North America Molecular Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Molecular Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Molecular diagnostics is considered to be the best method to identify and characterize a microorganism. The market is mainly driven by increasing demand for point-of-care diagnostics, recent advancements in pharmacogenomics and large outbreaks of bacterial and viral epidemics. The molecular diagnostics test must be precise, rapid, and also be able to measure the infectious burden. Better testing quickly identifies the organism’s strain and drug susceptibility, thus, reducing the delay in finding the right antibiotic. Molecular diagnostics has played a vital role in changing the face of disease diagnostics and assuring speedy detection and accurate care for critically ill patients. The increase in the number of infectious diseases and cancer cases in the United States have led to a shift in trend from the traditional diagnostic methods to molecular diagnostics. The identification of these diseases at an early stage has become easy using molecular tests, coupled with pharmacogenomics, which is expected to fuel the market growth.

Key Market TrendsOncology Segment is Expected to Show Better Growth in the Forecast Years

Based on Application, the market is segmented into infectious disease, oncology, pharmacogenomics, microbiology, genetic disease screening, human leukocyte antigen typing and blood screening. Oncology deals with the diagnosis and treatment of tumors and cancers. The high growth of the segment is attributed to rising burden of various types of cancer. Cancer is one of the leading causes of morbidity and mortality. According to the American Cancer Society, in the United States 1,762,450 new cancer cases and 606,880 cancer deaths were estimated for 2019 alone. Thus, with the increasing burden of cancer and rising awareness among people for early detection of cancer is estimated to enhance the usage of molecular diagnostic in the forecast period.

Competitive Landscape

The international players in the market studied include Abbott Laboratories, Agilent Technologies, Becton, Dickinson And Company, Danaher Corporation (Cepheid Inc), EXACT Sciences Corporation, F. Hoffmann-la Roche Ltd, Hologic Corporation, Illumina, Inc, Myriad Genetics, Inc, and Qiagen. The market is moderately competitive and major share of the market is grabbed by the global companies as North America is one of the most developed region for such companies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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