Global Molecular Diagnostics Devices And Equipment Market Projected to Reach $24.77 Billion by 2029 at a CAGR of 6.8%
Discover trends, market shifts, and competitive outlooks for the molecular diagnostics devices and equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#What Are the Key Milestones in the Molecular Diagnostics Devices And Equipment Market’s Growth Trajectory From 2025 To 2034?
In recent years, the market size of molecular diagnostics devices and equipment has significantly expanded. Predictions show that it is set to increase from $17.58 billion in 2024 to $19.01 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%. This growth in the historic period can be credited to factors such as heightened funding, increased spending in healthcare, economic development in emerging markets, swift technological progress, the emergence of new forms of pathogenic infestations, and a rapidly increasing elderly population.
Anticipated to witness a robust expansion in the forthcoming years, the market size for molecular diagnostics devices and equipment is projected to reach $24.77 billion by 2029, escalating at a compound annual growth rate (CAGR) of 6.8%. This predicted growth during the forecast period is largely due to the quick ascent in numerous bacterial and viral epidemics, an aging demographic, enhanced healthcare accessibility, a rising incidence of chronic diseases, and an escalating demand for molecular diagnostic devices and equipment in light of the COVID-19 pandemic. Key forward-looking trends encompass automation within the molecular diagnostics sector, implementation of artificial intelligence, heightened demand for molecular diagnostic devices for researching rare diseases, a growing embrace of big data, utilising next-generation sequencing for newborn screening, and the use of point-of-care molecular diagnostics (POC mdx).
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What are the Fundamental Drivers and Innovations Shaping the Molecular Diagnostics Devices And Equipment Market?
The surge in instances of infectious diseases is anticipated to fuel the expansion of the molecular diagnostic devices and equipment market in the future. Infectious diseases are characterized by pathological microorganisms like bacteria, viruses, fungi, or parasites, which can be spread from one person to another or from animals to humans. The increasing rate of these diseases is influenced by antimicrobial resistance, globalization and travel, urbanization, socioeconomic inequalities, and an aging population. Molecular diagnostic devices and equipment play a crucial role in detecting and managing these infectious diseases. As an illustration, the Office for National Statistics, a government department based in the UK, reported in March 2023 that the UK registered 619 COVID-19 related deaths in the week ending on 17 March 2023, a rise from 605 the previous week. During this week, 4.5% of all deaths in the UK were due to COVID-19, a slight decline from 4.6% the week before. Consequently, the growing prevalence of infectious diseases is stimulating the expansion of the molecular diagnostic devices and equipment market.
How Is the Molecular Diagnostics Devices And Equipment Market Segmented?
The molecular diagnostics devices and equipment market covered in this report is segmented –
1) By Product: Instruments, Reagents And Consumables, Software
2) By Technology: DNA(Deoxyribonucleic acid) sequencing, Polymerase chain reaction, Isothermal Nucleic Acid Amplification Technology, Transcription Mediated Amplification (TMA), In situ hybridization, Microarrays, Mass spectrometry, Other Technologies
3) By Application: Cancer, Pharmacogenomics, Genetic testing, Infectious disease, Prenatal, Other Applications
4) By End User: Diagnostic laboratories, Hospitals, Other End Users
Subsegments:
1) By Instruments: Polymerase Chain Reaction (PCR) Machines, Nucleic Acid Analyzers, DNA Sequencers, Microarrays
2) By Reagents And Consumables: PCR Reagents, DNA Probes And Primers, Sample Preparation Kits, Control And Calibration Materials
3) By Software: Data Analysis Software, Laboratory Information Management Systems (LIMS), Bioinformatics Software, Integration Software For Instrumentation
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Which Regions Are Driving the Next Phase of the Molecular Diagnostics Devices And Equipment Market Growth?
Asia-Pacific was the largest region in the global molecular diagnostics devices (or) equipment market in 2024. Western Europe was the second largest market in molecular diagnostics devices (or) equipment market. The regions covered in the molecular diagnostics devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Key Trends Are Shaping the Future of the Molecular Diagnostics Devices And Equipment Market?
Leading entities in the molecular diagnostic sector are prioritizing the development of automated solutions for their molecular diagnostics devices and tools. This type of automation will increase the productivity and uniformity of the entire diagnostic operation. The digitalization of the diagnostic procedure offers dependable and efficient results which cannot be achieved by manual testing from different experts. Key industry figures are now utilising nanotechnology-powered Oral Fluid Nano Sensor Test (OFNASET) catering to the detection of oral cancer biomarkers present in saliva. Keeping pace with the trend towards automation and precision, Roche has engineered cobas connection modules (CCM) to enhance scalability and sample-flow efficiency. This is achieved by automating the movement of samples across various systems and instruments, establishing a fully automated workflow.
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How Is the Molecular Diagnostics Devices And Equipment Market Defined and What Are Its Core Parameters?
Molecular diagnostics devices are used to diagnose infectious diseases and perform screening by detecting specific sequences in DNA or RNA. It helps doctors prescribe more accurate therapeutic interventions in the early stages of a disease.
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