United States Diagnostics Market to Witness a Growth of 5.17% During the Forecast Period
Increasing health care expenditure to drive the growth of the United States diagnostics market.
According to TechSci Research report, “United States Diagnostics Market By Product Type (Reagents, Instruments, Software & Services), By Type of Test (Infectious Disease Testing, Lipid Panel, Metabolic Panel, Others), By Technique (Immunodiagnostics, Clinical Techniques, Molecular Diagnostics, Tissue Diagnostics, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases (Human Papillomavirus, Hepatitis, Tuberculosis, Hospital-Acquired Infections, COVID-19), Cancer (Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Liver Cancer, Others), Sexually Transmitted Diseases (Chlamydia Trachomatis Infection, Gonorrhoea, Syphilis, Others), Others), By End User (Hospitals, Public labs, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Region, Forecast & Opportunities, 2026”, the United States diagnostics market stood at USD30.08billion in 2020 and is expected to grow at a steady rate of 5.17% during the forecast period on account of the changing lifestyle and dietary habits of the people. This has led to an increase in the prevalence of diseases such as cancer, diabetes, asthma, cardiovascular diseases, renal disorders, hypertension, among others. Statistics show that every year more than 1.5 million people die because of these diseases in the country. This has increased the demand for diagnostics in the country so that such diseases could be detected early, and the patients can get appropriate treatment. Additionally, growing number of accredited laboratories, point-of-care testing centers, hospitals, among others is expected to further fuel the market growth. Furthermore, increasing penetration of health insurance providers is expected to create lucrative opportunities for the market growth. However, dearth of skilled professionals in the laboratories might hamper the market growth through 2026. Additionally, need for high complexity testing centers might further restrict the market growth over the next few years. Also, high cost of tests and budget constraints might further hinder the market growth during the forecast period.
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The United States diagnostics market is segmented based on product type, type of test, technique, usability, application, end user, company and region. Based on type of test, the market can be segmented into infectious disease testing, lipid panel test, metabolic panel test and others. The infectious disease testing segment is expected to dominate the market in 2020 with a share of around 43.35% and will continue maintaining its dominance over the forecast period. A drastic increase in market share was observed in 2020 owing to the sudden outbreak and spread of COVID-19 in the country which significantly increased the testing. Additionally, United States witnesses prevalence of several other infectious diseases such as human papillomavirus, hepatitis, among others. Lipid panel tests are expected to witness significant growth during the forecast period owing to the increasing prevalence of cardiovascular diseases in the country. Based on technique, the market can be categorized into immunodiagnostics, clinical techniques, molecular diagnostics, tissue diagnostics and others. The immunodiagnostics technique held the highest market share and will continue maintaining its dominance over the forecast period owing to the widespread use of immunodiagnostic technique in infectious disease testing and identification of microbes, such as fungus, bacteria, and viruses, by detection of their toxins. Additionally, increasing prevalence of chronic diseases, such as HIV, and the introduction of instruments with higher accuracy are further expected to drive the market growth. While the tissue diagnostics and molecular diagnostics segments are expected to witness growth in the coming years owing to the increasing prevalence of different types of cancers across United States. Based on application, the market can be fragmented into infectious diseases, cancer, sexually transmitted diseases and others. The infectious disease segment dominated the market in 2020 and is expected to maintain its dominance over the forecast period owing to the prevalence of various infectious diseases in the United States. The spread of COVID-19 significantly increased the segmental shares in 2020. The cancer segment is expected to witness significant growth through 2026 owing to the increase in prevalence of various kinds of cancers in the country. Also, sexually transmitted diseases are expected to grow significantly in the future and witness growth, especially Chlamydia Trachomatis infection and Gonorrhoea.
Abbott Laboratories, Inc., Danaher Corporation, Thermo Fisher Scientific, Inc., Johnson & Johnson, Ortho-Clinical Diagnostics, Inc., Becton, Dickinson, and Company, Bio-Rad Laboratories, Inc., Roche Diagnostics Corporation, Siemens Medical Solutions USA, Inc., Biomerieux Inc. and others are some of the leading players operating in United States diagnostics market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. Cell-DYN Sapphire, CELL-DYN Ruby and CELL-DYN Emerald 22 AL are hematology analyzers developed by Abbott Laboratories, Inc. and the company has launched coronavirus tests which require m2000 Real Time PCR system. The emergence of COVID-19 led to the development of COVID-19 testing kits and PCR devices for diagnosis. For instance, the Bio-Rad Laboratories developed Platelia SARS-CoV-2 Total Ab Assay, which detects the total anti-nucleocapsid antibodies against coronavirus SARS-CoV-2 in 2020. The company also formulated Coronavirus Ag Rapid Test Cassette (Swab) and BioPlex 2200 SARA-CoV-2 IgG Panel.
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“United States diagnostics market is expected to witness steady growth during the forecast period on account of the increasing demand for personalized medicines and companion diagnostics. Additionally, technological advancements in the healthcare industry with the advent of AI, cloud computing, IoT, among others, is further expected to propel the market growth through 2026. Additionally, presence of major pharmaceutical & biotechnology giants in the country is further expected to create lucrative opportunities for the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Diagnostics Market By Product Type (Reagents, Instruments, Software & Services), By Type of Test (Infectious Disease Testing, Lipid Panel, Metabolic Panel, Others), By Technique (Immunodiagnostics, Clinical Techniques, Molecular Diagnostics, Tissue Diagnostics, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases (Human Papillomavirus, Hepatitis, Tuberculosis, Hospital-Acquired Infections, COVID-19), Cancer (Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Liver Cancer, Others), Sexually Transmitted Diseases (Chlamydia Trachomatis Infection, Gonorrhoea, Syphilis, Others), Others), By End User (Hospitals, Public labs, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Region, Forecast & Opportunities, 2026”, has evaluated the future growth potential of United States diagnostics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in United States diagnostics market.
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