anchor Molecular (US), Thermo Fisher Scientific, Inc. (US), Randox Laboratories Ltd. (UK), LGC Limited (UK), F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US),  Bio-Rad Laboratories, Inc. (US), Fortress Diagnostics (UK), SERO AS (Norway), Anchor Molecular (US), Vircell S.L. (Spain), Ortho Clinical Diagnostics, Inc. (US), Bio-Techne Corporation (US), Microbiologics, Inc. (US), Steck LLC (US), QuidelOrthoCorporation (US), Sun Diagnostics, LLC (US), Seegene Inc. (South Korea), ZeptoMetrix, LLC (US), Qnostics (UK), Helena Laboratories Corporation (US), Microbix Biosystems Inc. (Canada), Molbio Diagnostics Pvt. Ltd. (India), SpeeDx Pty. Ltd. (Australia), Maine Molecular Quality Controls, Inc. (US), and Grifols, S.A. (Spain).<\/p>\n

          Recent Developments:<\/strong><\/p>\n