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Increasing prevalence of infectious diseases and rising usage of POC diagnostic tests are key factors driving market revenue growth

VANCOUER, BC, CANADA, January 17, 2023 /EINPresswire.com/ -- Emergen Research’s latest document, titled ‘Global Molecular Diagnostics Market - Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Molecular Diagnostics market. The report’s authors have offered necessary details on the latest Molecular Diagnostics market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Molecular Diagnostics industry entails useful insights into the estimated Molecular Diagnostics market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcome in the near future. Those are further intended to assist businesses involved in this sector in sound decision-making and formulating lucrative business plans. The primary addressees of this report include some of the globally renowned venture capitalists. The report offers these individuals a vivid description of the competitive spectrum of the global Molecular Diagnostics market.

The global molecular diagnostics market size was USD 19.86 Billion in 2021 and is expected to register a revenue CAGR of 12.4% during the forecast period, according to the latest analysis by Emergen Research. Rise in prevalence of infectious diseases and increased use of point-of-care diagnostic tests are some of the key factors driving market revenue growth. Point-of-Care (PoC) diagnostic testing technologies offer various benefits over traditional diagnostic procedures including better prices, improved efficiency, and potential to provide quick data for decision-making. In addition, increasing use of Point-of-Care (POC) diagnostics testing equipment is being driven by need to make healthcare more patient-centered by organizing medical services around the patient rather than practitioner. Several patients find testing inconvenient as testing process is usually separate from consultation.

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The pandemic has disrupted the supply chain and raw material supplies. The increasing need for screening a large number of patients for COVID-19 has caused an immense demand for the diagnostic kits. The manufacturers are facing a severe shortage in the supply of diagnostic kits. As there are chances of producing faulty test kits, manufacturers are under immense pressure to produce accurate and reliable testing kits.

Our report contains current and latest market trends, market shares of companies, market forecasts, competition benchmarking, competition mapping and an in-depth analysis of the most important sustainability tactics and their impact on market growth and competition. To estimate quantitative aspects and segment the global Molecular Diagnostics Market , we used a recommended combination of top-down and bottom-up approaches.

Key players in the market include

Becton, Dickinson and Company, Abbott Laboratories, Agilent Technologies, Danaher Corporation, bioMérieux SA, Hologic, Inc., Illumina, Inc., Roche Diagnostics, Siemens Healthcare Private Limited, and Diasorin, among others.

Some Key Highlights from the Report :

The reagents segment dominated the market with a share of 57.1% in 2019, owing to its easy availability and cost-effectiveness.

The DNA Sequencing and NGS segment are expected to register the highest CAGR owing to its increasing application in genomics research.

Oncology is expected to register the highest CAGR over the forecast period due to the increasing number of cancer cases worldwide.

North America has the highest adoption rate in the market due to the increasing investments by the key manufacturers to produce technologically advanced molecular diagnostics.

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The research scrutinizes new growth opportunities, carried out with an in-depth analysis of the global Molecular Diagnostics Market on the basis of development, and data analysis accounting for every aspect of the Molecular Diagnostics Market . Moreover, the report delivers information on regions, types, key drivers, trends, challenges, applications, annual growth rates, forecasts, and market size (quantity and value), and market segment by region.

Segmented the global Molecular Diagnostics Market :

Emergen Research has segmented the global Molecular Diagnostics Market on the basis of Product, Technology, Application, End-User, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)
Reagents
Instruments
Others

Technology Outlook (Revenue, USD Billion; 2017-2027)
DNA Sequencing and NGS
Polymerase Chain Reaction (PCR)
In Situ Hybridization
DNA Microarrays

Isothermal Nucleic Acid Amplification Technology (INAAT)
Other technologies

Application Outlook (Revenue, USD Billion; 2017-2027)
Oncology
Infectious Diseases
Genetic Testing
Others

End-User Outlook (Revenue, USD Billion; 2017-2027)
Central Laboratories
Hospitals
Others

As part of our quantitative analysis, we have provided regional market forecasts by type and application, market sales forecasts and estimates by type, application and region by 2027, and global sales and production forecasts and estimates for Bioelectric Medicine by 2027. For the qualitative analysis, we focused on political and regulatory scenarios, component benchmarking, technology landscape, important market topics as well as industry landscape and trends.

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Why should you buy this Molecular Diagnostics Market report?

The study paper dissects the total market potential of major regions with strengths, opportunity and challenge, constraints, and dangers.
By identifying the high-improvement locations, the study inspects the open entryways, keeping an eye out for accomplices.
It examines each submarket in terms of a single improvement design and its contribution to the market.
It examines the recent developments, such as advancements, business strategies, new product releases, and acquisitions.
It purposefully profiles the major market players and thoroughly investigates their advancement strategies.

About Us:

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Emergen Research
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