Selbyville, Delaware, Feb. 16, 2022 (GLOBE NEWSWIRE) --
The molecular diagnostics market value projected to surpass USD 29.5 billion by 2028, according to a new research report by Global Market Insights Inc. Rising prevalence of infectious diseases will boost the industry demand.
Technological advancements for diagnosis are one of the major factors that will spur business landscape. This is because the advanced diagnostic products will be cost-effective, accurate, and portable. This has facilitated the detection of various diseases. Many participants operating in this sector are involved in the development of molecular diagnostic products to provide the best diagnosis and treatment outcomes. Also, industry players increasing their market presence through technological advancements and product innovations by introducing advanced devices at lower prices.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/434
The reagents and kits segment exceeded USD 38.2 billion in 2021 due to increasing adoption of reagents and kits in research and clinical settings. Unlike instruments, reagents and kits are purchased frequently in bulk quantity that propels the segmental growth. Standard reagents and kits help in achieving efficient and accurate results. Standardized results, cost-effectiveness and improved efficiency are anticipated to support the industry outlook.
Some major findings of the molecular diagnostics market report include:
- Technological advancements and improvements in different diagnostic products to deal with the diagnosis of various health aliments will propel the market progression.
- Rising prevalence of different chronic conditions and surging elderly population base throughout the globe are some of the factors driving the industry landscape.
- The government in developing countries construct laws and regulations that are favorable for the industry players to initiate their production facilities.
Browse key industry insights spread across 220 pages with 333 market data tables & 15 figures & charts from the report, “Molecular Diagnostics Market Statistics By Product (Instruments, Reagents & Kits), Technology (Polymerase Chain Reaction [PCR], Hybridization, Sequencing, Isothermal Nucleic Acid Amplification Technology [INAAT], Microarrays), Application (Infectious Disease Diagnostics {COVID-19, HIV, CT/NG, Hepatitis B, Hepatitis C, RSV, Flu, Tuberculosis}, Oncology Testing, Genetic Disease Testing), End-use (Diagnostics Laboratories, Hospitals & Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/molecular-diagnostics-market-report
The molecular diagnostics market from isothermal nucleic acid amplification technology (INAAT) segment is expected to exhibit 8.9% CAGR during the analysis timeframe owing to rising adoption of INAAT for the detection of hepatitis A & B, HIV, and other sexually transmitted diseases and increasing awareness about the need for rapid testing for infectious diseases.
The molecular diagnostics industry from genetic disease testing segment accounted for over USD 1.8 billion in 2021. The genetic testing practices are rapidly increasing in rare disease diagnostics coupled with availability of efficient and highly sensitive methods for genetic testing will drive the industry scenario. Rising prevalence of genetic disorders due to changing lifestyle will further fuel the business landscape.
The molecular diagnostics market from hospital and clinics segment accounted for around 46% revenue share in 2021, owing to the increasing number of tests due to the rise in prevalence of infectious diseases. Moreover, increasing collaboration between hospitals and research institute for molecular diagnostics process improvement will further drive the market expansion.
Asia Pacific market was valued at over USD 15 billion in 2021 led by increasing incidence of cancer cases and rising demand for faster diagnosis of cancer will spur the industry landscape. Moreover, surging approval of personalized medicines by the Food and Drug Administration (FDA) is attracting the attention of health professionals and pharmaceutical businesses.
Request for customization of this research report @ https://www.gminsights.com/roc/434
Some of the prominent business players operating in the molecular diagnostics industry include Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson, and Company, Biocartis, Biomerieux SA, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Hologic, Inc., Illumina, Inc., Qiagen, Quidel Corporation, Siemens Healthineers AG, Sysmex Corporation, and Thermo Fisher Scientific among others.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
