Next Generation Molecular Assay Market Market Share

North America Market Forecast

North American region in next generation molecular assay market is expected to hold revenue share of more than ~40% by 2036. The region is growing due to the presence of top industry leaders, regulatory standards, and a progressive healthcare sector.

The US has one of the best key players in the market such as BostonGene, a leading provider of AI-powered cloud-based and immune profiling services. In 2023, for improving patient response and making advancements in the medicines, BostonGene along with NEC corporation and Japan Industry Provider announced the launch of a new Tokyo-based joint venture named BostonGene Japan Inc. For ensuring quality and safety of pharmaceutical products Good Laboratory Practices (GLP), Good Clinical Practices (GCP), and Good Manufacturing Practices (GMP) are being followed by under the region.

The Canadian healthcare sector is progressing and the PCR technique is one of the most common molecular testing techniques, driving growth in the next generation molecular assay market. As per a recent analysis, the healthcare expenditure in Canada was over USD 21 million in 2023.

Asia Pacific Market Analysis

By the end of 2036, Asia Pacific region in next generation molecular assay market is set to account for more than ~28% revenue share. The region is thriving owing to government initiatives, R&D investments, a growing pharmaceutical sector, and improved medical practices. India has executed various initiatives to meet the demands of the health sector and thereby, also invested USD 1 Billion in biotechnology for research and development. The healthcare sector in China is promising and competitive providing a clear space for the Market to flourish. According to the International Trade Administration, the pharmaceutical sector of China was estimated to hold a value of USD 161.8 Billion in 2023. Korea has an extensive medical network and efficient medical device availability. The Korean healthcare management systems are very appreciative and the service is accessible 24/7. and the pharmaceutical industry of South Korea was estimated to be around 30 trillion won in 2022.