Molecular Quality Controls Market worth $237 million by 2024

Posted on 2020-04-30 by MarketsandMarkets in Biotech, Healthcare, Pharmaceuticals // 0 Comments

Pune, India, 2020-Apr-30 — /EPR Network/ —

The report “Molecular Quality Controls Market by Product (Independent, Instrument Specific (DNA Sequencing)), Analyte Type (Single Analyte, Multianalyte), Application (Infectious Diseases), End User (IVD Manufacturers, Research Institute) – Global Forecast to 2024″, The market for molecular quality controls is expected to grow from USD 132 million in 2018 to USD 237 million by 2024, at a CAGR of 10.2% during the forecast period. Rising adoption of third-party quality controls, increasing number of accredited clinical laboratories, and the rising demand for external quality assessment support are the key factor driving market growth.

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Independent controls accounted for the largest share of the molecular quality controls market in 2018

Based on product type, the molecular controls market is divided into two major segments—instrument-specific controls and independent controls. The independent controls segment accounted for a larger share of the molecular controls market in 2018. The large share of this segment is attributed to the increasing use of third-party independent quality controls due to their benefits such as longer shelf-life and flexible use across different reagent lots, which help reduce the cost of operations.

Single-analyte controls to account for the largest share of the market during the forecast period

By analyte type, the molecular controls market is segmented into single-analyte controls and multi-analyte controls. Single-analyte controls dominated the molecular controls market in 2018 primarily due to the significant use of singleplex assays in hospitals and the advantages associated with the use of single-analyte controls, such as simple analysis & interpretation and low risk of cross-reactivity.

The APAC molecular quality controls market is projected to grow at the highest rate during the forecast period.

While North America held the largest share of the market in 2018, Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The presence of emerging economies such as China and India and the significant demand for high-quality and accurate diagnostic tests from the large patient population in this region are the major factors supporting the growth of the Asia Pacific molecular quality controls market.

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The prominent players in the molecular quality controls market are SeraCare Life Sciences Inc. (US), ZeptoMetrix Corporation (US), Bio-Rad Laboratories Inc. (US), Microbiologics Inc. (US), and Thermo Fisher Scientific (US).

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