Innovations in molecular diagnostics leading to automation of instruments are resulting in expanded applications of molecular assay beyond just identification purposes. The automated molecular assays having reduced handling errors and enhanced limits of detection and quantitation are leading to the usage of molecular assays in therapeutic monitoring and drug prescription selection with an objective of avoiding toxicity and other side effects. The shift in paradigm of clinical laboratory testing and medicine have led to improved pharmacogenomics and patient stratification. Innovations in the novel detection of pathogens and microRNAs are contributing to the continued expansion of the market by changing the landscape of personalized care. Advancements in automated molecular assays are resulting in the elimination of discriminatory testing necessities for patients.
Modernized assays with improved efficacy are increasingly adopted all over the world, as these assays offer certain advantages such as data reliability, increased speed, ability of performing multiple assays at a time, which is resulting in reduced cost and high level of precision. Modification in the assays by medical laboratories for identification of rare diseases, innovations in the next generation molecular assays having cutting-edge technologies such as single molecule counting, improved automation in the molecular assays targeting drug efficacy issues such as antibiotic resistance detection, etc., are driving the global automated molecular assay market. However, issues related to the manufacturing stability of assays and detection of degenerated proteins are resulting in reduced clinical utility of automated molecular assay, which in turn are restraining the market.
The global automated molecular assay market can be segmented in terms of technique, testing type, application, end-user, and region. Based on technique, the market can be segmented into polymerase chain reaction (PCR), Enzyme-Linked Immuno-Sorbent Assay (ELISA), microarrays, lab-on-chip assays, gene expression profiling assays, and other biochemical assays. In terms of testing type, the market can be segmented into blood screening, virus screening, genetic material testing, oncological testing, and STD testing. The virus screening segment can be further sub-segmented into HPV testing, HIV testing, influenza testing, HCV testing, and others. Based on application, the market can be segmented into infection detection, blood donor screening, genomic profiling, molecular biomarker analysis, and others. In terms of end-user, the market can be segmented into hospitals, academic and research institutes, biopharmaceutical companies, and others.
Based on region, the Automated Molecular Assay market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global market during the forecast period due to strong distribution networks of major market players, advances in molecular diagnostics leading to early detection of metabolites, proteins, DNA or RNA, and availability of skilled workforce to handle the instrumentation of automated assay. Asia Pacific is likely to witness an exponential growth during the forecast period, due to improvements in healthcare infrastructure, increasing number of regional manufacturers offering affordable yet technologically advanced products, and rising investments in research and development for innovations in the screening methodologies.
Development of proper reimbursement policies serve as a major opportunity for the global market. Multiple pathogen detection assays through advancements in the in-vitro detection techniques including genomics and proteomics are a growing trend in the global automated molecular assay market. Innovations in automated molecular assays include the ability to detect new variants of viruses, modifications in the genome of pathogens, and others. New product launches in the global market are primarily focused on detection of novel oncologic biomarkers, so as to allow the early detection of cancer.
Key players operating in the global automated molecular assay market include F. Hoffmann-La Roche Ltd, Luminex Corporation, Molecular Devices, LLC, Becton, Dickinson and Company, Siemens Healthcare GmbH, Tecan Trading AG, Agilent Technologies Inc., Thermo Fisher Scientific Inc., Invivoscribe, and Myriad Genetics, Inc. among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.