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Demand for the Molecular Diagnostics Reagent Market is projected to reach a value of US$ 20,009 million by 2034

02-19-2024 03:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Demand for the Molecular Diagnostics Reagent Market

The global molecular diagnostics reagent market (分子診断試薬市場) is projected to grow at a CAGR of 6.6% from 2024 to 2034. By 2034, the market is expected to reach a demand of US$ 20,009.6 million, up from an estimated market size of US$ 10,584.3 million in 2024.

Market Dynamics:

Molecular diagnostics has emerged as a powerful tool in the field of medicine, enabling the detection and monitoring of diseases at the molecular level. The market for molecular diagnostics reagents is driven by several factors, including the increasing prevalence of infectious diseases and cancer, growing demand for personalized medicine, and advancements in technology.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=9576

Another major driver is the rising demand for personalized medicine, which requires precise and targeted diagnostic tests. Molecular diagnostics reagents enable healthcare providers to tailor treatment plans according to the patient's genetic makeup, leading to more effective outcomes.

Technological advancements have also contributed to the growth of the market, with the development of more sensitive and specific reagents that offer faster and more accurate results. This has led to the adoption of molecular diagnostics in a wide range of applications, including oncology, infectious diseases, and genetic testing.

List of Key Companies Profiled in The Report

Becton, Dickinson and Company
Bio-Rad Laboratories Inc
Thermo Fisher Scientific Inc.
Merck KGaA
Agilent Technologies, Inc.
Qiagen N.V.
Illumina, Inc.
DiaSorin S.p.A
Hologic Inc.

Market Future Outlook:

The molecular diagnostics reagent market is expected to continue its growth trajectory in the coming years, driven by factors such as the increasing adoption of molecular diagnostics in clinical practice, the growing focus on precision medicine, and the rising demand for point-of-care testing.

The market is also likely to benefit from the ongoing research and development activities in the field of molecular diagnostics, which are aimed at developing new reagents and technologies that offer better performance and greater efficiency.

Market Insights:

The global molecular diagnostics reagent market is segmented based on product type, application, end-user, and region. By product type, the market is divided into PCR reagents, DNA sequencing reagents, microarray reagents, and others.

Want Full Report? Enquire Here- https://www.factmr.com/report/molecular-diagnostics-reagent-market

By application, the market is categorized into infectious diseases, oncology, genetic testing, and others. The infectious diseases segment is expected to dominate the market, owing to the increasing prevalence of these diseases and the high demand for rapid diagnostic tests.

Recent Developments:

In September 2021, F. Hoffmann-La Roche Ltd. announced the acquisition of TIB Molbiol (Germany) to enhance its portfolio of PCR tests with a wide range of assays for infectious diseases.

Bio-Rad Laboratories, Inc. launched the Reliance SARS-CoV-2/FluA/FluB RT-PCR Kit in July 2021, designed for in-vitro diagnosis. The kit includes assay reagents, standard, and negative molecular controls.

In March 2021, Roche announced its merger with GenMark Diagnostics, aiming to access advanced molecular diagnostics technology. This collaboration enables the screening of various infections using a single patient sample, expanding Roche's geographic reach and accelerating business growth.

Hologic, Inc. acquired Biotheranostics Inc. (United States) in January 2021 to broaden its molecular diagnostics offerings.

In December 2020, GeneIQ in Dallas shifted its focus to address the COVID-19 pandemic, leading to significant company expansion.

Abbott introduced a molecular point-of-care test in March 2020, capable of diagnosing COVID-19 in five minutes. This test, the company's second for COVID-19, received FDA emergency use authorization.

Explore More Related Studies Published by Fact.MR Research:

PCR Reagents Market (PCR試薬市場): https://www.factmr.com/report/pcr-reagents-market

In Vitro Diagnostic (IVD) Reagent Market (体外診断(IVD)試薬市場): https://www.factmr.com/report/5058/in-vitro-diagnostic-ivd-reagent-market

Cationic Reagent Market (カチオン試薬市場): https://www.factmr.com/report/cationic-reagent-market

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About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

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