Molecular Diagnostics Devices And Equipment Market Size and Forecast 2024-2033|F. Hoffmann-La Roche Ltd., QIAGEN N.V., Hologic, Abbott Laboratories, Danaher Corporation

The Molecular Diagnostics Devices And Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Molecular Diagnostics Devices And Equipment, The molecular diagnostics devices and equipment market size has grown rapidly in recent years. It will grow from $31.26 billion in 2023 to $34.73 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rise in funding, increase in healthcare expenditure, economic growth in emerging markets, rapid technological advances, emergence of novel pathogenic infestations, and rapid growth in geriatric population.

The molecular diagnostics devices and equipment market size is expected to see strong growth in the next few years. It will grow to $48.38 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rapid rise in various bacterial and viral epidemics, aging population, increase in healthcare access, rising prevalence of chronic diseases and increasing demand for molecular diagnostic devices and equipment due to covid-19 . Major trends in the forecast period include automation in the field of molecular diagnostics, use of artificial intelligence, increased demand for molecular diagnostic devices in studying rare diseases, growing adoption of big data, next generation sequencing for newborn screening, and point-of-care molecular diagnostics (poc mdx).

The growth in the molecular diagnostic devices and equipment market is attributed to factors such as the rapid rise in various bacterial and viral epidemics. The increase in the spread of diseases increases the demand for early and improved diagnostic methods. To improve the technology to enable the early diagnosis of such diseases, the Government and different organizations extend their financial support towards the major key players of the industry. For example, according to the reports from Centres for Disease Control and Prevention (CDC) US in October 2021, melioidosis was declared as a multistate epidemic. Thus, the rise of such chronic diseases serves as a prime driver for the players in the industry to develop more accurate and sophisticated diagnostic devices and equipment. Following the increase in demand for early diagnosis of B. pseudomallei, InBios, launched Active Meliodosis Detect point of care diagnostic test for the detection of B. pseudomallei.

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The molecular diagnostics devices and equipment market covered in this report is segmented –

1) By Product: Instruments, Reagents And Consumables, Software

2) By Technology: DNA(Deoxyribonucleic acid) sequencing, Polymerase chain reaction, Isothermal Nucleic Acid Amplification Technology, Transcription Mediated Amplification (TMA),

In situ hybridization, Microarrays, Mass spectrometry, Other Technologies

3) By Application: Cancer, Pharmacogenomics, Genetic testing, Infectious disease, Prenatal, Other Applications

4) By End User: Diagnostic laboratories, Hospitals, Other End Users

The major players in the molecular diagnostic industry are focusing on developing automated solutions for devices and equipment used for molecular diagnostic processes. Automation of the process will help to enhance the productivity and consistency of the whole diagnostic process. Computerization of the diagnostic process gives reliable and efficient test results that manual testing by various experts does not. The major players in the industry are using nanotechnology-based Oral Fluid Nano Sensor Test (OFNASET). The test uses a microfluidic-based nanosensor for the detection of oral cancer biomarkers in saliva. To keep up with the trend of automation and accuracy, Roche, created cobas connection modules (CCM) to improve scalability and sample-flow efficiency by allowing samples to automatically move between different systems and instruments. Thus, creating a fully automated workflow.

The molecular diagnostics devices and equipment market report table of contents includes:

1. Executive Summary

2. Molecular Diagnostics Devices And Equipment Market Characteristics

3. Molecular Diagnostics Devices And Equipment Market Trends And Strategies

4. Molecular Diagnostics Devices And Equipment Market – Macro Economic Scenario

5. Global Molecular Diagnostics Devices And Equipment Market Size and Growth

26. South America Molecular Diagnostics Devices And Equipment Market

27. Brazil Molecular Diagnostics Devices And Equipment Market

28. Middle East Molecular Diagnostics Devices And Equipment Market

29. Africa Molecular Diagnostics Devices And Equipment Market

30. Molecular Diagnostics Devices And Equipment Market Competitive Landscape And Company Profiles

Top Major Players: