North America Molecular Diagnostics Services Market – Industry Trends and Forecast to 2030

North America Molecular Diagnostics Services Market, By Service Type (Instrument Repair Services, Training Services, Compliance Services, Calibration Services, Maintenance Services, Scalable Automation Services, Turnkey Services, Instrument Relocation Services, Hardware Customization, Performance Assurance Services, Design and Development Services, Supply Chain Solutions, New Product Introduction Services, Manufacturing Services, Environmental & Regulatory Services, Medical Management Systems Certification & Auditing, Clinical Research Services, Consultative Services, and Other Services), Technology (PCR, Real Time PCR, Next Generation Sequencing, and Other Technologies), End User (Hospitals, Diagnostic Centers, Academic & Research Institutions, and Others) Industry Trends and Forecast to 2030.

North America Molecular Diagnostics Services Market Analysis and Insights 

The increasing demand for testing, therapies, and faster diagnosis is helping to boost overall market growth. The growing funding in the molecular diagnostics sector is also attributing to the market growth. The major market players are highly focused on various new diagnostics services. In addition, the rising prevalence of chronic and infectious diseases is also contributing to the rising demand for the market.

The North America molecular diagnostics services market is growing in the forecast year due to the rise in market players and the availability of various advanced molecular diagnostics services in the market. Along with this, the number of government and private collaborations has increased in the market which is further boosting the market growth. However, the high cost associated with molecular diagnostics labs setups and other instrumentations might hamper the market growth in the forecast period.

The strategic initiatives by key market players, rising government and private collaborations, and increasing R&D activities are giving opportunities for market growth. However, stringent regulations by the government and lack of skilled professionals are the key challenges to market growth.

North America molecular diagnostics services market is expected to reach USD 103,058.75 thousand by 2030 from USD 56,705.30 thousand in 2022, growing at a CAGR of 8.0% in the forecast period of 2023 to 2030.

Market Definition

Molecular diagnostics is known as the process of identifying a disease by studying molecules such as proteins, DNA, and RNA in a tissue or fluid. These molecular diagnostics services are used as a strategy to research, analyze, and diagnose certain molecules with the help of technologies in the laboratory. These are specially used for the measurement of a specific biomarker in the fluids, Polymerase Chain Reaction (PCR)-based detection of bacterial genes, and molecular responses of any certain infection. These services are used to provide more efficient testing and diagnostics.

Molecular diagnostic services enable researchers and technicians to efficiently and effectively produce output in less time, which drives the Asia-Pacific molecular diagnostics services market. Furthermore, with the potential for clinical practice, these services are used to give additional support to boost efficiency in molecular diagnosis and the presence of major market players also contributes to the market growth.

North America Molecular Diagnostics Services Market Dynamics

Drivers

• Rising prevalence of chronic and infectious diseases

Chronic and infectious diseases are currently the major cause of death among adults in almost all countries. The prevalence of chronic and infectious diseases is increasing, as a result of which people are more dependent on diagnostic labs and centers for disease diagnosis. The rising prevalence has increased the demand for molecular diagnostics services to provide accurate diagnoses, therapies, and test results within less time. Health-damaging behaviors- particularly tobacco use, lack of physical activity, poor eating habits, and excessive alcohol use are major contributors to the rising prevalence of chronic and infectious diseases. These diseases can be diagnosed by several techniques such as immunoassay, molecular techniques, PCR, and gene manipulation techniques among others. Hence, the demand for molecular diagnostic services is increasing to fulfill the patient’s demand for faster diagnosis and treatment.

The occurrence of chronic and infectious diseases is high and the number of molecular tests has also increased for diagnosis and treatment, the demand for products and services will rise eventually. Hence, the rising prevalence of chronic and infectious diseases is driving market growth across the globe.

• Increasing demand for testing, therapies, faster diagnostics

The demand for high-priced specialist therapies is more in the present scenario. The awareness among consumers about faster diagnostics is rising and the adoption of analyzer software for molecular diagnostics is increasing at a higher rate. Molecular diagnostics render accurate and effective results and have indispensable applications in disease diagnostics. People are preferring personalized medications that rely on identifying the genetic, epigenomic, and clinical information of the individual.

Furthermore, in recent years patients are shifting to personalized care and treatment and the demand for molecular testing, therapies, and faster diagnostics is increasing which may act as a driving factor for market growth across the globe.

• Growing funding in the molecular diagnostics segment

Government initiatives, schemes, and funding activities to support and promote innovation and development have increased, as a result, the molecular diagnostics segment is growing rapidly. This segment is an integral part of disease control, hence the funding is rising and scientists are more focused on developing new ideas for disease control and healthy survival. Again chronic disease like cancer has become dominant all over the world and the demand for specialized treatment and the fastest diagnosis is rising.

As the government and public funding are rising to support the molecular diagnostic segment for better innovations and alternatives for faster diagnosis, the market is boosting to a higher extent. Considering the above instances, it can be predicted that growing funding in the molecular diagnostics segment is going to drive the market in near future.

Opportunity

• Increasing research & development activities

The increasing R&D activities offer alternative options for receiving molecular diagnostics services globally, improving access and reducing costs associated with diagnostics services. However, the full potential of molecular diagnostics has not been realized with slow and fragmented uptake.

The increase in the awareness program, rising awareness initiatives, and support through the government have increased the usage of molecular diagnostics in various areas. The increased R&D activities will help to increase the knowledge to develop new or improved products and processes. The design, technical manufacturing, and phase trials are often the most important part of R&D activities that provide improvement in the services.

As the market players are constantly engaged in R&D activities more molecular diagnostic services are likely to be involved in the market. This would increase the demand for molecular diagnostic services by various end users such as hospitals, clinics, and diagnostic centers.

Restraint/Challenge

• High cost associated with molecular diagnostics labs setups and other instrumentations

The molecular diagnostic lab comprises several techniques such as Fluorescence In Situ Hybridization (FISH), Polymerase Chain Reaction (PCR)-based molecular diagnostics, interphase chromosome profiling, DNA fingerprinting, and others. There are several services associated with a molecular diagnostics lab such as installation service, validation service, rectification service, automation services, and others. Hence, the overall lab setup and instrumentation costs are too high which becomes quite difficult to be established without government and private funding and investments and this may restrain the market growth.

Post-COVID-19 Impact on North America Molecular Diagnostics Services Market

The post-COVID-19 has positively affected the market. A large number of the population were affected by this pandemic and the number of diagnostics tests had increased worldwide. Mostly, the PCR-based COVID-19 diagnosis increased. Thus, COVID-19 affected the market positively.

Recent Development

• In August 2022, Abbott shared its new study on a blood test for a concussion that can predict outcomes from brain injury and inform treatment interventions. This has helped the company to increase its North America presence in the market.

North America Molecular Diagnostics Services Market Scope

North America molecular diagnostics services market is segmented into three notable segments based on service type, technology, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

By Service Type

• Instrument Repair Services
• Training Services
• Maintenance Services
• Calibration Services
• Compliance Services
• Turnkey Services
• Scalable Automation Services
• Hardware Customization
• Instrument Relocation Services
• Performance Assurance Services
• Design & Development Services
• Supply Chain Solutions
• New Product Introduction Services
• Manufacturing Services
• Environmental & Regulatory Services
• Medical Management Systems Certification & Auditing
• Clinical Research Services
• Consultative Services
• Other Services

Based on service type, the market is segmented into instrument repair services, training services, maintenance services, calibration services, compliance services, turnkey services, scalable automation services, hardware customization, instrument relocation services, performance assurance services, design & development services, supply chain solutions, new product introduction services, manufacturing services, environmental & regulatory services, medical management systems certification & auditing, clinical research services, consultative services, and other services.

By Technology

• PCR
• Real Time PCR
• Next Generation Sequencing
• Other Technologies

Based on technology, the market is segmented into PCR, real time PCR, next generation sequencing, and other technologies.

By End User

• Hospitals
• Diagnostics Centers
• Academic & Research Institutes
• Others

Based on end user, the market is segmented into hospitals, diagnostic centers, academic & research institutes, and others.

North America Molecular Diagnostics Services Market Regional Analysis/Insights   

The North America molecular diagnostics services market is analyzed and market size insights and trends are provided by country, service type, technology, and end user.

The countries covered in this report are U.S., Canada, and Mexico.

The U.S. dominates the North America molecular diagnostics services market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period.

This is due to implementing awareness programs among people and the rise in technological advancement further improves this market growth.

The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of North America brands and the challenges faced due to high competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and North America Molecular Diagnostics Services Market Share Analysis

The North America molecular diagnostics services market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.

Some of the major players operating in the North America molecular diagnostics services market are F. Hoffmann-La Roche Ltd, Danaher, BIOMERIEUX, QIAGEN, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc, Abbott, DiaSorin S.p.A., and Hologic, Inc among others.