Molecular Diagnostics Market Size to Hit US$ 29.67 Billion By 2032, Driven By Companion Diagnostics & Increasing Demand From the Aging Population

Molecular Diagnostics Market Size to Hit US$ 29.67 Billion By 2032, Driven By Companion Diagnostics & Increasing Demand From the Aging Population | Research by SNS Insider

The molecular diagnostics market is fuelled by several factors, such as the prevalence of chronic diseases (cancer), increasing government support in research and development activities & patient preference for collaborative medicine since it offers effective results with passive diagnoses, Says SNS Insider. The molecular diagnostics market is fuelled by several factors, such as the prevalence of chronic diseases (cancer), increasing government support in research and development activities & patient preference for collaborative medicine since it offers effective results with passive diagnoses, Says SNS Insider.

Pune, July 12, 2024 (GLOBE NEWSWIRE) -- Molecular diagnostics is revolutionizing healthcare with quicker and more accurate diagnostic techniques than many other traditional methods. It is important to develop these technologies as early detection of chronic illnesses such as cancer will be on the rise due to demographic aging. The urgent need for fast and accurate diagnostics is most dramatically illustrated by the rise of infectious diseases like HIV, HPV (causing cervical cancer) and TB.

Although, betterment in technologies such as NGS, PCR and microarrays is boosting the growth of molecular diagnostics tests which are extremely accurate giving healthcare providers to be on point. Molecular diagnostics are also having a big influence in the area of infectious diseases. With the increase in sexually transmitted infections such as HIV and HPV looming on, it is enlarging patient pool for these tests.

Fast diagnostics are similarly needed due to concerning trends in TB. UNAIDS further reports that nearly 38.4 million people live with HIV worldwide in 2021.

Because of the increasing burden from human immunodeficiency virus and its associated complications like TB, there would be surge in usage for molecular techniques as good diagnostics tools which drives overall demand for the molecular diagnostics market. Technological advancements in genome sequencing that is deciphering an individual's entire genetic code. (NGS) is the faster and more efficient analysis, offering a broader .