US Diagnostics Market to Witness Significant Growth until 2025

by David Johnson Top Market Research Company in US

Increasing geriatric population to drive the growth of United States diagnostics market

According to TechSci Research report, “United States Diagnostics Market By Product Type (Reagents, Instruments, Software & Services), By Type of Test (Lipid Panel, Metabolic Panel, Infectious Disease Testing, Others), By Technique (Immunodiagnostics, Molecular Diagnostics, Tissue Diagnostics, Clinical Techniques, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), By End User (Hospitals, Public labs, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Region, Forecast & Opportunities, 2025”, the United States diagnostics market is expected to grow at an impressive rate 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. Stats 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 2025. 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.

US Diagnostics Market

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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 product type, the market can be categorized into reagents, instruments and software & services. Among these, the reagents segment is expected to dominate the market owing to the increasing number of diagnostic tests being performed which have increased the demand for reagents. On the other hand, the instrument segment is expected to register significant growth in the market owing to the increasing demand for advanced medical instruments and equipment, which deliver accurate and reliable diagnostic test results. Based on technology, the market can be categorized into immunodiagnostics, molecular diagnostics, tissue diagnostics, clinical techniques and others. Here, the molecular diagnostics market is expected to dominate the market owing to the increasing application of molecular diagnostic techniques in point of care testing and pharmacogenetics. Additionally, increasing number of blood tests being performed on account of the growing prevalence of diseases is further driving the segmental growth. Based on application, the market can be grouped into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases and others. Among these, the infectious diseases segment is expected to register the highest growth in the market owing to the growing prevalence of infectious diseases. Furthermore, the outbreak and spread of pandemic COVID-19 which is also an infectious disease is further expected to drive the segmental growth through 2025. Based on end user, the market can be fragmented into hospitals & clinics, diagnostic centers, point-of-care testing centers, private or commercial laboratories and others. The hospitals segment is expected to dominate the market owing to the increasing volumes of tests being conducted in hospitals.

Abbott Laboratories, Inc., Danaher Corporation, Thermo Fisher Scientific, Inc., Johnson & Johnson, Ortho-Clinical Diagnostics, Becton, Dickinson, and Company, Bio-Rad Laboratories, F. Hoffmann-La Roche Ltd, Siemens Healthcare, Perkin Helmer 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.

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“United States diagnostics market is expected to witness significant growth during the forecast period, on account of the increasing demand for personalized medicines and companion diagnostics. Additionally, technological advancements in the health care industry with the advent of AI, cloud computing, IoT, among others, is further expected to propel the market growth through 2025. 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 (Lipid Panel, Metabolic Panel, Infectious Disease Testing, Others), By Technique (Immunodiagnostics, Molecular Diagnostics, Tissue Diagnostics, Clinical Techniques, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), By End User (Hospitals, Public labs, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Region, Forecast & Opportunities, 2025”, 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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