In 2022, the molecular quality controls market was worth around USD 191.2 million, and it is projected to advance at a 6.4% CAGR from 2022 to 2030, hitting USD 313.7 million in 2030.
This growth can be ascribed to the rising need for external quality assessment provision, the increasing number of qualified clinical labs, the rising government investment for genomics ventures, the snowballing utilization of third-party quality controls, the rising requirement for accurate medicines, the declining price of the sequencing process and hereditary illnesses.
In 2022, the independent controls category led the industry, with the largest revenue share, of approximately 40%, based on product type.
This can be credited to the fact the that they are made independently of reagents, calibrators, and instruments, and tests have the extreme sensitivity rate because of their tremendously unbiased, independent, and sensitivity assessment of a testing system's or technique's performance.
In 2022, North America generated the highest revenue, at approximately 45%. This is because of the high integration of advanced infrastructure, the better number of diagnostic amenities, and the amplified number of authorized clinical labs in the continent.
The second-largest revenue contributor, in the market, is Europe, worldwide. This is mainly because of the snowballing number of cancer research and related biomarkers and the increasing occurrence of cancer.
Hence, the rising need for external quality assessment provision, the increasing number of qualified clinical labs, the rising government investment for genomics ventures, the snowballing utilization of third-party quality controls, the rising requirement for accurate medicines, are the major factors propelling the market.
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