Asia Pacific Molecular Quality Controls Market is expected to reach US$ 72.07 Mn by 2028

PRESS RELEASE BY The Insight Partners 28 Jul 2021

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The independent controls segment by product is estimated to lead the market growth during the forecast period.

According to The Insight Partners market research study of “Asia Pacific Molecular Quality Controls Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Analyte Type, Application, End User and Country.” The report highlights trends prevailing in the Asia Pacific molecular quality controls market and the factors driving market along with those that act as hindrances.

The Asia Pacific molecular quality controls market, by product, is segmented into independent controls and instrument specific controls. The independent controls segment held the largest share of the market in 2020 whereas the same is anticipated to register the highest CAGR in the market during the forecast period.

According to the WHO suggestions, 30–50% of deaths caused due to cancer can be prevented by adequate treatment in early stages. In this scenario, personalized medicine offers the most promising approach to tackle diseases that have not been well-known for responding effectively to the existing treatments or cures. Further, digitization is enabling doctors to make decisions about a patient’s cancer treatment, based on the genetic make-up of tumors or cancerous tissues. Thus, these advancements are making personalized medicine a reality by enabling the development of highly targeted therapies that offer the potential for improved treatment outcomes, especially for cancer patients. Moreover, personalized medicine considers genetic, environmental, and lifestyle variability. Hence, the increasing adoption of personalized medicines, based on patient’s genetic information, for disease treatments is expected to emerge as a notable trend in the molecular quality controls market in the coming years. Also, the cost of genome sequencing, as well as next-generation sequencing, has dropped radically in the past 6–7 years. Moreover, the process requires a lesser number of days for completion. Lowering costs and accelerating overall process enable service providers to secure larger profit margins, along with helping them expand their clientele. Thus, the lowered cost of genome sequencing is propelling the number of molecular biology procedures carried out for different purpose, thereby driving the use of molecular quality controls.

The Asia Pacific region is highly affected by the outbreak of the COVID-19 pandemic. Rising prevalence of COVID-19 and launch of PCR tests for detection COVID-19 support the growth of the market in near future forecast period. Growing initiative for quality assurance in the region is also likely to favor market growth. For instance, in India, Indian Council of Medical Research allocated 30 quality control (QC) laboratories to verify results of other laboratories in their respective areas. This helped in establishing quality of diagnosis. Therefore, the outbreak of the COVID-19 pandemic is estimated to affect high impact on Asia Pacific molecular quality controls industry.

Factors such as growing funds for genomics, declining cost of sequencing procedures, and increasing prevalence of genetic diseases fuel the growth of the market. However, the dearth of skilled professionals hinders the market growth.

THERMO FISHER SCIENTIFIC INC., BIO-RAD LABORATORIES INC., HOFFMANN-LA ROCHE LTD., Abbott, Quidel Corporation, Microbiologics, and Seracare Life Sciences are among the leading companies operating in the Asia Pacific molecular quality controls market.

The report segments in Asia Pacific Molecular Quality Controls Market as follows:

By Product

  • Independent Controls
  • Instrument Specific Controls
    • PCR
    • DNA Sequencing and NGS

By Analyte Type

  • Single Analyte Controls
  • Multi Analyte Controls

By Application

  • Infectious Diseases
  • Oncology
  • Genetic Testing
  • Other Applications

By End User    

  • Clinical Laboratories
  • Hospitals
  • IVD Manufacturers & Contract Research Organizations
  • Academic & Research Institutes
  • Other End Users

By Country

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

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