According to the latest report by IMARC Group, “Global Molecular Diagnostics Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global molecular diagnostics market size reached US$ 17.22 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 27.19 Billion by 2027, exhibiting a CAGR of 7.70% during 2022-2027.
Molecular diagnostics is a laboratory testing process that involves sequencing an individual’s DNA, RNA, or cell proteins to analyze biomarkers of potential diseases. Its main objective is to diagnose and monitor infections and illnesses, detect risks, and assess therapy responses. It has become an indispensable component of patient-tailored interventions and therapeutics. At present, molecular diagnostics finds extensive applications in areas such as oncology, pharmacogenomics, microbiology, infectious diseases, genetic disease screening, and blood screening across the globe.
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Molecular Diagnostics Market Trends:
The global molecular diagnostics market is primarily driven by rising product utilization in hospitals, laboratories, and research institutes to detect diseases, coagulation, and human leukocyte antigen typing. Moreover, the increasing prevalence of chronic conditions, including cancer, cardiovascular diseases (CVDs), neurological disorders, and infectious diseases, is positively influencing the market growth. Additionally, the rising geriatric population that is more susceptible to medical ailments and the surging adoption of point-of-care (POC) testing devices have augmented the product demand.
Furthermore, several favorable initiatives taken by governments of numerous countries, such as the fast approval of diagnostic products to curb the spread of the recent coronavirus disease (COVID-19), are contributing to market growth. Other factors, including rising demand for personalized treatment, the emerging trend of preventive medicine, improving healthcare infrastructure, and ongoing technological advancements, are also anticipated to propel the market growth.
Global Casino Management Systems Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
- Abbott Laboratories
- Agilent Technologies Inc.
- Becton Dickinson and Company
- F. Hoffmann-La Roche AG (Roche Holding AG)
- Hologic Inc.
- Illumina Inc.
- Myriad Genetics Inc.
- Biomerieux SA
- Danaher Corporation
- Diasorin Molecular LLC (DiaSorin)
- Qiagen
- Quidel Corporation
- Thermo Fisher Scientific.
The report has segmented the market on the basis of product, technology, application, end users and region.
Breakup by Product:
- Reagents and Kits
- Instruments
- Software and Services
Breakup by Technology:
- Polymerase Chain Reactions (PCR)
- Hybridization
- DNA Sequencing
- Microarray
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Others
Breakup by Application:
- Infectious Diseases Diagnostics
- Oncology
- Genetic Testing
- Blood Screening
- Others
Breakup by End Users:
- Hospitals
- Laboratories
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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