Molecular Diagnostics Market

Foremost Companies in the Molecular Diagnostics Market: Danaher (US) and F. Hoffmann-La Roche Ltd. (Switzerland)

The molecular diagnostics market is valued at an estimated USD 17.3 billion in 2024 and is projected to reach USD 32.7 billion by 2029 at a CAGR of 13.5% during the forecast period. The growing availability of funds for research and development (R&D), government initiatives focused on early disease detection, and the increasing technological advancements by key companies supports the growth and development of the molecular diagnostics market.

The key players in this market are Danaher (US), F. Hoffmann-La Roche Ltd. (Switzerland), Illumina, Inc. (US), bioMérieux (France), Hologic, Inc. (US), Abbott (US), Thermo Fisher Scientific Inc. (US), QIAGEN (Netherlands), Revvity (US), Myriad Genetics, Inc. (US), Siemens Healthineers AG (Germany), Becton, Dickinson and Company (US), Grifols, S.A. (Spain), QuidelOrtho Corporation (US), DiaSorin S.p.A. (Italy), Exact Sciences Corporation (US), Genetic Signatures (Australia), Agilent Technologies, Inc. (US), MDxHealth (Belgium), Biocartis (Belgium), TBG Diagnostics Limited (Australia), HTG Molecular Diagnostics, Inc. (US), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), ELITechGroup (France), Molbio Diagnostics Pvt. Ltd. (India), geneOmbio Technologies (India), Savyon Diagnostics (Israel), and Uniogen OY (Finland).

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In 2023, Danaher (US) emerged as the top player in the molecular diagnostics market. The company's established presence within the US provides a strong foundation for expansion into emerging economies, fostering a broader global footprint. Danaher also demonstrates a commitment to continuous product development, catering to the diverse needs of its international customer base, that further strengthens the company's market leadership. Moreover, the company maintains its competitive edge through robust research and development initiatives, coupled with efficient supply chain management. Organic growth strategies, such as product launches and regulatory approvals also play a significant role.  For example, in March 2024, the company received clearance from the US FDA for the Xpert Xpress GBS test.  Similarly, in November 2022, the company launched the Xpert Xpress MVP, a multiplexed PCR test. These strategic actions contribute to Danaher's sustained dominance within the molecular diagnostics market.

In 2023, F. Hoffmann-La Roche Ltd. commanded a substantial market share within the molecular diagnostics market. This leadership position stems from their extensive distribution network spanning North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. This comprehensive reach mitigates regional demand fluctuations and ensures consistent product availability globally.  Furthermore, Roche employs strategic acquisitions to solidify its market dominance.  For instance, in March 2021, the company entered into a merger with GenMark Diagnostics (US) to access novel technologies for testing a broad range of pathogens in one patient sample. These strategic moves strengthen Roche's product offerings and technological capabilities, securing their position as a key player in the molecular diagnostics market.

In 2023, Illumina, Inc. (US) held a prominent position in the molecular diagnostics market. Building on a strong foundation in the US, the company actively pursues geographic expansion through strategic investments in emerging markets. This commitment to international growth strengthens Illumina's market position. Furthermore, a robust product portfolio, encompassing FDA and CE-approved solutions, has significantly contributed to the company's substantial market share.

Related Reports:

Molecular Diagnostics Market by Product & Services (Kits, Instruments, Software), Test Type (Lab, PoC), Sample (Blood, Urine), Technology (PCR, NGS, ISH, INAAT), Application (Infectious (Hepatitis, HIV, HAI, TB, HPV), Oncology) - Global Forecast to 2029

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Molecular Diagnostics Market Size,  Share & Growth Report
Report Code
MD 2521
RI Published ON
7/23/2024
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