Infectious Disease Molecular Diagnostics Market Is Estimated To Register A CAGR Of 3.0% To 2028Posted by rahul nikade on September 2nd, 2022 Infectious Disease Molecular Diagnostics Industry Overview The global infectious disease molecular diagnostics market size was valued at USD 32.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.0% from 2020 to 2028. The growth can be attributed to the growing use of molecular diagnostics in infection detection, the rising geriatric population, and the increasing demand for point-of-care molecular diagnostics. The outbreak of COVID-19 is anticipated to act as a key driver. Gather more insights about the market drivers, restrains and growth of the Global Infectious Disease Molecular Diagnostics Market The global geriatric population is increasing. Over 727.0 million people globally were categorized in the age group 65 and above. The geriatric population is more susceptible to COVID-19 owing to multimorbidity, decreased immune function, and physiological changes associated with aging. According to CDC in 2021, 80% of COVID-19 related deaths were among people aged over 65. Thus, this group has to be tested continuously to avoid severe infections, which creates growth opportunities for molecular diagnostic tests in regions such as Russia, Japan, and the U.S. that have the highest elderly people globally. The infectious disease molecular diagnostics test menus cannot afford to be static or superficial due to the diverse nature of infectious diseases and the building resistance of causative agents. For instance, the coronavirus outbreak in China was declared a global health emergency by the WHO in January 2020. RT-PCRs and sequencing tools were used in the identification and characterization of the virus. An increase in external funding to conduct clinical studies in infectious disease molecular diagnostics is expected to drive the market. Funding plays a significant role in the product development process. For instance, in October 2019, Sense Biodetection Limited received an investment of USD 16.85 million for POC molecular diagnostic development with an initial focus on infectious diseases such as influenza diagnostics. Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.
Infectious Disease Molecular Diagnostics Market Segmentation Grand View Research has segmented the global infectious disease molecular diagnostics market based on product, end use, technology, application, and region: Infectious Disease Molecular Diagnostics Product Outlook (Revenue, USD Million, 2017 - 2028)
Infectious Disease Molecular Diagnostics End-use Outlook (Revenue, USD Million, 2017 - 2028)
Infectious Disease Molecular Diagnostics Technology Outlook (Revenue, USD Million, 2017 - 2028)
Infectious Disease Molecular Diagnostics Application Outlook (Revenue, USD Million, 2017 - 2028)
Infectious Disease Molecular Diagnostics Regional Outlook (Revenue, USD Million, 2017 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the global infectious disease molecular diagnostics market include
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