Global Market for Molecular Diagnostics is Projected to Touch $32 billion by 2030 Driven by Demand for Early Detection of Disease and Need for Personalized Treatment

A new report from Industry Experts, Inc. on "Molecular Diagnostics Market" is introduced. According the report, the market is poised for a robust expansion over the 2024-2030 forecast period, with a projected CAGR of 10% in value. The market is expected to reach about US$32 billion by 2030, up from an estimated US$18 billion in 2024.

The molecular diagnostics market is growing rapidly, driven by a growing need for faster and more accurate disease detection. With the increasing number of infectious diseases like HIV, tuberculosis, and respiratory infections, healthcare providers rely on molecular tests to quickly identify pathogens and guide treatment. Cancer diagnostics is another major driver, as these tests help detect genetic mutations like BRCA1/2, EGFR, and KRAS, allowing doctors to create personalized treatment plans. Progress in PCR, Next-Generation Sequencing (NGS), and DNA Microarrays made testing more accurate, inexpensive, and widely available. Governments and private organizations invest considerably in genomic and precision medicine, further supporting innovations. There is also a growing shift toward at-home and point-of-care testing, which is more accessible diagnostics.

The Reagents and Kits segment dominates the molecular diagnostics market, capturing an estimated 61.3% share in 2024, attributed to their extensive application in testing for infectious diseases, oncology, and genetic diagnostics. Their shorter replacement cycles, flexibility, and vital role in molecular testing ensure consistent demand. Innovations in assay development, increasing awareness for early disease detection, and increased healthcare integration further boost their adoption. Conversely, the Instruments segment is anticipated to record the fastest CAGR of 11.7% from 2024 to 2030, driven by the increasing demand for advanced equipment like PCR machines, NGS systems, and mass spectrometers.

The report analyzes the market for Molecular Diagnostics market, globally, covering all major regions including North America (The United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific), Rest of World (Brazil, Argentina, Israel, and Other Rest of World Countries).

This study examines the global market for Molecular Diagnostics with respect to Product Type - Reagents and Kits, Instruments and Software & Services; Technology - Polymerase Chain Reaction (PCR), DNA Sequencing & Next-Generation Sequencing (NGS), Isothermal Nucleic Acid Amplification (INAAT), In Situ Hybridization (ISH), DNA Microarrays and Other Technologies (Including Mass Spectrometry (MS), Transcription Mediated Amplification (TMA), CRISPR-based Diagnostics, and Nanotechnology); Application - Infectious Disease Diagnostics, Oncology Testing, Genetic Testing, Pharmacogenomics, Neurological Disorders Diagnostics, Cardiovascular Disease Diagnostics and Other Applications (Including Reproductive Health & Prenatal Testing, Transplant Diagnostics, Microbiome Analysis, Autoimmune Disease Diagnostics, and others); and End-User Facility - Hospitals and Clinics, Diagnostics Laboratories and Other End-Users (Including Research Institutes & Academic Institutions, Pharmaceutical & Biotechnology Companies, Contract Research Organizations (CROs), and Blood Banks).

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