Technological advancements in molecular testing techniques and increasing prevalence of different types of cancer and neurological disorders are key factors fueling global market revenue growth.
Technological advancements in molecular testing techniques and increasing prevalence of different types of cancer and neurological disorders are key factors fueling global market revenue growth
The global molecular diagnostics market size is expected to reach USD 50.94 Billion in 2030 and register a revenue CAGR of 12.4% over the forecast period, according to the latest report by Reports and Data. Government initiatives to promote molecular testing, increasing geriatric population, and rising cases of various infectious diseases across the world are key factors boosting global market revenue growth.
Increased investment in molecular diagnostics Research & Development (R&D) for development of advanced tools and methods for early diagnosis of cancer and other diseases is driving growth of molecular diagnostic market. Increase in funding by government across the globe for development of advanced testing kits & instruments and infrastructural developments in healthcare sector are further supporting market revenue growth. With the ability to identify specific genetic variations in patients, molecular diagnostics represents an invaluable tool kit for current health professionals who can chart highly individualized treatment plans for their patients. Therefore, molecular diagnostic techniques have gained rapid traction over the last few years and are widely used in laboratories, research institutes, and hospitals for various purposes.
Testing and screening operations are becoming advanced as molecular diagnostics are being utilized broadly for amplification and discovery purposes. Increasing adoption of self-testing kits is fueling growth of the market. However, many hospitals and reference laboratories in developing countries find it difficult to afford costly instruments & kits. This is expected to hamper global market growth in the coming years.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/945
Some Key Highlights from the Report
- In November 2021, Hoffmann-La Roche, a Switzerland-based company, launched cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark. It is built upon the innovation of the cobas® 6800 and cobas® 8800 systems, making molecular testing accessible to more patients around the world.
- In 2020 reagents & kits segment accounted for largest revenue share. Increasing investments by market players to develop improved and effective kits to cater to rising diseases and high demand for reagents & kits in research, clinical laboratories, and hospitals are fueling segment revenue growth.
- Polymerase chain reaction (PCR) segment revenue is expected to register significant growth rate over the forecast period because of increasing usage of PCR in proteomics and genomics, automation of PCR instruments, and emergence of advanced technologies such as qRT-PCR.
- Infectious disease segment accounted for largest revenue share in 2020. As prevalence of infectious diseases worldwide is rising, need for early detection and treatment of these diseases is also increasing, which is boosting demand for molecular diagnostic kits.
- Diagnostic laboratories segment revenue is expected to register high growth rate during the forecast period due to constantly rising demand for molecular diagnostic tests to detect infectious diseases and cancer.
- Market in Asia Pacific is expected to register high revenue growth rate during the forecast period. Rapid revenue growth is attributed to growing awareness about early detection of disease, high patient pool, rapid developments in healthcare infrastructure and facilities, and ongoing research on diagnostic procedures.
- Companies profiled in the global market report includes Abbott, F. Hoffmann-La Roche Ltd, QIAGEN, Danaher, Hologic Inc., Becton Dickinson and Co (BD), Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc., and Cepheid.
Get In detailed Research Study @ https://www.reportsanddata.com/report-detail/global-molecular-diagnostics-market
For the purpose of this report, Reports and Data has segmented the molecular diagnostics market based on product & services, technology, application, end-use, and region:
Product & Services Outlook (Revenue, USD Billion; 2018–2030)
- Reagents & Kits
- Instruments
- Services & Software
Technology Outlook (Revenue, USD Billion; 2018–2030)
- Polymerase Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology
- DNA Sequencing & Next-generation Sequencing (NGS)
- In Situ Hybridization
- DNA Microarray
- Other Technologies
Application Outlook (Revenue, USD Billion; 2018–2030)
- Infectious Diseases
- Hepatitis
- Human Immunodeficiency Virus (HIV)
- Chlamydia Trachomatis / Neisseria Gonorrhoeae(CT/NG)
- Healthcare-associated Infections (HAIS)
- Human Papillomavirus (HPV)
- Tuberculosis
- Influenza
- Other Infectious Diseases
- Oncology
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Prostate Cancer
- Other Cancers
- Genetic Tests
- Other Tests
End-use Outlook (Revenue, USD Billion; 2018–2030)
- Hospitals
- Diagnostic Laboratories
- Others
Download Summary @ https://www.reportsanddata.com/download-summary-form/945
Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Ask for Customize Research Report @ https://www.reportsanddata.com/request-customization-form/945
Some points on how the report benefits stakeholders:
- The reports include historical (2019–2020) and forecast (2021–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
Explore Latest Trending Research Reports By Reports and Data’s
Facial Treatment Market , By Product Type (Laser-based Devices, RF Devices, Ultrasound Devices, IPL Devices, LED Devices), By Application (Men, Women), By End-use (Dermatology Clinics, Beauty Clinics), and By Region Forecast to 2028
Bovine Vaccines Market By Product (Anti-rinderpest Serum, FMD Vaccine), By Application (Farms, Government, Laboratory), and By Region Forecast 2028
Oral Thin Films Market By Product (Sublingual Film, Fast Dissolving Oral Film, and Buccal Film), By Disease Indication (Schizophrenia, Migraine, Opioid Dependence, Nausea & Vomiting, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), By End-Use, And By Region Forecast to 2028
Nerve Stimulators Market By Product Type (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Gastric Electric Stimulators), By Application, and By Region Forecast to 2028
Antibody-drug Conjugates (ADCs) Market , By Technology (Cleavable Linker, Non-cleavable Linker, Linker Less, Immunogen Technology, Immunomedics Technology), By Application (Breast Cancer, Lung Cancer, Colon & Rectum Cancer, Prostate Cancer, Liver Cancer, Stomach Cancer, Skin Cancer), By End-use, and By Region Forecast to 2028
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
Read Latest Press Release @ https://www.reportsanddata.com/press-release/molecular-diagnostic-market