The North America IVD In Cardiology And Neurology Market would witness market growth of 8.6% CAGR during the forecast period (2023-2030).
The US market dominated the North America IVD In Cardiology And Neurology Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8,663.4 million by 2030. The Canada market is experiencing a CAGR of 11.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 10.1% during (2023 - 2030).
The market is a dynamic and vital segment within the broader healthcare landscape. The increasing prevalence of cardiovascular and neurological disorders has led to a significant surge in the application of IVD tests in the fields of cardiology and neurology. According to the data from the British Heart Foundation, by 2024, around 620 million individuals suffer from heart and circulatory diseases. Likewise, as per Statistics Canada, approximately 750,000 Canadians are living with Alzheimer’s disease or another form of dementia. In 2022, Alzheimer's disease constituted the ninth most prevalent cause of mortality in Canada.
In addition, these conditions often necessitate precise and early diagnosis, so integrating IVD technologies has become indispensable for healthcare providers. An important factor in the widespread adoption of IVD tests in these specialties has been the growing consciousness among clinicians and patients regarding the critical nature of early detection and proactive management of cardiac and neurological disorders.
Canada's rising aging population is likely to significantly impact the expansion of In Vitro Diagnostics (IVD) in cardiology and neurology. As individuals age, the prevalence of chronic diseases and conditions associated with these medical specialties tends to increase. IVD plays a crucial role in the diagnosis, monitoring, and management of cardiovascular and neurological disorders, making it an essential component of healthcare for the elderly population. As per Statistics Canada, in 2022, there were 7,330,605 people aged 65 and older in Canada. Moreover, over 861,000 people aged 85 and older were counted in the 2021 Census, more than twice the number observed in the 2001 Census. Hence, rising CVD cases and the aging population in North America will assist in the growth of the market.
Free Valuable Insights: The IVD In Cardiology And Neurology Market is Predict to reach USD 29.9 Billion by 2030, at a CAGR of 9.3%
Based on Product Type, the market is segmented into Reagents & Consumables, Instruments, and Software & Services. Based on End Use, the market is segmented into Hospitals, Clinical Laboratories, and Others. Based on Technology, the market is segmented into Immunoassays, Molecular Diagnostics, Hematology, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Product Type
By End Use
By Technology
By Country
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
