The North America companion diagnostics market is estimated to progress with a 13.41% CAGR across the forecasted period of 2022 to 2030. The rise in the incidence of neurodegenerative conditions, including Alzheimer’s disease, the growing prevalence of chronic diseases, intensifying health consciousness, and the rollout of healthcare plans by the government are among the key factors contributing to the market growth of the region.
The North America companion diagnostics market growth evaluation entails the assessment of Canada and the United States. Various public and private initiatives in the field of companion diagnostics are set to fuel the market growth in Canada. For example, the Alliance for Innovation in Molecular Diagnostics is working towards the improvement of the companion diagnostics innovation environment in Canada. The initiative also aims to minimize the lack of clarity on how decision-makers prioritize companion diagnostics tests by emphasizing interprovincial regulatory as well as operational variability. These factors deter and affect the development and uptake of companion diagnostics, respectively.
In addition, increased investments in R&D expenditure for precision medicine technologies and innovative clinical trials are expected to provide the market in Canada with lucrative growth opportunities. Furthermore, the rollout of healthcare plans for enhanced patient outcomes is anticipated to contribute to the demand and adoption of companion diagnostics in Canada, as well. Therefore, the abovementioned factors are set to drive the market growth in North America during the forecast years.
The top players operating in the market are Danaher Corporation, Abbott Technologies, Arup Laboratories, etc.
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