Molecular Diagnostics Industry Overview The global molecular diagnostics market size is expected to reach USD 31.9 billion by 2030, and is expected to decline at a CAGR of -1.6% from 2022 to 2030, according to a recent study by Grand View Research, Inc. The contraction in the market will be due to the decline in demand for molecular testing for COVID-19. However, factors such as the rising geriatric population and increasing demand for technologies such as NGS is expected to drive market growth. Molecular diagnostics plays an important role in infectious disease testing as they can yield effective and fast results. Hence, the increasing prevalence of hospital-acquired infections & infectious diseases is projected to drive the market over the forecast period. Increasing incidence and awareness regarding genetic disorders is further anticipated to accelerate market growth. The miniaturization of three basic molecular assays-nanobiotechnology, biochips, and microfluidics are expected to increase the accuracy and specificity of diagnostic outcomes, and hence, increase the demand for molecular diagnostic products. These improvements are expected to enhance the availability of PoC molecular diagnostic tests to yield quick and effective test results. Molecular Diagnostics Market Segmentation For this report, Grand View Research has segmented the global molecular diagnostics market based on product, test location, technology, application, and region: Based on the Product Insights, the market is segmented into Instruments, Reagents, Others.
Based on the Test Location Insights, the market is segmented into Point-of-Care, Self-test or Over the Counter, Central Laboratories.
Based on the Application Insights, the market is segmented into Oncology, Pharmacogenomics, Infectious Diseases, Genetic Testing, Neurological Disease, Cardiovascular Disease, Microbiology, Others.
Based on the Technology Insights, the market is segmented into Polymerase chain reaction (PCR), In Situ Hybridization (ISH), Isothermal Nucleic Acid Amplification Technology (INAAT), Chips and Microarrays, Mass Spectrometry, Sequencing, Transcription Mediated Amplification (TMA), Others.
Molecular Diagnostics Regional Outlook
Key Companies Profile & Market Share Insights Players such as Roche are using mergers and acquisitions strategy to enhance product capabilities and promote their product offerings. For instance, in May 2021, Roche acquired GenMark Diagnostics for USD 1.8 billion. This acquisition will help Roche expand its molecular diagnostics portfolio. Some prominent players in the global molecular diagnostics market include
Order a free sample PDF of the Molecular Diagnostics Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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