The North American diagnostic biomarker market is estimated to grow significantly at a CAGR of over 13% during the forecast period. Factors that are contributing significantly in the market growth include the presence of well-developed healthcare infrastructure, increasing healthcare R&D investments, high healthcare expenditure and others. Moreover, the market growth is attributed to the rising prevalence of cancer, CVDs, and chronic diseases. The rising number of cancer patients is considered to be one of the major factors that are driving the growth of the market in the North American region.
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North America is one of the strongest economies globally, comprising around 23.3% of the world economy as per the International Monetary Fund in 2017. According to data from OECD, in 2016 the US spent almost 17.2% of GDP on healthcare expenditure, whereas Canada spent 10.6% of GDP on healthcare. Accordingly, the healthcare expenditure rate of the US is more than that of Canada, as the US government invests more in R&D. Furthermore, socio-economic factors such as health, income, population base creates more business opportunity in the US as compared to Canada.
The North American diagnostic biomarker market is segmented on the basis of diagnostic technique and application. On the basis of the diagnostic technique, the market is segmented into ELISA, colorimetric assay, liquid chromatography-mass spectrometry, particle-enhanced turbidimetric immunoassay and other. Further, on the basis of application, the market is segmented into oncology, cardiology, neurology, nephrology, and others. There is a huge scope for the market in the oncology segment due to the increasing prevalence of cancer. A large number of researches is going on for finding diagnostic biomarkers for various types of cancer so that early detection can be done.
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North American Diagnostic Biomarker Market Segmentation
By Diagnostic Technique
- ELISA
- Colorimetric Assay
- Liquid Chromatography-Mass Spectrometry
- Particle-Enhanced Turbidimetric Immunoassay
- Others
By Application
- Oncology
- Cardiology
- Neurology
- Nephrology
- Others
Regional Analysis
- United States
- Canada
Company Profiles
- Abbott Laboratories Inc.
- Acumen Pharmaceuticals, Inc.
- Agilent Technologies, Inc.
- Astute Medical, Inc.
- Banyan Biomarkers, Inc.
- Beckman Coulter Inc.
- Becton, Dickson and Co.
- Biodesix, Inc.
- Bio-Rad Laboratories, Inc.
- Critical Care Diagnostics, Inc.
- Empire Genomics, LLC
- Enzo Life Sciences, Inc.
- Foundation Medicine, Inc.
- GeneNews Ltd.
- Hologic, Inc.
- Illumina, Inc.
- Inova Diagnostics, Inc.
- Luminex Corp.
- Merck and Co., Inc.
- Myriad Genetics, Inc.
- NanoString Technologies, Inc.
- NeoGenomics, Inc.
- Pacific Biomarker Inc.
- Pfizer, Inc.
- Pliant Therapeutics, Inc.
- Quest Diagnostics Inc.
- Response Biomedical Corp.
- Signosis Inc.
- Thermo Fisher Scientific Inc.
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