Favorable government policies and the rising prevalence of chronic diseases

WILMINGTON, Del. - May 29, 2023 - PRLog -- The report, titled "Global Core Molecular Laboratory Market Analysis and Forecast, 2019-2028" analyzes the market in the region according to technology, product and region. An in-depth market analysis report gives an overall historical and future market size in terms of market value (US$ Million) along with a complete market assessment (year-on-year increase).

Market Overview and Dynamics

The global core molecular laboratory market was estimated at US$7.5 billion in 2021 and is projected to increase at a substantial growth rate of over 10.2%during the forecast period of 2022-2028. The rise in chronic diseases like heart disease, cancer and diabetes is driving the need for molecular diagnostics and personalized medical treatments.

Market Trends and Drivers in the Global Core Molecular Laboratory Market

Additionally, the development of cutting-edge sequencing technologies like the next-generation sequencing (NGS) and the expanding access to high-throughput screening technologies are pushing the core molecular laboratory market. These tools allow for quicker and more accurate molecular testing and analysis which results in better outcomes for patients.

North America is expected to lead the global core molecular laboratory market, mainly due to its well-established healthcare infrastructure, the large healthcare expenses, and the rising prevalence of chronic illnesses within the region.

Segmental Analysis

• On the basis of product, test kits own a significant share of the market due to ease of use, whereas the services market is expected to grow at a significant growth rate in the forthcoming years.

Competition Analysis

The global core molecular laboratory market is highly competitive and fragmented. The key players in the market are focusing on strategic collaborations, product launches, mergers and acquisitions, and technological innovation to expand their market presence.

• On January 2022, PathGroup, one of the largest providers of anatomic pathology, digital pathology, clinical and molecular laboratory services in the US, announced the acquisition of Pathology Consultants, a leading provider of pathology services based in Greenville, S.C. Together, PathGroup and Pathology Consultants will provide physicians and patients across the Southeast with superior quality and service levels for their comprehensive testing needs.

Some of the prominent players operating in the global core molecular laboratory market include Thermo Fisher Scientific, Illumina Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., BioMérieux S.A., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Agilent Technologies Inc., and F. Hoffmann-La Roche AG, among others.

For more information about this report: https://store.rationalstat.com/store/global-core-molecula...