U.S. Molecular Diagnostics Market

U.S. Molecular Diagnostics Market Size (2023 to 2028)

The molecular diagnostics market in the United States is forecasted to grow at a CAGR of 10.4% between 2023 and 2028.

The growing adoption of Molecular Diagnostics (MDx) for infectious diseases like influenza, hepatitis, HPV, HIV, and tuberculosis drives the U.S. Molecular Diagnostics Market during the forecast period. In addition, the growth in the aged population year by year is boosting the market. For instance, according to World Health Organisation, the average person's life expectancy was increased to 80 years, due to which the senior population is increasing. As aged people are apt to get a chronic illnesses, the United States witnessed a gradual increase in chronic diseases like diabetes, cancer, cardiovascular diseases, etc.

Moreover, a rising number of new solutions for cancer diagnostics and the increasing acceptance and awareness of personalized medicines among people are boosting the market. As a result, the diagnosis had become much cheaper and more accurate due to advancements in molecular techniques fueling the United States Molecular Diagnostics Market. In addition, the increase in demand for portable devices is encouraging the growth of the U.S. Molecular Diagnostics Market. 

The new molecular diagnostic tests' approval is delayed, a major restrain for the U.S. Molecular Diagnostics Market. Furthermore, due to poor reimbursement policies, the United States molecular diagnostic market for group A streptococcus (GAS) nucleic acid (N.A.) tests is being obstructed. In addition, the stringent regulatory requirements for new molecular diagnostic techniques and the rapid mutation of microbes hinder the growth of the U.S. Molecular Diagnostics Market. Moreover, the rising costs for the diagnostics of diseases like oncology and neurology are estimated to hinder the U.S. Molecular Diagnostics Market growth during the forecast period. Further, the lack of skilled professionals in the united states is limiting the extension of the market. 

COVID-19 Impact on U.S. Molecular Diagnostics Market:

The United States Molecular Diagnostics Market was positively affected during the pandemic. The expansion in respiratory diagnostic tests and the growth in demand for infectious disease tests, especially respiratory tests, have gradually increased during the pandemic. Moreover, due to the high number of COVID-19 cases in the United States, accurate and rapid diagnostic techniques are needed to screen, isolate, treat, prevent, and monitor COVID-19. These are factors that greatly influenced the market during the pandemic.

This research report on the U.S. molecular diagnostics market has been segmented and sub-segmented into the following categories.

By Products and Service:

• Reagents and kits
• Instruments
• Software and service

By Technology:

• Polymerase Chain Reaction (PCR)
• Isothermal Nucleic Acid Amplification Technology (INAAT)3.
• DNA Sequencing and NGS
• DNA Microarrays
• In Situ Hybridization
• Other Technologies

By End-User:

• Hospital and Academic Laboratories
• Reference Laboratories
• Other End-Users

By Country:

• United States

Geographically, the United States held the largest revenue share in 2019 and is expected to be the major contributor to the North American Molecular Diagnostics Market during the forecast period. As a result, the United States Molecular Diagnostics Market is estimated to have tremendous growth during the forecast period. The increasing partnerships between pharmaceutical companies to develop safe diagnostics drive the U.S. molecular diagnostics market. In addition, the rising number of infectious diseases and cancer cases boosts the market growth. For instance, according to the American Cancer Society, more than 1,76,000 were affected by cancer in the United States, and approximately 606,000 people died in 2019.

Moreover, the new regulatory strategies for NGS tests by FDA propel the U.S. Molecular Diagnostics Market. Also, the rising geriatric population, increasing technological advancements, and the U.S. government's initiatives, like increasing investments and funds, are boosting the market growth. Also, the presence of many market players in this region is fueling the growth of the U.S. Molecular Diagnostics Market.

KEY MARKET PARTICIPANTS:

Companies such as Abbott Laboratories, Agilent Technologies, Becton, Dickinson And Company, Biomérieux SA, Danaher Corporation, Diasorin, Grifols, Hologic, Illumina, Qiagen, Roche Diagnostics, Siemens Healthineers, Thermo Fisher Scientific are some of the notable companies operating in the U.S. molecular diagnostics market.