Molecular Quality Controls Market: Notable Developments & Geographical Outlook

Posted by Ganesh Shinde on November 24th, 2022

According to the market research report by Future Market Insights, the global Molecular Quality Controls Market is estimated to increase at a CAGR of 6.7%, from US$ 164 million in 2021 to US$ 226 million by 2026.

Attributes 

Details

Molecular Quality Controls Market CAGR (2022 – 2032)

 7%

 Molecular Quality Controls Market (2026)

US$ 226 Mn

 Molecular Quality Controls Market Attraction

Asia Pacific to hold attractiveness

The rising adoption of third-party quality controls, the growing number of accredited clinical laboratories, the rising demand for external quality assessment support, increasing government funding to support genomics projects, increasing demand for personalized medicines, declining sequencing costs, and the rising prevalence of infectious diseases, cancer, and genetic diseases are all driving molecular quality controls market forward.

The COVID-19 pandemic had a detrimental impact on molecular quality controls sales. As governments increasingly loosen their prohibitions on migration, there is a rise in testing numbers.

With the COVID-19 pandemic, dealing with infectious illness has become a major medical concern throughout the world. There is an increasing demand for more precise and easy testing methods, as well as the expansion of testing structures. Companies have also made strategic decisions to deploy COVID-19 quick testing, maintain revenue, and mitigate COVID-19's influence on their operating capabilities.

Due to the expanding global burden of various diseases, the number of laboratory tests performed has grown. The number of laboratories in both the public and private sectors is growing to satisfy this need.

Setting up a quality control process in a clinical laboratory necessitates a large financial commitment. Laboratories must also have specialized people to supervise the quality control system.

Regardless of the number of tests completed, QC procedures entail equal expenses. As a result, the expense of implementing QC processes in clinical laboratories that perform modest quantities of diagnostic tests is prohibitively expensive. This, along with funding restrictions in many hospitals and laboratories in both developed and emerging economies, is projected to lead to a decreased adoption of quality-control techniques.

New multi-analyte and multi-instrument controls have been developed as a result of technological improvements. These cutting-edge controls combine many instrument-specific controls into a single control, allowing clinical laboratories to save money. In addition, these controls save time by eliminating the need for separate QC processes for each analyte.

In the next years, the increased availability of such molecular quality controls for infectious disease diagnostics and other applications is likely to drive market expansion.

Key Takeaways:

  • The Asia Pacific molecular quality controls market is expected to reach US$ 72.07 million in 2028 from US$ 34.27 million in 2021; it is estimated to grow at a CAGR of 11.2%.
  • The European molecular quality controls market is expected to reach US$ 109.59 million by 2028 from US$ 55.76 million in 2021; it is estimated to grow at a CAGR of 10.1%.
  • The growing implementation of genomic sequencing in healthcare systems is supported by substantial government investments, totaling over US$ 4 billion by at least 14 countries.

Key Segments
  By Analyte:

  • Single-analyte Controls
  • Multi-analyte Controls

  By Product Type:

  • Independent controls
  • Instrument-specific controls

  By Application:

  • Infectious Diseases Diagnostics
  • Oncology Testing and Genetic testing

  By End User:

  • Diagnostic laboratories
  • Hospitals
  • IVD manufacturer & CROs
  • Academic & Research Institutes

Browse More@ https://www.futuremarketinsights.com/reports/molecular-quality-controls-market

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Ganesh Shinde

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Ganesh Shinde
Joined: October 27th, 2022
Articles Posted: 133

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