North America Laboratory Developed Test Market is Expected to grow at a CAGR of 6.8 % During Forecast Period 2021 to 2028

The North America Laboratory Developed Test Market is expected to reach US$ 8,988.78 million by 2028 from an estimated value of US$ 5,664.43 million in 2021; it is likely to register a CAGR of 6.8% from 2021 to 2028.

A laboratory developed test (LDT) is a type of in vitro diagnostic test that is designed and used within a single laboratory. These tests can be utilized to estimate or distinguish an extensive assortment of analytes materials such as proteins, chemical compounds like glucose or cholesterol, or DNA, from a specimen received from human anatomy. The expansion of automated in vitro diagnostics (IVD) methods for labs and dispensaries to render precise, and error-free analysis is anticipated to fuel the increment.

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The key factors driving the growth of market are increasing incidence of cancer and genetic disorders and a large number of product launches for laboratory developed tests. However, the changing regulatory landscape may hamper the growth of the North America laboratory development test market during the forecast period.Cancer is one of the leading causes of death worldwide. As per the WHO estimates, cancer was a cause of ~9.6 million deaths in 2018. Clinical diagnostics helps in detecting early signs and risk factors, paving way for early intervention.

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Major Key players covered in this report:

• Quest Diagnostics Incorporated
• F. HOFFMANN-LA ROCHE LTD
• QIAGEN
• Illumina, Inc.
• Eurofins Scientific

NORTH AMERICA LABORATORY DEVELOPED TEST MARKET SEGMENTATION

By Type

Clinical Biochemistry
Critical Care
Haematology
Immunology
Microbiology
Molecular Diagnostics
Other Test Types

By Application

Academic Institutes
Clinical Research organizations
Hospitals laboratory
Specialty Diagnostic Centers
Others

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