North America Molecular Diagnostics Market Size & Outlook
North America molecular diagnostics market, 2018-2030 (US$M)
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North America molecular diagnostics market highlights
- The North America molecular diagnostics market generated a revenue of USD 19,667.3 million in 2023.
- The market is expected to grow at a CAGR of -11.4% from 2024 to 2030.
- In terms of segment, outpatient facilities was the largest revenue generating end use in 2023.
- Home Care is the most lucrative end use segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 19,667.3 million |
| Market revenue in 2030 | USD 8,451.2 million |
| Growth rate | -11.4% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | Home Care |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hospitals, Outpatient Facilities, Home Care |
| Key market players worldwide | Becton Dickinson & Co, BioMerieux SA, Bio-Rad Laboratories Inc, Abbott Laboratories, Agilent Technologies Inc, Danaher Corp, Hologic Inc, Illumina Inc, Grifols SA Ordinary Shares - Class A, Qiagen NV, Roche Holding AG, Siemens Healthineers AG ADR, Sysmex Corp |
Other key industry trends
- In terms of revenue, North America region accounted for 40.2% of the global molecular diagnostics market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 1,082.9 million by 2030.
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Molecular Diagnostics Market Scope
Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America molecular diagnostics 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 molecular diagnostics market will help companies and investors design strategic landscapes.
Outpatient facilities was the largest segment with a revenue share of 47% in 2023. Horizon Databook has segmented the North America molecular diagnostics market based on hospitals, outpatient facilities, home care covering the revenue growth of each sub-segment from 2018 to 2030.
North America is the largest region in the global market, owing to the increasing adoption of molecular diagnostics due to its high accuracy, sensitivity, and specificity. The increasing requirement of genetic testing for personalized healthcare in disease areas, such as diabetes and cancers, is expected to drive market growth.
There has been an increase in strategic partnerships between major pharmaceuticals & molecular diagnostics companies to develop companion diagnostics, thus creating lucrative opportunities in this region. The tests can help healthcare professionals identify patients with a germline BRCA mutation in metastatic pancreatic cancer for Lynparza treatment.
Myriad Genetics, with its partners AstraZeneca and Merck, developed various companion diagnostic tests for ovarian, breast, and other cancers. In addition, in August 2021, to set a new standard in automation for infectious disease molecular testing in core laboratories and other centralized laboratories in the U.S.
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Our clientele includes a mix of molecular diagnostics market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America molecular diagnostics market , including forecasts for subscribers. This continent databook contains high-level insights into North America molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America molecular diagnostics market size, by country, 2018-2030 (US$M)
North America Molecular Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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