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Molecular Diagnostics Market Forecast, 2023-2032

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The global molecular diagnostics market size was valued at USD 30.89 billion in 2022 and is expected to decline at a compounded annual rate of -0.4% from 2023 to 2030. The decrease in the market size can be attributed to the reduced demand for molecular COVID-19 testing throughout the forecast period. However, factors such as technological advancements, the rising elderly population, and increasing demand for genetic testing are boosting the growth of the market. In addition, rising demand for Point of Care (PoC) testing can be attributed to increasing demand for self-testing diagnostics, and patient awareness about faster diagnostics.


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