Molecular Diagnostics Devices And Equipment Market: Strong Growth Expected with an 8.1% CAGR Forecast To 2025

Molecular Diagnostics Devices And Equipment: A key driver in healthcare equipment sector due to rising health expenditure and rapid technological advances.

What Is The Projected Market Size Of The Global Molecular Diagnostics Devices And Equipment Market And Its Growth Rate?

The Molecular Diagnostics Devices And Equipment market has seen robust growth:
• The market size in 2024: $17.58 billion
• Projected market size in 2025: $19.01 billion with a CAGR of 8.1%
• Predicted market size in 2029: $24.77 billion with a CAGR of 6.8%

The explosive growth is primarily due to increased healthcare expenditure, rapid technological advances, novel pathogenic infestations, and significant growth in geriatric population.

What Is Driving The Growth In The Molecular Diagnostics Devices And Equipment Market?

Rising incidence of infectious diseases is expected to propel the growth of the molecular diagnostic devices and equipment market. Infectious diseases, caused by pathogenic microorganisms, can be transmitted from one individual to another or from animals to humans. Factors such as antimicrobial resistance, travel, urbanization, socioeconomic disparities, and an aging population contribute to the rise in incidence of infectious diseases. For instance, according to the Office for National Statistics, the UK recorded 619 deaths related to COVID-19 in the week ending 17 March 2023, an increase from the previous week. As such, the rising incidence of infectious diseases is driving the growth of the molecular diagnostic devices and equipment market.

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Who Are the Key Players Driving Molecular Diagnostics Devices And Equipment Market Growth?
• F. Hoffmann-La Roche Ltd
• QIAGEN N.V.
• Abbott Laboratories
• Danaher Corporation
• Biomérieux
• Becton Dickinson & Co
• Siemens Healthineers AG
• Grifols S.A.
• Sysmex Corporation
• Abbott India Limited
• Qiagen India Pvt Ltd
• Biocartis
• Bio-Techne India Private Limited
• Other key players include Cleaver Scientific, Zhejiang Di'an Diagnostics Technology Co. Ltd, ADICON Clinical Laboratories and more.

What Are The Key Trends In The Molecular Diagnostics Devices And Equipment Market?
Key trends in the forecast period include:
• Automation in the field of molecular diagnostics,
• Use of artificial intelligence
• Increased demand for molecular diagnostic devices in studying rare diseases
• Growing adoption of big data
• Next generation sequencing for newborn screening
• Point-of-care molecular diagnostics

What Are The Segments Of The Global Molecular Diagnostics Devices And Equipment Market?
The market is segmented by:
1) Product: Instruments, Reagents And Consumables, Software
2) Technology: DNA(Deoxyribonucleic acid) sequencing, Polymerase chain reaction and others
3) Application: Cancer, Pharmacogenomics, Genetic testing and others
4) End User: Diagnostic laboratories, Hospitals, and Other End Users

Which Region Leads The Molecular Diagnostics Devices And Equipment Market?
Asia-Pacific held the largest share of the molecular diagnostics devices and equipment market in 2024, followed by Western Europe. The growth in these regions can be attributed to increased healthcare expenditure and advanced healthcare infrastructure.

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What Is Covered In The Molecular Diagnostics Devices And Equipment Market Global Market Report?
- Market Size Analysis: Analyze the Molecular Diagnostics Devices And Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Molecular Diagnostics Devices And Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Molecular Diagnostics Devices And Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Molecular Diagnostics Devices And Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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