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.
Development of New Products and Rising Demand for Point-of-Care Testing Drive Growth in North America’s Molecular Diagnostics Market
Point-of-care testing is rapidly transforming healthcare by providing quicker diagnostic results, reducing transportation and sample preparation time, and enabling immediate clinical decision-making. This evolving branch of medicine covers a wide range of tests, from blood glucose monitoring to viscoelastic coagulation assays. The growing adoption of point-of-care testing by patients and healthcare providers has significantly enhanced diagnostic efficiency and patient care.
These tests play a crucial role in various applications, including therapeutics, diagnostics, and patient monitoring. Additionally, point-of-care solutions help meet the increasing demand for at-home medical care, a trend that was further accelerated by the COVID-19 pandemic. During the pandemic, these tests allowed patients to conduct diagnostics from home, minimizing the risk of infection and reducing the burden on healthcare facilities. As a result, the rising adoption of point-of-care testing is a key driver fueling the molecular diagnostics market in North America.
Segmentation of the North America Molecular Diagnostics Market
The market is categorized based on disease area, technology, products and services, end users, and country.
- By Disease Area:
- Infectious Diseases (largest market share in 2022)
- Oncology
- Genetic Testing
- Cardiac Diseases
- Immune System Disorders
- Others
- By Technology:
- Polymerase Chain Reaction (PCR) (largest market share in 2022)
- Subsegments: RT-PCR, qPCR, Multiplex PCR, and Others
- In Situ Hybridization
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- DNA Sequencing and Next-Generation Sequencing (NGS)
- DNA Microarrays
- Others
- Polymerase Chain Reaction (PCR) (largest market share in 2022)
- By Products and Services:
- Assays and Kits (largest market share in 2022)
- Instruments
- Services and Software
- By End Users:
- Diagnostic Laboratories (largest market share in 2022)
- Hospitals and Clinics
- Research and Academic Institutes
- Others
- By Country:
- United States (dominant market in 2022)
- Canada
- Mexico
Key Players in the North America Molecular Diagnostics Market
Several leading companies drive the growth and innovation in the North American molecular diagnostics market, including:
- Abbott Laboratories
- Agilent Technologies Inc.
- Thermo Fisher Scientific Inc.
- F. Hoffmann-La Roche Ltd.
- Qiagen NV
- bioMérieux SA
- Illumina Inc.
- Danaher
- Siemens Healthineers AG
- Novartis AG
- TBG Diagnostics Limited
The ongoing advancements in molecular diagnostics, coupled with increasing demand for point-of-care solutions, position North America as a key player in this evolving market.
North America Molecular Diagnostics Market Overview
The North American molecular diagnostics market is segmented into the US, Canada, and Mexico. Several factors contribute to its growth, including advancements in technology, increasing research and development activities, the presence of major healthcare companies, and the widespread adoption of molecular diagnostics. In 2022, the US held the largest market share in this sector.
Market Revenue and Forecast (2022–2030)
The molecular diagnostics market in North America is projected to witness significant growth, driven by increasing demand for advanced diagnostic solutions and continuous innovation in the field.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
