Molecular Diagnostics Market Trends

Molecular Diagnostics Market size was valued at USD 15.6 Billion in 2023 and is poised to grow from USD 17.38 Billion in 2024 to USD 41.22 Billion by 2032, growing at a CAGR of 11.4% during the forecast period (2025-2032).

F. Hoffmann-La Roche Ltd. (Switzerland), Hologic, Inc. (US), Abbott Laboratories (US), Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), bioMérieux (France), QIAGEN (Netherlands), Agilent Technologies Inc. (US), Becton Dickinson And Company (US), Grifols S.A. (Spain), Siemens AG (Siemens Healthineers) (Germany), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), Quidel Corporation (US), Biocartis (Belgium), DiaSorin (Italy), Myriad Genetics (US), Revvity (US), MDxHealth (Belgium), OncoCyte Corporation (US)

The PCR (Polymerase Chain Reaction), NGS (Next-Generation Sequencing), and microarray technologies have developed rapidly and evolved the entire molecular diagnostic technology, thus contributing to the enhanced market. Advancements in this diagnostic equipment have continued to develop better accuracy, sensitivity and speed thus contributing to market expansion. 

Shift towards Point-of-Care Testing: There is a growing trend towards point-of-care molecular testing, driven by the need for rapid diagnosis and treatment monitoring in various healthcare settings, including clinics, emergency rooms, and ambulances. Miniaturized and portable molecular diagnostic devices are being developed to enable real-time testing outside traditional laboratory settings, enhancing patient care and healthcare efficiency. 

North America come up as the largest market and held a 39% share in 2023. This can be attributed to the increasing incidence of both infectious and chronic diseases; such trends make companies develop new molecular diagnostic tests to help drive the market further. For instance, in August 2023, QIAGEN recently got approval through the U. S FDA for Thera screen PDGFRA RGQ PCR kit; this helps physicians identify patients with gastrointestinal stromal tumor (GIST). In addition, in the year of January 2023, the FDA has granted EUA for the VIASURE Monkeypox Virus Real-Time PCR Reagents manufactured by BD and CerTest Biotec for identifying the Mpox virus. In addition, increased consumer awareness and health consciousness, high standards of living and specifically, well developed healthcare infrastructure can be said to be the factors that are driving this growth.