The global DNA diagnostics market is projected to witness significant growth, with sales estimated at USD 27,094.2 million in 2024 and anticipated to reach a remarkable USD 57,420.1 million by 2034. This growth represents a compound annual growth rate (CAGR) of 7.8% over the forecast period from 2024 to 2034. The revenue generated by the market in 2023 stood at USD 25,133.8 million, underscoring the sector’s dynamic potential.
A major factor fueling the expansion of the DNA diagnostics market is the dominance of instruments, which represent a majority share. These instruments are expected to grow at a rate exceeding 56.6% during the forecast period, positioning them as key drivers of market growth. Their crucial role in genetic analysis and testing processes makes them indispensable, further solidifying their leadership position within the sector.
The technologies utilized by DNA diagnostics instruments include nucleic acid extraction systems, microarrays, polymerase chain reaction (PCR), and sequencing platforms. These advanced tools enable precise identification of genetic variants associated with diseases, providing medical professionals with critical insights to guide patient care and therapeutic decisions. As a result, the global market for DNA diagnostics instruments is expected to continue its upward trajectory, contributing significantly to the overall market’s growth.
Key Takeaways
- The global DNA diagnostics market is projected to experience substantial growth, reaching USD 57.42 billion by 2034 from USD 27.09 billion in 2024, driven by a CAGR of 7.8%.
- North America, particularly the USA, dominates the market with an 82.3% share, though its growth rate is expected to be moderate at 4.8% CAGR.
- Germany’s market is anticipated to grow at a slower pace of 2.4% CAGR.
- China’s DNA diagnostics market is poised for significant expansion with a CAGR of 7.8%, indicating strong growth potential.
Increased Market Demand: Get In-Depth Analysis and Insights with Our Complete Report!
Competitive Landscape:
The DNA diagnostics market is diverse and highly competitive, shaped by factors such as technological advancements, regulatory frameworks, and evolving consumer preferences. Key players in this space include both established companies and emerging businesses focused on innovation and expanding their market share.
These companies offer a broad range of disease detection solutions catering to different needs and demographics. Many firms strategically form partnerships and collaborations to navigate complex regulatory challenges and capitalize on new opportunities. Academic institutions and research organizations also play a crucial role in driving technological advancements, often serving as pioneers in expanding the possibilities of DNA testing.
Recent Industry Developments in the DNA Diagnostics Market:
- In November 2023, Illumina launched an advanced liquid biopsy assay for comprehensive genomic profiling of solid tumors.
- In February 2022, Sysmex Corporation announced a capital and business alliance with KAINOS Laboratories, Inc., to enhance their development and production of diagnostic reagents in the immunochemistry field.
Key Players of DNA Diagnostics Industry:
- GE Healthcare
- Abbott
- Beckman Coulter Inc.
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- Cepheid.
- Hologic, Inc.
- Siemens Healthcare GmbH
- F. Hoffmann-La Roche
- QIAGEN
- Agilent Technologies Inc.
Key Segments of the DNA Diagnostics Industry:
By Product:
In terms of products, the industry is divided into Instruments, Reagents, and Software & Services
By Technology:
In terms of technology, the industry is segregated into PCR-based, Microarray-based, In-situ Hybridization-based, Sequencing Technology-based, and Mass Spectrometry-based.
By Application:
In terms of application, the industry is segregated into Oncology, Infectious Diseases Treatment, Myogenic Disorder Treatment, Clinical Diagnostic Confirmation, Prenatal, Pre-Implantation, and Other Applications. The oncology segment has been further segregated into Prostate Cancer, Breast Cancer, Colorectal Cancer, and Others.
The Infectious Diseases Treatment segment has been further segregated into Hepatitis B Virus, Hepatitis C Virus, HIV, TB, Chlamydia Trachomatic and Neisseria Gonorrhea (CT/NG), HPV, Methicillin-Resistant Staphylococcus Aureus (MRSA) and Others
By End-user:
The industry is classified by end-use industries as Point of Care, Diagnostic Centers, and Self-Testing/OTC.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube