North America Precision Diagnostics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Genetic Tests, Esoteric Tests, and Others), Application (Oncology, Cardiology, Respiratory Diseases, Immunology, and Others), and End User (Clinical Laboratories, Hospitals, Homecare, and Others)
The precision diagnostics market in North America is expected to grow from US$ 33,625.95 million in 2022 to US$ 71,825.04 million by 2028. It is estimated to grow at a CAGR of 13.5% from 2022 to 2028.
The precision medicine concept is being applied robustly in caring for rare diseases. Although it is more prevalent in oncology, it is gradually spreading to other specialties. The rising prevalence of cancer and the growing incidence of rare neurological disorders are increasing the demand for precision medicine, which is driving the growth of the precision diagnostics market. In addition, the rising demand for treatment procedures in oncology and other disorders is surging the adoption of treatment procedures. The genetic test is useful in many areas of medicine as it identifies mutations or variants in the DNA. Genetic testing, for example, provides information about the risk of developing cancer and diagnose genetic conditions, such as Fragile X syndrome or Huntington's disease.
Based on the cancer type, genomic cancer testing helps to create more personalize cancer treatment and care plans by helping patients and doctors better understand the diagnosis and reveal specific cancer drivers and market players encourage genomic cancer testing from the beginning of a diagnosis so precision medicine can be administered earlier in the treatment procedure. Thus, early diagnosis can help to promote early and optimal management of the disorders.
Moreover, the growing number of strategic collaborations between biopharmaceutical companies to develop medicines targeted at treating a specific group of patients based on their particular requirements is increasing the number of clinical trials. The need to provide effective treatment procedures and services is also aiding the rise of clinical trials. For instance, Personal Genome Diagnostics Inc. and Massachusetts General Hospital collaborated to advance the development of effective treatment services in 2021. In April 2022, the Precision Cancer Consortium (PCC) was formed as a new collaboration of pharmaceutical companies with a shared vision of providing comprehensive testing to all cancer patients. The consortium aims to increase patient access to precision diagnostics using comprehensive genomic testing. The factors mentioned above are driving the precision diagnostics market substantially.
North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
North America Precision Diagnostics Market Segmentation
The North America precision diagnostics market is segmented by type, application, end user, and country. Based on type, the market is segmented into genetic tests, esoteric tests, and others. The genetic tests segment dominated the market in 2022.
Based on application, the market is fragmented into oncology, cardiology, immunology, respiratory diseases, and others. The oncology segment dominated the market in 2022. Based on end user, the market is segmented into hospitals, clinical laboratories, home care, and others. The clinical laboratories segment dominated the market in 2022.
Based on country, the market is segmented into he US, Canada, and Mexico. Further, the US dominated the market in 2022.
A few key players dominating the North America precision diagnostics market are Abbott; Bayer AG; Koninklijke Philips N.V.; Lantheus Medical Imaging, Inc.; Novartis AG; QIAGEN; Quest Diagnostics Inc.; Sanofi; Siemens Healthineers AG; and Swiss Precision Diagnostics GmbH.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Precision Diagnostics Market – By Type
1.3.2 North America Precision Diagnostics Market – By Application
1.3.3 North America Precision Diagnostics Market – By End User
1.3.4 North America Precision Diagnostics Market – By Country
2. North America Precision Diagnostics Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Precision Diagnostics Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.3 Expert Opinion
5. North America Precision Diagnostics Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rising Demand for Personalized Medicine
5.1.2 Rising Application in Oncology and Other Disorders
5.2 Market Restraints
5.2.1 High Investments Involved in the R&D of Precision Medicine and Diagnostic Kits
5.3 Market Opportunities
5.3.1 Growing Advancement In Digital Solutions
5.4 Future Trends
5.4.1 Usage of Artificial Intelligence and Machine Learning in Precision Diagnostics
5.5 Impact Analysis
6. Precision Diagnostics Market– North America Analysis
6.1 North America Precision Diagnostics Market Revenue Forecast and Analysis
7. North America Precision Diagnostics Market– by Type
7.1 Overview
7.2 Genetic Tests
7.2.1 Overview
7.2.2 Genetic Tests: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.3 Esoteric Tests
7.3.1 Overview
7.3.2 Esoteric Tests: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8. North America Precision Diagnostics Market– by Application
8.1 Overview
8.2 Oncology
8.2.1 Overview
8.2.2 Oncology: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.3 Cardiology
8.3.1 Overview
8.3.2 Cardiology: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.4 Respiratory Diseases
8.4.1 Overview
8.4.2 Respiratory Diseases: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.5 Immunology
8.5.1 Overview
8.5.2 Immunology: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9. North America Precision Diagnostics Market– by End User
9.1 Overview
9.2 Clinical Laboratories
9.2.1 Overview
9.2.2 Clinical Laboratories: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.3 Hospitals
9.3.1 Overview
9.3.2 Hospitals: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.4 Homecare
9.4.1 Overview
9.4.2 Homecare: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
10. North America Precision Diagnostics Market– by Country
10.1 North America: Precision Diagnostics Market– Revenue and Forecast to 2028
10.1.1 Overview
10.1.2 North America Precision Diagnostics Market, by Country, 2022 & 2028 (%)
10.1.2.1 US: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 US: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.2 US Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
10.1.2.1.3 US Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
10.1.2.1.4 US Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
10.1.2.2 Canada: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 Canada: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.2 Canada Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
10.1.2.2.3 Canada Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
10.1.2.2.4 Canada Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
10.1.2.3 Mexico: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 Mexico: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.2 Mexico Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
10.1.2.3.3 Mexico Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
10.1.2.3.4 Mexico Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
11. North America Precision Diagnostics Market –Industry Landscape
11.1 Overview
11.2 Organic Developments
11.2.1 Overview
11.2.2 Organic Growth Strategies in the Precision Diagnostics Market, 2018-2022
11.3 Inorganic Developments
11.3.1 Overview
11.3.2 Inorganic Growth Strategies in the Precision Diagnostics Market, 2018-2022
12. Company Profiles
12.1 Quest Diagnostics Incorporated
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 QIAGEN
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Swiss Precision Diagnostics GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Koninklijke Philips N.V.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Lantheus Medical Imaging, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Siemens Healthineers AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Abbott
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Novartis AG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Sanofi
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Bayer AG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Precision Diagnostics Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
Table 3. US Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
Table 4. US Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
Table 5. Canada Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
Table 6. Canada Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
Table 7. Canada Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
Table 8. Mexico Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
Table 9. Mexico Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
Table 10. Mexico Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
Table 11. Recent Organic Growth Strategies in the Precision Diagnostics Market
Table 12. Recent Inorganic Growth Strategies in the Precision Diagnostics Market
Table 13. Glossary of Terms, North America Precision Diagnostics Market
LIST OF FIGURES
Figure 1. North America Precision Diagnostics Market Segmentation
Figure 2. North America Precision Diagnostics Market Segmentation, By Country
Figure 3. North America Precision Diagnostics Market Overview
Figure 4. Genetic Tests Held Largest Share Of Type Segment In North America Precision Diagnostics Market
Figure 5. US Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. North America: PEST Analysis
Figure 7. Experts’ Opinion
Figure 8. North America Precision Diagnostics Market Impact Analysis Of Driver And Restraints
Figure 9. North America Precision Diagnostics Market – Revenue Forecast and Analysis – 2020- 2028
Figure 10. North America Precision Diagnostics Market Share by Type - 2022 & 2028 (%)
Figure 11. Genetic Tests: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 12. Esoteric Tests: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 13. Others: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 14. North America Precision Diagnostics Market Share by Application- 2022 & 2028 (%)
Figure 15. Oncology: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 16. Cardiology: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 17. Respiratory Diseases: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 18. Immunology: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 19. Others: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 20. North America Precision Diagnostics Market Share by End User - 2022 & 2028 (%)
Figure 21. Clinical Laboratories: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 22. Hospitals: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 23. Homecare: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 24. Others: North America Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ million)
Figure 25. North America: Precision Diagnostics Market, by Key Country – Revenue (2022) (US$ Million)
Figure 26. North America: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
Figure 27. US: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
- Abbott
- Bayer AG
- Koninklijke Philips N.V.
- Lantheus Medical Imaging, Inc.
- Novartis AG
- QIAGEN
- Quest Diagnostics Incorporated
- Sanofi
- Siemens Healthineers AG
- Swiss Precision Diagnostics GmbH
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