Southeast Asia Molecular Diagnostics Market Outlook: Global Opportunity Analysis and Industry Forecast (2024-2031)
Meticulous
Research®—a leading market research company, published a research
report titled, ‘South
East Asia Molecular Diagnostics Market by Offering (Reagents, Kits, Systems, Software), Test Type (Lab,
PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (HIV,
Influenza, HPV, Oncology, Gene Testing), End User - Forecast to 2031’
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According
to this latest publication from Meticulous Research®, the South East
Asia molecular diagnostics market is projected to reach $891.87 million by 2031, at a
CAGR of 7.8% from 2024 to 2031. The growth of the South East Asia molecular
diagnostics market is driven by several factors, including the rising geriatric
population, increasing prevalence of communicable & non-communicable
diseases, technological advancements in molecular diagnostics, and rising
healthcare expenditure. Factors such as emerging medical tourism in South East
Asian countries and increasing focus on companion diagnostics are a few
opportunities that would help grow the market in the future. A shortage of
skilled professionals could be considered a challenge for the South East Asia
molecular diagnostics market. Moreover, the lack of harmonization of the
medical device regulations across South East Asian countries and the high costs
of molecular diagnostic tests restrain the growth of the market.
Key Players
The
key players profiled in the South East Asia molecular diagnostics market report
are Sansure Biotech, Inc. (China), F. Hoffmann-La Roche Ltd. (Switzerland),
Thermo Fisher Scientific Inc. (U.S.), Hologic, Inc. (U.S.), Illumina, Inc.
(U.S.), Xiamen Zeesan Biotech Co., Ltd (China), QIAGEN N.V. (Netherlands),
Danaher Corporation (U.S.), Abbott Laboratories (U.S), Agilent Technologies,
Inc. (U.S.).
Geographic
Review
The
South East Asia molecular diagnostics market is segmented by Offering (Kits
& Reagents, Instruments, Software & Services), Test Type (Laboratory
Tests and Point-of-Care (POC) Tests), Technology (Polymerase Chain Reaction
(PCR), In Situ Hybridization (ISH), Isothermal Nucleic Acid Amplification
Technology (INAAT), Microarrays, Sequencing, Mass Spectrometry, and Other
Technologies), Application (Infectious Diseases [Respiratory Diseases,
Hepatitis, HIV, Chlamydia Trachomatis/Neisseria Gonorrhoeae, Human Papillomavirus
(HPV), Healthcare-Associated Infections (HAIs), and Other Infectious Diseases],
Oncology [Breast Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer,
Lymphoma, Leukemia, Cervical Cancer, and Other Cancer Types], Genetic Testing,
Neurological Diseases, Cardiovascular Diseases, and Other Applications), End
User (Hospitals & Clinics, Diagnostic Laboratories, Academic & Research
Institutes, and Other End Users). The study also evaluates industry competitors
and analyzes the regional and country-level markets.
Among
offerings, in 2024, the kits and
reagents segment is expected to account for the largest share of the market.
The large share of the segment is attributed to the commercial availability of
a diverse range of diagnostic reagents & consumables, the availability of
diseases-specific test kits & assays, and the growing awareness regarding
early disease diagnosis.
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Among test
types, in 2024, the laboratory
test segment is expected to account for the largest share of the market. The
large share of the segment is attributed to the large number of laboratory
tests available in hospitals and laboratories, and the high preference for
laboratory tests owing to the accuracy of the test results supports the largest
share of the market.
Among
technologies, in 2024, the
polymerase chain reaction (PCR) segment is expected to account for the largest
share of the market. The large share of the segment is attributed to benefits,
such as the ability to test multi-drug resistance, its use in several laboratories
and clinical techniques, including DNA fingerprinting, detection of bacteria or
viruses (particularly AIDS), and diagnosis of genetic disorders. Improved PCR
testing capabilities in the laboratories during the COVID-19 pandemic to manage
the growing burden also supported the segment’s largest share.
Among
applications, in 2024, the
infectious diseases segment is expected to account for the largest share of the
market. The large share of the segment is attributed to the rising prevalence
of infectious diseases, the increase in funding for the development of new infectious
disease diagnostic tools, and the emergence of the COVID-19 pandemic. According
to the World Health Organization (WHO), in 2022, the largest number of
tuberculosis (TB) cases occurred in the South-East Asian region, with a
prevalence of 46%. The increasing prevalence of such infections and diseases
leads to the increased demand for rapid, easy-to-use, and affordable infectious
disease testing tools, therefore driving the growth of the segment.
Among end
users, the hospitals &
clinics segment is expected to account for the largest share of the market in
2024. The large share of the segment is attributed to the increased number of
hospitalizations due to various diseases requiring molecular diagnosis and the
proliferation of hospitals and clinics in emerging countries, leading to the
growth in the utilization of molecular diagnostic products. The emergence of
new hospitals in South East Asian countries is leading to the growing demand
for molecular diagnostic tests. For instance, in March 2023, Adventist Hospital
was launched in Palangka Raya, Central Kalimantan, Indonesia, which is a
51-bed, state-of-the-art hospital that offers general medicine, surgery,
obstetrics and gynecology, pediatrics, and critical care services to the
inhabitants of Palangka Raya and nearby communities. This not only increases
the demand for molecular tests but also provides these advanced technologies to
people living in rural areas.
Among
geographies, in 2024, Indonesia
is expected to account for the largest share of the market. The large share of
the segment is attributed to the increasing prevalence of communicable &
non-communicable diseases, growing adoption of molecular diagnostics, increasing
prevalence of cancer and musculoskeletal diseases, rising disposable income,
improvements in the healthcare infrastructure, and the growing healthcare
expenditure. The increasing prevalence of diseases is driving the need for
better healthcare options among patients. In such cases, increasing healthcare
expenditure can help increase people’s access to healthcare and improve the
quality of care. For instance, the healthcare expenditure in Indonesia
increased from USD 8.07 billion in 2019 to USD 17.62 billion in 2022.
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