North America Molecular Diagnostics Market Trends, Size, Share, Growth, Analysis, Forecast to 2030

The North America Molecular Diagnostics Market is expected to grow from US$ 8,056.48 million in 2022 to US$ 20,740.38 million by 2030. It is estimated to grow at a CAGR of 12.5% from 2022 to 2030.     

The North America molecular diagnostics market is experiencing significant growth, primarily fueled by the increasing development of new products and a rising demand for point-of-care testing. Point-of-care testing, a rapidly advancing field, offers solutions for a wide range of clinical evaluations, from blood glucose monitoring to sophisticated coagulation assays. By eliminating the delays associated with sample transportation and preparation, these tests empower healthcare professionals to make quicker decisions regarding further testing or treatment. This emerging healthcare approach is being rapidly adopted by both patients and healthcare providers. Point-of-care assays find extensive application in areas such as therapeutics, diagnostics, and patient monitoring. Furthermore, point-of-care products and services assist healthcare providers in meeting the growing patient preference for at-home medical care. The COVID-19 pandemic underscored the value of these solutions, enabling patients to undergo testing at home, thereby reducing the risk of infection by avoiding travel to healthcare facilities. Consequently, the increasing adoption of point-of-care testing is a significant driver for the North America Molecular Diagnostics Market.

North America Molecular Diagnostics Market Overview

The North America molecular diagnostics market, encompassing the US, Canada, and Mexico, is propelled by factors such as the increasing adoption of technologically advanced products, a surge in research and development activities, the strong presence of major healthcare corporations, and the expanding applications of molecular diagnostics. In 2022, the US accounted for the largest share of the North America molecular diagnostics market.

North America Molecular Diagnostics Market Segmentation

The North America molecular diagnostics market can be segmented based on disease area, technology, product and services, end user, and country.

• Disease Area: The market is divided into infectious diseases, oncology, genetic testing, cardiac diseases, immune system disorders, and others. In 2022, the infectious disease segment held the largest market share.
• Technology: The market is categorized into polymerase chain reaction (PCR), in situ hybridization, isothermal nucleic acid amplification technology (INAAT), DNA sequencing and next-generation sequencing (NGS), DNA microarrays, and others. The polymerase chain reaction (PCR) segment dominated the market share in 2022. The PCR segment is further sub-segmented into RT-PCR, qPCR, multiplex PCR, and other PCR techniques.
• Product and Services: This segment includes assays and kits, instruments, and services and software. The assays and kits segment held the largest market share in 2022.
• End User: The market is segmented into diagnostic laboratories, hospitals and clinics, research and academic institutes, and others. Diagnostic laboratories accounted for the largest market share in 2022.
• Country: The North America molecular diagnostics market is divided into the US, Canada, and Mexico. The US was the dominant market in North America in 2022.

Key players operating in the North America molecular diagnostics market include

Abbott Laboratories, Agilent Technologies Inc, Thermo Fisher Scientific Inc, F. Hoffmann-La Roche Ltd, Qiagen NV, bioMerieux SA, Illumina Inc, Danaher, Siemens Healthineers AG, Novartis AG, and TBG Diagnostics Limited.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights