Published Date: 2022-09-27
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North American In Vitro Diagnostics (IVD) Market size is predicted to cross USD 50 billion by 2028, according to a latest forecast report by Graphical Research.
Rising investments in immunodiagnostics, tissue diagnostics, hematology, and molecular diagnostics is fueling the market growth. Owing to the looming threat of contagious diseases such as monkeypox, the regional healthcare systems are making consistent efforts to diagnose them. Several regional hospitals, diagnostic centers, and standalone laboratories are updating their lab infrastructure for diagnosing patients with cancer, infectious diseases, kidney disorders, and heart disorders, among other conditions.
Introduction of easy-to-use and cost-effective products will push the industry forecast. Easier access to over-the-counter diagnostics, including glucose monitoring kits, is expected to become a key concern of public authorities. These products are primarily preferred by the elderly in order to reduce the frequency of hospital visits.
The North America in vitro diagnostics market share from the instruments segment accounted for USD 12 billion revenue in 2021. There is a surge in adoption of these units to diagnose chronic diseases, with expanding healthcare spending across the region. Lately, the inclination toward point-of-care in vitro diagnostics devices is rising, with patient footfall growing steadily since 2020. In March 2021, Roche introduced Cobas 5800, a fully automated low throughput PCR system to detect the presence of the novel coronavirus.
North America IVD market share from the molecular diagnostics segment will register a CAGR of 3% through 2028. The COVID-19 pandemic has been an accelerator for the molecular diagnostics market, wherein faster and more accurate detection of ongoing outbreaks is a key priority of regional stakeholders. To mitigate the escalating monkeypox outbreak in the U.S., the FDA is set to actively support commercial manufacturers to validate and develop both rapid molecular and lab-based molecular diagnostic tests for monkeypox. According to the Centers for Disease Control and Prevention (CDC), the total number of monkeypox cases in the United States crossed 22,630, as of September 2022.
From oncology applications segment will surpass USD 10 billion by 2028, with the increasing number of cancer cases in the region. As these tools help determine whether a person is at risk of developing a specific type of cancer, more clinics and practices are installing them. Presence of in-house equipment can enable physicians gain higher profits, while also improving patient outcomes. Growing acceptance and availability of home care kits such as fecal occult blood test (FOBT) for diagnosing colon cancer in homecare settings will further drive the industry forecast.
Browse detailed statistical insights from the report, “North America In Vitro Diagnostics (IVD) Market Forecast 2028 By End-Use (Hospitals, Diagnostic Laboratories, Academic & Research Institutes), By Product Type (Reagents & Kits, Instruments), By Test Type (Clinical Chemistry, Immunoassay/ Immunochemistry, Molecular Diagnostics, Hematology, Urinalysis), By Application (Oncology, Infectious Diseases, Diabetes, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing/Pharmacogenomics), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1033/north-america-in-vitro-diagnostics-market
The North America IVD market from hospital end-user segment was valued at USD 15 billion revenue in 2021, owing to expanding hospital infrastructure and the presence of well-established medical product companies. Patient preference for hospital pharmacies is on the rise, due to the availability of a variety of medication across these facilities.
Government entities are partnering with domestic manufacturers for addressing the needs of underserved patient segments. To cite an instance, recently, in September 2022, the U.S. government announced that it will distribute the Ellume at-home COVID-19 test kits specially designed for patients with blindness and other visual impairments.
Canada is anticipated to account for over 6% share of North American in vitro diagnostic (IVD) market by 2028. Presence of well-established healthcare facilities coupled with rising demand for lab testing during the COVID-19 pandemic will prove beneficial for the market players. Increasing cases of cancer in the nation are driving healthcare establishments to invest in latest testing kits, reagents, and diagnostic equipment. As per the Government of Canada, as of September 2022, the number of authorized COVID-19 testing devices crossed 130. The preference for serological testing devices is growing throughout the country.
The North American in vitro diagnostics market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
North America Market, By Product Type
North America Market, By Test Type
North America Market, By Application
North America Market, By End-user
The above information has been provided for the following countries:
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