Molecular Diagnostics Market is estimated to value over USD 12.6 billion by 2027 end and register a CAGR of over 8.9% during the forecast period 2020 to 2027.

The reagents subjugated the global market with respect to revenue in 2018. Rising usage of reagents in testing molecular diagnostics, high demand for diagnostic tests provided over-the-counter and increasing adoption of such tests in nonmedical applications are some of the factors bolstering the global market growth.
The central laboratories subjugated the market with respect to revenue share in 2018 due to high procedural volumes and a substantial prevalence of additional support with respect to infrastructure and manpower.
The segment that is predicted to showcase rapid growth over the forecast period is the point of care segment. Rising demands for patient care at bedside due to prospering home healthcare along with rising penetration of localised establishments of healthcare is one of the primary factors responsible for its rapid growth. Furthermore, OTC products or self-tests are gaining popularity with consistent improvements in healthcare facilities and levels of patient awareness is anticipated to assist in the segment growth.
The PCR segment subjugated the global market in 2018. PCR is a commonly used molecular diagnostics technology. Advancements and increased usage in PCR methods like multiplex PCR are some of the key factors responsible for the overall global market growth.

Sequencing is predicted to showcase substantial growth during the forecast time frame due to factors like rising portability and likely cos reduction of DNA sequencers coupled with the NGS methods, offering high output sequencing and analysis of gene data.
Moreover, In Situ Hybridization is expected to showcase significant growth over the forecast period. An increase in the population affected by cancer and the necessity for early diagnosis of cancer are some of the key factors aiding in the expansion of the overall global market size.
Increasing prevalence of cancer and the development of novel tests like companion diagnostics for diagnosing cancer are some of the important factors that are predicted to contribute to the high value of CAGR during the forecast period.

North America led the market in terms of generating revenue in 2018 and it is predicted to show the same market trend throughout the forecast period. North America is the leader of the industry due to the provisions of an established infrastructure for diagnostics, advancements in technology and rising awareness of patients.

Massive prevalence of patient population and numerous unsatisfied clinical needs are expected to steer the market in the Asia Pacific region. Increasing economic initiatives by the governments of India and China in order to enhance the healthcare infrastructure are factors that are predicted to spur market augmentation. 

Key market players are
Abbott, Becton, Dickinson and Co., Biomerieux SA, Bio-Rad Laboratories Inc., Dako, Danaher Corp., Hologic Inc., Illumina Inc., Johnson & Johnson Services, Novartis, Qiagen, Rocne Diagnostics, Siemens Healthcare Private Ltd., Sysmex Corp.

Molecular Diagnostics Market Segmentation:

By Product & Services

  • Reagents & Kits
  • Instruments
  • Software and Service

By Technology

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

By Application

  • Infectious Disease
  • Oncology
  • Genetic Tests
  • Other

By  End-User

  • Hospital and Academic Laboratories
  • Reference Laboratories
  • Other

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

Objectives of the Study:

  • To provide with an exhaustive analysis on the global market by product and services, by technology, by application, by end user and by region.
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific Latin America and Middle East & Africa
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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