Molecular Quality Controls Industry Analysis, Leading Players and Forecast Report 2030

Posted by Aryan on November 23rd, 2023

In 2022, the molecular quality controls market was worth around USD 191.2 million, and it is projected to advance at a 6.4% CAGR from 2022 to 2030, hitting USD 313.7 million in 2030.

This growth can be ascribed to the rising need for external quality assessment provision, the increasing number of qualified clinical labs, the rising government investment for genomics ventures, the snowballing utilization of third-party quality controls, the rising requirement for accurate medicines, the declining price of the sequencing process and hereditary illnesses.

In 2022, the independent controls category led the industry, with the largest revenue share, of approximately 40%, based on product type.

This can be credited to the fact the that they are made independently of reagents, calibrators, and instruments, and tests have the extreme sensitivity rate because of their tremendously unbiased, independent, and sensitivity assessment of a testing system's or technique's performance.

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In 2022, the single-analyte controls category, generated a higher revenue, of above 60%, and is projected to keep on leading the industry in the coming years as well. This is due to hospitals often utilizing singleplex assays; and utilizing sole-analyte, they have advantages, including easy understanding and analysis and less chance of cross-reactivity, among others.

In 2022, the diagnostic laboratories category had the largest market share, of around 35%, on the basis of the end user.

This can be attributed to the existence of a huge number of qualified laboratories in different regions, which specializes in services utilizing molecular skill; QC methods are being used more commonly; supervisory actions are happening more regularly; molecular diagnostics are turning more costly; and the frequency of chronic illnesses like cancer, Alzheimer and diabetes are increasing, that is why numerous laboratories are opening annually.

In 2022, North America generated the highest revenue, at approximately 45%. This is because of the high integration of advanced infrastructure, the better number of diagnostic amenities, and the amplified number of authorized clinical labs in the continent.

Furthermore, the enhanced medical amenities in Canada and the U.S., the presence of several key manufacturers, and simple access to advanced items and technologies boost the regional industry. In North America, because of its greater patient populace, the U.S. held a larger revenue share.

The second-largest revenue contributor, in the market, is Europe, worldwide. This is mainly because of the snowballing number of cancer research and related biomarkers and the increasing occurrence of cancer.

Hence, the rising need for external quality assessment provision, the increasing number of qualified clinical labs, the rising government investment for genomics ventures, the snowballing utilization of third-party quality controls, the rising requirement for accurate medicines, are the major factors propelling the market.