Molecular Diagnostics Market to be Worth $31.9 Billion by 2030: Grand View Research, Inc.

Key Industry Insights & Findings from the report: Key Industry Insights & Findings from the report: Read 270-page market research report, " Molecular Diagnostics Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents), By Test Location, By Technology (PCR, Sequencing, INAAT, TMA), By Application, By Region, And Segment Forecasts, 2023 - 2030 ", published by Grand View Research. Molecular Diagnostics Market Growth & Trends Molecular diagnostics...

Key Industry Insights & Findings from the report:

Read 270-page market research report, "Molecular Diagnostics Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents), By Test Location, By Technology (PCR, Sequencing, INAAT, TMA), By Application, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Molecular Diagnostics Market Growth & Trends

Molecular diagnostics plays an important role in infectious disease testing as they can yield effective and fast results. Hence, the increasing prevalence of hospital-acquired infections & infectious diseases is projected to drive the market over the forecast period. Increasing incidence and awareness regarding genetic disorders is further anticipated to accelerate market growth. The miniaturization of three basic molecular assays-nanobiotechnology, biochips, and microfluidics are expected to increase the accuracy and specificity of diagnostic outcomes, and hence, increase the demand for molecular diagnostic products. These improvements are expected to enhance the availability of PoC molecular diagnostic tests to yield quick and effective test results.

Companies are expanding their product portfolios with the acquisition of smaller companies. For instance, in March 2021, Hologic announced the acquisition of Diagenode-a molecular diagnostic company with a wide range of PCR instruments, facilitating the detection of over 30 bacteria-for USD 159 million. Similarly, in April 2021, F. Hoffmann-La Roche Ltd. acquired GenMark Diagnostics, Inc. at a price of USD 24.05 per share in cash, and it holds around 82.89% of total shares of GenMark Diagnostics. GenMark Diagnostics, Inc. has proprietary technologies, such as eSensor XT-8 and ePlex, which can be utilized in developing tests for infectious diseases, including bloodstream infections.

Key players are enhancing their range of testing options for real-time PCR instruments by increasing R&D activities for the development of kits that target emerging diseases or by entering into agreements with other kit manufacturing companies. These include the introduction of Cobas HPV test assay in Cobas 4800 by Roche Diagnostics. The introduction of tuberculosis testing Xpert assay on GeneXpert platform by Cepheid is an example of such advancement. Such advances are anticipated to drive the global molecular diagnostics market.

Molecular Diagnostics Market Report Scope

Molecular Diagnostics Market Segmentation

For this report, Grand View Research has segmented the global molecular diagnostics market based on product, test location, technology, application, and region

Product Outlook (Revenue, USD Million, 2018 - 2030)

Test Location Outlook (Revenue, USD Million, 2018 - 2030)

Technology Outlook (Revenue, USD Million, 2018 - 2030)

Application Outlook (Revenue, USD Million, 2018 - 2030)

Regional Outlook (Revenue, USD Million, 2018 - 2030) 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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