The Asia Pacific region is also expected to be the fastest growing market as many developing economies like South Korea India and China are emerging as major destinations for outsourcing the drug manufacturing, pathology testing and for clinical trials. The European market is expected to be the second largest market due to the availability of funding and government support for research and development in life sciences sector. Introduction of new health care facilities and growing geriatric population is also driving the market. As there's an increased funding for research and development activities in North America the molecular diagnostics market is expected to grow. The cases of tuberculosis in this nation are increasing every year which leads to an increase in hospitalization. increasing interactions between the research institutes, hospitals and the government is leading the growth in the market did increasing prevalence of chronic infectious diseases in the United States which is coupled with the increase in the health care spending by the people of America will propel the molecular diagnostics market. In the forthcoming years the molecular diagnostics market in the North American region shall grow well due to the presence of well-developed health care facilities and the availability of various treatment options after the proper diagnosis of diseases. The molecular diagnostics market is expected to have the largest market share in the North American region.
By application, the infectious disease segment has reached 47% market share in 2021.By product type, the reagent segment has held 61% market share in 2021.14, 2022 (GLOBE NEWSWIRE) - Precedence Research, Recently Published Report on “ Molecular Diagnostics Market (By Product By Test Location By Technology By Application By End User) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.
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