U.S. Laboratory Developed Tests Market Size & Outlook
U.S. laboratory developed tests market, 2018-2030 (US$M)
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U.S. laboratory developed tests market highlights
- The U.S. laboratory developed tests market generated a revenue of USD 4,477.6 million in 2023 and is expected to reach USD 7,305.2 million by 2030.
- The U.S. 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.
Laboratory developed tests market data book summary
| Market revenue in 2023 | USD 4,477.6 million |
| Market revenue in 2030 | USD 7,305.2 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, U.S. accounted for 36.2% of the global laboratory developed tests market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. laboratory developed tests market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 7,305.2 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. 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 U.S. 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.
Several key market players operating in the LDT market are introducing new products and entering into several strategic alliances, which is contributing to the country’s market growth. For instance, in May 2022, Guardant Health launched its first blood-based test, Sheild, in the U.S., for Colorectal Cancer (CRC) detection at an early stage.
The test is intended for individuals aged 45 and older who are not updated with screening guidelines, exhibit no symptoms, and are at average risk for CRC. Similarly, in March 2020, LabCorp announced the availability of a coronavirus test that was expected to accelerate the screening process in the U.S.
Furthermore, in August 2018, Enzo Biochem announced the acquisition of a manufacturing & distribution unit to advance its therapeutic and diagnostic growth strategy. This expansion would facilitate the company’s efforts to obtain CE marking and FDA approval for its LDTs.
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Our clientele includes a mix of laboratory developed tests market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into U.S. laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. laboratory developed tests market size, by technology, 2018-2030 (US$M)
U.S. Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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