The global molecular diagnostics market was valued at USD 9,371 million in 2020, and it is expected to reach 15,196 million by 2026, registering a CAGR of 10.2% during the forecast period.
As per the scope of the report, molecular diagnostic tests detect specific sequences in DNA or RNA (including single nucleotide polymorphisms (SNP), deletions, rearrangements, insertions, and others), which may or may not be associated with diseases. Molecular diagnostics has been revolutionized over the past few decades.
The increasing prevalence of infectious diseases and cancer, the rising funding for R&D, the increase in PoC testing devices and technological advancements is the factor that has supported long-term expansion for Molecular Diagnostics Market.
The COVID-19 pandemic has turned a spotlight on the molecular diagnostics industry across the world, with the rapid development of diagnostics, fast-tracked regulatory clearances, and ramped-up distribution in various regions to help curb the spread of the virus.
In 2020, North America accounted for the largest share of the global molecular diagnostics market. The North American molecular diagnostics market's growth can be attributed to the highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.
Insights are provided for each region and major countries within the regions
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Report Feature |
Descriptions |
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Growth Rate |
CAGR of 10.2% during the forecasting period, 2021-2028 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Report Segmentation |
technology, application, product, end user and region. |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
Abbott Laboratories, F Hoffmann-la Roche Ltd, Hologic Corporation, Danaher Corporation, and Agilent Technology. |
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Available Customization |
In addition to the market data for Molecular Diagnostics Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Molecular Diagnostics Market is segmented into technology, application, product, end user and region.
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