Molecular Diagnostics Market Worth $ 16.58 Billion, Globally, by 2028 at 8.67 % CAGR: Verified Market Research™
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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), Biomérieux Sa, and Cepheid Inc.
Verified Market Research has segmented the Global Molecular Diagnostics Market On the basis of Application, Technology, Product & Services, and Geography.
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