The global molecular diagnostics market was valued at USD 8.01 billion in 2017 and is expected to grow significantly, reaching USD 22.51 billion by 2032, with a compound annual growth rate (CAGR) of 7.1% during the forecast period. In 2017, North America led the global market, accounting for a dominant share of 45.44%.
Over the past decade, molecular diagnostics has emerged as a cutting-edge approach, enabling faster and more accurate disease diagnosis with minimal complexities. This methodology has seen particularly high demand in the diagnosis of infectious diseases, solidifying its position as a key tool in modern healthcare.
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In March 2021, Roche entered into a merger agreement to fully acquire GenMark Diagnostics. This strategic acquisition enables Roche to integrate GenMark’s syndromic panel testing portfolio into its existing molecular diagnostics portfolio. This move not only enhances Roche’s capabilities but also aligns with the growing demand for advanced diagnostic technologies in healthcare.