Molecular Diagnostics Market Size

Molecular Diagnostics Market Size

Molecular Diagnostics Market size was worth USD 25 billion in 2022 and is projected to record more than 3.5% CAGR from 2023-2032. Increasing awareness regarding early disease diagnostics will accelerate industry growth.

The market for point of care molecular diagnostics is likely to surpass USD 90 billion by 2032. Growing awareness regarding early disease diagnosis and advancements in automated technologies are expected to positively influence market outlook. New-generation diagnostic solutions are offering superior levels of accuracy, convenience of use, and portability enabling early detection of an array of infectious diseases. With the rising prevalence of infectious diseases and chronic illnesses such as cancer, molecular diagnosis has emerged as a vital tool in disease management and therapy. Furthermore, the growing emphasis on precision medicine is encouraging manufacturers to design high-performance testing solutions.