North American Diagnostic Biomarker Market Size, Share and Forecast 2019-2025

Posted by pooja makkhar on February 20th, 2020

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. 

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.

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The major players in the North American diagnostic biomarker market include Abbott Laboratories, Inc., Thermo Fisher Scientific, inc., Becton Dickinson and Co., Pfizer Inc., Quest Diagnostic Inc., and others. These companies are launching innovative products in the market, in order to meet the increasing demand for an effective diagnostic biomarker for cancer and cardiovascular diseases. Furthermore, the market players are adopting various strategies, in order to sustain in the competitive market, which includes partnership and collaboration, and investments. For instance, Astute Inc. in March 2017, entered into two agreements to expand global access to the NephroCheck Test. The company expanded its agreement with Ortho Clinical Diagnostics to add more countries under a new European distribution deal. In addition, the company established a distribution agreement with bioMérieux in the US for promoting the NephroCheck Test of Astute Medical on Astute140 Meter in the US.

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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.

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