Molecular Diagnostics Market Future Prediction Report By 2028

According to our latest study on "Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Disease Area, Technology, Product and Services, End User, and Geography," the market is valued at US$ 16,258.97 million in 2021 and is expected to reach US$ 36,176.65 million in 2028; it is estimated to record a CAGR of 12.1% from 2022-2028. The report highlights the trends and drivers prevailing in the molecular diagnostics market.

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Molecular diagnostics is considered among the most reliable method to identify and analyze a microorganism. Molecular diagnostics helps in better testing, quick identification of the organism's strain and drug susceptibility. Technological advancements, like a polymerase chain reaction (PCR), and others, the rising application of molecular diagnostics is expected to drive the market during the forecast period.

Competitive Landscape: Molecular Diagnostics Market: Abbott, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., TBG Diagnostics Limited, QIAGEN, bioMérieux SA, Siemens Healthineers AG, Illumina, Inc., Danaher, Novartis AG are among the several players engaged in addressing the growing demands for molecular diagnostics market.

Increase in Demand for Point-of-Care and Developments by Market Players to Drive the Molecular Diagnostics Market Growth:
Point-of-Care (POC) is one emerging healthcare service, which is being aggressively adopted by patients and the healthcare service providers alike. It is extensively used in various healthcare processes, such as treatment, diagnostics, and patient monitoring. Leading medical device manufacturers and players operational in associated markets are actively involved in product innovation and development processes.

Based on disease area, the molecular diagnostics market is segmented into oncology, infectious disease, genetic testing, cardiac diseases, immune system disorders and others. The infectious diseases segment held the largest share of the market in 2021, however, the oncology segment is anticipated to register the highest CAGR in the market during the forecast period. The identification and differentiation of microorganisms has principally relied on microbial morphology and growth variables. A molecular diagnostic is an effective, efficient and precise tool for the detection and monitoring of infectious diseases such as HIV, HPV, and other infectious diseases.

To comprehend global Molecular Diagnostics market dynamics in the world mainly, the worldwide market is analyzed across major global regions: North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Russia and Italy), Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), South America (Brazil, Argentina), Middle East & Africa (Saudi Arabia, UAE, Egypt and South Africa)

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.