Molecular Transport Medium Market Size

Molecular Transport Medium Market size was over USD 1.01 Billion in 2023 and is set to cross USD 1.16 Billion by the end of 2036, growing at more than 1.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of molecular transport medium is estimated at USD 1.02 Billion.The growth of the market can be attributed to the rising number of experiments at labs and research institutions. The world was being prepared for pandemics for a prolonged time where countless clinical trials were being conducted to develop treatment and diagnosis solution for infectious diseases. The percentage of research and development expenditure (in % GDP) was 2.63% in 2020, up from 2.13% in 2017. Government of various nation are spending notable sum on the development of molecular transportation medium since it is the best medium to gather medical samples without endangering the lives of healthcare providers.

In addition to these, global molecular transport medium market trends such as, rowing adoption of transport mediums for infectious disorders and rising awareness regarding the early detection of viral diseases compelling governments to initiate management measures to prevent outbreaks of these infections are further expected to influence the market growth positively over the forecast period. The U.S. funding for global health security for the fiscal year 2021 was estimated to reach approximately USD 10 billion up from around USD 1 billion in 2001-11. Also, additional funding was provided for the emergency outbreaks of Ebola and the Zika virus. Hence, all these factors are estimated to propel the market growth over the forecast period.