Molecular Diagnostics Market Size, Share, Growth & Report 2023-2028

Global Molecular Diagnostics Market Overview 2023-2028

Molecular diagnostics is a branch of medical testing that involves detecting and analyzing genetic materials, such as deoxyribonucleic acid (DNA) and ribonucleic acid (RNA), to diagnose, monitor, and predict diseases. It focuses on analyzing genetic material and allows for a detailed examination of specific genes, mutations, and variations. It offers high sensitivity and specificity and assists in diagnosing and managing genetic disorders by identifying gene mutations responsible for the condition. It aids in the early diagnosis of various health issues, including genetic disorders, infectious diseases, and cancer. Besides this, it enables prenatal screening and diagnosis of congenital abnormalities and provides valuable information for informed decision-making during pregnancy.

The global molecular diagnostics market size reached US$ 18.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

Global Molecular Diagnostics Market Trends and Drivers:

The increasing prevalence of genetic disorders, coupled with growing awareness among individuals, represents one of the key factors catalyzing the demand for molecular tests that identify genetic mutations and variations. Additionally, the rising adoption of non-invasive prenatal testing (NIPT) to check chromosomal abnormalities without invasive procedures is strengthening the growth of the market. Moreover, ongoing innovations in genomic sequencing and analysis technologies are enabling more rapid and cost-effective molecular diagnostic tests and supporting the market growth. Furthermore, the integration of molecular diagnostics with digital health platforms allows seamless data sharing, remote monitoring, and personalized health management, which is contributing to market growth.

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Global Molecular Diagnostics Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, Biomerieux SA, Danaher Corporation, Diasorin Molecular LLC (DiaSorin), F. Hoffmann-La Roche AG (Roche Holding AG), Hologic Inc., Illumina Inc., Myriad Genetics Inc., Qiagen, Quidel Corporation and Thermo Fisher Scientific.

The report segmented the market on the basis of region, product, technology, application and end users.

Breakup by Product:

• Reagents and Kits
• Instruments
• Software and Services

Breakup by Technology:

• Polymerase Chain Reactions (PCR)
• Hybridization
• DNA Sequencing
• Microarray
• Isothermal Nucleic Acid Amplification Technology (INAAT)
• Others

Breakup by Application:

• Infectious Diseases Diagnostics
• Oncology
• Genetic Testing
• Blood Screening
• Others

Breakup by End Users:

• Hospitals
• Laboratories
• Others

Breakup By Regions:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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