Molecular Diagnostics Market Worth $ 13,873.6 Million, Market to Boost with Increasing Investments

The global molecular diagnostics market size is expected to reach USD 13,873.6 million by 2026. As per the report published by Fortune Business Insights, titled “Molecular Diagnostics Market Size, Share and Industry Analysis By Product Type (Instruments Reagents & Consumables), By Application (Infectious Disease, Blood Screening, Histology & Oncology), By Technique (Hospitals Amplification, Hybridization & Sequencing Techniques), End User (Hospitals, Clinical & Pathology Labs), and Regional Forecast 2018-2025,” the market value stood at USD 8,012.7 Million in 2017 and is anticipated to register a CAGR of 7.1% during the forecast period, 2018-2025.

Leading organizations such as Danaher, Abbott, F. Hoffmann-La Roche Ltd., and QIAGEN are leading the global molecular diagnostics market during the period of 2018 to 2025. Factors such as the presence of a robust supply chain network and favourable research and development strategies are enabling these players to establish a strong foothold in the global molecular diagnostics market. In addition to this, increasing investments in cost management will create great growth opportunities in the market in the forthcoming years.

Molecular diagnostics emerged as a superior methodology in the past decade since it provides faster diagnosis with minimal complexities. The demand for molecular diagnosis is expected to rise due to the rising prevalence of infectious diseases in both developing and developed nations. Major outbreaks of bacterial and viral infections in the Middle East and Africa have compelled all government and research institutions worldwide to adopt molecular diagnostics for inhibiting microbial outbreaks.

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https://www.fortunebusinessinsights.com/industry-reports/molecular-diagnostics-market-100086

Infectious Diseases Application Attracting Most Revenue

At present, the increasing incidence of microbial outbreaks is boosting the market for molecular diagnostics. In terms of technique, the amplification techniques segment is anticipated to contribute a major share in the market. The reagent and consumables segment is also expected to grow at a significant rate. By application, the infectious diseases segment was valued at USD 4,853.0 Million in 2017.

Awareness programmes aimed at spreading awareness on infectious diseases and relevant preventive measures as adopted by the World Bank, World Health Organization (WHO), and other international organizations are also contributing to the growth of the molecular diagnostics market. Huge amount of resource engagement in terms of expertise, technology, and finance along with favourable environment for the simulation of research projects, especially for infectious diseases will boost the market.

Government Support for Reinforcement to Result in Higher Growth of Market in North America

The presence of major players in North America is likely to help the regional market to dominate at a global level. Besides, the collaborative efforts taken by large academic institutions and hospital research organizations to improve clinical efficiency will also boost the molecular diagnostic market in North America. On the other side, the molecular diagnostics market in Europe is likely to witness remarkable growth owing to the rising adoption of molecular diagnostics by clinical microbiology organizations and bigger hospitals.

The market in Asia Pacific is currently at the premature stage, but the rapidly developing healthcare and medical infrastructure and increasing investments in research and development are likely to create growth opportunities for the molecular diagnostics market in Asia Pacific in the coming years.

The global molecular diagnostics market is segmented into the following categories: