As per this study the Global Molecular Diagnostics Market was valued USD 35.89 BN (by revenue) in 2022 and is anticipated to reach USD 40.11 BN by 2030 with a CAGR of 1.4%.
Molecular diagnostics describes a class of diagnostic tests that assess a person's health specifically at a molecular level, detecting and measuring specific genetic sequences in DNA or RNA or the proteins they express. Molecular diagnostics identify the gene, RNA, and protein variations that specifies whether a specific person is predisposed to have a disease, whether they actually have a disease or whether a specific treatment option is likely to be effective for a specific disease. Molecular diagnostics tests can also detect and quantify the presence of specific viruses, bacteria, or types of cells.
Market Dynamics
The rising prevalence of infectious diseases such as tuberculosis, hepatitis and various types of cancer are the major factors boosting the market growth of molecular diagnostics. Moreover, rising government initiatives in order to standardize biopharmaceutical and health sector are also expected to expand the market growth over the forecast period. However, the high cost of diagnosis and lack of experienced professionals are some factors restraining market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis, and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of molecular diagnostics.
Market Segmentation
The broad molecular diagnostics market has been sub-grouped into technology, application, product, and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product
- Instruments
- Reagents
- Others
By Test Location
- Point-of-Care
- Self-test or Over the Counter
- Central Laboratories
By Technology
- Polymerase chain reaction (PCR)
- In Situ Hybridization (ISH)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Chips and Microarrays
- Mass Spectrometry
- Sequencing
- Transcription Mediated Amplification (TMA)
- Others
By Application
- Oncology
- Pharmacogenomics
- Infectious Diseases
- Genetic Testing
- Neurological Disease
- Cardiovascular Disease
- Microbiology
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for molecular diagnostics in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Molecular Diagnostics Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the molecular diagnostics market include BD, bioMérieux SA, Bio-Rad Laboratories Inc., Abbott, Agilent Technologies Inc., Danaher, Hologic Inc. (Gen Probe), Illumina Inc., Johnson & Johnson Services Inc., Grifols, S.A., QIAGEN, F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Sysmex Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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