Allergy Diagnostics Market is Led by North America

The allergy diagnostics market is estimated to reach USD 6,103.3 million in 2023, which will touch USD 12,814.2 million, with an 11.2% compound annual growth rate, by 2030.

The growth of this industry is because of the rising levels of environmental pollution, increasing investment to enhance allergy diagnostics by private & public administrations, and the occurrence of allergic disorders.

Furthermore, the inactive lifestyles, characterized by smoking, consumption of alcohol, and poor food habits; coupled with the high demand for in-vitro blood testing will further boost the industry expansion.

The consumables category, based on offering, is leading the industry in 2023, with a 45% share. This can be because consumables are an important component in detecting allergies.

North America is leading the industry in 2023, with a 55% share. This can be because of the strong healthcare system, swift technological developments in the medical sector, and advantageous reimbursement rules.

Additionally, the surging occurrence of allergies, coupled with the presence of inspiring procedures by associations to increase consciousness and make treatment and diagnosis available are also major contributors.

APAC will progress at the highest rate, of 11.5%, in the years to come. This can be primarily attributed to the requirement for less-invasive diagnostic technologies, speedily growing medical infrastructure, surging medical tourism activities, and unfulfilled clinical requirements.

With the rising levels of environmental pollution, the allergy diagnostics industry will continue to progress in the years to come.

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Therapeutic Drug Monitoring Market Is Led by North America

The therapeutic drug monitoring market is estimated to generate USD 1,961.6 million in 2023, which will rise to USD 3,764.1 million, growing at a 9.8% compound annual growth rate, by 2030.

The growth of this industry is because of the rising need for genetic testing, developments in diagnostic technologies, enhancing healthcare infrastructure, and the mounting R&D expenses in healthcare.

Moreover, the industry is also boosted by the increasing product launches, the growing count of patients with chronic ailments, and the existence of helpful government regulatory guidelines and policies about the utilization of medication monitoring.

The immunoassays category, based on technology, is the largest contributor to the industry in 2023, with a 65% share, and it will remain the largest during this decade. This can be because of their high accessibility as well as rising usage in the discovery of medication analysis and development.

North America is leading the industry in 2023, with a 50% share, and it will remain leading throughout this decade. This can be because of the existence of key companies, along with the government auspicious rules that permit drug monitoring mainly in primary healthcare centers and private labs.

APAC is likely to propel at the fastest rate in the years to come. This is because of the large patient populace base, increasing customer expenditure, and rising per capita income in the region. 

The regional industry is also driven by the increasing economic advancement in APAC countries such as China, Japan, South Korea, and India.

With the surging need for genetic testing and enhancing healthcare infrastructure, the therapeutic drug monitoring industry will continue to progress in the coming years.

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North America Is Dominating In-Situ Hybridization Industry

In 2023, the in-situ hybridization market amounted to USD 1,742.3 million and is set to grow at a compound annual growth rate of 12.8% between 2024 and 2030 reaching an estimated amount of USD 4,017.3 million by 2030.

This development of the market can be credited to the increasing acceptance of the in-situ hybridization (ISH) process for identifying numerous genetic illnesses and cancer, the rising pace of improvements in this method, and growing private and public funding for the research and development sector. Moreover, the rising demand for modified medicines is projected to fuel the industry growth.

There has been a distressing surge in cases of cancer worldwide in the past few years. This has caused a surge in the number of examined studies connected with this illness and those revolving around certain genomic irregularities, which are likely risk factors for numerous types of carcinomas.

In 2023, the FISH technology had a significant share, credited to the extensive variety of applications of this tech in diagnostics, like characterization with the aid of marker chromosomes, finding of numerical and structural chromosome flaws, finding of unusual and hereditary conditions, and drug abuse tracking.

In 2023, the North American region, generated the largest revenue share, of 55%, in the worldwide industry for in-situ hybridization solutions. The North American industry is projected to continue to uphold its dominating position during the projection period, mainly credited to the increasing count of autosomal diseases, cancer cases, genetic disorders, and also communicable conditions in the continent.

The U.S. is the key revenue generator in North America, mainly because of the strong government and private backing for the growth of new companion diagnostics methods.

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Circuit Monitoring Market Will Touch USD 949.1 Million in 2030

The circuit monitoring market is estimated to generate USD 702.5 million in 2023, which will touch USD 949.1 million, propelling at a 4.5% compound annual growth rate, by 2030. 

The progression of this industry is because of the increasing need for data centers, coupled with the rising worries about energy stability & personnel safety. 

The modular circuit category, based on type, will be the larger contributor, with over 65% share, in 2023, and it is expected to continue this trend during this decade. This is because of the benefits it offers in monitoring modular circuits like easier connectivity and easy installation, while offering prompt access to information in a user-friendly way. 

Whereas, the branch & multi-circuit category will propel at a higher rate during this decade. This can be because of the enhancement in technology, coupled with the benefits provided by these circuits, such as a compact size, which is more space-saving than other monitoring systems. 

In addition, these circuits are widely employed at data centers, commercial & residential spaces, and manufacturing facilities because of their multi-point application. 

The commercial category, based on end user, will be the largest contributor to the circuit monitoring market, with a 35% share, in 2023, and it will remain the largest throughout this decade. This can be because of the surging count of data centers across the globe, along with their rising acceptance of circuit monitoring to determine energy usage and circuit effectiveness. 

The industrial category, on the other hand, is likely to propel at the fastest rate in the years to come. This will be because of the enhancing industrial infrastructure all over the world and the rising acceptance of circuit monitoring to continuously manage the current flow and avoid disruptions in production.

North America will be the largest contributor to the industry in 2023, with approximately 55%, and it will further progress at a robust rate during this decade. This continent is observing a significant increase in the count of data centers, which offer profitable opportunities to existing and new players in this industry to tap more customer base.

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Transport Media Market is Driven by Increasing Occurrence of Infectious Diseases

The transport media market is estimated to reach USD 3,101.3 million in 2023, which will increase to USD 4,210.6 million, with a 4.6% compound annual growth rate, by 2030.

The growth of this industry is because of the rising R&D on viral illnesses, increasing need for pre-clinical and diagnostic testing, and the surging occurrence of infectious ailments like influenza and herpes.

For example, in 2022, around 400,000 individuals died from influenza globally. Likewise, approximately 4 billion individuals have herpes. Moreover, the growing count of government initiatives to enhance the acceptance of testing kits is also boosting the industry.

The viral transport media category, based on product type, is leading the industry, with a 35% share, in 2023. This can be because of the unexpected outbreak of infectious ailments like COVID-19 and monkeypox, which boost the requirement for testing and diagnosis among the infected people.

North America is dominating the industry. This is because of the surging number of diagnostic tests, rising R&D on infectious ailments, well-established healthcare system, and the existence of numerous pharma and biotech businesses.

Basically, the surging occurrence of infectious illnesses, particularly viral ailments, is a main factor that assists in revenue generation for industry players.

APAC will advance at the fastest compound annual growth rate during this decade, because of the rising prevalence of infectious illnesses like Lyme disease, tuberculosis, and COVID-19.

Moreover, the number of people with infectious illnesses is quite high in APAC, particularly in India and China. Therefore, several industry players have arrived to satisfy the vast unmet necessity for diagnosis.

It is because of the increasing research & development in viral ailments and the mounting incidence of infectious illnesses, the transport media industry will continue to progress in the coming years.

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North America Is Dominating Lateral Flow Assays Industry

In 2023, the lateral flow assays market amounted to USD 22.0 billion and is set to grow at a compound annual growth rate of 2.1% between 2024 and 2030 reaching an estimated amount of USD 25.4 billion by 2030.

This development of the market can be credited to the increasing occurrence of communicable syndromes, the rising need for point-of-care testing, the rising elderly populace, the growing utilization of home-based lateral flow assay devices, the increasing requirement for efficient diagnostic methods, and the growing government initiatives motivating health awareness.

Presently, the mainstream of diagnostic test procedures is lab-based throughout the globe. Thus, there is a quick increase in the acceptance of POC testing based on lateral flow assays, to substitute time-taking conservative lab test procedures.

Because of the utilization of these assays, POC testing is fast, easy, low-priced, simple to interpret, and suitable. Also, the price of test procedures is less than orthodox tests, and they do not require complex infrastructure and training. Therefore, such reasons are subsequently boosting the growth and demand for such assays.

The North American market, which accounts for 45% of revenue in 2023, is the largest worldwide LFF assay market. This is due to the increased incidences of COVID-19, Lyme disease, and tuberculosis, and a rise in mortality rates related to HIV and AIDS in the region.

In the US, according to government statistics, around 1.2 million people are infected in October 2022 and an estimated 13% don't know what it is or need testing.

The U.S. had the larger revenue share in the North American industry. This is because of the increasing pool of patients suffering from diseases and high affordability with rising per-capita income.

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Breast Lesion Localization Industry in North America is Leading

The breast lesion localization market was USD 410.4 million in 2023, which will reach USD 653.1 million by 2030, powering at a rate of 7% by the end of this decade.

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This is because of the increasing breast cancer screening programs and better compensation conditions. Furthermore, breast cancer is the most prevalent disease in females and its incidence is increasing fast. For example, as per the data published by the IARC, breast cancer has now exceeded lung cancer as the most frequently diagnosed cancer all over the world.

The wire guided category led the industry, with a share of 40%, in 2023. This is because of its low cost, ease of usage, and the obtainability of numerous wire localization devices able to be connected to radiology imaging systems with the use of guided wire.

Also, it is expected that the benefits of the wire localization method, for example its affordability, precision, and efficiency, as opposed to other breast lesion localization procedures, will advance the method's acceptance.

Furthermore, the growing incidence of breast malignancy, the increasing count of breast operations, and the surging usage of the wire localization technique in diagnostic and therapeutic areas are powering the need for early detection and effective treatment, which will further drive the growth of the industry.

In 2023, the breast biopsy category had a larger market share, of 65%, and the requirement for breast biopsies will increase in the years to come. This is for the reason that the metrics are valued as per the volume of patients experiencing breast biopsies and the increasing consciousness of the benefits of a biopsy for early breast lesion diagnosis.

The lumpectomy category also has a considerable share in the industry. This has a lot to do with the benefits of lumpectomy, for example patients’ breasts’ appearance and sensation can be preserved and it has a minimally invasive nature and fast recovery. Thus, it is regularly preferred over other highly invasive procedures like mastectomy.

North America breast lesion localization market is the leader of the pack. This is because of the presence of an established healthcare system, the presence of notable manufacturers, increased consciousness of early discovery of breast cancer, simple FDA approval procedures, and high utilization of advanced devices in cancer treatment facilities, in the region. For example, MOLLI Surgical Inc. got the approval from the U.S. FDA in May 2021 for MOLLITM, a novel wire-free localization technique for breast cancer surgery.

It is due to the increasing occurrence of cancer all over the world, the demand for breast lesion localization is on the rise, and this trend will continue in the years to come as well.

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