latest statistical data titled Molecular Diagnostics Market has been published by Absolute Markets Insights to its expansive repository. The report covers penetrative insights into distinctive market features such as recent trends which are comprehensively discussed in order to provide an in-depth analysis of the progress of the industries. Effective research methods such as qualitative and quantitative analysis are used to obtain accurate data.

Top Key Players includes: Roche Diagnostics; Abbott; Bio-Rad Laboratories, Inc.; Siemens Healthcare GmbH; Alere, Inc.; Bayer AG; Dako; Hologic, Inc. (Gen probe); Sysmex Corporation; Danaher; Johnson & Johnson; Novartis AG; Qiagen N.V.; Becton, Dickinson and Company; Cepheid; and bioMerieux SA.

Global Molecular Diagnostics Market was valued at US$ 8750.32 million in 2020 and is expected to reach US$ 16359.76 million by 2030, growing at an estimated CAGR of 7.2% over the forecast period.

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The global molecular diagnostics market has been segmented on the basis of products and services, by application, by technology and by end user.

By Products and Services: During the forecast period, molecular diagnostic reagents and kits are expected to grow at the fastest rate in molecular diagnostics market. Molecular Diagnostic Reagents are used to identify and measure viral and bacterial presences. Molecular reagent testing provides more accurate treatment of diseases. Manufacturers particularly concentrate on next-generation technology that will allow biologists to analyse and interpret the vast amount of genomic data. Technological advancements in the field of these reagents will include low-cost polymerase chain reaction equipment and fast identification of amplicons.

By Application: In terms of application, the molecular diagnostics market has been split into genetic tests, infectious diseases, oncology and others. Over recent years, the use of molecular diagnostics has increased, and what once was a technique reserved for specialist centres is now in common use in most diagnostic labs. Comprehensive molecular diagnostics have now become a standard of even simple laboratories, treating diseases such as influenza, human immunodeficiency viruses, methicillin-resistant Staphylococcus aureus, including the ability to diagnose drug resistance. The key use remains in the world of virology, where molecular diagnostics have been able to replace long cultivation methods which allow safe and fast diagnosis.

By Techniques: DNA sequencing is a simple technique for quick results which can be set up directly in the clinic. Reasons like developments in sequencing technology and growing focus on the development and launch of diagnostics by key market players fuel the growth of DNA sequencing. NGS (next-generation sequencing) kits and panel’s growing awareness and acceptance of personalized medicine, and expanded use of molecular diagnostic techniques in pharmacogenetics, genomics science, and point-of-care testing are expected to fuel the development of this technology in the coming years.

By End User: Private laboratories are dominating in molecular diagnostics market. These labs receive samples from hospitals or research sites and they perform diagnostic operations. Many hospitals have integral labs in their premises and at distance as well. Independent laboratories now a days have advance sample collection tools, special testing capabilities and provide fast test results. Thus, growing their influence in Molecular Diagnostic market.

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