Molecular Diagnostics Market to Reach US$ 30 Billion by 2021 Molecular Diagnostics Market Research Report 2021 | Page 3

Global Molecular Diagnostics Industry Expected To Reach US$ 30 Billion by
2021
The global molecular diagnostics market is projected to reach more than US$ 30 Billion by 2021, at a CAGR
of XX% from 2016 to 2021.The global market is mainly driven by chronic infections, growing geriatric
population, increasing demand for personalized medicines, and R&D activities for biomarker identification
equipped with emergence of new technology and applications. In addition, innovations in molecular
diagnostics for treating cancer, government support for research and development, and high patient
awareness levels are driving the growth of molecular diagnostic market.
On the basis of application, Molecular oncology tests have emerged as a significant rapidly growing market
segment. Oncology test controls nearly 25% market share by the year 2021.
Other segments such as infectious diseases test and genetic testing is poised to be remarkable expansion in
the near future. Growing demand for infectious diseases and genetic tests is an opportunity for global
molecular diagnostics market.
In terms of technology, Biochips/Microarrays is the fastest growing segment and is expected to boom
further within the forecast period. FISH & Innovations and PCR based test is expected to grow at the
highest CAGR in the coming years.
On the basis of company, Roche is the leading company with more than 30% market share in the global
molecular diagnostics market and is expected to hold its strong position in the market. Becton Dickinson,
Myriad Genetics, Abbott and Qiagen is expected to robust market growth in the global molecular
diagnostics market.
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