United States In Vitro Diagnostics Market Trends

Oncology is expected to witness the fastest CAGR, due to the rising number of cancer cases in the United States. There is also an increasing demand for self-care devices and POC diagnostics in the United States for the treatment of chronic diseases that are expected to boost market growth in the future. According to the American Cancer Society updates from 2021, about 1.8 million new cancer cases were reported in 2020. Breast, prostate, colorectal, lung, stomach, and liver cancers are the most common types. Cancer-causing viruses such as Human Papillomavirus & Hepatitis B Virus/Hepatitis C Virus are also responsible for about 20% of cancer deaths. The number of cancer cases is expected to increase by around 70% over the next two decades, which is expected to increase the demand for clinical testing for early-stage diagnosis. Thus, the adoption of in vitro diagnosis increases with increasing cases of cancer in the region.

Additionally, in August 2022, the United States Food and Drug Administration granted clearance to a blood-based Divitum Tka biomarker assay for disease monitoring of patients with metastatic breast cancer (MBC). Similarly, in November 2020, the Food and Drug Administration approved the liquid biopsy next-generation sequencing-based FoundationOne Liquid CDx test (Foundation Medicine, Inc.) as a companion diagnostic device for multiple additional biomarkers detected in cell free-DNA isolated from plasma specimens.

Moreover, in February 2022, Cancer Moonshot was initiated by the United States government to enhance the screening rate for cancer for identifying the missed cases due to the COVID-19 pandemic. In the next 25 years, the government aims to reduce the cancer death rate by 50% with early diagnosis and treatment.

Thus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.