North America Laboratory Developed Tests Market Size & Outlook
North America laboratory developed tests market, 2018-2030 (US$M)
Related Markets
North America laboratory developed tests market highlights
- The North America laboratory developed tests market generated a revenue of USD 4,639.6 million in 2023.
- The market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 4,639.6 million |
| Market revenue in 2030 | USD 7,538.9 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, North America region accounted for 37.5% of the global laboratory developed tests market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 6,481.1 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America laboratory developed tests market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 27.32% in 2023. Horizon Databook has segmented the North America laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
North America leads the global Laboratory-developed Tests (LDTs) in terms of revenue generation owing to increasing healthcare expenditure, prevalence of chronic diseases, geriatric population, and government funding. Moreover, the outbreak of coronavirus positively impacted the market.
The number of tests increased due to the outbreak of COVID-19 in response to increased demand for quick on-site screening. As a result, several companies are focusing on manufacturing and developing novel tests.
For instance, in September 2022, Allelica launched ancestry-specific Polygenic Risk Score (PRS) analysis as LDT for prostate cancer, coronary artery disease, breast cancer, Alzheimer’s disease, and type 2 diabetes. Furthermore, with the increasing prevalence of cancer and the rapid development of cancer diagnosis, the market is undergoing significant growth.
Reasons to subscribe to North America laboratory developed tests market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of North America laboratory developed tests market databook
-
Our clientele includes a mix of laboratory developed tests market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the North America laboratory developed tests market , including forecasts for subscribers. This continent databook contains high-level insights into North America laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
North America laboratory developed tests market size, by country, 2018-2030 (US$M)
North America Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
