According to Stratview Research’s latest report, titled “Molecular Diagnostics Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027”, the Molecular Diagnostics Market is segmented by Product Type (Reagents & Kits, Instruments, and Others), by Technique Type (Polymerase Chain Reaction, Isothermal Amplification, Hybridization, Sequencing, Microarray, and Others), by Application Type (Infectious Diseases, Blood Screening, Oncology, Genetic Tests, and Others), by End-User Type (Hospitals, Diagnostic Laboratories, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World). This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Molecular Diagnostics Market.

Market Insights

According to analysts, the molecular diagnostics market was estimated at USD 23.6 billion in 2021 and is likely to grow at a CAGR of 4.6% during 2022-2027 to reach USD 30.9 billion by 2027.

What is a molecular diagnostic?

Molecular diagnostics is a set of techniques that employ molecular biology to analyze biological markers in the genome and proteome, as well as how cells express their genes as proteins.

Molecular Diagnostics Market COVID Impact

The global pandemic Covid-19 impacted almost every industry and shook the market. However, the pandemic increased the need of developing diagnostic instruments and diagnostic service centers and hence there was a positive impact on the molecular diagnostics market.

Market Dynamics

The molecular diagnostics market is mainly driven by:

  • Increasing incidence of cancer,
  • Growing prevalence of infectious diseases,
  • Increasing occurrence of bacterial and viral diseases,
  • Advancements in molecular diagnostic techniques,
  • Government funding to support R&D in molecular diagnostics.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Molecular Diagnostics Market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market. The vital data provided in the report can play a vital role in assisting market participants and investors in identifying low-hanging fruits available in the market as well as developing growth strategies to accelerate their growth process.

Segments Analysis

Based on the product type, the market is segmented as reagents & kits, instruments, and others. The reagents & kits segment is expected to hold the major share of the market during the forecast period. The high use of reagents in molecular diagnostic testing, increasing demand for over-the-counter diagnostic tests, and growing adoption of these tests in non-medical facilities such as home self-testing are driving the segment's growth.

Based on the application type, the market is segmented as infectious diseases, blood screening, oncology, genetic tests, and others. Infectious diseases are estimated to account for the major share of the market during the forecast period on account of the increasing number of infectious diseases such as SARS-CoV-2, new multidrug-resistant TB, H1N1, and HIV strains.

In terms of regions, North America is expected to be the leading region in the market during the forecast period, owing to a growing geriatric population, increasing demand for point-of-care diagnostics, and outbreaks of bacterial and viral diseases. Furthermore, technological advancements, the presence of well-established diagnostic systems, and development in the healthcare sector are expected to drive market growth during the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

About Stratview Research –

Stratview Research is a leading market research firm that offers wide range of services like syndicated market reports, consulting, sourcing intelligence, and customer research, etc. Stratview Research’s offerings include comprehensive market intelligence in the form of research reports, and consulting services. Our team which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 500 companies.