Global Molecular Diagnostics Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Molecular diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Molecular diagnostics market trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global molecular diagnostics market size reached US$ 18.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
Molecular diagnostics is a specialized field of medical testing that revolves around the detection and scrutiny of genetic materials like DNA and RNA. Its primary purpose is to diagnose, track, and predict diseases by delving deep into the analysis of genetic material. This approach allows for a thorough examination of particular genes, mutations, and variations, delivering both high sensitivity and specificity. Molecular diagnostics plays a pivotal role in identifying the gene mutations responsible for various conditions, thereby aiding in the diagnosis and management of genetic disorders. Moreover, it excels in early detection across a spectrum of health issues, ranging from genetic disorders and infectious diseases to cancer. Additionally, it empowers prenatal screening and the detection of congenital abnormalities, offering invaluable insights for making informed decisions during pregnancy.
Global Molecular Diagnostics Market Trends and Drivers:
The surging incidence of genetic disorders, combined with heightened individual awareness, stands as a prominent catalyst fueling the need for molecular tests geared towards pinpointing genetic mutations and variations. Furthermore, the increasing embrace of non-invasive prenatal testing (NIPT) for the assessment of chromosomal abnormalities without invasive procedures is bolstering market expansion. Additionally, continuous advancements in genomic sequencing and analysis technologies are facilitating the development of quicker and more cost-effective molecular diagnostic tests, thus providing further impetus to market growth. Moreover, the integration of molecular diagnostics with digital health platforms is fostering seamless data sharing, remote monitoring, and personalized health management, all of which are contributing significantly to the growth of the market.
Global Molecular Diagnostics Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, Biomerieux SA, Danaher Corporation, Diasorin Molecular LLC (DiaSorin), F. Hoffmann-La Roche AG (Roche Holding AG), Hologic Inc., Illumina Inc., Myriad Genetics Inc., Qiagen, Quidel Corporation and Thermo Fisher Scientific.
The report segmented the market on the basis of region, product, technology, application and end users.
Breakup by Product:
- Reagents and Kits
- Software and Services
Breakup by Technology:
- Polymerase Chain Reactions (PCR)
- DNA Sequencing
- Isothermal Nucleic Acid Amplification Technology (INAAT)
Breakup by Application:
- Infectious Diseases Diagnostics
- Genetic Testing
- Blood Screening
Breakup by End Users:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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