Moreover, rapid technological advancement in the molecular diagnostic product arena and increasing demand for point-of-care diagnostics along with rising consumer awareness regarding quick diagnostics, among others are some of the key factors responsible for the molecular diagnostic market growth during the forecasted period. The increase in demand for molecular diagnostics is primarily attributed to the growing incidence of infectious diseases such as the sudden outbreak of COVID-19 and the rising burden of cancers across the globe. The global molecular diagnostic market was valued at USD 16.94 billion in 2021, growing at a CAGR of 9.16% during the forecast period from 2023 to 2028, to reach USD 28.44 billion by 2028. Molecular Diagnostic Market By Product Type (Instruments, Reagents, And Others), By Technology (Polymerase Chain Reaction, Sequencing, In-Situ Hybridization, Microarray Analysis, And Others), By Application (Infectious Disease Diagnosis, Oncology Testing, Genetic Testing, Pharmacogenomics, Histology, And Others), By End-User (Hospitals, Pathology Labs, And Others), by geography, is expected to grow at a significant CAGR forecast till 2028 owing to the increase in the incidence of infectious diseases and growing cases of cancer across the globe. Molecular Diagnostics- Market Insights, Competitive Landscape and Market Forecast–2028 Track all the recent happenings in the pharma market Keep an eye on global healthcare conferences and events Stay updated with the evolving market trends and newsĬollection of success stories to understand the market scenario Receive regular healthcare updates and alerts via email

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Molecular diagnostics market size