The Molecular Diagnostics Devices And Equipment Market Share, Market Size, And Growth Rate 2022
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The molecular diagnostics devices and equipment market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 9%, as per The Business Research Company’s market report!
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The Molecular Diagnostics Devices And Equipment Market Size In 2022 And Forecast
The global molecular diagnostics devices and equipment market grew from $24.19 billion in 2021 to $27.46 billion in 2022 at a compound annual growth rate (CAGR) of 13.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The molecular diagnostics devices and equipment market is expected to grow to $38.86 billion in 2026 at a CAGR of 9.1%.
The molecular diagnostics devices (or) equipment market consists of sales of molecular diagnostics devices and related services.
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Rise In The Various Bacterial And Viral Epidemics Is Driving The Growth Of The Molecular Diagnostics Devices And Equipment Market
For example, according to the reports from Centres for Disease Control and Prevention (CDC) US, as of March 2019, 72 Zika virus disease cases were reported in U.S state and 148 Zika virus disease cases reported in US Territories. Thus, the rise of such chronic diseases serves as a prime driver for the players in the industry to develop more accurate and sophisticated diagnostic devices and equipment. Following the increase in demand for early diagnosis of Zika virus, Co-Diagnostics, Inc. in February 2019 launched its first multi-disease molecular diagnostic test for dengue, chikungunya, and Zika.
Competitive Landscape And The Regional Analysis Of The Molecular Diagnostics Devices And Equipment Market
Major players in the molecular diagnostics devices and equipment market are Roche Ltd, Hologic, QIAGEN, Abbott, Danaher Corporation, Bio-Rad Laboratories, Siemens Healthcare, Becton Dickinson and Company, Cepheid Inc, and bioMerieux S.A.
Additionally, as per TBRC’s research – Asia Pacific was the largest region in the molecular diagnostics devices and equipment market in 2021 holding the largest market share.
The Molecular Diagnostics Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the molecular diagnostics devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the molecular diagnostics devices and equipment market.
Developing Automated Solutions – A Key Trend In The Molecular Diagnostics Devices And Equipment Market
The major players in the molecular diagnostic industry are focusing on developing automated solutions for devices and equipment used for molecular diagnostic processes. Automation of the process will help to enhance the productivity and consistency of the whole diagnostic process. Computerization of the diagnostic process gives reliable and efficient test results that manual testing by various experts does not.
Molecular Diagnostics Devices And Equipment Market Segmentation By The Business Research Company
1) By Product: Instruments, Reagents, Consumables
2) By End User: Diagnostic laboratories, Hospitals, Others( nursing home, blood banks, point of care)
3) By Technology: DNA(Deoxyribonucleic acid) sequencing, Polymerase chain reaction, Isothermal Nucleic Acid Amplification Technology, Transcription Mediated Amplification (TMA), In situ hybridization, Microarrays, Mass spectrometry, Others (southern blotting, northern blotting, electrophoresis)
4) By Application: Cancer, Pharmacogenomics, Genetic testing, Infectious disease, Prenatal, Neurological disease, Cardiovascular disease
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