Molecular Diagnostics Market

Danaher (US) and F. Hoffmann-La Roche Ltd. (Switzerland) are Leading Players in the Molecular Diagnostics Market

The molecular diagnostics market is valued at an estimated USD 15.6 billion in 2023 and is projected to reach USD 26.8 billion by 2028 at a CAGR of 11.4% during the forecast period. The growing burden of infectious diseases and the rising incidence of cancer have created a significant demand for accurate and efficient diagnostic tools, leading to the expansion of the molecular diagnostics market.

The key players in this market are Danaher (US), F. Hoffmann-La Roche Ltd. (Switzerland), Hologic, Inc. (US), Abbott Laboratories (US), Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), bioMérieux (France), QIAGEN (Netherlands), Revvity (US), Myriad Genetics, Inc. (US), Siemens Healthineers AG (Germany), Becton, Dickinson and Company (US), Grifols, S.A. (Spain), QuidelOrtho Corporation (US), Agilent Technologies, Inc. (US), DiaSorin S.p.A. (Italy), Exact Sciences Corporation (US), Genetic Signatures (Australia), MDx Health (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), Savyon Diagnostics (Israel), Abacus Diagnostica Oy (Finland), and geneOmbio Technologies Pvt. Ltd. (India).

To know about the assumptions considered for the study download the pdf brochure

Danaher dominated the molecular diagnostics market with a significant market share in 2022. The company has a strong presence in the US, which serves as a foundation for expanding its operations in emerging economies, thereby strengthening its geographical reach. By continuously developing new products, Danaher caters to a diverse customer base across various geographical locations. This strategic focus further reinforces the company's ability to retain its leading position in the molecular diagnostics market. In addition to its R&D efforts and supply chain management, Danaher leverages organic growth strategies, such as regulatory approvals, to maintain its market leadership. For example, the company received CE Mark for Xpert NPM1 Mutation in May 2023 and Xpert Xpress GBS in November 2022. Furthermore, in October 2021, the company received the CE Mark for Xpert Xpress CoV-2/Flu/RSV plus. Such product launches contribute to Danaher’s continued success and its sustained leading position in the molecular diagnostics market.

F. Hoffmann-La Roche Ltd. (Switzerland), a prominent player in the global molecular diagnostics market, secured a significant market share in the molecular diagnostics market in 2022. The company's strong distribution networks spanning North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa have contributed to its sustained leadership in the market. Roche benefits from a robust direct and indirect distribution network worldwide, which helps mitigate the impact of demand fluctuations across different regions. To further enhance its market dominance, the company employs inorganic growth strategies, such as partnerships and acquisitions. In September 2021, the company announced the acquisition of TIB Molbiol (Germany) to expand its PCR test portfolio with a wide range of assays for infectious diseases. In 2020, Roche collaborated with Illumina Inc. (US) to expand the utilization of NGS-based testing in the field of oncology. These strategic initiatives enable Roche to secure a larger market share and strengthen its position in the molecular diagnostics market.

In 2022, Hologic, Inc. (US) held a significant market share in the molecular diagnostics market. The company's leading position can be attributed to its robust global sales and distribution network, which effectively promotes its products across various countries. Hologic has strategically emphasized R&D initiatives to develop innovative and superior offerings compared to its competitors. By investing in R&D, the company aims to optimize its product portfolio and allocate capital wisely, thereby fostering future growth and maintaining its competitiveness in the diagnostics segment.

Furthermore, Hologic implements both organic and inorganic strategies, such as product launches and acquisitions, to further strengthen its standing in the molecular diagnostics market. In June 2021, the company made a significant acquisition of Mobidiag Oy (Finland), a renowned innovator in molecular diagnostic testing. This strategic move expanded Hologic's product line considerably and enhanced its market visibility, bolstering its overall position in the industry.

Related Reports:

Molecular Diagnostics Market by Product & Service (Reagents, Kits), Test Type (Lab, PoC), Sample Type (Blood, Urine), Technology (PCR, INAAT), Application (Infectious, Oncology), End User (Diagnostic Labs, Hospitals), Region - Global Forecast to 2028

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Molecular Diagnostics Market Size,  Share & Growth Report
Report Code
MD 2521
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status