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United States Diagnostics Market, Competition, Forecast and Opportunities, 2018-2028

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  • 84 Pages
  • October 2023
  • Region: United States
  • TechSci Research
  • ID: 5105821
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United States Diagnostics Market has valued at USD 35.66 Billion in 2022 and is anticipated to project steady growth in the forecast period with a CAGR of 8.93% through 2028. When a disease or condition is checked or analyzed by a healthcare professional, it is generally termed as diagnosing the condition. Diagnostics refer to the comprehensive processes and tests used to conclude the outcome of that analysis. These diagnostic tests play a critical role in the detection and treatment of various diseases and medical conditions.

By detecting a disease on time, it becomes easier to initiate timely treatment, leading to better outcomes. Diagnostic tests provide valuable insights into the nature and severity of the disease, helping healthcare providers determine appropriate treatment approaches. They also enable patients to understand the disease better, including its potential implications and preventive measures that can be taken for the future. Emphasizing the importance of early detection, diagnostic tests empower individuals to take proactive steps towards their health and well-being.

Key Market Drivers

Growing Burden of Infectious and Chronic Diseases

The burgeoning burden of both infectious and chronic diseases in the United States is anticipated to proliferate the demand for diagnostic testing. The recent pandemic has underscored the pivotal role of prompt and accurate diagnosis in managing infectious diseases, highlighting the critical need for efficient and accessible diagnostic services. Moreover, the escalating prevalence of chronic conditions-such as diabetes, cardiovascular diseases, and cancer-necessitate regular monitoring and early detection for effective management, thereby propelling the demand for comprehensive and advanced diagnostic solutions. According to the Centers for Disease Control and Prevention, six in ten adults in the U.S. have a chronic disease, with four in ten adults having two or more chronic conditions. These statistics reflect a substantial potential market for diagnostics, creating opportunities for the development of innovative diagnostic technologies and solutions.

Advancements in diagnostic technologies, including next-generation sequencing and liquid biopsy, have revolutionized disease management by enabling more precise and personalized approaches. These cutting-edge technologies facilitate early detection, accurate diagnosis, and tailored treatment plans, ultimately fostering the trend of 'preventive healthcare'. By focusing on proactive and preventive measures, healthcare providers can significantly reduce the impact of diseases, improve patient outcomes, and minimize healthcare costs. As a result, the diagnostics market in the U.S. is poised for significant growth, driven by the increasing incidence of diseases, continuous technological innovation, and a greater emphasis on early diagnosis and preventive healthcare. The integration of advanced diagnostic tools and strategies will play a crucial role in addressing the evolving healthcare needs of the population and improving overall healthcare outcomes in the United States.

Increasing Adoption of Automated Platforms

The prevalence of automated platforms in the healthcare sector has been steadily rising, and this trend is expected to significantly enhance the demand for diagnostics in the United States. Automation has transformed the landscape of healthcare, making diagnostic procedures more accurate, reliable, and time-efficient. Automated platforms provide an innovative approach to medical testing, reducing the scope for human error and ensuring precision in results. For instance, automation in pathology labs speeds up sample processing, leading to faster diagnosis and timely treatment. Additionally, the adoption of automated platforms allows healthcare providers to manage large volumes of diagnostic tests, addressing the increased demand due to population aging and the rise in chronic diseases. These platforms also enable remote diagnostic services, making healthcare more accessible, particularly amidst the pandemic. Furthermore, automation in diagnostics aligns with the larger trends of digital transformation in healthcare, enhancing patient engagement and care coordination. As such, the increase in the adoption of automated platforms is likely to fuel the demand for diagnostics, offering promising growth prospects for the diagnostic industry in the United States.

Increasing Involvement of Advanced Technologies in The Diagnostics Field

The upsurge in the application of advanced technologies in the diagnostics field is predicted to significantly stimulate demand for diagnostics in the United States. Innovative technologies, such as artificial intelligence, machine learning, and precision medicine, have transformed diagnostics, enabling earlier disease detection and more accurate results. These advancements are instrumental in addressing complex conditions like cancer, heart diseases, and genetic disorders, which require high-precision diagnostic tools. Furthermore, the integration of big data analytics and IoT in diagnostics has introduced a new era of telehealth and remote patient monitoring. These technologies help deliver real-time health data, facilitating timely interventions and improved patient outcomes. As the U.S. healthcare sector continues to prioritize patient-centric and preventative care, these high-tech diagnostic tools are rapidly gaining traction. Therefore, the intersection of advanced technologies and diagnostics heralds an auspicious future for the diagnostics industry in the United States.

Increasing Demand for Point-Of-Care Testing POCT

The escalating demand for Point-Of-Care Testing (POCT) in the United States is projected to significantly stimulate the growth of diagnostic services. POCT, known for delivering instant, patient-centric diagnostic results, is a frontline tool in the pursuit of improved patient outcomes and enhanced healthcare efficiency. With its swift, accurate testing mechanism, POCT not only expedites treatment decisions but also positively influences patient management strategies, leading to better healthcare delivery. As the U.S. healthcare landscape continues to shift towards precision medicine and value-based care, the relevance and adoption of POCT are likely to surge. This growth is further supported by the advancements in technology and the development of portable, user-friendly diagnostic devices, which make POCT more accessible and convenient for both healthcare professionals and patients. Consequently, the burgeoning demand for POCT is set to significantly bolster the broader diagnostics sector in the United States, providing a strong foundation for continued development and innovation, ultimately improving healthcare outcomes for all.

Key Market Challenges

Affordability for High-end Molecular Diagnostics

Molecular diagnostics, despite its cutting-edge capabilities, has traditionally been associated with high costs, making it inaccessible for many patients. However, there is a growing trend for these costs to decrease, which is expected to inversely impact the demand for diagnostic services in the United States. Technological advancements and intensified competition in the healthcare sector have prompted a shift towards more affordable, high-end molecular diagnostics. While this is a positive development for patients, it may lead to a decrease in demand for traditional diagnostic services. Lower costs mean broader access to molecular diagnostics, potentially leading to early disease detection and improved patient outcomes. However, this affordability could lead to an oversaturation of services, and paradoxically, a decrease in demand. As patients have more direct access to sophisticated diagnostic tools, there could be a flattening in the demand curve for these services. Traditional diagnostic providers may need to adapt their business models to stay competitive in this dynamic market. The evolving landscape of the US healthcare system, characterized by the democratization of high-end technology, will influence the future of diagnostics, potentially leading to a demand dip in the short term. This decrease in demand, however, could set the stage for further innovation and competition, ultimately driving the evolution of diagnostic services in the United States.

Limitations Associated with Reimbursement Scenario

Despite the critical role of diagnostics in healthcare, certain aspects associated with the reimbursement scenario in the United States pose significant constraints, leading to a potential decrease in their demand. The complex and often stringent reimbursement policies, majorly regulated by Medicare and Medicaid, create a challenging environment for providers to navigate. Many diagnostic procedures are not adequately covered, leading to high out-of-pocket expenses for patients, thus deterring them from seeking necessary diagnostic tests. Moreover, the process of attaining reimbursements is filled with bureaucratic red tape, making it a tedious process for both patients and healthcare providers. This situation is further intensified by the rising healthcare costs, making diagnostics an expensive proposition for many. Additionally, the lack of clarity in reimbursement policies for novel diagnostic technologies can hinder their adoption, creating an uncertain market scenario. As healthcare providers and patients grapple with these issues, the demand for diagnostics can be expected to decrease, unless significant changes are undertaken to simplify and streamline the reimbursement process in the country.

Key Market Trends

Rising Development of Easy-To-Use Diagnostics Devices

The burgeoning development of easy-to-use diagnostic devices is poised to significantly bolster the demand for diagnostics within the United States. With the advent of intuitive, user-friendly technologies, diagnosis that was once confined within the realm of medical professionals can now be conducted within the comfort of one's home. These devices have the potential to revolutionize the healthcare sector, offering a timely and cost-effective solution for disease detection. By eliminating the need for an appointment with a healthcare professional and waiting time for lab results, these devices enable individuals to take proactive measures in monitoring their health. Moreover, their capacity to provide immediate results holds great promise in the management of chronic conditions, allowing for real-time monitoring and adjustments in treatment plans. Consequently, these advancements in diagnostic devices are expected to extend the reach of healthcare services, facilitating early detection and timely intervention, thereby promoting overall public health. Given these advantages, it is anticipated that the demand for such diagnostic devices will see a substantial increase in the United States. It is a progressive step towards democratizing healthcare, making diagnostics more accessible and empowering individuals to take charge of their own health.

Increasing Adoption of Digital pathology

The increasing adoption of digital pathology in the United States is anticipated to significantly drive the demand for diagnostics in the healthcare sector. This growth is attributed to the numerous advantages that digital pathology offers, including enhanced operational efficiency, quick turnaround times, and the capability for remote accessibility. With the digitalization of pathology, medical professionals can now rapidly analyze and interpret pathological information, thereby enabling faster and more accurate diagnosis. This efficiency not only expedites patient care but also reduces overall healthcare costs. Additionally, the ability to share digital pathology data remotely is revolutionizing telepathology, allowing professionals in different locations to collaborate effectively. The recent COVID-19 pandemic has also underscored the value of such remote capabilities, further propelling the adoption of digital pathology. Moreover, the integration of Artificial Intelligence (AI) and machine learning technologies in digital pathology is unlocking unprecedented opportunities for advanced diagnostics. These AI-driven systems can detect subtle patterns in pathological samples that may be overlooked by humans, thus increasing diagnostic accuracy. Given these transformative impacts, the burgeoning adoption of digital pathology is set to significantly escalate the demand for diagnostics in the United States.

Segmental Insights

Product Type Insights

Based on the Product Type, Reagents are projected to dominate the product type sector. These crucial components of diagnostic tests are extensively utilized across a wide range of platforms, including molecular diagnostics, immunoassays, and clinical chemistry, which in turn, fuels the growing demand for them. Their affordability and high usage rate make them indispensable in various healthcare settings, from hospitals to research laboratories. Furthermore, the continuous development of novel reagents that offer enhanced diagnostic accuracy, precision, and specificity contributes significantly to their strong and commanding market position. As the field of diagnostics continues to evolve, reagents remain at the forefront, playing a vital role in ensuring accurate and reliable test results for improved patient care and disease management. With advancements in technology and the introduction of innovative reagents, healthcare professionals can now obtain more precise and detailed diagnostic information, enabling them to make well-informed decisions regarding patient treatment and management.

The increasing emphasis on personalized medicine and the rising prevalence of chronic diseases further drive the demand for reagents in the diagnostics market. These versatile components not only aid in the detection and monitoring of diseases but also enable early intervention and targeted therapies. As healthcare systems strive to provide efficient and effective care, reagents continue to play a critical role in shaping the future of diagnostics, paving the way for improved patient outcomes and better disease management strategies.

Type of Test Insights

Based on the Type of Test, the Infectious Disease Testing segment is projected to dominate the United States Diagnostics Market. With the rise in infectious diseases and the ongoing technological advancements in diagnostic testing, there is an increased demand for more efficient and accurate ways to detect and manage these illnesses. This growth is further propelled by the current global health scenario and the need for rapid diagnostic procedures. As the prevalence of infectious diseases continues to escalate, it becomes crucial to develop advanced and comprehensive diagnostic solutions. The United States Diagnostics Market is witnessing a surge in demand for innovative testing methods that can swiftly identify and effectively manage infectious diseases. With the recent global health crisis, the urgency to enhance diagnostic capabilities has become even more evident.

The continuous advancements in technology have provided an opportunity for the development of cutting-edge diagnostic tools. These advancements, combined with the growing awareness of the importance of early detection and management of infectious diseases, have fueled the demand for efficient and accurate testing solutions. The Infectious Disease Testing segment is positioned to lead the market, leveraging these technological breakthroughs to deliver precise and timely results. The United States Diagnostics Market is witnessing a significant shift toward infectious disease testing. The demand for more efficient, accurate, and rapid diagnostic procedures has been amplified by the current global health scenario. With ongoing technological advancements and the pressing need for effective disease management, the Infectious Disease Testing segment is poised to dominate the market, offering innovative solutions to address the growing challenges posed by infectious diseases.

Regional Insights

The Northeast region of the United States is expected to dominate the United States Diagnostics Market. This can be attributed to the region's advanced healthcare infrastructure, high per capita healthcare expenditure, and the presence of leading diagnostic companies. The state-of-the-art medical facilities in Massachusetts and New York, such as renowned hospitals and research institutions, contribute to the region's reputation for excellence in healthcare. The availability of cutting-edge diagnostic technologies and expertise in these areas further strengthens their position in the market. Additionally, the high per capita healthcare expenditure in the Northeast region indicates a strong commitment to quality healthcare and a willingness to invest in advanced diagnostic solutions.

Furthermore, the presence of leading diagnostic companies in the Northeast region plays a significant role in its dominance of the United States Diagnostics Market. These companies bring innovation, expertise, and a wide range of diagnostic products and services to the region. Their competitive advantage and collaborations with healthcare institutions contribute to the overall growth and success of the market. The Northeast region of the United States, with its advanced healthcare infrastructure, high per capita healthcare expenditure, and the presence of leading diagnostic companies, is poised to dominate the United States Diagnostics Market. This region serves as a hub of innovation and excellence in the field of diagnostics, driving advancements in healthcare and benefiting patients nationwide.

Report Scope:

In this report, the United States Diagnostics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

United States Diagnostics Market, By Product Type:

  • Reagents
  • Instruments
  • Software & Services

United States Diagnostics Market, By Type of Test:

  • Infectious Disease Testing
  • Lipid Panel
  • Metabolic Panel
  • Others

United States Diagnostics Market, By Technique:

  • Immunodiagnostics
  • Clinical Techniques
  • Molecular Diagnostics
  • Tissue Diagnostics
  • Others

United States Diagnostics Market, By Usability:

  • Reusable
  • Disposable

United States Diagnostics Market, By Application:

  • Infectious Diseases Cancer
  • Sexually Transmitted Diseases
  • Others

United States Diagnostics Market, By End User:

  • Hospitals
  • Public labs
  • Diagnostic Centers
  • Point-of-Care Testing Centers
  • Private or Commercial Laboratories
  • Others

United States Diagnostics Market, By Region:

  • Northeast Region
  • Midwest Region
  • West Region
  • South Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States Diagnostics Market.

Available Customizations:

United States Diagnostics Market report with the given market data, the publisher offers customizations according to a company's specific needs.

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. United States Diagnostics Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Product Type (Reagents, Instruments, Software & Services)
5.2.2. By Type of Test (Infectious Disease Testing, Lipid Panel, Metabolic Panel, Others)
5.2.3. By Technique (Immunodiagnostics, Clinical Techniques, Molecular Diagnostics, Tissue Diagnostics, Others)
5.2.4. By Usability (Reusable, Disposable)
5.2.5. By Application (Infectious Diseases, Cancer, Sexually Transmitted Diseases, Others) By Infectious Diseases (Human Papillomavirus, Hepatitis, Tuberculosis, Hospital-Acquired Infections, COVID-19)
5.2.6. By End User (Hospitals, Public labs, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others)
5.2.7. By Region
5.2.8. By Company (2022)
5.3. Market Map
6. North-East Diagnostics Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Product Type
6.2.2. By Type of Test
6.2.3. By Technique
6.2.4. By Usability
6.2.5. By Application
6.2.6. By End User
7. Mid-West Diagnostics Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product Type
7.2.2. By Type of Test
7.2.3. By Technique
7.2.4. By Usability
7.2.5. By Application
7.2.6. By End User
8. West Diagnostics Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Product Type
8.2.2. By Type of Test
8.2.3. By Technique
8.2.4. By Usability
8.2.5. By Application
8.2.6. By End User
9. South Diagnostics Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Product Type
9.2.2. By Type of Test
9.2.3. By Technique
9.2.4. By Usability
9.2.5. By Application
9.2.6. By End User
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
11.1. Recent Development
11.2. Mergers & Acquisitions
11.3. Product Launches
12. Policy & Regulatory Landscape13. United States Economic Profile14. United States Diagnostics Market: SWOT Analysis
15. Porter’s Five Forces Analysis
15.1. Competition in the Industry
15.2. Potential of New Entrants
15.3. Power of Suppliers
15.4. Power of Customers
15.5. Threat of Substitute Products
16. Competitive Landscape
16.1. Abbott Laboratories, Inc.
16.1.1. Business Overview
16.1.2. Product Offerings
16.1.3. Recent Developments
16.1.4. Financials (As Reported)
16.1.5. Key Personnel
16.2. Danaher Corporation
16.3. Thermo Fisher Scientific, Inc.
16.4. Johnson & Johnson
16.5. Ortho-Clinical Diagnostics, Inc.
16.6. Becton, Dickinson, and Company
16.7. Bio-Rad Laboratories, Inc.
16.8. Roche Diagnostics Corporation
16.9. Siemens Medical Solutions USA, Inc.
16.10. Biomerieux Inc.
17. Strategic Recommendations18. About the Publisher & Disclaimer

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Abbott Laboratories, Inc.
  • Danaher Corporation
  • Thermo Fisher Scientific, Inc.
  • Johnson & Johnson
  • Ortho-Clinical Diagnostics, Inc.
  • Becton, Dickinson, and Company
  • Bio-Rad Laboratories, Inc.
  • Roche Diagnostics Corporation
  • Siemens Medical Solutions USA, Inc.
  • Biomerieux Inc.

Table Information