North America Molecular Diagnostics Analysis Report 2024: Market to Reach $7.23 Billion by 2030, Driven by Early Disease Detection, External Funding, and Strategic Partnerships

DUBLIN, March 26, 2024 /PRNewswire/ -- The "North America Molecular Diagnostics Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents, Others), By Test Location, By Technology (PCR, ISH, INAAT, Sequencing), By Application, By Country, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.

The North America molecular diagnostics market size is expected to reach USD 7.23 billion by 2030, registering a CAGR of 4.2% from 2024 to 2030.

The introduction of technologically advanced products is expected to drive the market in North America. Advancements in molecular diagnostic technology enabled the early detection of numerous diseases and reduced the possibility of severe economic & social burdens. Molecular diagnostics enable early diagnosis of cancer, genetic disorders, and infectious diseases by using PCR, sequencing, & genetic technologies.

The rise in the prevalence of chronic & infectious diseases and genetic disorders, such as Alzheimer's disease, Turner syndrome, & Parkinson's disease, is expected to boost the market demand during the forecast period. According to the CDC, chronic diseases such as cancer & diabetes and chronic kidney & respiratory diseases are accountable for 7 in 10 deaths in the U.S. each year. Around 6 out of 10 adults are likely to suffer from a chronic disease in the U.S. In addition, the increasing incidence of diseases, such as influenza A & B, is projected to drive market growth. For instance, according to the CDC, in the flu season of 2021-2022, influenza was estimated to affect nine million people.

An increase in external funding to conduct clinical studies in molecular diagnostics is anticipated to fuel the market. Funding plays a significant role in the product development process. For instance, in April 2023, Promega Corporation announced to grant of USD 15,000 in 2023 in academic life sciences research using qPCR. Similarly, in June 2023, Accelerate Diagnostics, Inc. received USD 24 million to accelerate the development of Wave platform and novel rapid testing. Such initiatives are expected to encourage SMEs to be involved in the development of novel molecular diagnostic tests.

Key companies are making continuous efforts to launch new products in North America molecular diagnostics and gain a competitive edge by meeting the changing needs of buyers toward more advanced & efficient products. For instance, in November 2022, Cepheid, a Danaher subsidiary, launched Multiplex Vaginal Panel (MVP), a PCR test to detect various conditions, such as trichomoniasis, bacterial vaginosis, and vulvovaginal candidiasis.

Furthermore, increasing strategic partnerships among manufacturers and companies for developing novel therapeutics is anticipated to drive market growth. For instance, in February 2023, Thermo Fisher Scientific Inc.partnered with MyLab to procure RT-PCR kits for various infectious diseases, such as tuberculosis & HIV. Moreover, in January 2023, QIAGEN and Helix formed an exclusive alliance to enhance next-generation sequencing companion diagnostics in genetic disorders.

North America Molecular Diagnostics Market Report Highlights

• Based on the product, the reagents segment accounted for the largest revenue share of North America molecular diagnostics in 2023 owing to improved efficiency and cost-effectiveness
• The central laboratories segment dominated the North America molecular diagnostics in 2023 owing to high market penetration and large procedure volumes.
• Based on technology, the PCR segment dominated the North America molecular diagnostics in 2023 and is the most preferred technology amongst doctors and patients for clinical diagnostics
• The infectious disease segment led the application segment in 2023, attributable to North America's high incidence of infectious diseases.
• The U.S. dominated the regional market due to favorable reimbursement policies, the local presence of leading players, and the presence of well-established healthcare infrastructure.

Companies Featured

• BD
• Bio-Rad Laboratories, Inc.
• Abbott
• Agilent Technologies, Inc.
• Danaher
• Hologic Inc. (Gen Probe)
• Illumina, Inc.
• Johnson & Johnson Services, Inc.
• Thermo Fisher Scientific Inc.
• F. Hoffmann-La Roche, Ltd.

Key Topics Covered:

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Regional Scope
1.3. Estimates and Forecast Timeline
1.4. Objectives
1.5. Research Methodology
1.6. Information Procurement
1.7. Information or Data Analysis
1.8. Market Formulation & Validation
1.9. Model Details
1.10. List of Secondary Sources
1.11. List of Abbreviations

Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Product and Test Location Snapshot
2.3. Technology and Application Snapshot
2.4. Competitive Landscape Snapshot

Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increase in geriatric population
3.2.1.2. Introduction of technologically advanced products
3.2.1.3. Increase in demand for point-of-care testing
3.2.1.4. Growing prevalence of target diseases
3.2.1.5. Increasing external funding for R&D
3.2.2. Market Restraint Analysis
3.2.2.1. Presence of ambiguous regulatory framework
3.2.2.2. High prices of molecular diagnostics tests
3.3. Industry Analysis Tools
3.3.1. Porter's Five Forces Analysis
3.3.2. PESTEL Analysis
3.3.3. COVID-19 Impact Analysis

Chapter 4. North America Molecular Diagnostics Market: Product Business Analysis
4.1. North America Molecular Diagnostics Market: Product Movement Analysis
4.2. Instruments
4.2.1. Instruments Market, 2018 - 2030 (USD Million)
4.3. Reagents
4.4. Others

Chapter 5. North America Molecular Diagnostics Market: Test Location Business Analysis
5.1. North America Molecular Diagnostics Market: Test Location Movement Analysis
5.2. Point-of-Care
5.2.1. Point-of-Care Market, 2018 - 2030 (USD Million)
5.3. Self-test or Over the Counter
5.4. Central Laboratories

Chapter 6. North America Molecular Diagnostics Market: Technology Business Analysis
6.1. North America Molecular Diagnostics Market: Technology Movement Analysis
6.2. PCR
6.3. In Situ Hybridization (ISH)
6.4. Isothermal Nucleic Acid Amplification Technology (INAAT)
6.5. Chips and Microarrays
6.6. Mass Spectroscopy
6.7. Sequencing
6.8. Transcription Mediated Amplification (TMA)
6.9. Others
6.9.1. Others Market, 2018 - 2030 (USD Million)
6.9.2. Instruments
6.9.3. Reagents

Chapter 7. North America Molecular Diagnostics Market: Application Business Analysis
7.1. North America Molecular Diagnostics Market: Application Movement Analysis
7.2. Oncology
7.2.1. Oncology Market, 2018 - 2030 (USD Million)
7.2.2. Breast Cancer
7.2.3. Prostate Cancer
7.2.4. Colorectal Cancer Market, 2018 - 2030 (USD Million)
7.2.5. Cervical Cancer
7.2.6. Kidney Cancer
7.2.7. Liver Cancer Market, 2018 - 2030 (USD Million)
7.2.8. Blood Cancer
7.2.9. Lung Cancer
7.3. Pharmacogenomics
7.4. Infectious Diseases
7.4.1. Infectious Diseases Market, 2018 - 2030 (USD Million)
7.4.2. Methicillin-resistant Staphylococcus Aureus (MRSA)
7.4.3. Clostridium Difficile
7.4.4. Vancomycin-resistant Enterococci (VRE)
7.4.5. Carbapenem-resistant Bacteria
7.4.6. Flu
7.4.7. Candida Market, 2018 - 2030 (USD Million)
7.4.8. Tuberculosis and Drug-resistant TBA
7.4.9. Meningitis
7.4.10. Gastrointestinal Panel Testing
7.4.11. Chlamydia
7.4.12. Gonorrhea
7.4.13. HIV
7.4.14. Hepatitis C
7.4.15. Hepatitis B
7.5. Genetic Testing
7.5.1. Genetic Testing Market, 2018 - 2030 (USD Million)
7.5.2. Newborn Screening
7.5.3. Predictive and Presymptomatic Testing
7.6. Neurological Disease
7.7. Cardiovascular Disease
7.8. Microbiology

Chapter 8. North America Molecular Diagnostics Market: Country Business Analysis
8.1. North America
8.1.1. North America Molecular Diagnostics Market, 2018 - 2030 (USD Million)
8.1.2. U.S.
8.1.2.1. Key Country Dynamics
8.1.2.2. Target Disease Prevalence
8.1.2.3. Competitive Scenario
8.1.2.4. Regulatory Framework
8.1.2.5. U.S. Molecular Diagnostics Market, 2018 - 2030 (USD Million)
8.1.3. Canada

Chapter 9. North America Molecular Diagnostics Market: Competitive Landscape
8.1. Participant Categorization
9.1.1. Overview
9.1.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives

Chapter 10. Analyst View

For more information about this report visit https://www.researchandmarkets.com/r/87f9mz

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