North America Molecular Diagnostics Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“North America Molecular Diagnostics Market Worth $8.10 Billion By 2025”
The North America Molecular Diagnostics (MDx) market size is expected to reach USD 8.10 billion by 2025 expanding at a CAGR of 10.4% during the forecast period, according to a new report by Grand View Research, Inc. Rising incidence of long-term diseases, such as cancer, Cardiovascular Diseases (CVDs), neurological disorders, obesity, and diabetes, is expected to drive the North America MDx market. According to the Population Reference Bureau, in U.S., the number of people aged 65 years and older is estimated to increase from 46 million in 2016 to around 98 million by 2060. Moreover, the data published by WHO states that the life expectancy is now exceeding to 80 years in most of the developed countries in the region. Thus, growing geriatric population is also likely to augment the market development. Aging characterizes the single most substantial risk factor for cancer development. Based on the U.S. National Cancer Institute’s Surveillance Epidemiology and End Results (SEER) Database, 38% of women and 43% of men are estimated to develop cancer during their lifetime. Nearly two-thirds of all new cancer cases are diagnosed in individuals above the age of 65 years. This is where molecular diagnostics plays an important role as it has a tremendous impact on the management of suffering from chronic diseases such as cancer and Cardiovascular Diseases (CVDs). It is also vital for public health surveillance and detection. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/north-america-moleculardiagnostics-market
Growing need for easy access to MDx has driven the Point-of-Care (PoC) market. One of the advantages offered by molecular diagnostics is that it can detect a disease even before the patient becomes symptomatic. PoC devices offer fast results, which, in turn, helps start treatments before the disease
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