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

According to this latest publication from Meticulous Research®, 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 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 opportunities for the players operating in the molecular diagnostics market. However, the lack of skilled professionals is a challenging factor for the market.