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Molecular Diagnostics Market worth $28.6 billion | MarketsandMarkets

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CHICAGO, July 3, 2023 /PRNewswire/ — The molecular diagnostics industry is poised to undergo significant advancements in the near future, fueled by rapid technological innovation and increasing demand for personalized healthcare. With the advent of next-generation sequencing (NGS) technologies, the field of molecular diagnostics is witnessing a revolution in terms of accuracy, speed, and cost-effectiveness. These advancements enable the identification and characterization of disease-causing genetic mutations with unprecedented precision, facilitating early and accurate diagnosis of various diseases, including cancer, infectious diseases, and genetic disorders. Furthermore, the integration of artificial intelligence (AI) and machine learning algorithms in data analysis and interpretation enhances the predictive capabilities of molecular diagnostics, enabling clinicians to make more informed decisions regarding patient treatment and prognosis. Additionally, the miniaturization of diagnostic devices and the emergence of point-of-care testing platforms allow for rapid and decentralized testing, improving access to molecular diagnostics in resource-limited settings. As a result, the molecular diagnostics industry is anticipated to transform healthcare delivery by providing personalized, precise, and timely diagnostic information, ultimately leading to improved patient outcomes and more efficient healthcare systems.
Molecular Diagnostics Market in terms of revenue was estimated to be worth $16.6 billion in 2023 and is poised to reach $28.6 billion by 2028, growing at a CAGR of 11.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. Due to the high prevalence of such infectious diseases, the demand for molecular diagnostic products and services is expected to increase in the coming years, which, in turn, will drive market growth. Also, globally, the prevalence of cancer has increased significantly over the last few years. The growing prevalence of cancer globally will increase the number of specimens tested, thus creating a demand for new diagnostic procedures, including molecular diagnostics.
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Browse in-depth TOC on “Molecular Diagnostics Market”238 – Tables49 – Figures319 – Pages
Molecular Diagnostics Market Scope:
Report Coverage
Details
Market Revenue in 2023
$16.6 billion
Estimated Value by 2028
$28.6 billion
Growth Rate
Poised to grow at a CAGR of 11.4%
Market Size Available for
2021–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & service, test type, sample type, technology, application, end user, and region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Growing significance of companion diagnostics in drug development process
Key Market Drivers
Rising technological advancements in molecular diagnostics in recent years
 
In 2022, the infectious disease diagnostics segment held the largest share of the molecular diagnostics market, by application segment
The molecular diagnostics market is segmented into infectious disease diagnostics, oncology testing, genetic testing, and other applications based on applications. The infectious disease diagnostics segment accounted for the largest share the global molecular diagnostics market in 2022. The large share of this segment can be attributed to the development of advanced assays for the diagnosis of different diseases & conditions, the increasing prevalence of infectious diseases, and rising awareness of the effective use of molecular diagnostic technologies/products to control the spread of infectious diseases. Infectious diseases pose a significant public health challenge, with outbreaks and epidemics occurring worldwide. The need for timely and accurate identification of infectious agents is paramount for implementing appropriate treatment strategies, infection control measures, and preventive interventions.
Diagnostic laboratories segment held the largest share of the molecular diagnostics market, by end user segment in 2022
The molecular diagnostics market is differentiated into diagnostic laboratories, hospitals & clinics, and other end users. In 2022, diagnostic laboratories dominated the molecular diagnostics market. Diagnostics laboratories play a crucial role in performing molecular diagnostic tests. These laboratories are equipped with specialized infrastructure, including advanced molecular testing platforms, equipment, and trained personnel. They are designed to handle complex molecular diagnostic procedures efficiently. The continuous advancements in molecular diagnostic technologies have expanded the capabilities of diagnostics laboratories. New platforms, such as next-generation sequencing (NGS), digital PCR, and microarrays, offer enhanced sensitivity, accuracy, and efficiency, enabling diagnostics laboratories to provide more comprehensive and precise testing services.
North America is the largest regional market for molecular diagnostics market
The molecular diagnostics market has been segmented into five major regions namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the molecular diagnostics market. The large share of North America in this market can be attributed to the increasing prevalence of infectious diseases and cancer, rising healthcare spending, and the growing healthcare system that is highly developed in the US and Canada.
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Molecular Diagnostics Market Dynamics:
Drivers:
Increasing prevalence of infectious diseases and cancer globallyRising focus on R&D and growing funding in molecular diagnostics by healthcare-based companiesGrowing awareness regarding early disease diagnosis in developing countriesRising technological advancements in molecular diagnostics in recent yearsIncreasing use of PoC diagnostic tests in homecare settings and hospitalsRestraints:
Unfavorable reimbursement scenario for diagnostic companiesHigh cost of molecular diagnostic instrumentsOpportunities:
Growing significance of companion diagnostics in drug development processIncreasing growth opportunities for molecular diagnostics companies in emerging economiesChallenges:
Changing regulatory landscape for IVD and molecular diagnostics in US and European UnionOperational barriers and shortage of skills across major marketsIntroduction of alternative technologies for disease detection and diagnosisKey Market Players:
The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Hologic, Inc. (US), Thermo Fisher Scientific Inc. (US), Abbott Laboratories (US), bioMérieux (France), QIAGEN (Netherlands), PerkinElmer Inc. (US), Myriad Genetics, Inc. (US), Siemens Healthineers AG (Germany), Danaher (US), Illumina, Inc. (US), Becton, Dickinson and Company (US), Grifols, S.A. (Spain), QuidelOrtho Corporation (US), Agilent Technologies, Inc. (US), DiaSorin S.p.A. (Italy), Exact Sciences Corporation (US), Genetic Signatures (Australia), MDx Health (Belgium), Biocartis (Belgium), TBG Diagnostics Limited (Australia), HTG Molecular Diagnostics, Inc. (US), Vela Diagnostics (Singapore), Amoy Diagnostics Co., Ltd. (China), ELITechGroup (France), Molbio Diagnostics Pvt. Ltd. (India), Savyon Diagnostics (Israel), Abacus Diagnostica Oy (Finland), and geneOmbio Technologies Pvt. Ltd. (India)
Recent Developments:
In February 2023, Thermo Fisher Scientific Inc. (US) acquired Binding Site Group (UK), a global leader in specialty diagnostics, to expand Thermo Fisher’s existing specialty diagnostics portfolio with the addition of pioneering innovation in diagnostics and monitoring for multiple myeloma.In October 2022, F. Hoffmann-La Roche Ltd. (Switzerland) received 510(k) clearance from the US FDA for the cobas SARS-CoV-2 Qualitative PCR test for use on the fully automated cobas 6800 and cobas 8800 Systems.In May 2022, F. Hoffmann-La Roche Ltd. (Switzerland) partnered with Global Fund to support low- and middle-income countries in strengthening critical diagnostics infrastructure.In December 2021, Hologic, Inc. (US) launched Panther Trax for high-volume molecular testing.In March 2021, Abbott Laboratories (US) received Emergency Use Authorization (EUA) from the FDA for a laboratory PCR assay, Alinity m Resp-4-Plex molecular assay, that detects and differentiates between SARS-COV-2, flu A, flu B, and RSV in one test.Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=833
Molecular Diagnostics Market Advantages:
Accuracy and Precision: Molecular diagnostics provide highly accurate and precise results, enabling early detection, diagnosis, and monitoring of diseases. This accuracy allows for timely intervention and treatment planning, leading to improved patient outcomes and reduced healthcare costs.Personalized Medicine: Molecular diagnostics offer a personalized approach to healthcare by analyzing an individual’s genetic profile. This enables tailored treatment plans based on specific genetic markers and mutations, maximizing therapeutic efficacy while minimizing adverse effects.Infectious Disease Management: Molecular diagnostics play a crucial role in infectious disease management by enabling rapid and sensitive detection of pathogens. This facilitates early identification, containment, and prevention of outbreaks, leading to improved public health outcomes.Cancer Diagnosis and Monitoring: Molecular diagnostics are instrumental in cancer diagnosis and monitoring. They enable the identification of specific genetic mutations, guiding targeted therapies and improving patient outcomes.Automation and User-Friendly Platforms: Advancements in technology have led to the development of user-friendly, automated platforms for molecular diagnostics. This allows for faster and easier testing, reducing the reliance on specialized laboratory personnel and increasing accessibility.Integration with Technology: Molecular diagnostics can be integrated with other healthcare technologies such as artificial intelligence and big data analytics. This integration enhances data interpretation, predictive modeling, and facilitates the implementation of precision medicine approaches.Potential for Advancing Healthcare Systems: The advantages of molecular diagnostics have the potential to significantly improve patient care, optimize treatment outcomes, and advance healthcare systems by providing more accurate and personalized diagnostic information.Molecular Diagnostics Market – Report Highlights:
More Refined Presentation of the Competitive Landscape and Recent Market Developments: We have added market shares for top players. Recent developments are helpful to know the market trends and growth strategies adopted by players in the market. The report provides updated developments in product launches, collaboration, acquisitions, and partnerships.Additional Information: The current edition of the report covers recession impact analysis. Also, a new segment, sample type, has been added.More Refined Presentation of the Company Profiles Segment: Company profiles give a glimpse of the key players in the market with respect to business overviews, financials, product offerings, and recent developments. The new edition of the report provides an updated product portfolio of the companies profiled in the report. A total of 29 companies have been profiled. These companies have emerged as key market players in recent years due to the products they offer, and various strategic investments undertaken in the molecular diagnostics market space.Newer and Improved Representation of Financial Information: The new edition of the report provides updated financial information in the context of the molecular diagnostics market until 2022 (depending on availability) for each listed company. This will help analyze the present status of the profiled companies in terms of their financial strength, profitability, key revenue-generating country/region, business segment focus in terms of the highest revenue-generating segments, and investments in research and development activities.Recent Market Developments: Recent developments are important to understand the market trends and growth strategies adopted by players operating in the global molecular diagnostics market. The current edition of this report provides updated developments of profiled players from January 2020 to May 2023, indicating a continuation of the previous version. Product launches and acquisitions are the principal growth strategies adopted by market players in this period.Related Reports:
Point of Care Molecular Diagnostics Market – Global Forecasts to 2028
In Vitro Diagnostics Market – Global Forecasts to 2027
Infectious Disease Diagnostics Market – Global Forecasts to 2027
Immunoassay Market – Global Forecasts to 2027
Immunofluorescence Assay Market – Global Forecasts to 2027
About MarketsandMarkets™:
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Saviynt Appoints James Ross as RVP-ANZ to Strategically Accelerate Growth in the Australia and New Zealand Region

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LOS ANGELES, May 22, 2024 /PRNewswire/ — Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced the appointment of James Ross as RVP-ANZ as the company has seen rapid growth in the Australia and New Zealand (ANZ) region, with double digit growth year over year.

Saviynt has solidified its position as a key player in the cloud identity security landscape with its Identity Cloud. The company’s continued focus on innovation and client satisfaction has contributed significantly to building a safer Australia with prominent customers across the energy and utilities, finance, retail, energy, and transport and logistics sectors.
“James’ appointment as the Regional Vice President (RVP) for ANZ marks a strategic move to accelerate growth and solidify market presence in the region,” said Dan Mountstephen, SVP APAC at Saviynt. “With a proven track record of dynamic leadership at Collibra, ForgeRock, and CA Technologies, James brings a wealth of experience and expertise to the role. His visionary approach and collaborative spirit are poised to inspire and mobilize teams toward ambitious targets.”
Saviynt has consistently expanded its client base and deepened its relationships with existing customers through customized solutions and unparalleled support, cementing its reputation as a trusted partner in the region’s cybersecurity ecosystem. As RVP ANZ, Ross is set to foster key partnerships and implement agile strategies to propel the company towards new heights of success in the dynamic ANZ market.
“Joining Saviynt excites me because it’s an opportunity to help more organizations simplify their identity ecosystem in order to drive efficiencies and improved security posture. I am committed to leveraging Saviynt’s cutting-edge solutions to continue to broaden our partnerships in the region to improve our accessibility for customers, strengthen our regional delivery, whilst continuing to provide a great customer experience,” said Ross.
To learn more about Saviynt, please visit our website.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt’s cutting-edge solutions have been recognized as industry leaders. For more information, please visit www.saviynt.com.
Press Contact
Jacklyn [email protected]
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Appdome Sweeps Cybersecurity Excellence Awards

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Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.

“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense:  The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance:  Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met.   Mobile Application Security:  With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website  https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation

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Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers          Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation          32% of professionals in finance have seen whistleblowers victimized behind their back or to their faceJACKSONVILLE, Fla., May 21, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.

Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “‘might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:           
59% have seen whistleblowers subsequently left out of important decisions           33% have seen whistleblowers moved to a different team           32% have heard whistleblowers called derogatory names behind their backs or directly to their faceWhen asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch”, said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”  
Jennifer Griffith, whistleblower who was called a “traitor”, said: “Choosing to blow the whistle involves more than just the desire to right a wrong.  It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it.  It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat”, said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
Georgina Hallford-Hall, CEO of Whistleblowers UK, said: “Too many organisations talk the talk but fail to engage with whistleblowers often at great cost to both. Technology used properly can remove the fear that both organisations and whistleblowers have about dealing with whistleblowing because it removes the person and focuses on the concerns or malfeasance. WhistleblowersUK are calling on the UK government to introduce an Independent Office of the Whistleblower to protect everyone from discrimination setting standards that end stigmatisation and discrimination making it safe to speak up.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
Notes to Editor
Methodology
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 – 05/07/24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
For more information, please contact: 
Fight or Flight for [email protected] / +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
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