Molecular Diagnostics Market: By Technology (Polymerase chain reaction, Microarray, Next-generation sequencing, Isothermal nucleic acid amplification, Hybridization, Others), By Application (Caner, Blood screening, Infectious diseases, Microbiology, Genetic tests, Others), By End User (Hospitals, Diagnostic Centres, Research institutes, Others), and Geography  

Molecular Diagnostics Market size was valued at USD 9,682.4 million in 2022, and growing at a CAGR of 10.1% from 2023 to 2029. The global market provides a detailed overview that can be segmented by technology, by application, and by end user. By technology, the global molecular diagnostics market has been segmented into Polymerase chain reaction, Microarray, Next-generation sequencing, Isothermal nucleic acid amplification, Hybridization, and Others. The Polymerase chain reaction segment is likely to be the largest and fastest-growing segment in terms of type in 2021 and is expected to maintain the trend in the forecasted years.  This is attributed to the detection of infectious diseases such as COVID-19 and others. The growing prevalence of infectious diseases is boosting the global market growth at a significant rate. The high demand for high throughput PCR tests to detect infectious diseases is increasing the popularity of PCR kits and reagents in the global market. Next-generation sequencing is also a very popular technology in the molecular diagnostic market which will further drive the global market growth at a significant rate. Based on application, the global molecular diagnostics market is segmented into Cancer, Blood screening, Infectious diseases, Microbiology, Genetic tests, and Others. Among these, the Infectious diseases segment is expected to have the fastest-growing market during the forecast period. according to Precision Business Insights. This is due to the increasing prevalence of infectious diseases across the world. Based on end users, the global molecular diagnostics market is segmented into Hospitals, Diagnostic Centres, Research institutes, and Others. The Diagnostic Centres segment accounts for the largest share in 2021 and is anticipated to register a significant CAGR in the upcoming years.  

Molecular Diagnostics Market Key Development:

• In Oct 2022, Roche launched its next-generation portfolio of SARS-CoV-2 rapid antigen tests under the CE Mark for self-test and professional use.
• In Sept 2022, Eurofins Genoma announced their launch of niPGT-A, a non-invasive, embryo biopsy-free, preimplantation genetic aneuploidy screening test.