Molecular Diagnostics Market Research Report: Information By Product (Reagents & Kits, Instruments and Services & Software), Technique (Polymerase Chain Reaction (PCR), Isothermal Amplification, Hybridization, Sequencing, Microarray and others), Application (Infectious Diseases, Oncology, Genetic Tests and others), End User (Hospitals & Clinics, Diagnostic Laboratories and others) – Forecast till 2030
The molecular diagnostics market size is projected to reach USD 29.3 billion by 2030 at 5.7% CAGR during the forecast period 2022-2030. The growing prevalence of infectious disorders, increasing occurrence of various forms of cancer, and advances in molecular testing techniques are primary drivers of molecular diagnostics market development
Molecular diagnostics is a field of medical diagnostics that involves the use of molecular biology techniques, such as DNA and RNA analysis, to diagnose diseases, predict the likelihood of diseases, and inform treatment options. This market encompasses a wide range of applications, including the diagnosis of infectious diseases, cancer, and genetic disorders, and plays a crucial role in the development of personalized medicine. The molecular diagnostics market is a rapidly growing and dynamic industry, driven by advances in technology, increasing demand for more accurate and efficient diagnostics, and the growing prevalence of diseases.
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Molecular Diagnostics Market Segmentation
The Global Molecular Diagnostics Market has been segmented into Product, Technique, Application, and End-User
Based on the Product, the market has been segmented into Reagents & Kits, Instruments, Services & Software.
Based on the Technique, the market has been segmented into Polymerase Chain Reaction (PCR), Isothermal Amplification, Hybridization, Sequencing, Microarray, and Others.
Based on the Application, the market has been segmented into Infectious Diseases, Oncology, Genetic Tests, and Others.
Based on the End-User, the market has been segmented into Hospitals & Clinics, Diagnostic Laboratories, Others
Molecular Diagnostics Market Key Players
Some of the key market players are
- Hoffmann-La Roche Ltd
- Hologic Inc
- Becton Dickinson and Company
- Abbott Laboratories
- Thermo Fisher Scientific
- Agilent Technologies.
Molecular Diagnostics Market Regional Analysis
Europe had the largest revenue share. This is related to the increased prevalence of infectious and chronic illnesses, which has sparked R&D efforts and boosted market expansion. Key factors influencing expansion include a high level of life, consumer awareness of early diagnosis, and an established healthcare system.
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Asia Pacific is expected to see a CAGR throughout the projection period. The Asia Pacific market is anticipated to grow as a result of the region’s constantly growing patient pool, early detection, focused therapy, and early prevention.
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