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Molecular Diagnostics Market Growth Projections and Opportunities
Molecular diagnostics is a critical component of patient care, equipping physicians with specific information essential for disease treatment. The global molecular diagnostics market is on a growth trajectory, fueled by factors such as the increasing geriatric population, a surge in chronic disease incidences, and a growing awareness of diseases. However, stringent regulatory policies pose a potential challenge to market expansion.
For the forecast period from 2019 to 2025, the global molecular diagnostics market is anticipated to exhibit a robust CAGR of 8.57%. In 2018, the Americas led the market, commanding a substantial 37.9% share, followed by Europe at 31.6% and Asia-Pacific at 23.4%.
The market segmentation is based on product, technique, application, end-user, and region. The reagents & kits segment, with a 66.4% market share valued at USD 6,119.60 million in 2018, is expected to sustain growth with a projected CAGR of 8.38%.
In terms of technique, the polymerase chain reaction (PCR) segment led with a 24.2% market share, reaching USD 2,226.79 million in 2018, and is poised to register a CAGR of 8.77%.
The infectious diseases segment dominated the application category, claiming a 44.7% market share valued at USD 4,117.70 million in 2018, and is anticipated to grow at a CAGR of 8.32%.
Among end-users, hospitals & clinics held the largest market share at 44.3%, amounting to USD 4,078.09 million in 2018, with an expected CAGR of 9.75% during the forecast period.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 18.5 Billion |
| Market Size Value In 2023 | USD 19.55 Billion |
| Growth Rate | 5.70% (2023-2032) |
Molecular Diagnostics Market Highlights:
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