Molecular Diagnostics Market Worth $ 16.58 Billion, Globally, by 2028 at 8.67 % CAGR: Verified Market Research™

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Apr 22, 2021, 10:14 ET

JERSEY CITY, N.J., April 22, 2021 /PRNewswire/ -- Rising demand for Point-of-Care testing, demand for self-testing diagnostics, & rising consumer awareness about faster diagnostics. An increase in infectious diseases is also boosting the demand for molecular diagnostics market

Verified Market Research recently published a report, "Molecular Diagnostics Market" by Application (Infectious Diseases, Oncology, Blood Screening, Genetic Tests, Microbiology, and Other Applications), by Technology (Polymerase Chain Reaction (PCR), Isothermal Nucleic Acid Amplification Technology (INAAT), Hybridization (In-Situ Hybridization & Fish), DNA Sequencing and Next-Generation Sequencing, Microarray, and Other Technologies), by Product & Services (Reagents & Kits, Instruments, and Software & Services), and by Geography. According to Verified Market Research, the Global Molecular Diagnostics Market was valued at USD 8.53 Billion in 2020 and is projected to reach USD 16.58 Billion by 2028, growing at a CAGR of 8.67% from 2021 to 2028.

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Browse in-depth TOC on "Molecular Diagnostics Market"

202 - Pages
126 – Tables
37 – Figures

Global Molecular Diagnostics Market Overview

Rapid technological advancements leading to accurate results, portability, and cost-effectiveness are expected to be a high-impact rendering driver of the market for molecular diagnostics. Companies are upgrading their products by implementing new techniques to gain specific and accurate results. Sigma Aldrich Corporation and QIAGEN are developing new technologies, such as Transcription-Mediated Amplification (TMA) and Loop-Mediated Isothermal Amplification (LAMP), for the diagnosis of tumors.

In addition, the growing incidence of infectious diseases is expected to propel the market growth over the forecast period. According to WHO estimates, 38.0 million individuals across the globe were living with HIV infection in 2019. Moreover, rising initiatives by market players to improve access to cost-effective resources are anticipated to drive the market for molecular diagnostics. For instance, in July 2019, F. Hoffmann-La Roche Ltd expanded its Global Access Program beyond HIV and included HPV and other infectious diseases to enhance access to early detection and diagnostics for low and middle-income countries.

The major players in the market are Abbott Laboratories, Qiagen N.V., Roche Diagnostics, Hologic, Inc., Grifols, Siemens Healthcare, Becton, Dickinson and Company, Beckman Coulter Inc. (A Wholly Owned Subsidiary of Danaher Corporation), BiomÃ©rieux Sa, and Cepheid Inc.

Verified Market Research has segmented the Global Molecular Diagnostics Market On the basis of Application, Technology, Product & Services, and Geography.

Molecular Diagnostics Market by Application

Infectious Diseases
Oncology
Blood Screening
Genetic Tests
Microbiology
Other Applications

Molecular Diagnostics Market by Technology

Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology (INAAT)
Hybridization (In-Situ Hybridization & Fish)
DNA Sequencing and Next-Generation Sequencing
Microarray
Other Technologies

Molecular Diagnostics Market by Product & Services

Reagents & Kits
Instruments
Software & Services

Molecular Diagnostics Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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