The Business Research Company’s report on the Molecular Diagnostics Devices And Equipment Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the molecular diagnostics devices and equipment market in recent years?
Rising incidence of infectious diseases is expected to propel the growth of the molecular diagnostic devices and equipment market going forward. Infectious diseases refer to illnesses caused by pathogenic microorganisms, such as bacteria, viruses, fungi, or parasites, that can be transmitted from one individual to another or from animals to humans. The rising incidence of infectious diseases is driven by factors such as antimicrobial resistance, globalization and travel, urbanization, socioeconomic disparities, and an aging population. Molecular diagnostic devices and equipment are essential tools in the detection and management of infectious diseases. For instance, in March 2023, according to the Office for National Statistics, a UK-based government department, in the week ending 17 March 2023, the UK recorded 619 deaths related to COVID-19, up from 605 the week before. During this week, COVID-19 deaths represented 4.5% of all deaths in the UK, a slight decrease from 4.6% the prior week. Therefore, the rising incidence of infectious diseases is driving the growth of the molecular diagnostic devices and equipment market.
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What is the projected market size of the molecular diagnostics devices and equipment industry, and how is it expected to grow?
The molecular diagnostics devices and equipment market size has grown strongly in recent years. It will grow from $17.58 billion in 2024 to $19.01 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. 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 $24.77 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. 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).
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Who are the key players driving competition in the molecular diagnostics devices and equipment market?
Major companies operating in the molecular diagnostics devices and equipment market include F. Hoffmann-La Roche Ltd, QIAGEN N.V., Abbott Laboratories, Danaher Corporation, Biomérieux, Becton Dickinson & Co, Siemens Healthineers AG, Grifols S.A., Sysmex Corporation, Abbott India Limited, Qiagen India Pvt Ltd, Biocartis, Bio-Techne India Private Limited, Cleaver Scientific, Zhejiang Di’an Diagnostics Technology Co. Ltd, ADICON Clinical Laboratories, Guangzhou Kingmed Diagnostics Center Co. Ltd., Kindstar Global, BGI-Shenzhen, OriGene Technologies, Bayer AG, Johnson & Johnson, Nippon Becton Dickinson Company, QuantuMDx, Yourgene Health, Genefirst, Interlabservis, GeneMe, TestLine, Clinical Diagnostics s.r.o, Hologic Inc., Illumina Inc., Novartis AG, Cepheid Inc., Admera Health, Agilent technologies Inc., AutoGenomics, Bio-Red Laboratories Inc, Ortho Clinical Diagnostics Inc, Sysmex Middle East FZ-LLC, QIAGEN SA (Pty) Ltd.
What key trends are expected to drive the modular and prefabricated nonresidential building construction market during the forecast period?
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.
Which key geographies are driving the growth of the molecular diagnostics devices and equipment market?
Asia-Pacific was the largest region in the global molecular diagnostics devices (or) equipment market in 2024. Western Europe was the second largest market in molecular diagnostics devices (or) equipment market. The regions covered in the molecular diagnostics devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the molecular diagnostics devices and equipment market?
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
Subsegments:
1) By Instruments: Polymerase Chain Reaction (PCR) Machines, Nucleic Acid Analyzers, DNA Sequencers, Microarrays
2) By Reagents And Consumables: PCR Reagents, DNA Probes And Primers, Sample Preparation Kits, Control And Calibration Materials
3) By Software: Data Analysis Software, Laboratory Information Management Systems (LIMS), Bioinformatics Software, Integration Software For Instrumentation
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How is the molecular diagnostics devices and equipment market defined, and what are its core characteristics?
Molecular diagnostics devices are used to diagnose infectious diseases and perform screening by detecting specific sequences in DNA or RNA. It helps doctors prescribe more accurate therapeutic interventions in the early stages of a disease.
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