North America In-Vitro Diagnostics Market is expected to reach US$ 78,479.05 million by 2030

Publisher: The Insight Partners

Immunoassay/Immunochemistry Held Largest Share of Technology Segment in North America In-Vitro Diagnostics Market During 2022–2030

According to our new research study on “North America In-Vitro Diagnostics Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Product and Services, Technology, Application, and End User,” the North America in-vitro diagnostics market size is expected to grow from US$ 56,890.44 million in 2022 to US$ 78,479.05 million by 2030; it is estimated to register a CAGR of 4.1% during the forecast period. Key factors driving the North America in-vitro diagnostics market growth include the increasing incidence of chronic and infectious diseases and rising demand during COVID-19 pandemic.
 
Based on technology, the North America in-vitro diagnostics market is segmented into immunoassay/immunochemistry, clinical chemistry, molecular diagnostics, microbiology, blood glucose self-monitoring, coagulation and hemostasis, hematology, urinalysis, and others. The immunoassay/ immunochemistry segment held the largest share of the market in 2022. However, the molecular diagnostics segment is anticipated to register the highest CAGR in the North America in-vitro diagnostics market during the forecast period. Immunochemistry is a study of functions and production of components, such as toxins, epitopes, antitoxins, cytokines, antigens, and antibodies, involved in the immune system. Moreover, immunochemistry deals with the identification of specific antigens in healthy or diseased tissues with the help of processed monoclonal or polyclonal antibodies. Immunochemistry is also recommended to predict the possibility of cancer, muscular, and neurodegenerative disorders. Hence, it plays a vital role in early disease detection and treatment decision making. Moreover, over a period of time, several techniques such as immunoblotting, enzyme-linked immunosorbent assay, immunophenotyping, cyflometry, and immunochromatographic assay have been developed to perform the procedures. Apart from the treatment perspective, immunoassays are also used in therapeutic drug monitoring, bioequivalence studies, and clinical pharmacokinetics. Rapidly growing incidence of infectious and noncommunicable diseases fuels the adoption of immunochemistry.

Impact of COVID-19 Pandemic on North America In-Vitro Diagnostics Market

The COVID-19 pandemic led to a huge demand for in-vitro diagnostics and rapid tests. Thus, the demand for RT-PCR procedures, assays, kits, and reagents rose at an exponential pace in 2020 and 2021, as these diagnostic technologies offer results in less time. With this, various companies in the medical industry shifted their focus to developing and commercializing molecular diagnostics and testing solutions. Modifications made by the US FDA in approval procedures in February 2020 resulted in the expedition of the launch of diagnostics solutions. Companies in North America received Emergency Use Authorization (EUA) certificates from the US Food and Drug Administration (FDA). Therefore, more than 70 companies commercialized their serological tests for use in North American countries.

According to Medical Technology Report 2020, published by EYGM Limited, ~448 COVID-19-related diagnostics tests were launched in the market as of August 2020. In addition, 232 tests focused on the in-vitro detection of the viral antigen, while 148 focused on antibody detection; 219 out of 448 diagnostics received FDA approval. 155 of these 219 tests were based on molecular diagnostics (PCR), and 39 tests were based on serology. Commercial effectiveness, flexibility of operations, and innovation were the major aspects that gave these companies a competitive edge. The North America in-vitro diagnostics market is growing significantly post-COVID-19 due to innovations such as remote collection abilities and digital pathology. Thus, with these developments, the North America in-vitro diagnostics market grew notably during the COVID-19 pandemic. 

Abbott Laboratories, F. Hoffmann-La Roche Ltd, Danaher Corp, Siemens AG, Sysmex Corp, Thermo Fisher Scientific Inc, Becton Dickinson and Co, bioMerieux SA, Bio-Rad Laboratories Inc, and Qiagen NV are among the leading companies operating in the North America in-vitro diagnostics market. 

Based on product and services, the North America in-vitro diagnostics market is segmented into reagents and kits, instruments, and software and services. In terms of technology, the market is segmented into immunoassay/immunochemistry, clinical chemistry, molecular diagnostics, microbiology, blood glucose self-monitoring, coagulation and hemostasis, hematology, urinalysis, and others. The North America in-vitro diagnostics market, by application, is segmented into infectious diseases, diabetes, oncology, cardiology, autoimmune diseases, nephrology, and others. Based on end user, the North America in-vitro diagnostics market is segmented into hospitals, laboratories, home care, and others. By country, the North America in-vitro diagnostics market is segmented into the US, Canada, and Mexico.

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