DUBLIN, Feb. 24, 2023 /PRNewswire/ — The “Molecular Diagnostic Market by Product (Reagents & Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, INAAT, Sequencing, Microarray), Application (Infectious Diseases, Oncology), End User (Hospital, Diagnostic Lab) – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The molecular diagnostics market is expected to reach $46.69 billion by 2030, at a CAGR of 5.6% from 2023 to 2030.
The growth of this market is driven by the rising global geriatric population, the increasing prevalence of communicable & non-communicable diseases, technological advancements in molecular diagnostics, and rising healthcare expenditures.
However, unfavorable regulatory frameworks and the high costs of molecular diagnostic tests restrain the growth of this market. Growth opportunities in emerging countries, increasing focus on companion diagnostics, and the rising popularity of direct-to-consumer (DTC) genetic testing are expected to offer growth opportunities for the players operating in this market.
Based on product & service, in 2023, the kits & reagents segment is estimated to account for the largest share of the molecular diagnostics market. The large market share of this segment is attributed to technological advancements and increased usage of diagnostic kits in healthcare settings.
Based on test type, in 2023, the laboratory test segment is estimated to account for the largest share of the molecular diagnostics market. The large market share of this segment is attributed to its benefits, such as various activities that can be carried out in one room, such as sample processing, diagnosis, and further analysis of the results.
Based on technology, in 2023, the polymerase chain reaction (PCR) segment is estimated to account for the largest share of the molecular diagnostics market. The large market share of this segment is attributed to the advantages of the technology over others, such as the specific detection of rare DNA sequences with accuracy and the launch of advanced high throughput PCR devices.
Based on application, in 2023, the infectious diseases segment is estimated to account for the largest share of the molecular diagnostics market. The large market share of this segment is attributed to the rising prevalence of infectious diseases globally, which includes hepatitis, HIV, healthcare-associated infections (HAIs), and influenza, among others. As these are not age-specific, molecular diagnosis is required for every person affected by these infectious diseases.
Based on end user, in 2023, the hospitals & clinics segment is estimated to account for the largest share of the molecular diagnostics market. The large market share of this segment is attributed to the increase in the number of diagnostic tests done, especially during the COVID-19 pandemic, the rise in technological advancement for diagnostic platforms in hospitals, and the availability of skilled professionals.
In 2023, North America is estimated to account for the largest share of the molecular diagnostics market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The rise in prevalence of chronic diseases, increase in venture capital funding, increase in healthcare expenditure, and presence of key companies.
- F. Hoffmann-La Roche Ltd
- Hologic Inc.
- QIAGEN N.V.
- Danaher Corporation
- bioMerieux S.A.
- Becton, Dickinson and Company
- Siemens Healthineers AG
- DiaSorin S.p.A.
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- Illumina Inc.Seegene Inc. .
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Insights
4.2.1. Rising Global Geriatric Population
4.2.2. Rising Prevalence of Communicable and Non-communicable Diseases
4.2.3. Technological Advancements in Molecular Diagnostics
4.2.4. Rising Healthcare Expenditure
4.3.1. Unfavorable Regulatory Framework
4.3.2. High Costs of Molecular Diagnostic Tests
4.4.1. Growing Scope in Emerging Economies
4.4.2. Increasing Focus on Companion Diagnostics
4.4.3. Rising Popularity of Direct-to-Consumer (DTC) Genetic Testing
4.5.1. Shortage of Skilled Professionals
4.6.1. Integration of Artificial Intelligence and Machine Learning
4.7. The Impact of COVID-19 on the Global Molecular Diagnostics Market
5. Pricing Analysis
6. Global Molecular Diagnostics Market: Regulatory Analysis
6.1. North America
6.4. Latin America
6.5. Middle East & Africa
7. Global Molecular Diagnostics Market, by Product & Service
7.2. Kits & Reagents
7.4. Software & Services
8. Global Molecular Diagnostics Market, by Test Type
8.2. Laboratory Tests
8.3. Point-of-Care (PoC) Tests
9. Global Molecular Diagnostics Market, by Technology
9.2. Polymerase Chain Reaction (PCR)
9.3. In Situ Hybridization (ISH)
9.4. Isothermal Nucleic Acid Amplification Technology (INAAT)
9.6. Mass Spectrometry
9.8. Other Technologies
10. Global Molecular Diagnostics Market, by Application
10.2. Infectious Diseases
10.2.4. Chlamydia trachomatis/Neisseria gonorrhoeae (CT/NG)
10.2.5. Human papillomavirus (HPV)
10.2.8. Healthcare-associated Infections (HAIs)
10.2.9. Other Infectious Diseases
10.3.1. Breast Cancer
10.3.2. Colorectal Cancer
10.3.3. Lung Cancer
10.3.4. Prostate Cancer
10.3.7. Cervical Cancer
10.3.8. Other Cancer Types
10.4. Genetic Testing
10.5. Neurological Diseases
10.6. Cardiovascular Diseases
10.7. Other Applications
11. Global Molecular Diagnostics Market, by End User
11.2. Hospitals & Clinics
11.3. Diagnostic Laboratories
11.4. Academic & Research Institutes
11.5. Other End Users
12. Molecular Diagnostics Market, by Geography
12.2. North America
12.3.6. Rest of Europe
12.4.5. Rest of Asia-Pacific
12.5. Latin America
12.5.3. Rest of Latin America
12.6. Middle East & Africa
13. Competitive Landscape
13.2. Key Growth Strategies
13.3. Competitive Benchmarking
13.3.1. Competitive Benchmarking, by Product
13.4. Market Share Analysis (2022)
For more information about this report visit https://www.researchandmarkets.com/r/g7vqvp
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