North America Molecular Diagnostics Market, Size, Segment and Growth by Forecast to 2030

The North America Molecular Diagnostics Market is poised for significant growth, with projections indicating an increase from US 8,056.48 million in 2022 to US 8,056.48 million in 2022 to US 20,740.38 million by 2030, reflecting a compound annual growth rate (CAGR) of 12.5% during the forecast period. This growth is driven by several factors, including the development of new products, advancements in technology, and the rising demand for point-of-care testing (POCT).

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞https://www.businessmarketinsights.com/sample/TIPRE00026717

Key Drivers of Market Growth:

  1. Point-of-Care Testing (POCT):
    • POCT is revolutionizing healthcare by enabling rapid diagnostics and treatment decisions at or near the patient’s location. This eliminates the need for sample transportation and reduces turnaround times, making it particularly valuable in critical care settings.
    • The COVID-19 pandemic accelerated the adoption of POCT, as it allowed patients to conduct tests at home, reducing the risk of infection and easing the burden on healthcare facilities.
    • POCT applications span diagnostics, therapeutics, and patient monitoring, with increasing demand for at-home medical care solutions.
  2. Technological Advancements:
    • The development of advanced molecular diagnostic technologies, such as polymerase chain reaction (PCR)next-generation sequencing (NGS), and isothermal nucleic acid amplification technology (INAAT), is fueling market growth.
    • PCR technology, particularly RT-PCR and qPCR, dominates the market due to its widespread use in infectious disease diagnostics, oncology, and genetic testing.
  3. Increasing Prevalence of Chronic and Infectious Diseases:
    • The rising burden of infectious diseases, cancer, and genetic disorders is driving demand for molecular diagnostics.
    • The infectious disease segment held the largest market share in 2022, largely due to the need for rapid and accurate diagnostics during the COVID-19 pandemic.
  4. Growing R&D Activities:
    • Increased investment in research and development by key market players and academic institutions is contributing to the introduction of innovative diagnostic solutions.

Market Segmentation:

The North America molecular diagnostics market is segmented based on disease areatechnologyproduct and servicesend user, and country.

  1. By Disease Area:
    • Infectious Diseases (largest segment in 2022)
    • Oncology
    • Genetic Testing
    • Cardiac Diseases
    • Immune System Disorders
    • Others
  2. By Technology:
    • Polymerase Chain Reaction (PCR) (largest segment in 2022)
      • RT-PCR
      • qPCR
      • Multiplex PCR
    • In Situ Hybridization
    • Isothermal Nucleic Acid Amplification Technology (INAAT)
    • DNA Sequencing and Next-Generation Sequencing (NGS)
    • DNA Microarrays
    • Others
  3. By Product and Services:
    • Assays and Kits (largest segment in 2022)
    • Instruments
    • Services and Software
  4. By End User:
    • Diagnostic Laboratories (largest segment in 2022)
    • Hospitals and Clinics
    • Research and Academic Institutes
    • Others
  5. By Country:
    • United States (dominated the market in 2022)
    • Canada
    • Mexico

Competitive Landscape:

The North America molecular diagnostics market is highly competitive, with key players focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Leading companies operating in the 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
  • TBG Diagnostics Limited

Future Outlook:

The North America molecular diagnostics market is expected to continue its robust growth trajectory, driven by the increasing adoption of advanced diagnostic technologies, the rising prevalence of chronic and infectious diseases, and the growing demand for personalized medicine. The shift toward decentralized testing and the expansion of at-home diagnostic solutions will further propel market growth in the coming years.

In summary, the North America molecular diagnostics market is set to experience substantial growth, with the US leading the region. The focus on innovation, coupled with the rising demand for rapid and accurate diagnostic solutions, will remain key drivers of this growth.

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:
Akshay
Senior Market Research Expert at Business Market Insights

Abhishek waydande
Author: Abhishek waydande

hi i am akshay

Abhishek waydande

hi i am akshay