SHERIDAN, WYOMING, UNITED STATES, August 5, 2022 /EINPresswire.com/ -- The latest research study “Molecular Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that 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.

Covid-19 Impact:

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Industry Definition and Application:

Molecular diagnostics refer to a set of laboratory tests that sequence the deoxyribonucleic acid (DNA), ribonucleic acid (RNA), or cell proteins of an individual to analyze biomarkers of potential diseases. They assist in diagnosing and monitoring infections, detecting risks, assessing therapy response, etc. Presently, molecular diagnostics are gaining extensive traction in pharmacogenomics, microbiology, genetic disease screening, oncology, blood screening, etc. In addition to this, they have become an essential aspect of patient-tailored interventions and therapeutics. As a result, molecular diagnostics are extensively utilized by hospitals, laboratories, and research institutes for the early detection of diseases, coagulation, human leukocyte antigen typing, etc.

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Global Molecular Diagnostics Market Trends and Drivers:

The rising prevalence of chronic conditions, including neurological disorders, cancer, cardiovascular diseases (CVDs), etc., is primarily driving the molecular diagnostics market. Additionally, the widespread adoption of point-of-care (POC) testing devices is further catalyzing the market growth. Besides this, the launch of several favorable policies, including fast approvals of diagnostic products by government bodies across numerous countries, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor. Moreover, the increasing investments in R&D activities to develop innovative devices that offer enhanced accuracy, flexibility, cost-effectiveness, faster results, etc., are also positively influencing the global market. Apart from this, the escalating demand for personalized treatment, improving healthcare infrastructures, and numerous technological advancements are anticipated to fuel the global molecular diagnostics market over the forecasted period.

Global Molecular Diagnostics Market 2022-2027 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.

Some of these key players include:

• 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
• Thermo Fisher Scientific

Key Market Segmentation:

The report has segmented the market on the basis of region, product, technology, application and end users.

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: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• 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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About Us:

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.

Elena Anderson
IMARC Services Private Limited
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