The global molecular diagnostics market size was valued at USD 9,682.4 million in 2021 and is poised to grow at a significant CAGR of 10.1% during the forecast period 2022-28. Increase in the prevalence of infectious diseases and various cancers, a rise in demand for personalized medicines, technological advancements in the diagnostic tests, and rise in the preference for biomarker identification tests are anticipated to fuel the molecular diagnostics market. Moreover, a rise in geriatric population, increase in healthcare expenditure, developed healthcare infrastructure, and favourable government initiatives for preventing the genetic disorders are also expected to boost the molecular diagnostics market over the forecast period. However, stringent regulatory policies, high cost for testing, issues with quality control, and lack of reimbursement policies for the diagnosis might restrain the growth of molecular diagnostics market.

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The global molecular diagnostics market are the tests that are carried out for the detection of sequences present in the DNA and RNA including deletions, insertions, rearrangements, single nucleotide polymorphism, and others for the diagnosis of diseases. Global Market cumulative techniques analyze the biological markers at a molecular level, like proteome and genome. Molecular diagnostics are commonly used in the diagnosis of cancer, infectious diseases, and others. These are also used in the genetic predisposition checking to a disease.  

The global molecular diagnostics market segmentation:
1) By Technology: Polymerase chain reaction, Microarray, Next-generation sequencing, Isothermal nucleic acid amplification, Hybridization, Others.
2) By Application: Caner, Blood screening, Infectious diseases, Microbiology, Genetic tests, Others.
3) By End User: Hospitals, Diagnostic Centres, Research institutes, Others.

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Geographically, global molecular diagnostics market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Increase in the prevalence of various infectious diseases, rise in the government funding for the research in molecular diagnostics, wide range of applications, and availability of skilled workforce in North America anticipated to create dominant for molecular diagnostics in the region. Europe market is growing significantly owing to well-developed healthcare infrastructure, initiatives for the prevention of genetic disorders, and increase the number of biotechnological companies is driving the molecular diagnostics market. Moreover, rise in geriatric population in Japan China, and India, an increase in the prevalence of infectious diseases and cancer in Asia Pacific has created lucrative growth for molecular diagnostics market in the region.

The molecular diagnostics market key players are Danaher Corporation (U.S), Biomerieux (Sofiana s.a.) (France), Beckman Coulter, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Siemens Healthcare GmbH (Germany)

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