Molecular Diagnostics Market Analysis

Molecular Diagnostics Market Analysis

Molecular diagnostics market value from PCR technology is estimated to surpass USD 22 billion by 2032. New breakthroughs in target-specific PCR systems are providing higher levels of amplification along with simultaneous detection of pathogen DNA. Additionally, PCR has an extensive range of applications in the space of healthcare and research. The technology is primarily used in the effective management of health problems such as caries, endodontic infections, oral cancer, and periodontal disease.
 

Molecular diagnostics market size from hospitals & clinics is anticipated to exhibit more than 3.5% CAGR between 2023 and 2032. Due to the growing disease burden, the emergence of novel epidemics & pandemics, and the increasing spending on healthcare infrastructure, the network of hospitals & clinics worldwide is set to expand significantly.
 

North America molecular diagnostics market size is slated to exceed USD 15 billion by 2032. North America is predicted to emerge as a hub for molecular diagnostics due to the increasing number of infectious disease outbreaks and the growing geriatric population. As per data from the Centers for Disease Control & Prevention (CDC), respiratory syncytial virus (RSV) infections lead to the hospitalization of more than 60,000-120,000 older adults in the U.S. each year with more than 6,000 deaths.