Molecular Diagnostics Market Size, Share, and Trends Analysis 2032

Molecular Diagnostics Market: Industry Perspective

The global molecular diagnostics market size was worth around USD 16.27 billion in 2023 and is predicted to grow to around USD 44.03 billion by 2032 with a compound annual growth rate (CAGR) of roughly 11.7% between 2024 and 2032.

The report analyzes the global molecular diagnostics market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the molecular diagnostics industry.

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Molecular Diagnostics Market: Overview

Molecular diagnostics includes the molecular biology techniques that are used for the detection of biomarkers present in genomes or proteomes. Molecular diagnostic consist of a family of techniques like PCR, DNA or gene microarray, INAAT, NGS, etc. Molecular diagnostics is the result of the fruitful interplay between genomics knowledge, laboratory medicine, and technology in the field of molecular genetics.

According to the WHO, cancer is the second leading mortality cause worldwide. The growing cancer prevalence worldwide is fueling the research activities for cancer treatment. As per the National Cancer Institute, in 2023, about 1,700,000 new cancer cases were diagnosed in the U.S. According to the Centers for Disease Control and Prevention, about 9,272 new cases of tuberculosis were registered in the U.S. in 2016. This growing incidence of infectious diseases and cancer is increasing the demand for molecular diagnostics techniques. The rapid advancements witnessed in the molecular biology technologies, development of molecular diagnostic technologies to automated processes, growing awareness about molecular diagnostics usage for the detection of different diseases in developing countries, and increasing government funding for research in molecular biology are driving the global molecular diagnostics market. However, the high cost of technologies and the lack of a skilled workforce to handle the instruments are hindering the global molecular diagnostics market growth.

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Molecular Diagnostics Market: Segmentation

The molecular diagnostics market is fragmented into product and services, application, technology, and end-user.

Based on product and services, the molecular diagnostics market includes instruments, reagents and kits, and software and services. The application segment of the molecular diagnostics market includes genetic tests, infectious diseases (HIV, hepatitis, HPV, CT/NG, influenza, TB, and others), oncology (life breast cancer, lung cancer, colorectal cancer, prostate cancer, and other cancers), and others. The oncology segment is projected to show the highest growth rate in the molecular diagnostics market in the years ahead.

Based on technology, the market is fragmented into DNA microarrays, DNA sequencing and NGS, polymerase chain reaction, in situ hybridization, isothermal nucleic acid amplification technology, and others.

The end-user segment comprises diagnostic laboratories, hospitals, and others.

Molecular Diagnostics Market: Report Scope

Molecular Diagnostics Market: Regional Analysis

By region, North America dominated the market in 2023, owing to the early introduction of highly developed equipment for research activities, the presence of highly skilled workforce, and an increase in the number of projects for the development of new molecular diagnostic technologies. The Asia Pacific molecular diagnostics market is anticipated to show the highest year-to-year growth in the upcoming years, due to the rising investments by government and leading companies for R&D, high prevalence of infectious diseases in the developing countries of China and India, and growing awareness about molecular diagnostics usage for different disease detection.

Molecular Diagnostics Market: Competitive Analysis

Some of the major players in the global molecular diagnostics market include:

• Becton, Dickinson and Company
• Abbott Laboratories
• Roche Diagnostics
• Novartis
• Johnson and Johnson
• bioMerieux
• Bio-Rad Laboratories
• Qiagen NV
• Siemens Healthcare
• Danaher Corporation
• Hologic

The global molecular diagnostics market is segmented as follows;

Global Molecular Diagnostics Market: Product and Services Analysis

• Reagents and Kits
• Instruments
• Software and Services

Global Molecular Diagnostics Market: Application Analysis

• Genetic Tests
• Infectious Diseases
  • Hepatitis
  • HIV
  • CT/NG
  • HPV
  • TB
  • Influenza
  • Others
• Oncology
  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Prostate Cancer
  • Other Cancers
• Others

Global Molecular Diagnostics Market: Technology Analysis

• Polymerase Chain Reaction (PCR)
• Isothermal Nucleic Acid Amplification Technology (INAAT)
• DNA Sequencing and Next Generation Sequencing (NGS)
• In Situ Hybridization
• DNA Microarrays
• Others

Global Molecular Diagnostics Market: End-User Analysis

• Diagnostic Laboratories
• Hospitals
• Others

Global Molecular Diagnostics Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa