Molecular Diagnostics Market to Reach $13.81 Billion, Globally, by 2027 at 8.2% CAGR | Top Players are Roche Diagnostics, QIAGEN, Danaher, Hologic, etc

According to the current analysis of Reports and Data, the global Molecular Diagnostics Market was valued at USD 7.28 Billion in 2020 and is expected to reach USD 13.81 Billion by year 2027, at a CAGR of 8.2%. The increasing efficiency of clinical trials, growing incidence of infectious and neurological diseases, and technological advancements in molecular pathology are major driving factors being the growth of the market. The increasing government aid for research and establishment of advanced testing facilities is also supporting the growth of the market.

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The developing economies of India and China face some challenges in the form of the lack of a well-built procedural system for approvals, which hinders the growth of the molecular diagnostics market. Moreover, a shortage of skilled medical professionals is also limiting the growth of the market in many countries.

Key players in the Molecular Diagnostic market:- Abbott, Roche Diagnostics, QIAGEN, Danaher, Hologic, Becton, Siemens Healthcare GmbH, Bio-Rad Laboratories, Dickinson and Co., Cepheid, etc

For the purpose of this report, Reports and Data has segmented the Molecular Diagnostics market on the basis of product and service, technology, application, end use, and region:

Product and Service (Revenue, USD Million; 2020–2026)
• Reagents and Kits
• Instruments
• Services and Software

Technology (Revenue, USD Million; 2020–2026)
• Polymerase Chain Reaction (PCR)
• Isothermal Nucleic Acid Amplification Technology (INAAT)
• DNA Sequencing & Next-Generation Sequencing (NGS)
• in Situ Hybridization
• DNA Microarray
• Other Technologies

Application (Revenue, USD Million; 2020–2026)
• Infectious Diseases (Hepatitis, HIV, CT/NG, HAIS, HPV, Tuberculosis, Influenza, Other Infectious Diseases)
• Oncology (Breast Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer, Other Cancers)
• Genetic Tests
• Others

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End Use (Revenue, USD Million; 2020–2026)
• Hospital and Academic Laboratories
• Reference Laboratories
• Others

Regional Outlook (Revenue in USD Million; 2020–2026)
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Further key findings from the report suggest:-
In Situ Hybridization is also a high growth registering technology because of the rising number of cancer cases and the resultant need of early diagnosis. Ongoing research and greater targeted funding are pushing the growth of this technology forward.

By application, infectious diseases form the largest segment as they make the maximum usage of Molecular Diagnostics for diagnosis and therapeutic purposes. The incidence of infectious diseases has been increasing and government support is strong to eradicate their spread.

The oncology segment, by application, is expected to register the highest CAGR during the period of forecast. The colorectal cancer molecular diagnostics, in particular, has been registering an impressive rate of growth during the forecast period.

The instruments segment is expected to register a high CAGR during the forecast period. The demand for instruments is mainly driven by testing laboratories and clinics.

Based on end user, hospitals and academic laboratories hold the largest share in the Molecular Diagnostics market. A strong research-driven growth and increasing cases of disease, especially in the geriatric population, contribute to this share.

By region, North America is the most developed region due to an impressive growth in medical science and the presence of a highly skilled medical personnel. The high research funding also goes a long way in maintaining the fast pace of advancement in the field.

The Veterinary Molecular Diagnostics market is witnessing a blooming growth as fungicidal therapies are being increasingly developed. Moreover, the development of specific assays and reagents has also contributed to the growth of the market.

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Based on product and service type, the reagents and kits segment held the largest share in the market in base year 2018. The increasing ease of usage and a widening applicability of reagents and kits is boosting market growth.

Based on technology, the Polymerase Chain Reaction (PCR) segment held the largest share in the global Molecular Diagnostics market. The penetration of technological advancements in medical science along with the growing automation of PCR instruments contributes to this share.

The key questions answered in the report:
1. What is the speculated rate of growth and market valuation in the forecasted period?
2. What are the key factors driving the Global Molecular Diagnostic Market?
3. What are the risks and challenges in front of the market?
4. Who are the key vendors in the Global Molecular Diagnostic Market?
5. What are the trending factors influencing the market shares?
6. What is the outcome of Porter’s Five Forces analysis?
7. Which are the global opportunities for expanding the Global Molecular Diagnostic Market?

Reasons for buying this research report:
Identification of key factors useful in the changing Global Molecular Diagnostic Market scenario, and for exploiting new opportunities and gaining a competitive edge.

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Table of Contents:
Chapter 1: Global Molecular Diagnostic Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Market Competition by Manufacturers
Chapter 4: Production, Revenue (Value) by Region
Chapter 5: Regional analysis based on consumption, sales, export, and import
Chapter 6: Production, Revenue (Value), Price Trend by Type
Chapter 7: Global Molecular Diagnostic Market Analysis by Application
Chapter 8: Manufacturing Cost Analysis
Chapter 9: Raw material upstream and downstream chain of the industry
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Molecular Diagnostic Market Forecast

Importance of the global Molecular Diagnostic market report:

The Molecular Diagnostic report consists of streamlined financial data obtained from various research sources to provide specific and accurate analysis. An in-depth analysis of the market trends of the Molecular Diagnostic industry and how the factors affect its functioning. The key factors are also segmented into drivers and restraints for increased comprehensibility and understanding.

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Customization of reports for refined and specific research is available. This provision is made available to optimize the usability of the Molecular Diagnostic market report for individuals based on their individual requirements. The specifications and bifurcations in the product type, region, and players can be made on request for a customized report.

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