How big is the Medical Diagnostics Market | Value & Future Trends 2025

Q: What is the market size of the medical diagnostics market?

It was valued at USD 66.4 Billion in 2024 and is projected to reach USD 104.7 Billion by 2031.

Q: What is the CAGR of the medical diagnostics market?

The medical diagnostics market is expected to grow at a CAGR of 6.7% from 2025 to 2031.

Q: What drives the medical diagnostics market?

Disease prevalence, demand for early diagnosis, and innovation in molecular and point-of-care diagnostics.

Q: What are common types of medical diagnostics?

Imaging (MRI, CT, X-ray), in vitro diagnostics (IVD), molecular testing, and point-of-care testing.

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Code: MTA7095

Publication Date: Jul 2025

How big is the Medical Diagnostics Market?

According to 6Wresearch internal database and industry insights, the Medical Diagnostics Market was valued at USD 66.4 Billion in 2024 and is projected to reach USD 104.7 Billion by 2031, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period of 2025–2031.

The market is expanding due to the increasing prevalence of chronic and infectious diseases, growing demand for early and accurate diagnosis, and rapid advancements in diagnostic technologies.

Key Growth Drivers of the Medical Diagnostics Market

Rising incidence of chronic conditions such as cancer, diabetes, and cardiovascular diseases
Technological advancements in molecular diagnostics and imaging techniques
Increased government funding and awareness programs for early disease detection
Expansion of point-of-care (POC) testing in remote and homecare settings
Growth in aging population and healthcare expenditure worldwide

Medical Diagnostics Market Trends

The medical diagnostics market is witnessing increased adoption of AI-powered diagnostic platforms, especially in radiology and pathology. Next-generation sequencing (NGS) and molecular diagnostics, such as PCR, are also becoming a trend in the screening of infectious diseases and genetic pathologies. The decentralization of testing, which occurs in the form of portable and wearable diagnostic devices, is on the increase. Further combination of diagnostic information with electronic health records (EHRs) and online medical practices is increasingly being observed. Moreover, the market of oncology testing is being disrupted by liquid biopsy and biomarker-based diagnostics tests.

Emerging Developments in the Medical Diagnostics Market

The Medical Diagnostics market is evolving with the development of multiplexed and real-time diagnostic platforms that allow simultaneous testing of multiple diseases. Business firms are working on cost-efficient enhanced and quick tests to be applied in a low resource environment. Tele-pathology and tele-diagnostic services are trending, especially in the rural areas. Lab-on-a-chip devices (through microfluidics) are appearing to have faster, smaller more compact diagnostics. Moreover, the regulatory bodies are promoting the use of companion diagnostics to help underpin precision medicine efforts.