Molecular Diagnostics Industry Growth | CAGR 5.9% | Market Outlook 2024-2031 - F Hoffmann-la Roche Ltd, Illumina, Inc., Abbott, BD, Bio-Rad Laboratories, Inc., Hologic, Inc

The Global Molecular Diagnostics Market reached USD 22.8 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 35.7 billion by 2031. The global molecular diagnostics market is expected to exhibit a CAGR of 5.9% during the forecast period 2024-2031.

Molecular Diagnostics Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Molecular diagnostics is a field of medical testing that analyzes biological markers in a person's genetic material (DNA/RNA), proteins, or other molecules to diagnose and monitor diseases. It is widely used in detecting infectious diseases, genetic disorders, cancer, and personalized medicine. By identifying specific molecular changes, this technique enables early diagnosis, targeted treatments, and precise disease management, improving patient outcomes and advancing healthcare innovation.

List of the Key Players in the Molecular Diagnostics Market:

F Hoffmann-la Roche Ltd, Illumina, Inc., Abbott, BD, Bio-Rad Laboratories, Inc., Hologic, Inc., Agilent Technologies Inc., Myriad Genetics, Inc., Thermo Fisher Scientific Inc. and Danaher

Industry Development:

On May 19, 2023, Hologic Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Panther Fusion Flu A/B/SARS-CoV-2/RSV assay. This molecular diagnostic test is designed to differentiate between the four most common respiratory viruses: influenza A, influenza B, respiratory syncytial virus (RSV), and SARS-CoV-2.

On April 13, 2023, Agilent Technologies Inc. announced the launch of the Agilent SureSelect Cancer CGP Assay, a comprehensive genomic profiling test designed for somatic variant analysis across various solid tumor types.

Growth Forecast Projected:

The Global Molecular Diagnostics Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Molecular Diagnostics Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Molecular Diagnostics Market:

By Product Type: Reagents, Instruments, Software & Services

By Application: Oncology, Cardiovascular Diseases, Infectious Diseases, and Others

By End-User: Research Laboratories, Hospitals, Medical Academics

By Technology: PCR, Hybridization, INAAT, and Others

Regional Analysis for Molecular Diagnostics Market:

The regional analysis of the Molecular Diagnostics Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Molecular Diagnostics market?

➠ Who are the leading manufacturers in the global Molecular Diagnostics industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Molecular Diagnostics industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Molecular Diagnostics market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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