Nucleic Acid Based Gene Therapy Global Market Report 2023 – By Technology (Anti-Sence and Anti-Gene, Short Inhibitory Sequences, Gene Transfer Therapy, Nucleoside Analogs, Ribozymes, Aptamers, Other Technologies), By Application (Oncology, Muscular Dystrophy/ Muscular Disorders, Rare Diseases), By End User (Hospitals And Clinics, Academic And Research Institutes) – Market Size, Trends, And Global Forecast 2023-2032

Gene therapy refers to a method for treating or curing sickness that alters a person's DNA. Gene treatments can function in a variety of ways: putting a healthy copy of the gene in place of a disease-causing gene, and putting a defective gene that causes an illness inactive. The main types of gene therapy are antigens, cytokines, suicide genes, and others. The antigen is a poison or other foreign substance that triggers an immunological response in the body, including antibody formation. The different vectors include viral vectors, non-viral vectors, and others and are used in oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious diseases, and others. it is implemented in various sectors, such as hospitals, homecare, specialty clinics, and others. The global gene therapy market is segmented - 1) By Gene Type: Antigen, Cytokine, Suicide Gene, and Other Gene Types 2) By Vector: Viral Vector, Non-Viral Vector, Other Vectors 3) By Application: Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Diseases, Other Applications 4) By End Users: Hospitals, Homecare, Specialty Clinics, Other End-Users The global gene therapy market grew from $7.37 billion in 2022 to $9.42 billion in 2023 at a compound annual growth rate (CAGR) of 27.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of gene therapy is expected to grow from $24.03 billion in 2027 at a CAGR of 26.4%. Incidences of cancer and other target diseases have been increasing significantly, which is calling for effective treatments, driving the growth of the gene therapy market. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the gene therapy market during the forecast period. For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. Therefore, the rise in the cancer incidence rate globally is anticipated to boost the demand for the gene therapy market over the forthcoming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancerous cell or the surrounding tissue to cause cell death or slow the growth of cancer. Major players in the gene therapy market are Novartis AG, Bluebird Bio Inc., Spark Therapeutics Inc., Audentes Therapeutics, Voyager Therapeutics, Applied Genetic Technologies Corporation, UniQure N.V., Celgene Corporation, Cellectis S.A., and Sangamo Therapeutics. The high prices of gene therapy medicines are expected to limit the growth of the gene therapy market. The pressure to contain costs and demonstrate value is widespread. Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding. In less wealthy countries, the lack of cost-effective therapies for cancer and other diseases has influenced the health conditions of the population and led to a low average life expectancy. Luxturna, a one-time treatment for acquired retinal eye disease, costs $850,000 in the US and £613,410 in the UK, despite a markdown that is applied through Britain's National Health Service. Zolgensma, for spinal muscular atrophy, is valued at $2.1 million in the US, while Zynteglo, which focuses on a rare genetic blood disorder, costs $1.78 million, thus restraining the growth of the market. The use of machine learning and artificial intelligence is gradually gaining popularity in the gene therapy market. Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is a part of AI. Machine learning and AI help companies in the gene therapy market conduct a detailed analysis of all relevant data, provide insights between tumour and immune cell interactions, and offer a more accurate evaluation of tissue samples, which is often disputed between different evaluators. For instance, since January 2020, GlaxoSmithKline, a pharmaceutical company, has been investing in AI to optimise gene therapy and develop off-the-shelf solutions for patients. It is also expected to reduce turnaround time and the cost of gene therapies. In December 2021, Novartis AG, a Switzerland-based pharmaceutical company specialising in the discovery, development, manufacturing, and commercialization of medicines, acquired Gyroscope Therapeutics Holdings plc for an amount of $800 million. Through this acquisition, GT005, an experimental, one-time gene therapy now in Phase 2 for the treatment of persons with geographic atrophy (GA), will be added to the Novartis portfolio, increasing gene therapy research capabilities and bringing ophthalmic innovation to treat and prevent blindness globally. Gyroscope Therapeutics Holdings plc is a UK-based clinical stage biopharmaceutical company pioneering in the research and development of gene therapies for the treatment of eye related diseases. North America was the largest region in the gene therapy market in 2022. The regions covered in the gene therapy market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the gene therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The gene therapy market includes revenues earned by entities by replacing a disease-causing gene with a healthy copy of the gene and inactivating a disease-causing gene that is not functioning properly. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products. The gene therapy market research report is one of a series of new reports from The Business Research Company that provides gene therapy market statistics, including gene therapy industry global market size, regional shares, competitors with a gene therapy market share, detailed gene therapy market segments, market trends and opportunities, and any further data you may need to thrive in the gene therapy industry. This gene therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Gene editing is a technology that allows genetic material to change genetic code at a particular location in a genome. It involves cell line engineering, animal genetic engineering, and plant genetic engineering. The main technology types of gene editing are CRISPR, TALEN, and ZFN. CRISPR is a novel technology that allows geneticists and medical researchers to edit parts of the genome by removing, inserting, or modifying DNA sequences. The various applications include biotechnology, pharmaceuticals, and contract research organization that are used in animal genetic engineering, plant genetic engineering, and cell line engineering. The global gene editing market is segmented - 1) By Technology: CRISPR, TALEN, ZFN 2) By End Users: Biotechnology, Pharmaceutical, Contract Research Organization 3) By Application: Animal Genetic Engineering, Plant Genetic Engineering, Cell Line Engineering The global gene editing market size will grow from $6.35 billion in 2022 to $7.44 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global gene editing is expected to grow to $14.28 billion in 2027 at a CAGR of 17.7%. The rising infectious diseases act as one of the major drivers of the gene editing market. Gene editing techniques are used for the detection of infectious diseases such as HIV. Infectious diseases are caused by microorganisms like bacteria, viruses, fungi, and parasites. Gene therapy treats infectious diseases by blocking the replication of the infectious agent that causes the disease at the extracellular level. Gene editing introduces new genetic material into the cells of living organisms with the intention of treating diseases for the growth of gene editing market. Major players in the gene editing market are CRISPR, GenScript USA Inc., Horizon Discovery Group PLC., Integrated DNA Technologies, New England Biolabs, OriGene Technologies, Thermo Fisher Scientific, Merck KgaA, GenScript Corporation, Editas Medicine, Lonza Group, Sangamo, DNA 2.0, Bio RAD, Allele, Addgene, Sigma-Aldrich Corporation, Transposagen Biopharmaceuticals, Recombinetics, Precision Biosciences, Promega, Juno Therapeutics, Intellia Therapeutics, Qiagen, GE Healthcare Lonza, Cellectis, Dharmacon, AstraZeneca, and Agilent Technologies. Infectious diseases are constantly on the rise. For instance, according to the World Health Organization (WHO), infectious diseases kill more than 17 million people per year. In addition to that, according to the AP-NORC (a research initiative by the Associated Press and the University of Chicago) survey, out of 1,067 adults in the US surveyed, 71% are in favor of gene editing market for the treatment of incurable, hereditary diseases such as Huntington’s disease and 67% of Americans support the use of gene editing to prevent diseases such as cancer. Ethical issues in general public with respect to gene editing is one of the major restraining factors for the gene editing market. Many researchers and ethicist have argued against gene editing market due to different reasons such as off-target effect (edits in the wrong place), mosaicism (when only some of the cells carry the edits) and safety concerns. Some even argued that gene editing will lead to the creation of classes of individuals who will be genetically modified to be able to do things that a normal human being is not supposed to do according to the laws of nature. Due to these reasons, gene editing is still not considered to be safe and effective by many nations and international organizations. For instance, in 2020, as per the article published in TIME, scientists from Canada, China, France, Germany, Italy, New Zealand, and the USA have proposed a temporary prohibition on research on gene editing on human eggs, embryos, and sperms. Gene editing (also called genome editing) is a group of technologies that allow the researchers to change an organism's DNA by adding, removing or altering genetic material at particular locations in the genome. The emergence of advanced genome editing techniques is one of the major trends in the gene editing market. The new techniques in genome editing are relatively inexpensive and can be used in a variety of application areas such as improving the food supply in agriculture, rectifying specific genetic mutations in the human genome and preventing the spread of diseases. For instance, CRISPR-Cas9 is a gene editing technique and stands for Clustered Regularly Interspace Short Palindromic Repeats. The technique uses a strand of DNA as molecular scissors used to make cuts in DNA at specific points to make space to add new genomes. This technique is faster, cheaper, more accurate and efficient than other existing genome editing methods. Companies investing in CRISPR technology are Crispr therapeutics (CRSP), Intellia Therapeutics (NTLA), and Editas medicine. European regulatory framework divided gene therapy into two categories, germline gene therapy, and somatic gene therapy. In germ line gene therapy, modified genes will be passed on to next generations whereas it’s not the same case with somatic gene therapy. Current regulation by the EU has only allowed somatic gene therapy, therefore, germline gene therapy is banned. The European Medical Association provides guidelines on gene therapy for preparing market authorization application to obtain approval from the authority to carry on research and development activities in gene therapy. For instance, the EU provides guidance note on gene therapy medicinal product which is intended for use in humans, defines scientific principles and provide guidance for development and evaluation of gene therapy products. In December 2020, AnGes MG, Inc., a Japan-based biopharmaceutical company that offers nucleic acid drugs for patients with asthma, allergy, and rheumatism, acquired Emendo Bio, Inc. for $250 million.This acquisition will expand AnGes MG, Inc.'s pipeline and partnerships and introduce gene editing capabilities. Emendo Bio, Inc., a USA-based company that develops next generation gene editing tools for genetic disorders, addresses the current technological gaps for realizing the promise of gene therapy. North America was the largest region in the gene editing market in 2022. Western Europe was the second largest region in the global gene editing market share. The regions covered in the global gene editing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The gene editing market includes revenue earned by zinc-finger nucleases (ZFNs) and homing endonucleases or meganucleases. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The gene editing market research report is one of a series of new reports from The Business Research Company that provides gene editing market statistics, including gene editing industry global market size, regional shares, competitors with a gene editing market share, detailed gene editing market segments, market trends and opportunities, and any further data you may need to thrive in the gene editing industry. This gene editing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Molecular diagnostics devices are used to diagnose infectious diseases and perform screening by detecting specific sequences in DNA or RNA. It helps doctors prescribe more accurate therapeutic interventions in the early stages of a disease. The main products of molecular diagnostics devices (or) equipment are instruments, reagents, and consumables. A reagent is a substance that is used to cause a chemical reaction. Reagents are used to indicate the presence of another substance. The technologies involved are DNA (deoxyribonucleic acid) sequencing, polymerase chain reaction, isothermal nucleic acid amplification technology, transcription-mediated amplification (TMA), in situ hybridization, microarrays, mass spectrometry, and others (southern blotting, northern blotting, and electrophoresis). The various applications are cancer, pharmacogenomics, genetic testing, infectious disease, prenatal, neurological disease, and cardiovascular disease, which are used by various end-users such as diagnostic laboratories, hospitals, and others (nursing homes, blood banks, point of care). The global molecular diagnostics devices and equipment market is segmented - 1) By Product: Instruments, Reagents, Consumables 2) By End User: Diagnostic laboratories, Hospitals, Others( nursing home, blood banks, point of care) 3) By Technology: DNA(Deoxyribonucleic acid) sequencing, Polymerase chain reaction, Isothermal Nucleic Acid Amplification Technology, Transcription Mediated Amplification (TMA), In situ hybridization, Microarrays, Mass spectrometry, Others (southern blotting, northern blotting, electrophoresis) 4) By Application: Cancer, Pharmacogenomics, Genetic testing, Infectious disease, Prenatal, Neurological disease, Cardiovascular disease The global molecular diagnostics devices and equipment market size will grow from $27.65 billion in 2022 to $30.82 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the molecular diagnostics devices and equipment is expected to grow from $43.28 billion in 2027 at a CAGR of 8.9%. The growth in the molecular diagnostic devices and equipment market is attributed to factors such as the rapid rise in various bacterial and viral epidemics. The increase in the spread of diseases increases the demand for early and improved diagnostic methods. To improve the technology to enable the early diagnosis of such diseases, the Government and different organizations extend their financial support towards the major key players of the industry. For example, according to the reports from Centres for Disease Control and Prevention (CDC) US in October 2021, melioidosis was declared as a multistate epidemic. Thus, the rise of such chronic diseases serves as a prime driver for the players in the industry to develop more accurate and sophisticated diagnostic devices and equipment. Following the increase in demand for early diagnosis of B. pseudomallei, InBios, launched Active Meliodosis Detect™ point of care diagnostic test for the detection of B. pseudomallei. Major players in the molecular diagnostics devices (or) equipment market are Roche Ltd., Hologic, QIAGEN, Abbott, Danaher Corporation, Bio-Rad Laboratories, Siemens Healthcare, Becton Dickinson and Company, Cepheid Inc., and bioMerieux S.A. The regulatory process involving the approval of molecular diagnostic tests is often slow. The lack of clear definition coupled with constant changes in the regulations is a challenge for companies developing these kits. In developing nations such as India and China lack of a well-defined regulatory framework negatively impacts the market, irrespective of the presence of a large population. In the US market, because of the changes in the rules and regulations, the products already in the market may also be required to go through Food and Drug Administration (FDA)’s pre-marketing approval process. For example, CLIA (Clinical Laboratory Improvement Amendments Act) in the US certifies the validity of laboratory-based tests but it does not regulate the clinical validity of molecular diagnostic tests. This means that it does not control whether these results are clinically correct. This argument puts a restraint on the industry and opens an argument that FDA should play a greater role in overseeing laboratories. The major players in the molecular diagnostic industry are focusing on developing automated solutions for devices and equipment used for molecular diagnostic processes. Automation of the process will help to enhance the productivity and consistency of the whole diagnostic process. Computerization of the diagnostic process gives reliable and efficient test results that manual testing by various experts does not. The major players of the industry are using nanotechnology-based Oral Fluid Nano Sensor Test (OFNASET). The test uses a microfluidic-based nanosensor for the detection of oral cancer biomarkers in saliva. To keep up with the trend of automation and accuracy, Roche, created cobas connection modules (CCM) to improve scalability and sample-flow efficiency by allowing samples to automatically move between different systems and instruments. Thus, creating a fully automated workflow. The molecular diagnostic devices in the US are approved by Food and Drug Administration's (FDA) Center for Devices and Radiological Health (CDRH). These diagnostics devices are generally approved with an accompanying assay, to evaluate their safety and effectiveness or substantial equivalence regarding the assays they run and the assay's defined performance parameters. However, the same instruments do not require FDA approval or clearance when used for basic scientific research purposes. The European regulatory landscape has become more stringent and technically challenging for medical device companies. The introduction of four different risk classes of diagnostic devices i.e. classes A-D. Class A refers to the lowest risk tests and class D refers to the highest risk test such as HIV testing, blood grouping, and prenatal testing. Most of the genetic testing is classed into class C. The products bearing a CE mark, European approved tests, are safe to use, and are in full compliance. In March 2021, BioFire Diagnostics receive first marketing authorization from U.S. FDA for its BioFire Respiratory Panel 2.1. The product is a diagnostic product for simultaneous detection of multiple respiratory viral and bacterial nucleic acids in nasopharyngeal swabs obtained from patients. Asia-Pacific was the largest region in the global molecular diagnostics devices (or) equipment market in 2022. Western Europe was the second largest market in molecular diagnostics devices (or) equipment market share. The regions covered in the global molecular diagnostics devices (or) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the molecular diagnostics devices (or) equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The molecular diagnostics devices and equipment market consits of sales of thermocycler, single particle mass spectrometers, time-of-flight mass spectrometer (TOF) and others that are used to to detect pathogen and infectious diseases. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. This market is segmented into instruments, reagents, and consumables. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The molecular diagnostics devices (or) equipment market research report is one of a series of new reports from The Business Research Company that provides molecular diagnostics devices (or) equipment market statistics, including molecular diagnostics devices (or) equipment industry global market size, regional shares, competitors with a molecular diagnostics devices (or) equipment market share, detailed molecular diagnostics devices (or) equipment market segments, market trends and opportunities, and any further data you may need to thrive in the molecular diagnostics devices (or) equipment industry. This molecular diagnostics devices (or) equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

NGS-based RNA-sequencing is used to identify and measure the amount of ribonucleic acid (RNA) present in a biological sample at a certain moment, using next-generation sequencing (NGS). The massively parallel sequencing technology known as "next-generation sequencing" (NGS) provides extremely high throughput, scalability, and speed. This approach can ascertain the nucleotide sequence of whole genomes or specific DNA or RNA portions. The main products and services of NGS-based RNA sequencing are sample preparation products, sequencing platforms and consumables, sequencing services, and data analysis, storage, & management. Sample preparation products enable DNA or RNA to stick to the sequencing flowcell and enable identification of the sample. Sample preparation entails the procedures required to convert nucleic acid mixtures from biological samples into various types of libraries that are prepared for NGS technologies. Sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing are the technologies. These sequencing techniques are used in expression profiling analysis, small RNA sequencing, de novo transcriptome assembly, and variant calling and transcriptome epigenetics. NGS-based RNA-sequencing is used by research & academia, hospitals & clinics, pharmaceutical & biotechnology companies, and other end users. The global NGS based RNA sequencing market is segmented - 1) By Product And Service: Sample Preparation Products, Sequencing Platforms and Consumables, Sequencing Services, Data Analysis, Storage, and Management 2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing 3) By Application: Expression Profiling Analysis, Small RNA Sequencing, De Novo Transcriptome Assembly, Variant Calling and Transcriptome Epigenetics 4) By End User: Research & Academia, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Other End Users The global NGS-based rna-sequencing market size grew from $2.22 billion in 2022 to $2.74 billion in 2023 at a compound annual growth rate (CAGR) of 23.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the NGS-based rna-sequencing market is expected to grow to $6.3 billion in 2027 at a CAGR of 23.1%. The growth in precision medicine is driving the NGS-based RNA sequencing market. Precision medicine aids doctors in designing individualized treatment plans and making treatment decisions based on a genetic understanding of the patient's disease. There is a growth in precision medicines for treating severe diseases such as cancer. The NGS-based RNA sequencing helps identify the root cause of disease and prescribe specific precision medicine for treatment. For instance, in September 2021, the Swedish Government invested $21.15 million (SEK 220 million) in the Swedish national infrastructure Genomic Medicine Sweden (GMS), to make it easier to keep integrating precision medicine into Swedish healthcare, ensuring that every person there has to access to more accurate tests and individualized care. Such investments are taking place due to a rise in demand for precision medicines. As the demand for precision medicines increases, the demand for NGS-based RNA sequencing will also increase. Major players in the ngs-based rna-sequencing market are Illumina, Thermo Fischer Scientific, Oxford Nanopore, Agilent Technologies Inc., BGI, PerkinElmer Inc., QIAGEN, Eurofins Scientific, F. Hoffmann-La Roche Ltd., Takara Bio Inc., GENEWIZ Inc., Hamilton Company, Macrogen, and Bio-Rad Laboratories Inc. Strategic Partnership is a key trend in the NGS-based RNA sequencing market. Companies are entering into a partnership with NGS-based RNA sequencing companies to expand in new markets and leverage each other's resources. For instance, in May 2022, The Biomedical Advanced Research and Development Authority (BARDA), a U.S. Department of Health and Human Services, partnered with multiple industry and academic partners. The partnership aims to improve the capacity to swiftly respond to public health emergencies and develop a novel diagnostic capability that covers all recognized and emerging respiratory RNA viruses in a single test. In March 2020, Illumina Inc., a US-based biotechnology company that develops, manufactures, and markets integrated systems for the analysis of genetic variation and biological function, partnered with IDbyDNA Inc. The partnership aims to give laboratories, and hospitals worldwide access to high-fidelity NGS analysis, interpretation, and reporting capabilities. The alliance hopes to enable the widespread distribution of NGS equipment, library prep, and other reagents. IDbyDNA Inc. is a US-based metagenomics technology company. In April 2021, Agilent Technologies, Inc., a US-based company that serves the life sciences, diagnostics, and applied chemical industries by offering analytical equipment, software, services, and consumables for the entire laboratory workflow, acquired Resolution Bioscience for $695 million. Through this acquisition, Agilent will expand its NGS-based cancer diagnostic capabilities and better meet the demands of the rapidly expanding precision medicine market. Agilent's ability to serve clinical diagnostics and biopharma customers is strengthened by the addition of Resolution Bioscience's liquid biopsy-based diagnostic technologies, which also expands the company's opportunities for growth in the diagnostics and genomics sectors. Resolution Bioscience is a US-based company involved in developing and commercializing next-generation sequencing (NGS)-based precision oncology solutions. North America was the largest region in the NGS-based RNA sequencing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in NGS-based RNA sequencing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the NGS-based RNA sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The NGS-based RNA-sequencing market includes revenues earned by ribosomal RNA (rRNA), transfer RNA (tRNA), long ncRNA and many smaller ncRNAs such as microRNA. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The NGS-based RNA sequencing market research report is one of a series of new reports from The Business Research Company that provides NGS-based RNA sequencing market statistics, including NGS-based RNA sequencing industry global market size, regional shares, competitors with a NGS-based RNA sequencing market share, detailed NGS-based RNA sequencing market segments, market trends and opportunities, and any further data you may need to thrive in the NGS-based RNA sequencing industry. This NGS-based RNA sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Medical equipment are devices that can be instrument, apparatus or machine that can be used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting or modifying the structure or function of the body for health purpose. The main types of medical equipment are in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices, hospital supplies, surgical equipment, orthopedic devices, patient monitoring devices, diabetes care devices, nephrology and urology devices, ENT devices, anesthesia and respiratory devices, neurology devices, and wound care devices. In-vitro diagnostics are tests done on samples like blood or tissue that is taken from the human body. In-vitro diagnostics will detect diseases or other conditions and are used to monitor a person’s overall health to cure, treat, or prevent diseases. The type of expenditure involved is public and private. The various product are instruments/equipment and disposables. The various end users involved are hospitals and clinics, homecare, diagnostics centres, and others. The global medical equipment market is segmented - 1) By Type: In-Vitro Diagnostics, Dental Equipment And Supplies, Ophthalmic Devices, Diagnostic Imaging Equipment, Cardiovascular Devices, Hospital Supplies, Surgical Equipment, Orthopedic Devices, Patient Monitoring Devices, Diabetes Care Devices, Nephrology And Urology Devices, ENT Devices, Anesthesia And Respiratory Devices, Neurology Devices, Wound Care Devices 2) By Type of Expenditure: Public, Private 3) By Product: Instruments/Equipment, Disposables 4) By End User: Hospitals And Clinics, Homecare, Diagnostics Centers, Other End Users Subsegments Covered: Point-of-Care Diagnostics Devices And Equipment, Immunochemistry Diagnostic Devices And Equipment, Clinical Chemistry Diagnostics Devices And Equipment, Molecular Diagnostics Devices And Equipment, Microbiology Diagnostic Devices And Equipment, Hemostasis Diagnostic Devices And Equipment, Hematology Diagnostic Devices And Equipment, Immunohematology Diagnostic Devices And Equipment, Therapeutic Dental Equipment, General Dental Devices And Equipment, Dental Diagnostic Imaging Devices And Equipment, Dental Surgical Devices And Equipment, Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment, X-Ray Systems Devices And Equipment, Ultrasound Systems Devices And Equipment, Computed Tomography (CT) Scanners Devices And Equipment, Magnetic Resonance Imaging Systems Devices And Equipment, Cardiovascular Monitoring And Diagnostic Devices And Equipment, Nuclear Imaging Devices And Equipment, Cardiovascular Surgery Devices And Equipment, Cardiac Rhythm Management (CRM) Devices And Equipment, Interventional Cardiology Devices And Equipment, Defibrillator Devices And Equipment, Peripheral Vascular Devices And Equipment, Prosthetic Heart Valve Devices And Equipment, Electrophysiology Devices And Equipment, Cardiac Assist Devices And Equipment, Disposable Hospital Supplies, Sterilization Equipment And Disinfectants, Mobility Aids And Transportation Equipment, Operating Room Equipment, Surgical Sutures And Staples, Handheld Surgical Devices And Equipment, Electrosurgical Devices And Equipment, Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics, Orthopedic Accessories,, Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices And Equipment, Vital Parameter Monitoring Devices And Equipment, Remote Patient Monitoring Devices And Equipment, Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters, Dialysis Devices And Equipment, Urinary Stone Treatment Devices And Equipment, Urinary Incontinence & Pelvic Organ Prolapse Devices And Equipment, Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment, Endoscopy Devices And Equipment, Hearing Aid Devices And Equipment, Hearing Diagnostic Devices And Equipment, ENT Surgical Devices And Equipment, Hearing Implants, Voice Prosthesis Devices And Equipment, Nasal Splints, Respiratory Devices And Equipment (Therapeutic And Diagnostic), Anesthesia Machines, Anesthesia Disposables, Respiratory Disposables, Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices, Traditional Adhesive Dressings, Negative-pressure Wound Therapy (NPWT), Traditional Gauze Dressings, Advanced Wound Care Devices The global medical equipment market grew from $639.75 billion in 2022 to $695.05 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global medical equipment is expected to grow to $922.39 billion in 2027 at a CAGR of 7.3%. The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally, by the year 2020. This is increasing the demand for medical devices used in the diagnosis, prognosis, and treatment of several diseases, thereby driving the demand for medical equipment. These factors are expected to increase the patient pool globally, thereby driving the growth of the medical equipment market during the forecast period. Major companies in the medical equipment market include Medtronic Inc., Abbott Laboratories, Johnson & Johnson, Cardinal Health, Inc., Becton Dickinson, Siemens AG, STRYKER CORPORATION, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., and Boston Scientific Corporation. Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients. These changes are related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes. For instance, according to cookieyed data 2021, in the US, PwC reported that 68% of 200 businesses surveyed intended to spend between $1 million and $10 million to comply with GDPR regulations. The GDPR regulation is an EU law on data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA). It also regulates the export of personal data outside the EU and EEA areas. Additionally, the FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts a strain on investments relating to new product development, thereby affecting the growth of the medical equipment market. Device performance and patient data are available to healthcare service providers and are helping them to improve patient monitoring and overall care quality. Some companies are integrating medical equipment market data with EMR (Electronic Medical Records) to improve transparency and collaboration. As consumer wearables are becoming more common, patient data volumes are increasing and companies are investing in deploying data management, warehousing, and security technologies. For example, Medtronic launched a tool to augment their cardiac devices to securely transfer device data to doctors and allow them to monitor the critical health indicators of their patients. North America was the largest region in the global medical equipment market in 2022. Asia-Pacific was the second largest region in the global medical equipment market share. The regions covered in the medical equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the medical equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The medical equipment market consists of sales of devices used in the diagnosis, treatment and monitoring of medical conditions. The market includes diagnostic devices, imaging devices, surgical devices and patient monitoring devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in the medical equipment market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified medical equipment market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the medical equipment market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The medical equipment market research report is one of a series of new reports from The Business Research Company that provides medical equipment market statistics, including medical equipment industry global medical equipment market size, regional shares, competitors with a medical equipment market share, detailed medical equipment market segments, medical equipment market trends and opportunities, and any further data you may need to thrive in the medical equipment industry. This medical equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Next-generation sequencing is a sequencing technology that offers ultra-high throughput, scalability, and speed. The technology is used to determine the genetic variation associated with diseases or other biological phenomena. The main products in the next-generation sequencing market are NextSeq systems, MiniSeq systems, NovaSeq systems, iSeq 100 systems, ion PGM Systems, Ion Proton systems, ion GeneStudio S5 systems, PacBio RS II Systems, sequel systems, and others. The MiniSeq system merges load-and-go operation with an intuitive user interface for a fast, easy NGS workflow. The MiniSeq System integrates clonal amplification, sequencing through synthesis, and base calling into a single benchtop instrument, preventing the requirement for additional equipment. The various technologies in next-generation sequencing are sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and other sequencing technologies that are used in diagnostics, drug discovery, and other applications. The global next generation sequencing market is segmented - 1) By Product: NextSeq Systems, MiniSeq Systems, NovaSeq Systems, iSeq 100 Systems, Ion PGM Systems, Ion Proton Systems, Ion GeneStudio S5 Systems, PacBio RS II Systems, Sequel Systems, Other Products 2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other Sequencing Technologies 3) By Application: Diagnostics, Drug Discovery, Other Applications The global next generation sequencing market size will grow from $9.22 billion in 2022 to $10.44 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global next generation sequencing is expected to grow to $17.32 billion in 2027 at a CAGR of 13.5%. The growing number of cases with chronic conditions such as cancer, AIDS, and thalassemia contributed to the growth of the next-generation sequencing market. Chronic illnesses and disorders are on the rise around the world, an aging population and shifts in social behavior lead to a gradual increase in these widespread and expensive long-term medical issues. Next-generation sequencing (NGS) is a versatile development tool utilized by researchers and clinicians across various cancer studies to recognize biomarkers that give guidance on treatments. The prevalence of chronic diseases is also expected to increase significantly, according to the World Health Organization. Hence, the increase in the number of chronic disease cases will increase the requirement for NGS sequencing and boosts revenues for the growth of next generation sequencing market. Major players in the next generation sequencing market are Illumina Inc., Thermo Fisher Scientific Inc., BGI Group, Agilent Technologies Inc., Qiagen N.V., Hoffmann-La Roche AG, Eurofins Scientific, Oxford Nanopore Technologies, Pacific Biosciences, and 10x Genomics. The high cost associated with next generation sequencing technologies is a key factor hampering the growth of the next-generation sequencing market. The next-generation sequencing market is facing challenges as many people find it difficult to afford the test due to the high cost. Consumables used for sequencing are the costliest portion of testing (68–72% of total cost) as machinery prices are higher in instances of rare disease. According to a review published on economic evaluations of exome and genome sequencing, the cost of next-generation genome sequencing ranges from $1906 to $24,810 for a single test. Therefore, the high cost of next-generation sequencing is anticipated to restrict market growth over the forecast period. Technological advances are shaping the next generation sequencing market. Major companies operating in the sequencing industry are focusing on developing technologically advanced solutions for next-generation sequencing. For instance, in 2020, Thermo Fisher Scientific introduced hematology-oncology assays for the Ion Torrent Genexus System, which authorize simultaneous analysis of DNA mutations and RNA fusion transcripts in myeloid samples in a single day and also enabled further in which turnaround times for next-generation sequencing (NGS) results could be reduced to less than 24 hours. It also offers researchers the ability to profile 40 DNA targets and 29 fusion driver genes, authorizing observing more than 600 fusion isotypes to recognize biomarkers associated with myeloproliferative neoplasm, acute myeloid leukemia. North America was the largest region in the next generation sequencing market in 2022. Asia-Pacific was the second largest region in the global next generation sequencing market share. The regions covered in the global next generation sequencing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the next generation sequencing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The next generation sequencing market consits of sales of genetic sequencing equipment with advanced features and technologies such as ion semiconductor sequencing, nano-pore sequencing, single-molecule real-time sequencing, and other technologies that are used for next generation sequencing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The next generation sequencing market research report is one of a series of new reports from The Business Research Company that provides next generation sequencing market statistics, including next generation sequencing industry global market size, regional shares, competitors with a next generation sequencing market share, detailed next generation sequencing market segments, market trends and opportunities, and any further data you may need to thrive in the next-generation sequencing industry. This next generation sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Genetic testing refers to a sort of medical examination that looks for alterations in genes, proteins, or chromosomes. A genetic test's results can identify a genetic ailment, as well as determine a person's risk of developing a genetic disorder. Genetic testing is used to confirm specific genetic disorders in children and their conditions based on physical signs and symptoms. The main types of genetic testing are predictive testing, carrier testing, prenatal and newborn testing, diagnostic testing, pharmacogenomic testing, nutrigenomic testing, and other types. The predictive tests are part of a new and rapidly expanding class of medical tests that are fundamentally different from traditional medical diagnostic examinations. The various technologies involved are cytogenetic testing, biochemical testing, and molecular testing and are used for different diseases such as Alzheimer's disease, cancer, cystic fibrosis, sickle cell anemia, Duchenne muscular dystrophy, thalassemia, Huntington's disease, rare diseases, and other diseases. It is used in several applications, such as cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis, and others. The global genetic testing market is segmented - 1) By Type: Predictive Testing, Carrier Testing, Prenatal and Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, Nutrigenomic Testing, Other Types 2) By Technology: Cytogenetic Testing, Biochemical Testing, Molecular Testing 3) By Disease: Alzheimer's Disease, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia, Other Diseases 4) By Application: Cancer Diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, Other Applications The global genetic testing market size grew from $15.42 billion in 2022 to $17.23 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the genetic testing market is expected to grow to $26.21 billion in 2027 at a CAGR of 11.1%. The rising prevalence of genetic disorders is expected to propel the growth of the genetic testing market going forward. Genetic disorders refer to some diseases that cause symptoms at birth, while others develop over time. Genetic testing can help get a diagnosis for a genetic issue and information about the chances of developing cancer. For instance, in November 2021, according to the National Center for Biotechnology Information, a US-based medical organization, genetic illnesses were found in 9.4% of pediatric patients, with 44.7% of these patients being critically ill newborns. Also, 13.17 million patients were suffering from unique genetic disorders in the US. Therefore, the rising prevalence of genetic disorders is driving the genetic testing market. Major players in the genetic testing market are Abbott Laboratories, Bio-Rad Laboratories Inc., Eurofins Scientific, F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN, Thermo Fisher Scientific, Quest Diagnostics, BGI Group, Biocartis Group, 23 and Me Inc., Blueprint Genetics, CSL Limited, bioMerieux SA, PerkinElmer Inc., and Agilent Technologies Inc. Technological advancement is a crucial trend gaining popularity in the genetic testing market. Major companies operating in the genetic testing market are focused on developing technology to sustain their position in the market. For instance, in December 2020, Cell ID Pte. Ltd., a Singapore-based company that manufactures, genetic testing products launched a portable genetic test for COVID-19 named Quiz PCR Biochip. This is a portable palm-sized moveable genetic test kit that utilizes an app to confirm if a person has COVID-19. This device also had a QR code for tracking. This device works on pooled screening technology. This can be easily moveable and can take tests anywhere at any time. In January 2022, Exact Sciences, a US-based molecular diagnostics company that manufactures genetic testing products acquired Prevention Genetics for a deal amount of $190 million. As a result of this acquisition, Exact Sciences aims to increase hereditary cancer testing for more patients. Prevention Genetics is a US-based company that manufactures clinical DNA (genetic) tests for genetic germline (inherited) illnesses. North America was the largest region in the genetic testing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genetic testing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the genetic testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The genetic testing market includes revenues earned by entities by chromosomal genetic tests, molecular genetic tests (or gene tests), biochemical tests, newborn screening, and diagnostic testing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The genetic testing market research report is one of a series of new reports from The Business Research Company that provides genetic testing market statistics, including global market size, regional shares, competitors with a genetic testing market share, detailed genetic testing market segments, market trends and opportunities, and any further data you may need to thrive in the genetic testing industry. This genetic testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Point-of-care (POC) molecular diagnostics refers to tests that detect the presence of specific nucleic acids in a clinical specimen, such as feces, saliva, urine, blood, and tissue. This molecular diagnostic is based on seeing targeted portions of microbial genetic material, DNA or RNA. It is utilized by the healthcare sector to detect emergency usage authorization to diagnose diseases. Point-of-care (POC) molecular diagnostic is used to detection of disease antigens or antibodies in human samples, such as mononucleosis, influenza, and group A streptococcus (GAS). The main product and services of point-of-care molecular diagnostics are assays and kits, instruments and analyzers and software and services. Assays and kits refer to the equipment which is used in carrying out analyses such as studying disease pathways. Assays and kits were widely used for detecting rapid and accurate diagnosing and monitoring various diseases. Reverse transcription-polymerase chain reaction (RT-PCR), in situ-hybridization and sequencing are the technologies used in point-of-care molecular diagnostics that are used for diagnosis of diseases such as respiratory diseases, hospital-acquired infections (HAIs), cancer/oncology, hepatitis and hematology. Decentralized labs, hospitals, home care, and assisted living healthcare facilities use point of care molecular diagnostics. The global point of care molecular diagnostics market is segmented - 1) By Product And Service: Assays And Kits, Instruments And Analyzers, Software And Services 2) By Technology: Reverse Transcription - Polymerase Chain Reaction (RT-PCR), In Situ Hybridization, Sequencing 3) By Application: Respiratory Diseases, Hospital Acquired Infections (HAIs), Cancer/Oncology, Hepatitis, Hematology 4) By End-User: Decentralized Labs, Hospitals, Home Care, Assisted Living Healthcare Facilities The global point-of-care molecular diagnostics market size grew from $2.8 billion in 2022 to $3.14 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the point-of-care molecular diagnostics market is expected to grow to $4.98 billion in 2027 at a CAGR of 12.2%. The rapid growth in the increasing occurrence of infectious and respiratory diseases is expected to significantly contribute to the growth of the point-of-care molecular diagnostics market. Respiratory infections, such as viruses or bacteria, are caused by microorganisms that influence the respiratory system. These microbes can be transferred through coughing, sneezing, or direct touch. The severity of the respiratory medications includes a variety of inhalers, oral medications, intravenous treatments, and point-of-care molecular diagnostic to cure the patient. For instance, in May 2020, an annual Report on MCCD (Medical Certification of Cause of Death) 2020 shows that respiratory system diseases are the second most common cause of death, accounting for 10% of the total medically certified causes of death (88.7%). Furthermore, between 2019 and 2020, the number of deaths caused by respiratory disorders increased from 152,311 to 181,160. Therefore, the rapid occurrence of infectious and respiratory diseases and death will drive the point-of-care-molecular diagnostics market. Major players in the point-of-care molecular diagnostics market are Abbott Laboratories, F Hoffmann-La Roche Ltd., BioMérieux SA, Danaher Corporation, Quidel Corporation, Qiagen Gmbh, Biocartis NV, Nova Biomedical, Thermo Fisher Scientific, Dickinson and Company, Mesa Biotech Inc., OraSure Technologies Inc., Bio-Rad Laboratories Inc., Sysmex, Siemens Healthineers, Bayer HealthCare Pharmaceuticals LLC, Alere Inc., Lucira Health Inc., Cue Health, OpGen Inc., Binx Health Inc., Molbio Diagnostics Pct Ltd., Genomadix, Visby Medical, QuikPath PTE Ltd., QuantuMDx Group Ltd and Sekisui Medical Co Ltd. Technological innovation is a key trend gaining popularity in the point-of-care molecular diagnostics market. Major companies operating in the point-of-care molecular diagnostics market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation point-of-care molecular diagnostics technologies solutions and related services, such as enzyme-linked immunosorbent assay (ELISA), polymerase chain reaction (PCR), and mass spectrometry (MS), situ hybridizations, spectral karyotyping imaging, DNA microarrays, and others to implement on POC devices with features of accelerating analysis times and lowering costs. For instance, in March 2020, Abbott Laboratories, a US-based medical device company, launched the molecular point-of-care test available for detecting new COVID-19 (COVID-19). According to the company, the device shows positive results in five minutes and negative in 13 minutes. This test will run on the ID NOW™ platform with isothermal nucleic acid amplification technology that generates molecular results in minutes. In February 2021, Thermo Fisher Scientific, a US-based supplier of scientific instrumentation, reagents, consumables, and software services firm acquired Mesa Biotech for an undisclosed amount. With this acquisition, Thermo Fisher Scientific will expand into molecular diagnostics at the point-of-care by bringing much-needed diagnostics to market on a larger scale. Mesa Biotech is a US-based point-of-care molecular diagnostic company. North America was the largest region in the point-of-care molecular diagnostics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point-of-care molecular diagnostics market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the point-of-care molecular diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The point-of-care (POC) molecular diagnostics market includes revenues earned by AAT, antigen, or antibody tests. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The point-of-care molecular diagnostics market research report is one of a series of new reports from The Business Research Company that provides point-of-care molecular diagnostics market statistics, including point-of-care molecular diagnostics industry global market size, regional shares, competitors with a point-of-care molecular diagnostics market share, detailed point-of-care molecular diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the point-of-care molecular diagnostics industry. This point-of-care molecular diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.