Molecular Diagnostics Market to be worth US$ 37.19 Billion by 2028, TMR Study

Transparency Market Research's most recent report examines the global market spanning the historical period of 2017-2019 and forecasting from 2021 to 2028. The report highlights several key factors poised to propel the global molecular diagnostics industry forward during the forecast period. These include a growing geriatric population, an escalating demand for personalized healthcare services, and a notable surge in awareness surrounding molecular diagnostics.

The global 𝐦𝐨𝐥𝐞𝐜𝐮𝐥𝐚𝐫 𝐝𝐢𝐚𝐠𝐧𝐨𝐬𝐭𝐢𝐜𝐬 𝐦𝐚𝐫𝐤𝐞𝐭, valued at US$ 14.99 million in 2020, is projected to grow at a CAGR of 11.1% from 2021 to 2028, reaching US$ 37.19 billion by 2028. Despite the COVID-19 pandemic causing postponement of elective procedures, healthcare facilities are prioritizing services such as blood screening and infectious disease detection.

However, delayed disease diagnosis often leads to increased treatment costs. To address this, companies in the molecular diagnostics sector are urged to enhance R&D efforts for early disease detection and promote awareness about the benefits of early diagnosis. Notably, Germany's robust growth in molecular diagnostics is attributed to government investments in healthcare, support for the biotechnology sector, and a growing number of biotechnology companies in the country.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1783&utm_source=OpenPR&utm_campaign=MansiR_OpenPR

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐌𝐨𝐥𝐞𝐜𝐮𝐥𝐚𝐫 𝐃𝐢𝐚𝐠𝐧𝐨𝐬𝐭𝐢𝐜 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭

In the European molecular diagnostics market, companies are strategically targeting various sectors such as hospitals, diagnostic laboratories, academic and research institutes, and pharmaceutical and biotechnology companies to bolster their business expansion efforts. Among these, pharmaceutical and biotechnology companies are expected to emerge as the swiftest-growing segment, fueled by their escalating investments in research endeavors, thereby catalyzing the uptake of molecular diagnostic devices. Following closely behind, academic and research institutes are poised for substantial growth, buoyed by escalating levels of public and private funding directed towards research initiatives. Notably, European funding bodies are actively endorsing innovative enterprises engaged in the development of novel products, with annual PCR conferences serving as platforms for identifying potential pioneers in PCR technology.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬:

Abbot Laboratories,Becton,Dickinson and Company,Bio-Rad Laboratories, Inc.,bioMérieux SA,Danaher Corporation,F. Hoffmann-La Roche Ltd.,QIAGEN N.V.,Siemens AG,Thermo Fisher Scientific, Inc., among others

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

By Technology

PCR & Real time PCR
Hybridization
Microarray
Transcription-mediated Amplification
Next Generation Sequencing
Others

Application

Infectious Diseases
Oncology
Blood Screening
Microbiology
Genetic Testing
Women's Health

End-user

Hospitals
Diagnostic Laboratories
Blood Banks
Academics & Research
Others

𝐀 𝐫𝐢𝐬𝐞 𝐢𝐧 𝐏𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐜𝐞 𝐨𝐟 𝐈𝐧𝐟𝐞𝐜𝐭𝐢𝐨𝐮𝐬 𝐃𝐢𝐬𝐞𝐚𝐬𝐞𝐬 𝐚𝐧𝐝 𝐂𝐚𝐧𝐜𝐞𝐫: 𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫

The World Health Organization (WHO) reports that cancer is responsible for 8.3 million deaths worldwide annually, and predicts that 70% of new cancer cases will emerge over the next two decades. Given that each cancer type necessitates tailored treatment approaches, the escalating incidence of cancer and the growing demand for personalized medicine are anticipated to fuel the adoption of molecular diagnostics in the foreseeable future. This trend is poised to present substantial opportunities for market players, particularly considering the nascent stage of the molecular diagnostics market.

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In December 2021, Becton, Dickinson, and Company (BD) announced the expansion of its BD COR system to include MX instruments for high-throughput molecular testing of infectious diseases

In March 2021, Roche announced an agreement to acquire GenMark Diagnostics. This acquisition has been carried out so that GenMark can provide molecular diagnostic tests, which are designed for the detection of various pathogens with a single patient sample.

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐆𝐞𝐭 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐈𝐧𝐬𝐭𝐚𝐧𝐭𝐥𝐲:
https://www.transparencymarketresearch.com/checkout.php?rep_id=1783<ype=S&utm_source=OpenPR&utm_campaign=MansiR_OpenPR

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The future of the molecular diagnostics market appears promising, with ongoing research and development activities poised to unveil innovative diagnostic technologies and solutions. Moreover, the advent of precision medicine and the customization of treatment approaches based on individual genetic profiles are expected to further drive market growth in the coming years.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Technological advancements and their impact on diagnostic accuracy and efficiency
Market penetration across different industry verticals and regions
Regulatory landscape and its influence on market dynamics
Competitive strategies adopted by key market players
Emerging opportunities and challenges in the molecular diagnostics space

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐂𝐞𝐫𝐚𝐦𝐢𝐜 𝐓𝐚𝐛𝐥𝐞𝐰𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/11/17/2558080/0/en/Ceramic-Tableware-Market-Estimated-to-Reach-Value-of-US-22-2-Billion-by-2031-TMR-Study.html

𝐄𝐜𝐨-𝐅𝐫𝐢𝐞𝐧𝐝𝐥𝐲 𝐋𝐚𝐛𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/11/17/2558204/0/en/Eco-Friendly-Labels-Market-to-Grow-at-7-9-from-2021-to-2029-TMR-Study.html

 

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

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This release was published on openPR.