North America Molecular Diagnostics Market is expected to reach USD 7.2 billion by 2024. Molecular diagnostics is a branch of clinical pathology or laboratory medicine that uses techniques of molecular biology to diagnose disease, monitor the effectiveness of therapies, predict diseases course, and select therapy. North America molecular diagnostics industry is estimated to grow at a significant CAGR in the upcoming period as the scope and its applications are increasing enormously.
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The key driving factors responsible for the growth of North America
Molecular Diagnostics market :
The factors that are playing a
major role in the growth of North American molecular diagnostics market area
technological enhancement in molecular diagnostic kits and rising R&D
activities by manufacturers. North America molecular diagnostics market is
segmented based on product type, rest location, technology, application, and
region.
Reagents, instruments, and the
other product types could be explored in North American molecular diagnostics
in the forecast period. Reagents sector accounted for the significant market
share of North America molecular diagnostics and is estimated to continue with
its dominance in the years to come. The reason could be increasing use of these
tests in a nonmedical sector like home and molecular diagnostic sector.
Central laboratories,
point-of-care, self-test, and others could be explored in North America
molecular diagnostics in the forecast period. Central laboratories sector
accounted for the significant market share of North America molecular
diagnostics. The reason behind the overall market growth could be the presence
of ancillary support. In addition, the point-of-care sector is estimated to
grow at the highest CAGR in the years to come.
Based on technology,
transcription mediated amplification, polymerase chain reaction (PCR),
sequencing, in situ hybridization, mass spectrometry, isothermal nucleic acid
amplification technology (INAAT), chips and microarrays, and others could
classify North America molecular diagnostics in the forecast period. The
polymerase chain reaction (PCR) sector accounted for the significant market
share of North America molecular diagnostics and is estimated to lead the
overall market in the years to come. The reason could be high demand in
molecular diagnostics.
The market could be categorized
based on applications like microbiology, oncology, cardiovascular disease,
pharmacogenomics, neurological disease, infectious disease, genetic testing,
and others could be explored in the forecast period. Oncology sector accounted
for the substantial market share of North America molecular diagnostics and is
estimated to continue its dominance in the years to come. The reason could be
the rising occurrence of cancer and increasing enhanced diagnostic tests. The
sector is also estimated to grow at the highest CAGR in the years to come.
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