Molecular Diagnostics Market: Report Analysis Global Market Revenue and Share by Manufacturers Boosting the Healthcare Industry Worldwide
Research Reports
Jul 17, 2023
Molecular Diagnostics Market Research Report: Information By Product (Reagents & Kits, Instruments, and Services & Software), By Technique (Polymerase Chain Reaction (PCR), Isothermal Amplification, Hybridization, Sequencing, Microarray, and Others), By Application (Infectious Diseases, Oncology, Genetic Tests, and Others), By End User (Hospitals & Clinics, Diagnostic Laboratories, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.
According to MRFR analysis, the Molecular Diagnostics Market is expected to register a CAGR of~5.70% from 2023 to 2032 and hold a value of over USD 30.46 billion by 2032.
Molecular diagnostics is a branch of medical science that uses various techniques to analyze biological markers at the molecular level, such as DNA, RNA, and proteins, to diagnose and monitor diseases. The market includes various diagnostic tests, such as polymerase chain reaction (PCR), next-generation sequencing (NGS), microarrays, and others, which are used for diagnosing and monitoring infectious diseases, genetic disorders, cancer, and other diseases. The molecular diagnostics market is a rapidly growing sector due to the increasing prevalence of chronic diseases, advancements in technology, and the need for personalized medicine.
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The COVID-19 pandemic had a significant impact on the molecular diagnostics market. The market for COVID-19 molecular diagnostic tests, such as PCR and antigen tests, has grown rapidly as governments and healthcare organizations have implemented testing programs to control the spread of the virus. This has led to an increase in the production and supply of molecular diagnostic instruments and reagents, including those used for COVID-19 testing.
Market Segmentation
The Molecular Diagnostics Market has been segmented into product, application and end user.
Based on the product, the market has been segmented into reagents and kits and instruments services & software.
Based on the application, the market has been segmented into infectious diseases, oncology and genetic tests.
Based on the end user, the market has been segmented into hospitals and clinics and diagnostic laboratories.
Key Players
Some of the key market players are:
- Hoffmann-La Roche Ltd
- Hologic Inc.
- QIAGEN
- Becton Dickinson and Company
- Abbott Laboratories
- Cepheid
- Siemens
- Thermo Fisher Scientific
- Agilent Technologies
Regional Analysis
North America is currently the largest region of the molecular diagnostics market, accounting for a significant share of the global market. The region has a well-established healthcare infrastructure, a high prevalence of chronic diseases, and a large number of research activities, which have contributed to the growth of the molecular diagnostics market in this region.
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In North America, the United States is the largest market for molecular diagnostics due to the presence of major market players, a high adoption rate of advanced diagnostic technologies, and a strong focus on research and development. The Canadian market for molecular diagnostics is also growing rapidly due to increasing government funding for research, rising demand for personalized medicine, and a growing number of diagnostic laboratories.
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