Molecular Diagnostics Market Worth $ 16.58 Billion, Globally, by 2028 at 8.67 % CAGR: Verified Market Research™
JERSEY CITY, N.J., April 22, 2021 /PRNewswire/ -- Rising demand for Point-of-Care testing, demand for self-testing diagnostics, & rising consumer awareness about faster diagnostics. An increase in infectious diseases is also boosting the demand for molecular diagnostics market
Verified Market Research recently published a report, "Molecular Diagnostics Market" by Application (Infectious Diseases, Oncology, Blood Screening, Genetic Tests, Microbiology, and Other Applications), by Technology (Polymerase Chain Reaction (PCR), Isothermal Nucleic Acid Amplification Technology (INAAT), Hybridization (In-Situ Hybridization & Fish), DNA Sequencing and Next-Generation Sequencing, Microarray, and Other Technologies), by Product & Services (Reagents & Kits, Instruments, and Software & Services), and by Geography. According to Verified Market Research, the Global Molecular Diagnostics Market was valued at USD 8.53 Billion in 2020 and is projected to reach USD 16.58 Billion by 2028, growing at a CAGR of 8.67% from 2021 to 2028.
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Browse in-depth TOC on "Molecular Diagnostics Market"
202 - Pages
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Global Molecular Diagnostics Market Overview
Rapid technological advancements leading to accurate results, portability, and cost-effectiveness are expected to be a high-impact rendering driver of the market for molecular diagnostics. Companies are upgrading their products by implementing new techniques to gain specific and accurate results. Sigma Aldrich Corporation and QIAGEN are developing new technologies, such as Transcription-Mediated Amplification (TMA) and Loop-Mediated Isothermal Amplification (LAMP), for the diagnosis of tumors.
In addition, the growing incidence of infectious diseases is expected to propel the market growth over the forecast period. According to WHO estimates, 38.0 million individuals across the globe were living with HIV infection in 2019. Moreover, rising initiatives by market players to improve access to cost-effective resources are anticipated to drive the market for molecular diagnostics. For instance, in July 2019, F. Hoffmann-La Roche Ltd expanded its Global Access Program beyond HIV and included HPV and other infectious diseases to enhance access to early detection and diagnostics for low and middle-income countries.
The major players in the market are Abbott Laboratories, Qiagen N.V., Roche Diagnostics, Hologic, Inc., Grifols, Siemens Healthcare, Becton, Dickinson and Company, Beckman Coulter Inc. (A Wholly Owned Subsidiary of Danaher Corporation), BiomÃ©rieux Sa, and Cepheid Inc.
Verified Market Research has segmented the Global Molecular Diagnostics Market On the basis of Application, Technology, Product & Services, and Geography.
- Molecular Diagnostics Market by Application
- Infectious Diseases
- Blood Screening
- Genetic Tests
- Other Applications
- Molecular Diagnostics Market by Technology
- Polymerase Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Hybridization (In-Situ Hybridization & Fish)
- DNA Sequencing and Next-Generation Sequencing
- Other Technologies
- Molecular Diagnostics Market by Product & Services
- Reagents & Kits
- Software & Services
- Molecular Diagnostics Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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