Global Molecular Diagnostics Market 2023

Global Molecular Diagnostics Market 2023

Description
Molecular diagnostics techniques have revolutionized the field of diagnosing and monitoring infectious diseases. With the high prevalence of infectious diseases, there is an increasing demand for molecular diagnostic products and services, which is expected to drive market growth in the coming years. The global molecular diagnostics market is likely to register a CAGR of over 5.89% with an incremental growth of USD 5.9 billion during the forecast period 2023-2029.

The molecular diagnostics market is primarily driven by the occurrence of large outbreaks of bacterial and viral epidemics worldwide. These outbreaks create a pressing need for rapid and accurate diagnosis of infectious diseases, thereby increasing the demand for molecular diagnostic tests.

Another significant factor contributing to the market growth is the rising demand for point-of-care diagnostics. Healthcare professionals increasingly rely on portable devices for molecular diagnostics at the point of care. These devices enable faster results and immediate decision-making, leading to a surge in demand for such technologies.

The market is also propelled by the continuous evolution of molecular diagnostic technologies and recent advancements in pharmacogenomics. Ongoing advancements in these areas enhance the precision, speed, and efficiency of molecular diagnostic tests, thereby driving their adoption in clinical settings.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global molecular diagnostics market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Market Segmentation
Technology: in situ hybridization, chips and microarrays, mass spectrometry (MS), sequencing, PCR, others
Product: instruments, reagents, others
Application: infectious disease, oncology, pharmacogenomics, genetic disease screening, human leukocyte antigen typing, others
End user: hospitals, laboratories, others
Region: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the technology, product, application, end user, and region. The global market for molecular diagnostics can be segmented by technology: in situ hybridization, chips and microarrays, mass spectrometry (MS), sequencing, PCR, others. According to the research, the PCR segment had the largest share in the global molecular diagnostics market. Molecular diagnostics market is further segmented by product: instruments, reagents, others. In 2022, the reagents segment made up the largest share of revenue generated by the molecular diagnostics market. Based on application, the molecular diagnostics market is segmented into: infectious disease, oncology, pharmacogenomics, genetic disease screening, human leukocyte antigen typing, others. Among these, the infectious disease segment was accounted for the highest revenue generator in 2022. On the basis of end user, the molecular diagnostics market also can be divided into: hospitals, laboratories, others. The hospitals segment captured the largest share of the market in 2022. Molecular diagnostics market by region is categorized into: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America. According to the research, North America had the largest share in the global molecular diagnostics market.

Major Companies and Competitive Landscape
The report also provides analysis of the key companies of the industry and their detailed company profiles including Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Company, Biomerieux SA, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-la Roche Ltd., Hologic, Inc., Illumina, Inc., Myriad Genetics Inc., Qiagen N.V., Sysmex Corporation, Thermo Fisher Scientific Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report
To analyze and forecast the market size of the global molecular diagnostics market.
To classify and forecast the global molecular diagnostics market based on technology, product, application, end user, region.
To identify drivers and challenges for the global molecular diagnostics market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global molecular diagnostics market.
To identify and analyze the profile of leading players operating in the global molecular diagnostics market.

Why Choose This Report
Gain a reliable outlook of the global molecular diagnostics market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
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