The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s molecular diagnostics devices and equipment market report forecasts the molecular diagnostics devices and equipment market size to grow to $43.28 Billion by 2027, with a CAGR (compound annual growth rate) of almost 9%.

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Molecular Diagnostics Devices And Equipment Market Size Forecast

The global molecular diagnostics devices and equipment market is expected to grow from $27.65 billion in 2022 to $30.82 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The molecular diagnostics devices and equipment market size is expected to grow from $43.28 billion in 2027 at a CAGR of 8.9%.

Asia-Pacific held the largest molecular diagnostics devices and equipment market share.

Key Molecular Diagnostics Devices And Equipment Market Driver ­– Rise In Various Bacterial And Viral Epidemics

For example, according to the reports from Centres for Disease Control and Prevention (CDC) US in October 2021, melioidosis was declared as a multistate epidemic. 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 B. pseudomallei, InBios, launched Active Meliodosis Detect™ point of care diagnostic test for the detection of B. pseudomallei.

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Key Molecular Diagnostics Devices And Equipment Market Trend – Developing Automated Solutions For Devices And Equipment

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. The major players of the industry are using nanotechnology-based Oral Fluid Nano Sensor Test (OFNASET). The test uses a microfluidic-based nanosensor for the detection of oral cancer biomarkers in saliva. To keep up with the trend of automation and accuracy, Roche, created cobas connection modules (CCM) to improve scalability and sample-flow efficiency by allowing samples to automatically move between different systems and instruments. Thus, creating a fully automated workflow.

Molecular Diagnostics Devices And Equipment Market Segment

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

Molecular Diagnostics Devices And Equipment Market Major Players and Strategies

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.

In March 2021, BioFire Diagnostics receive first marketing authorization from U.S. FDA for its BioFire Respiratory Panel 2.1. The product is a diagnostic product for simultaneous detection of multiple respiratory viral and bacterial nucleic acids in nasopharyngeal swabs obtained from patients.

The Molecular Diagnostics Devices And Equipment Global Market Report 2023 covers regional data on molecular diagnostics devices and equipment market size, molecular diagnostics devices and equipment market trends and drivers, opportunities, strategies, and molecular diagnostics devices and equipment market competitor analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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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