Core Clinical Molecular Diagnostics Market Expected to Reach $11.9 Billion by 2032, Reflecting Growing Demand for Precise Diagnoses

The growing geriatric population serves as a pivotal driver for the robust growth of the core clinical molecular diagnostics market. Core clinical molecular diagnostics encompass vital laboratory techniques used to analyze genetic material (DNA, RNA) and proteins at the molecular level. These techniques, including Polymerase Chain Reaction (PCR), DNA sequencing, and Next-Generation Sequencing (NGS), are integral to disease diagnosis, prognosis, and treatment selection in personalized medicine. According to the report, the global core clinical molecular diagnostics market was valued at $4.8 billion in 2022 and is estimated to reach $11.9 billion by 2032, exhibiting a CAGR of 9.5% from 2023 to 2032.

Core Clinical Molecular Diagnostics Market in Short:

CAGR: 9.5%

Current Market Size: USD 11.9 Billion

Fastest Growing Region: APAC

Largest Market: North America

Projection Time: 2023-2032

Base Year: 2023

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What are core clinical molecular diagnostics?

Core clinical molecular diagnostics refers to the essential techniques and procedures used in medical laboratories to analyze DNA, RNA, and proteins for the purpose of diagnosing genetic disorders, infectious diseases, and other conditions at the molecular level. These diagnostics play a crucial role in personalized medicine, as they allow healthcare professionals to tailor treatments to the specific genetic makeup of individual patients.

What are the key drivers in the core clinical molecular diagnostics market report?

The major factor that fuels the growth of the core clinical molecular diagnostics market are increasing demand for precision medicine, rising prevalence of chronic diseases, and advancements in molecular diagnostics technology.

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By product type, the reagent segment accounted for the largest share in 2022, accounting for more than half of the global core clinical molecular diagnostics market revenue. This was primarily attributed to its indispensable role in molecular diagnostics. Reagents are essential components in PCR, sequencing, and other techniques, thus driving the demand. Furthermore, rise in innovation and adoption of advanced reagents in effective diagnostic workflows drive the segment growth.

By technique, the PCR segment accounted for the largest share in 2022, accounting for half of the global core clinical molecular diagnostics market revenue. This was primarily attributed to several factors. PCR techniques are widely utilized for their versatility, sensitivity, and specificity in detecting genetic variations, infectious agents, and mutations associated with various diseases. Additionally, ongoing advancements in PCR technology, such as real-time PCR and digital PCR, further contribute to its sustained leadership in the molecular diagnostic market.

Top Leading Key Companies -

·        F. Hoffmann-La Roche Ltd.

·        Novartis, Abbott Laboratories

·        Becton, Dickinson and Company

·        Siemens Healthineers

·        Agilent Technologies

·        Hologic Inc.

·        Bio-Rad Laboratories Inc.

·        Qiagen

·        BioMérieux

Market: By Region Outlook

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)

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Important Questions Being Answered by This Market Report Are -

Q1. What is the total market value of core clinical molecular diagnostics market report?

Q2. What would be forecast period in the market report?

Q3. What is the market value of core clinical molecular diagnostics market in 2032?

Q4. Which is base year calculated in the core clinical molecular diagnostics market report?

Key findings of the study -

• In October 2020, Cepheid (Subsidiary of Danaher Corporation) announced that it has received clearance from the U.S. Food and Drug Administration for Xpert BCR-ABL Ultra for monitoring disease burden in patients with Chronic Myeloid Leukemia (CML).
• In May 2021, Qiagen announced the launch of an expanded scope of companion diagnostic (CDx) claims for the therascreen KRAS RGQ PCR Kit (therascreen KRAS Kit) after it received the U.S. regulatory approval as a companion diagnostic to aid in the identification of non-small cell lung cancer (NSCLC) patients.

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