Molecular Diagnostics Market Size Worth $31.9 Billion By 2030

The global molecular diagnostics market size was valued at USD 37.04 billion in 2021 and is expected to reach USD 31.9 billion by 2030, declining at a CAGR of -1.6% from 2022 to 2030. Molecular diagnostics enables the testing of several infectious and chronic diseases and provides quick and precise results. The increasing incidences of hospital-acquired infections (HAI) and infectious diseases are primarily fueling the market demand. Moreover, the rising awareness and prevalence of genetic health ailments further augment the growth of the market.

The downward trend of the market can be attributable to the weakening in demand for molecular testing of COVID-19 infections during the forecast period. Nonetheless, factors including increasing technological innovations, a rise in the geriatric population, and proliferating demand for genetic disease testing are supplementing the growth of the market. Additionally, the growing demand for Point-of-Care (PoC) testing is steered by the increasing demand for self-testing and increasing patient awareness regarding speedy diagnostics.

Numerous molecular diagnostics companies are investing in R&D activities to be in line with the advanced technologies and devise exceptional solutions to gain a competitive edge in the market. Key market players are undertaking growth strategies including product launches, mergers, and acquisitions in order to market their product offerings and improve product capabilities. For instance, in September 2022, Roche declared its plans to acquire Good Therapeutics, a biopharmaceutical company, in a deal of $250 Million. This acquisition is expected to support Roche in expanding its portfolio of molecular diagnostics.

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Molecular Diagnostics Market Report Highlights

• Based on product, the reagents segment held the largest market share owing to the increasing demand for reagents in recent times for COVID-19 diagnostic testing

• Based on technology, polymerase chain reaction (PCR) technology led the growth of the market, accounting for a revenue share of 64.6% in 2021. The rising adoption of PCR technology in COVID-19 diagnosis and for other infectious disease testing drives the segmental growth

• Based on test location, the Self-testing or Over the Counter (OTC) segment is projected to depict the fastest CAGR during the forecast period, as it aids in early diagnosis and continuous monitoring of patients.

• North America dominated the global market in 2021. This is credited to an uptrend in disease prevalence, technological advancements, a high testing rate for COVID-19 infection, proactive government measures, and innovations in the healthcare infrastructure.

Molecular Diagnostics  Market Report Segments

Molecular Diagnostics Product Outlook (Revenue, USD Million, 2017 - 2030)
    • Instruments
    • Reagents
    • Others

Molecular Diagnostics Test Location Outlook (Revenue, USD Million, 2017 - 2030)
    • Point-of-Care
    • Self-test or Over the Counter
    • Central Laboratories

Molecular Diagnostics Technology Outlook (Revenue, USD Million, 2017 - 2030)
    • Polymerase chain reaction (PCR)
        • PCR, by Type
            • Multiplex PCR
            • Other PCR
        • PCR, by Product
            • Instruments
            • Reagents
            • Others
    • In Situ Hybridization (ISH)
        • Instruments
        • Reagents
        • Others
    • Isothermal Nucleic Acid Amplification Technology (INAAT)
        • Instruments
        • Reagents
        • Others
    • Chips and Microarrays
        • Instruments
        • Reagents
        • Others
    • Mass Spectrometry
        • Instruments
        • Reagents
        • Others
    • Sequencing
        • Instruments
        • Reagents
        • Others
    • Transcription Mediated Amplification (TMA)
        • Instruments
        • Reagents
        • Others
    • Others
        • Instruments
        • Reagents
        • Others

Molecular Diagnostics Application Outlook (Revenue, USD Million, 2017 - 2030)
    • Oncology
        • Breast Cancer
        • Prostate Cancer
        • Colorectal Cancer
        • Cervical Cancer
        • Kidney Cancer
        • Liver Cancer
        • Blood Cancer
        • Lung Cancer
        • Other Cancer
    • Pharmacogenomics
    • Infectious Diseases
        • Methicillin-resistant Staphylococcus Aureus (MRSA)
        • Clostridium Difficile
        • Vancomycin-resistant Enterococci (VRE)
        • Carbapenem-resistant Bacteria
        • Flu
        • Respiratory Syncytial Virus (RSV)
        • Candida
        • Tuberculosis and Drug-resistant TBA
        • Meningitis
        • Gastrointestinal Panel Testing
        • Chlamydia
        • Gonorrhea
        • HIV
        • Hepatitis C
        • Hepatitis B
        • Other Infectious Diseases
    • Genetic Testing
        • Newborn Screening
        • Predictive and Presymptomatic Testing
        • Other Genetic Testing
    • Neurological Disease
    • Cardiovascular Disease
    • Microbiology
    • Others

Molecular Diagnostics Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Belgium
        • Switzerland
        • Netherlands
        • Poland
        • Austria
        • Greece
        • Sweden
        • Turkey
        • Finland
    • Asia Pacific
        • Japan
        • China
        • India
        • Sri Lanka
        • Malaysia
        • Australia
        • New Zealand
        • Thailand
        • Vietnam
        • Singapore
    • Latin America
        • Brazil
        • Mexico
        • Chile
        • Peru
        • Colombia
        • Argentina
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • Jordan
        • UAE
        • Qatar
        • Nigeria
        • Egypt

List of Key Players in Molecular Diagnostics Market
    • Becton, Dickinson and Company
    • bioMérieux SA
    • Bio-Rad Laboratories, Inc.
    • Abbott
    • Agilent Technologies, Inc.
    • Danaher Corporation
    • Hologic, Inc. (Gen Probe)
    • Illumina, Inc.
    • Johnson & Johnson Services, Inc.
    • Grifols, S.A.
    • QIAGEN
    • F. Hoffmann-La Roche, Ltd.
    • Siemens Healthineers AG
    • Sysmex Corporation