Molecular Diagnostics Market is Projected to Reach US$ 30.9 Billion in 2027
Molecular Diagnostics Market is expected to reach US$ 30.9 Billion in 2027, growing at a CAGR of 4.6% during 2022-2027, reports Stratview Research.
Raipur, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Molecular Diagnostics Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Molecular Diagnostics Market is driven by a host of factors, some of which are noted below:
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.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Molecular Diagnostics Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
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).
By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
Molecular Diagnostics Market Insights
Market Trends by 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.
Market Trends by 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.
Which region offers the best opportunity and growth?
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.
COVID-19 Impact on the Molecular Diagnostics Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/417/molecular-diagnostics-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
Agilent Technologies, Inc.
BioMerieux SA
Danaher Corporation
F. Hoffmann-La Roche Ltd.
Illumina, Inc.
Novartis AG
QIAGEN N.V.
Siemens Healthineers AG
TBG Diagnostics Limited
Thermo Fisher Scientific Inc.
What deliverables will you get in this report?
In-depth analysis of the Molecular Diagnostics Market
Detailed market segmentation.
Competitive-landscape analysis.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
Related reports which might be useful:
Molecular Clostridium Difficile Diagnostic Equipment Market
Molecular Human Papillomavirus (HPV) Diagnostic Equipment Market
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