Meticulous Research® has released an insightful report titled, “North American molecular diagnostics market by Product (Reagents & Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (Infectious Diseases, Oncology, Neurological), End User—Forecast to 2030.” The North American molecular diagnostics market is projected to reach $18.13 billion by 2030, growing at a CAGR of 5.3% from 2023 to 2030.
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Drivers of Market Growth
Key drivers include the increasing elderly population, the rise in communicable and non-communicable diseases, advancements in molecular diagnostic technologies, and rising healthcare expenditures. However, regulatory challenges and high-test costs are significant barriers.
Opportunities and Challenges
The market presents growth opportunities through the focus on companion diagnostics and direct-to-consumer genetic testing. Nevertheless, a shortage of skilled professionals and the integration of AI and machine learning are prominent trends and challenges.
