Frequently asked questions
The global molecular diagnostics instruments market was valued at USD 15.9 Billion in 2022.
The molecular diagnostics instruments market is expected to grow at a CAGR of 11.7% between 2023 and 2030, reaching USD 34.4 Billion in 2030.
Polymerase chain reaction (PCR) is the leading segment by technology, holding over 20% share in value in 2022.
Oncology governs the global demand for molecular diagnostics instruments, holding a massive share of over 30% in 2022.
The instruments segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the molecular diagnostics instruments industry, with an over one-third share in 2022.
The top players include Agilent Technologies Inc., F. HOFFMAN LA-ROCHE LTD, BECTON DICKINSON AND COMPANY, QIAGEN INC, and SIEMENS AG (SIEMENS HEALTHINEERS).
The major market drivers are advancements in genomic technologies, increasing prevalence of infectious diseases, growing demand for personalized medicine, and technological innovations and automation.
The major market restraints include high costs associated with molecular diagnostics instruments and regulatory and reimbursement challenges.
Expanding applications in oncology, the rise of liquid biopsies, point-of-care molecular diagnostics, and integration of artificial intelligence and data analytics.