North America Molecular Diagnostics Market worth $5.3 Bn by 2024

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According to the Graphical Research new growth forecast report titled “North America Molecular Diagnostics Market Size By Technology (Chips And Microarrays, PCR, In Situ Hybridization, Mass Spectrometry, Sequencing, Isothermal Amplification), By Application (Blood Screening, Infectious Disease, Genetic Testing, Oncology Testing), Industry Forecast, 2018 – 2024”, estimated to exceed USD 5.3 Billion By 2024.

Elderly people are more likely to suffer from several diseases due to anatomic and functional changes along with impaired immune system and will upsurge North America molecular diagnostics revenue size. As per the American Academy of Family Physicians (AAFP) one third of all deaths among elderly (aged above 65 years) result from infectious diseases. More than 60% of elderly patients are admitted for pneumonia and influenza and pneumonia are among leading causes of death in America, out of that 90% accounts for elderly population. Weakened immunity coupled with presence of other chronic conditions raises the risk of other complications in elderly population such as pneumonia will escalate North America molecular diagnostics market growth.

Increasing awareness regarding initial disease diagnosis will boost demand for molecular diagnosis devices used for various rare diseases. According to Global Genes, around 30 million people suffer from rare genetic diseases that will escalate the North America molecular diagnostics industry growth in foreseeable future. However, increasing costs of diagnostic devices will hamper the North America molecular diagnostics industry growth.

Genetic testing segment was valued at USD 464.7 million in 2017 and the segmental growth can be accounted to the growing incidences of genetic diseases. As reported by Global Genes, there are around 7000 different rare diseases detected in the U.S. population that upsurge the demand for molecular diagnostics thereby, should thereby, should positively impact segmental growth. Furthermore, demand for genetic testing will keep increasing in upcoming years from primary care physicians and genetics specialists as genes are revealed and new tests are introduced.

Sequencing segment will grow at 14.2% over the forecast period. Segmental growth will be associated with increasing application of sequencing devices to characterize cancer genomes. Subsequently, demand for sequencing will also grow due to additional benefits provided by sequencing technology such as, the devices provides massive screening of alternate mutation screening in numerous genes thereby, should elevate the business growth.

U.S. molecular diagnostics market accounted for 96.3% regional revenue share in 2017 due to the growing usage of PCR, next-generation sequencing, microarray, and fluorescent in situ-hybridization. Furthermore, shift in trends towards therapeutic areas such as women's health, oncology, infectious disease and HIV/STDs testing along with availability of reimbursement for diagnostic procedures will drive the business growth.

Some of the eminent industry players operating in the North America molecular diagnostics market include Abbott Molecular, Agilent (Dako), Alere, Analytik Jena, Becton Dickinson, Biomerieux, BioRad Laboratories, Cephied, Danaher, Johnson & Johnson, Roche Diagnostics and others. Key industry players implement strategic initiatives such as mergers and acquisitions that strengthens their market position. For instance, in October 2017, Company entered into partnership with HORIBA Medical to enhance its hematology product portfolio. According to the partnership, Siemens strong customer base will combine with Horiba’s innovative technology rendering competitive advantage to both the companies.

Segments we cover:

North America Molecular Diagnostics Market Statistics, By Application

  • Infectious disease
    • Flu
    • RSV virus
    • Tuberculosis
    • Meningitis
    • HIV market
    • Hepatitis C
    • Hepatitis B
    • HPV
    • STD
    • Dengue
    • H. pylori
    • TORCH
    • Others
  • Blood screening
  • Genetic testing
  • Oncology testing

North America Molecular Diagnostics Market Growth, By Technology

  • PCR
  • In situ hybridization
  • Chips and microarrays
  • Mass spectrometry
  • Sequencing
  • Isothermal amplification
  • Others

The above information is provided for the following countries:

  • U.S.
  • Canada