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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