The Global Molecular Diagnostics Market

The Global Molecular Diagnostics market size was valued at USD 9.9 billion in 2018 and is anticipated to expand at a CAGR of 9.1% over the forecast period. Advancements in molecular diagnostics have enabled detection of various diseases that could possibly reduce social and economic burden in a country.

Technological advancements in molecular diagnostics are expected to significantly drive the market as they enable greater accuracy, portability, and cost-effectiveness. 

According to WHO, in 2019, the average prevalence rate of hospital-acquired infections in Europe and U.S. was 7.1% and 4.5%, respectively. Molecular diagnostics play an important role in infectious disease testing as they provide effective and fast results. Hence, rising prevalence of infectious diseases and hospital-acquired infections is expected to drive the market over the forecast period.

Central laboratories dominated the market in terms of revenue share in 2018 owing to high procedure volume and extensive presence of ancillary support in terms of man power and infrastructure.

The point-of-care (PoC) segment is projected to exhibit the fastest CAGR during the forecast period. Growing demand for bedside patient care owing to a flourishing home healthcare market coupled with rising market penetration of decentralized healthcare establishments is one of the major factors that can be attributed to its rapid growth.

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ROI in less than a 1 year
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No need to have knowledge or training in the medical field
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