Oncology Segment has the Largest Share of Type in the North America Molecular Diagnostics Market during 2020–2028
According to The Insight Partners market research study on “North America Molecular Diagnostics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Disease Area, Technology, Type, Product and Services, and End User” is expected to reach US$ 16,261.41million by 2028 from US$ 7,188.09million in 2021. The market is estimated to grow at a CAGR of 12.4% from 2021 to 2028. The report provides trends prevailing in the North America Molecular Diagnostics market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase in Demand for Point-of-Care and Developments by Market Players are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to limitations associated the Molecular Testing.
The North American region is highly affected due to the outbreak of the Covid-19 pandemic. Countries such as the US and Canada reported the highest numbers of COVID-19 positive cases. The US-registered highest number of deaths due to the COVID-19 pandemic. The chaotic situation was created in the medical industry across the countries, increased the demand for diagnosing and therapeutic devices have dramatically increased in the hospitals. For instance, the demand for ventilators, respirators, and in vitro diagnostic (IVD) tests has risen drastically in hospitals across the countries. On the other hand, demand for personal protective kits has significantly gone up. The life sciences segment thrives due to increased demand for in-vitro diagnostic products and rising research and development activities worldwide.
The North America molecular diagnostics market is segmented on the basis of disease area, technology, type, product and services, and end user. By disease area, the market is segmented into oncology, infectious disease, genetic testing, cardiac diseases, immune system disorders, and others. The infectious diseases segment held the largest share of the market in 2021; however, the oncology segment is anticipated to register the highest CAGR in the market during the forecast period.
Abbott, Agilent Technologies, Inc. Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., TBG Diagnostics Limited, QIAGEN, bioMérieux SA, Siemens Healthiness AG, Illumina, Inc., and Danaher, Novartis AG. are among the leading companies in the North America Molecular Diagnostics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for North America Molecular Diagnostics market is segmented into disease area, technology, type, product and services and end user. Based on Disease Area, the North America Molecular Diagnostics market is segmented into Infectious Disease, Oncology, Genetic Testing, Cardiac Diseases, Immune System Disorders, Others. Based on Technology, the North America Molecular Diagnostics market is segmented into Polymerase Chain Reaction (PCR),In Situ Hybridization, Isothermal Nucleic Acid Amplification Technology (INAAT),DNA Sequencing and Next-Generation Sequencing (NGS),DNA Microarrays, Others. Based on Type, the North America Molecular Diagnostics market is segmented into RT-PCR, qPCR, Multiplex PCR, and Others. Based on Product & Services the North America Molecular Diagnostics market is segmented into Assays and Kits ,Instruments ,Services and Software, further Based on End User the North America Molecular Diagnostics market is segmented into Diagnostic Laboratories ,Hospitals and Clinics ,Research and Academic Institutes ,and Others. Regionally, the North America Molecular Diagnostics market is segmented into (US, Canada, and Mexico.).
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