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Molecular Diagnostics Market - Segments Worth Observing Aiding Growth Factors

12-06-2022 04:12 AM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Molecular Diagnostics Market

Molecular Diagnostics Market

Allied Market Research published a report, titled, "Molecular Diagnostics Market by Type (Instruments, Reagents, Software & Services), by Technology (Polymerase Chain Reaction (PCR), Hybridization, DNA sequencing, Microarray, Isothermal Nucleic Acid Amplification Technology (INAAT), Others), by Application (Infectious diseases, Oncology, Genetic testing, Blood screening, Others), by End User (Hospital, Reference Labortories, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030. " According to the report, the global molecular diagnostics industry was estimated at $9.2 billion in 2020, and is anticipated to hit $23.9 billion by 2030, registering a CAGR of 9.86% from 2021 to 2030.

Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/2170

Drivers, restraints, and opportunities-

Increase in the prevalence of infectious diseases and various types of cancer drives the growth of the molecular diagnostics market. On the other hand, stringent regulatory requirements for the approval of new molecular diagnostics techniques are expected to hinder the growth of the market. However, surge in adoption of the molecular diagnostics in the emerging economies is projected to offer numerous opportunities in the industry.

Covid-19 Scenario-

Surge in Covid-19 cases led to a steep incline in demand for real time polymerase chain reaction (RT-PCR) test to detect COVID-19, thereby impacting the global molecular diagnostics market positively.
This trend is most likely to continue till the pandemic is completely over.
The reagents segment to dominate by 2030-

Based on product type, the reagents segment accounted for more than half of the global molecular diagnostics market share in 2020, and is anticipated to rule the roost by 2030. The same segment would also cite the fastest CAGR of 10.16% throughout the forecast period. Advancement in R&D activities in pharmaceutical & biotechnology industry, increase in demand for reagents, and surge in adoption of point-of-care testing drive the segment growth.

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The infectious diseases segment to maintain the lion's share-

Based on application, the infectious diseases segment held nearly half of the global molecular diagnostics market revenue in 2020, and is expected to lead the trail by 2030, due to the growing incidence of infectious diseases such as SARS-COV-19. The genetic testing segment, on the other hand, would manifest the fastest CAGR of 10.31% from 2021 to 2030. This is attributed to the increase in the prevalence of genetic diseases among individuals across the world.

North America garnered the major share in 2020-

Based on region, North America, held the major share in 2020, generating more than two-fifths of the global molecular diagnostics market, due to the presence of large number of key players across the region. At the same time, the market across Asia-Pacific would grow at the fastest CAGR of 10.78% by 2030, owing to higher adoption & increased use of molecular diagnostics, rapidly growing geriatric population, and rise in the incidence of infectious diseases across the province.

Key players in the industry-

• Abbott Laboratories
• Agilent Technologies Inc.
• Becton Dickinson And Company
• Biomérieux Sa
• Danaher Corporation
• F. Hoffmon La-Roche Ltd
• Grifols S.A
• Hologic Inc.
• Qiagen Inc
• Siemens Ag (Siemens Healthineers)

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Molecular Diagnostics Market- https://www.alliedmarketresearch.com/molecular-diagnostics-market

Diabetes Therapeutics Market - https://www.alliedmarketresearch.com/diabetes-therapeutics-market

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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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