Meticulous Research®—a leading market research company, published a research report titled, ‘Asia-Pacific Molecular Diagnostics Market by Product & Service (Kits, Instruments) Test Type (Lab, PoC) Technology (PCR, ISH, Sequencing, INAAT, Microarray) Application (Infectious Diseases, Oncology) End User (Hospitals, Diagnostic Lab) - Forecast to 2030’.

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According to a recent release by Meticulous Research®, the Asia-Pacific molecular diagnostics market is anticipated to reach a valuation of $11.87 billion by 2030, with a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030. This growth is largely attributed to rising healthcare expenditure, the increasing adoption of Point of Care (PoC) diagnostic tests, continuous advancements in molecular diagnostics technologies, and increased funding for Research and Development (R&D) in this sector. The growing emphasis on companion diagnostics also presents significant opportunities for market expansion. However, challenges such as stringent regulatory frameworks, the high cost of molecular diagnostic tests, and a shortage of skilled professionals could limit growth.

Key Players:
Leading companies in the Asia-Pacific molecular diagnostics market include:

F. Hoffmann-La Roche Ltd (Switzerland)
Hologic, Inc. (U.S.)
QIAGEN N.V. (Netherlands)
Danaher Corporation (U.S.)
bioMérieux S.A. (France)
Becton, Dickinson and Company (BD) (U.S.)
Siemens Healthineers AG (Germany)
DiaSorin S.p.A. (Italy)
Abbott Laboratories (U.S.)
Thermo Fisher Scientific Inc. (U.S.)
Agilent Technologies, Inc. (U.S.)
Illumina, Inc. (U.S.)
Seegene, Inc. (South Korea)
Future Outlook:
The Asia-Pacific molecular diagnostics market is segmented into Product & Service (Kits & Reagents, Instruments, Software & Services), Test Type (Laboratory Tests, Point of Care (PoC) Tests), Technology (Polymerase Chain Reaction (PCR), In Situ Hybridization (ISH), Isothermal Nucleic Acid Amplification Technology (INAAT), Microarrays, Sequencing, Mass Spectrometry, and Other Technologies), Application (Infectious Diseases, Oncology, Genetic Testing, Neurological Diseases, Cardiovascular Diseases, and Other Applications), and End User (Hospitals & Clinics, Diagnostic Laboratories, Academic & Research Institutes, and Other End Users). The report also provides an in-depth analysis of industry competitors and examines the market on a country-by-country basis.

Product & Service Segment: In 2023, the Kits & Reagents segment is projected to dominate due to the frequent use of diagnostic kits, the availability of disease-specific kits for early diagnosis, and technological advancements.
Test Type Segment: Laboratory tests are expected to hold the largest market share in 2023, driven by the extensive use of lab testing, availability across hospitals and labs, and high accuracy.
Technology Segment: Polymerase Chain Reaction (PCR) is anticipated to lead the market in 2023 due to its ability to quickly amplify DNA segments and its high sensitivity, making it effective for detecting low-number targets.
Application Segment: Infectious diseases are expected to dominate the market in 2023 due to the rising incidence of such diseases and government efforts for early diagnosis.
End User Segment: Hospitals & Clinics are projected to capture the largest market share in 2023, as they conduct a broad range of tests essential for clinical treatment planning.

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