According to the current analysis of Reports and Data, the global Molecular Diagnostics market was valued at USD 7.28 Billion in 2018 and is expected to reach USD 13.81 Billion by year 2026, at a CAGR of 8.2%. The increasing efficiency of clinical trials, growing incidence of infectious and neurological diseases, and technological advancements in molecular pathology are major driving factors being the growth of the market. The increasing government aid for research and establishment of advanced testing facilities is also supporting the growth of the market.

The developing economies of India and China face some challenges in the form of the lack of a well-built procedural system for approvals, which hinders the growth of the molecular diagnostics market. Moreover, a shortage of skilled medical professionals is also limiting the growth of the market in many countries.

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Key companies operating in the market include:

Abbott, Roche Diagnostics, QIAGEN, Danaher, Hologic, Becton, Siemens Healthcare GmbH, Bio-Rad Laboratories, Dickinson and Co., Cepheid

Further key findings from the report suggest-

• The Veterinary Molecular Diagnostics market is witnessing a blooming growth as fungicidal therapies are being increasingly developed. Moreover, the development of specific assays and reagents has also contributed to the growth of the market.
• Based on product and service type, the reagents and kits segment held the largest share in the market in base year 2018. The increasing ease of usage and a widening applicability of reagents and kits is boosting market growth.
• Based on technology, the Polymerase Chain Reaction (PCR) segment held the largest share in the global Molecular Diagnostics market. The penetration of technological advancements in medical science along with the growing automation of PCR instruments contributes to this share.
• in Situ Hybridization is also a high growth registering technology because of the rising number of cancer cases and the resultant need of early diagnosis. Ongoing research and greater targeted funding are pushing the growth of this technology forward.
• By application, infectious diseases form the largest segment as they make the maximum usage of Molecular Diagnostics for diagnosis and therapeutic purposes. The incidence of infectious diseases has been increasing and government support is strong to eradicate their spread.
• The oncology segment, by application, is expected to register the highest CAGR during the period of forecast. The colorectal cancer molecular diagnostics, in particular, has been registering an impressive rate of growth during the forecast period.
• The instruments segment is expected to register a high CAGR during the forecast period. The demand for instruments is mainly driven by testing laboratories and clinics.

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For the purpose of this report, Reports and Data has segmented the Molecular Diagnostics market on the basis of product and service, technology, application, end use, and region:

Product and Service (Revenue, USD Million; 2016–2026)

• Reagents and Kits
• Instruments
• Services and Software

Technology (Revenue, USD Million; 2016–2026)

• Polymerase Chain Reaction (PCR) 
• Isothermal Nucleic Acid Amplification Technology (INAAT) 
• DNA Sequencing & Next-Generation Sequencing (NGS) 
• in Situ Hybridization 
• DNA Microarray 
• Other Technologies

Application (Revenue, USD Million; 2016–2026)

• Infectious Diseases
  • Hepatitis
  • HIV
  • CT/NG
  • HAIS
  • HPV
  • Tuberculosis
  • Influenza
  • Other Infectious Diseases
• Oncology
  • Breast Cancer
  • Colorectal Cancer
  • Lung Cancer
  • Prostate Cancer
  • Other Cancers
• Genetic Tests
• Others

End Use (Revenue, USD Million; 2016–2026)

• Hospital and Academic Laboratories
• Reference Laboratories
• Others

The regional analysis covers:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • Italy
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East & Africa
  • Saudi Arabia
  • A.E.
  • South Africa
  • Rest of MEA

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Benefits of Molecular Diagnostics Market Report:

• Panoramic overview of the opportunities and risks in the Molecular Diagnostics sector
• Study of recent innovations and developments in the industry
• Comprehensive study of the growth pattern of the Molecular Diagnostics industry
• In-depth assessment of the competitive landscape of the key players of the Molecular Diagnostics industry
• Analysis of the Molecular Diagnostics market drivers, constraints, and opportunities
• Assessment of technological developments and latest trends of the industry

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