Molecular Diagnostics Market overview

 The Global Molecular Diagnostics Market reached USD 22.8 billion in 2022 and is projected to grow significantly, reaching USD 35.7 billion by 2031. The market is expected to exhibit a CAGR of 5.9% during the forecast period from 2024 to 2031.

The trends in the Molecular Diagnostics Market indicate a rising demand driven by the increasing prevalence of cancerous diseases and advancements in research and development.

Furthermore, the numerous bacterial and viral epidemics, coupled with the rising demand for point-of-care diagnostics, are driving the growth of the molecular diagnostics market. Increased research activities in these areas are leading to higher demand, particularly from North American regions. The competitive landscape is intensifying with key players such as F. Hoffmann-La Roche Ltd, Hologic, Inc., Abbott, and others actively operating in the market, further fueling the growth of the molecular diagnostics market.

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Global molecular diagnostics market outlook

The global molecular diagnostics market is expected to expand significantly due to the rising prevalence of bacterial and viral epidemics, increasing demand for point-of-care diagnostics, and advancements in pharmacogenomics. Recent developments include the launch of a quick point-of-care molecular diagnostic tool on March 15, 2023, which identifies individuals likely to benefit from hypnotherapy for pain treatment. Researchers also identified a subgroup of highly hypnotizable individuals prone to intense postoperative pain, published in The Journal of Molecular Diagnostics. Additionally, researchers developed an SNP genotyping assay using GMR biosensor arrays to identify optimal COMT SNPs in patient DNA samples, enabling rapid installation in point-of-care settings using saliva or blood samples, known for their reliability, affordability, and sensitivity.

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Market segmentations

By Product: Reagents, Instruments, Software & Services

By Application: Oncology, Cardiovascular Diseases, Infectious Diseases, and Others

By End-User: Research Laboratories, Hospitals, and Medical Academics

By Technology: PCR, Hybridization, INAAT, and Others

Related reports

POC Molecular

Cancer Molecular

Molecular

Key players

F Hoffmann-la Roche Ltd, Illumina, Inc., Abbott, BD, Bio-Rad Laboratories, Inc., Hologic, Inc., Agilent Technologies Inc., Myriad Genetics, Inc., Thermo Fisher Scientific Inc. and Danaher among others.

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