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Global Molecular Diagnostics Market size was valued at USD 14.00 billion in 2022 and is poised to grow from USD 15.60 billion in 2023 to USD 37.00 billion by 2031, growing at a CAGR of 11.4% during the forecast period (2024-2031).

In the constantly shifting landscape of the molecular diagnostics market, companies are engaged in cut-throat competition and the process is characterized by innovations and strategies that can help the players gain a competitive edge over others. Some of the big players continue to dominate these markets through a broad portfolio of diagnostic services, mergers, and acquisitions, and broad sales and franchise networks. Also, the cooperation and collaboration between large-scaled companies and new entrant startups further intensify competition and innovation dynamics and the competition remained constant in bringing innovative technologies into the market thus maintaining a healthy market ecosystem with opportunities and threats simultaneously. 'Danaher (US) ', 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'Hologic, Inc. (US) ', 'Abbott Laboratories (US) ', 'Illumina, Inc. (US) ', 'Thermo Fisher Scientific Inc. (US) ', 'bioMérieux SA (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)'

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.

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Global Molecular Diagnostics Market

Product ID: SQMIG35A2636