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The molecular diagnostics market is forecasted to achieve growth in the coming few years with a forecast CAGR (compound annual growth rate) of -1%, as per The Business Research Company’s market report!

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The Molecular Diagnostics Market Size In 2022 And Forecast

The global molecular diagnostics market is expected to grow from $49.49 billion in 2021 to $49.64 billion in 2022 at a compound annual growth rate (CAGR) of 0.3%. The global molecular diagnostics market size is expected to decline to $47.78 billion in 2026 at a compound annual growth rate (CAGR) of -1.0%.

The molecular diagnostics market consists of sales of molecular diagnostics services and related products by entities (organizations, sole traders, partnership) that are utilised to direct patient management, from diagnosis to treatment, especially in the treatment of congenital anomalies, infectious diseases, and cancer.

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Rise In Prevalence Of Infectious Diseases And Cancers Of Different Forms Is Driving The Growth Of The Molecular Diagnostics Market

For instance, in 2020, according to the National Cancer Institute, a US-based government agency, an estimated 1,806,590 new cases of cancer would be diagnosed in the United States and 606,520 people would die from the disease. Therefore, the increasing prevalence of cancer is driving the growth of the molecular diagnostic market.

Competitive Landscape And The Regional Analysis Of The Molecular Diagnostics Market

Major players in the molecular diagnostics market are Becton, BioMérieux SA, Danaher Corporation, Grifols, Hologic Inc., Novartis AG, QIAGEN, Siemens Healthcare GmbH, Abbott, and Dickinson and Company.

Additionally, as per TBRC’s research – North America was the largest region in the molecular diagnostics market in 2021 holding the largest market share.

The Molecular Diagnostics 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 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 market.

Advancing Genomics And Proteomics – A Key Trend In The Molecular Diagnostics Market

Polymerase chain reaction (PCR) is a recent development in genomics and helps in discovering new approaches to molecular diagnosis for disease diagnosis and pathogenesis of diseases. This enables better monitoring and a fast diagnosis and major organizations are investing to have a competitive edge.

Molecular Diagnostics Market Segmentation By The Business Research Company

1) By Technology: Polymerase Chain Reaction (PCR), DNA Sequencing, and Next-Generation Sequencing

2) By Product: Instruments, Reagents and Consumables, Software and Services

3) By Application: Oncology, Pharmacogenomics, Infectious Diseases, Genetic Testing, Neurological Disease, Cardiovascular Disease, Microbiology, and Others

4) By End-User: Hospitals, Laboratories, and Others (Blood Banks, Home Health Agencies, and Nursing Homes)

Here Are Some Reports Related To The Molecular Diagnostics Market –

Molecular Diagnostics Devices And Equipment Global Market Report 2022

Oncology Molecular Diagnostics Global Market Report 2022

Point-Of-Care Molecular Diagnostics Global Market Report 2022

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