Molecular Quality Controls Market Worth $226 Million by 2026 - Global Trends, Growth, Share Analysis, Leading Players, Business Opportunities

PUNE, MAHARASHTRA -- (SBWire) -- 12/05/2022 --The Global "Molecular Quality Controls Market size is expected to grow from USD 164 million in 2021 to USD 226 million by 2026, at a CAGR of 6.7% during the forecast period. The growth of this market is primarily driven by factors such as the rising adoption of third-party quality controls, increasing 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 and declining costs of sequencing procedures and increasing prevalence of infectious diseases, cancer & genetic diseases.

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Key Market Player

The prominent players in the molecular quality controls market are F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific, Inc. (US), Randox Laboratories Ltd. (UK), LGC Limited (UK), Abbott Laboratories (US), Fortress Diagnostics (UK), SERO AS (Norway), Anchor Molecular (US), Ortho-Clinical Diagnostics, Inc. (US), Quidel Corporation (US), Sun Diagnostics, Seegene Inc. (South Korea), ZeptoMetrix, LLC (US), Qnostics (UK), Bio-Techne Corporation (US), Microbiologics, Inc. (US), Microbix Biosystems Inc. (Canada), SpeeDx Pty. Ltd. (Australia), Maine Molecular Quality Controls, Inc. (US), and Grifols, S.A. (Spain).

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LGC Limited (UK) held the leading position in the molecular quality controls market. The company provides a wide range of quality controls and reference materials under its flagship brands ACCURUN and Seraseq. The company also offers customer support services, technical support, and training for its diagnostic kits to various end users. SeraCare provides assurance in test results for oncology, non-invasive prenatal testing, and infectious disease identification with its advanced quality control technology. The company is focusing on organic strategies such as product launches to maintain and increase its share in the market. In the past three years, SeraCare launched 19 new molecular quality control materials under its brand name Seraseq and AccuPlex. In June 2021, LGC SeraCare expanded its line of SARS-CoV-2 molecular quality solutions to include AccuPlex SARS-CoV-2 Variant Panel 1. These product launches helped the company in strengthening its presence in the molecular quality controls market.

Thermo Fisher Scientific, Inc. held the second position in the global molecular quality controls market. The company is a leading provider of molecular quality control products. The company offers a robust portfolio of quality controls for clinical chemistry, molecular control, microbiology, serology, serum toxicology testing, specimen validity testing, and therapeutic drug monitoring (TDM). With its strong geographic presence and wide distribution networks, the company has established itself as a leader in the global molecular quality controls market. To sustain its leading position and further increase its share in the market, the company focuses on organic and inorganic growth strategies. Thermo Fisher assisted with the pandemic response by quickly developing the Applied Biosystems TaqPath COVID-19 Combo Kit. This kit was granted emergency use authorization in the US in March 2020, followed by similar authorizations worldwide. The company launched the Thermo Fisher Scientific COVID-19 product line, which greatly increased its inventory of COVID-19-related items. The company invested USD 1.20 billion in R&D to deliver newer technologies by creating reliable and innovative products.

Bio-Rad Laboratories held the third position in the molecular quality controls market. The company supplies more than 3,000 products covering more than 300 clinical diagnostic tests. It has a wide range of product offerings for the Life Science and Clinical Diagnostics segments. To maintain its leading position in this market, the company has adopted inorganic growth strategies such as partnerships and acquisitions. The company focuses on inorganic growth strategies to diversify its product portfolio. For instance, in May 2021, Bio-Rad entered a global partnership with Roche Diagnostics (Switzerland) to provide their customers access to Bio-Rad's complete line of InteliQ products and Unity QC data management solutions along with customer training and support services. Similarly, in February 2020, the company acquired Exact Diagnostics (US) to access a comprehensive catalog of molecular quality control products in transplant, respiratory, virology, microbiology, sexually transmitted infections, and vector-borne diseases.

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

The molecular quality control market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America was the largest regional market for molecular quality controls due to the developed healthcare system in the US and Canada, the presence of many leading molecular quality control product manufacturers in the region, and the easy accessibility to technologically advanced products in the region. However, the market in the 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 market.

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