Europe Molecular Diagnostics Market to be Worth $13.25 Billion by 2030

Europe Molecular Diagnostics Market by Product (Reagents & Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, INAAT, Sequencing, Microarray), Application (Infectious Diseases, Oncology), End User (Hospital, Diagnostic Lab) – Forecast to 2030

The Europe Molecular Diagnostics Market is projected to reach $13.25 billion by 2030, at a CAGR of 4% from 2024 to 2030. The growth of this market is driven by factors such as technological advancements in molecular diagnostics, the increasing use of PoC diagnostic tests, an increase in funding for the R&D of diagnostic products, the rising geriatric population, and the increasing prevalence of target diseases. However, unfavorable regulatory framework and cost of molecular diagnostic tests hamper the growth of this market to a notable extent. Additionally, developments in companion diagnostics are expected to offer significant growth opportunities for the players operating in the molecular diagnostics market. However, the dearth of skilled professionals is a challenging factor for the market.