North America Molecular Diagnostics Market- 2030 Analysis with Focus on Opportunities, Development Strategy

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 Growing Demand for Point-of-Care Testing Drive the North America Molecular Diagnostics Market

Point-of-care testing is a rapidly evolving sector in medicine, expanding its analytical capabilities and clinical applications. Providers of point-of-care testing solutions offer products for a range of evaluations, from blood glucose monitoring to viscoelastic coagulation assays. By eliminating the need for sample transportation and preparation, these tests enable healthcare professionals to make quicker clinical decisions regarding further testing or therapy. As a result, point-of-care solutions are being increasingly adopted by both patients and healthcare providers.

These assays play a crucial role in therapeutics, diagnostics, and patient monitoring. Furthermore, point-of-care products and services support healthcare providers in addressing the growing demand for at-home medical care. Their importance was particularly highlighted during the COVID-19 pandemic, as they allowed patients to conduct tests at home, reducing the risk of infection by avoiding travel to healthcare facilities. Consequently, the rising demand for point-of-care testing is significantly contributing to the growth of the molecular diagnostics market.

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

• 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 America molecular diagnostics market is categorized into the US, Canada, and Mexico. Key factors driving market growth in the region include the increasing adoption of advanced technologies, rising research and development activities, the presence of major healthcare companies, and the expanding use of molecular diagnostics. In 2022, the US held the largest share of the North America molecular diagnostics market.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights