Molecular Diagnostics Market by Application (Infectious Disease, Oncology, Genetic Testing), Product (Reagents, Instruments), by Technology (PCR, DNA Sequencing, NGS), End User (Hospital, Academic Laboratory), and by Region - Forecast to 2029

The global molecular diagnostics market size is estimated to be USD 10.52 billion in 2021 and is expected to witness a CAGR of 16.79% during the forecast period. Increase in geriatric population, introduction of technologically advanced products, and growing investments by governments and numerous organizations for R&D in molecular diagnostics. Also, the increasing demand for point-of-care facilities and growing prevalence of target diseases are the major factors driving the market. Presence of an unclear regulatory framework, the regulatory framework for approvals pose as major restrictive factors on pharmaceutical, biotechnology, and medical technology industries and high prices of molecular diagnostics tests are the major factors hindering the market growth.

By Application

On the basis of application, the market is segmented into oncology, pharmacogenomics, infectious diseases, genetic testing, and other applications. Infectious disease testing segmented is expected to dominate the molecular diagnostics market in 2021. The major reason for growth is due to the relapse of infectious diseases, including new strains of multidrug-resistant TB, H1N1, and HIV. Oncology application segment is expected to be the fastest-growing segment during the forecast period this growth rate is due to factors such as the increasing prevalence of cancer and the growth of progressive diagnostic tests such as companion diagnostics.

By Product

On the basis of product, the market is segmented into instruments, reagents, and others. The reagents segment accounts for the largest market share of the market in 2021. This segment is also predicted to register the highest CAGR during the forecast period. The availability of wide range of reagents and kits, increasing use of reagents in different therapeutic areas, increase in basic research and commercial applications, are the major factors supporting the development of the reagents and kits market.

By Technology

On the basis of technology, the market is segmented into PCR, in situ hybridization, isothermal nucleic acid amplification technology, chips and microarrays, mass spectrometry, sequencing, transcription mediated amplification (TMA), and others. PCR segment accounted for the largest share of the market in 2021. This market is projected to grow at the fastest CAGR during the forecast period. The large share of the PCR segment is credited to the growing use of PCR in proteomics and genomics emergence of advanced technologies such as qRT-PCR.

Regional Insights

North America dominated the molecular diagnostics global market in 2021 and is projected to maintain its domination during the forecast period. The reason for this market share is the growing GDP, increasing disposable income, developed healthcare infrastructure, and rising adoption of cutting-edge clinical laboratory technologies in this region. Asia Pacific segment is projected to grow at a fastest CAGR during the forecast period. Competitor Insights Some of the major companies in the molecular diagnostics market are Roche Diagnostics (U.S.), QIAGEN N.V. (Netherlands), Hologic Inc. (U.S.), Abbott Laboratories (U.S.), Grifols (Germany), Siemens Healthcare (Germany), Becton, Dickinson, and Company (U.S.), Beckman Coulter Inc. (U.S.), bioMérieux SA (France), and Danaher Corporation (U.S.). Investment in R&D, strategic collaborations & acquisitions, novel product launches are some of the major strategies adopted by the leading players operating in the industry.This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The molecular diagnostics market report is categorized into the following segments and subsegments:

Molecular Diagnostics Market, By Product (Revenue, 2021-2029, USD Billion)

• Instruments
• Reagents
• Others

Molecular Diagnostics Market Size and Forecast, by Technology (Revenue, 2021-2029, USD Billion)

• Polymerase Chain Reaction (PCR)
• In Situ Hybridization (ISH)
• Isothermal Nucleic Acid Amplification Technology (INAAT)
• Chips and Microarrays
• Mass Spectrometry
• Sequencing
• Transcription Mediated Amplification (TMA)
• Others

Molecular Diagnostics Market Size and Forecast, by Application (Revenue, 2021-2029, USD Billion)

Oncology

• Breast cancer
• Cervical cancer
• Prostate cancer
• Colorectal cancer
• Kidney cancer
• Other cancers
• Pharmacogenomics

Infectious Diseases

• Respiratory Syncytial Virus (RSV)
• Candida
• Methicillin-Resistant Staphylococcus Aureus (MRSA)
• Clostridium Difficile
• Vancomycin-Resistant Enterococci (VRE)
• Carbapenem-resistant bacteria
• Flu
• Tuberculosis (TB) and Drug-Resistant TBA
• Meningitis
• Others

Genetic Testing

• Predictive and Presymptomatic testing
• Newborn Screening
• Other Genetic Testing
• Others

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North America

• U.S.
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• Saudi Arabia
• Rest of MEA