The Emerging Molecular Diagnostics Market is being driven by Prevalence of chronic diseases
The Emerging Molecular Diagnostics Market is expected to grow at a CAGR of 6.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3801.3 million. The emerging molecular diagnostics market is experiencing robust growth, driven by continuous innovation and new product launches. In February 2023, Thermo Fisher Scientific, Inc. introduced the QuantStudio, a digital PCR research tool from Applied Biosystems, marking a significant advancement in digital PCR technology. The Absolute Q AutoRun dPCR Suite, also launched by Thermo Fisher Scientific, is anticipated to revolutionize molecular diagnostics with its improved precision, automation, and wide application range, from basic research to clinical diagnostics. This innovation is expected to enhance the accuracy and reliability of molecular diagnostic tools, significantly impacting the market landscape.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
206 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.4% |
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Market growth 2025-2029 |
USD 3801.3 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
5.0 |
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Key countries |
US, UK, Germany, China, Japan, Canada, India, South Korea, Australia, and Mexico |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Emerging Molecular Diagnostics Market encompasses advancements in patient monitoring through personalized medicine, medical research, and clinical diagnostics. Healthcare technology innovations include point-of-care diagnostics, clinical trials, disease prevention, and drug development. Genetic testing services, gene sequencing, and early disease detection play a significant role. Biomarker discovery and biotechnology advancements, such as DNA sequencing technology and liquid biopsy, are driving precision medicine. The biotechnology industry focuses on digital health, regulatory standards, and disease screening. Clinical decision support, laboratory automation, telemedicine, molecular TB testing, and services and software are essential components. Medical device development, wearable technology, and remote patient monitoring in home healthcare are also part of this dynamic market.
The global life sciences tools and services market encompasses companies and offerings involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, accessories, and consumables. These tools are utilized in the pharmaceutical and biotechnology sectors, as well as laboratory diagnosis of diverse disease areas. The market size is determined by Technavio through the consolidated revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services. Factors driving market growth include the increasing elderly population, with predictions of a significant increase in those aged 60 and above. Additionally, advancements in molecular diagnostics, including the identification of deletions and single nucleotide polymorphisms in genetic sequences, are fueling market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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