North America Acetaminophen Reagents Market
Market Introduction
The North America acetaminophen reagents market has been segmented into the US, Canada, and Mexico. The US dominated the North America acetaminophen reagents market in 2020. The US is the largest market for acetaminophen reagents at a global level. The market's growth is attributed to increasing adoption of acetaminophen testing and product penetration. In addition, the growing incidences of overdose of acetaminophen and various risks associated with that have led to the growth of the market indirectly as the testing calls for new and advanced regents. According to the journal of hepatology, in the United States alone, acetaminophen overdose results in roughly 500 deaths per year, as well as close to 10,000 hospitalizations and 50,000 emergency room visits due to the same reasons. Moreover, the country has well-developed healthcare facility centers equipped with highly advanced equipment and instruments. In addition, few companies are engaged in developing the reagents to check the toxicity of acetaminophen. For instance, Sekisui’s Diagnostic Acetaminophen-L3K assay is used for quantitative measurement of acetaminophen to check its overdose toxicity. Thus, owing to the above-mentioned factors, the market is likely to grow during the forecast period.
In case of COVID-19, North America is highly affected specially the US. North America witnessed growing number of COVID-19 cases since its outbreak. North America is one of the most important regions for adopting and growing new technologies due to flattering government policies to boost innovation, a vast industrial base, and high purchasing power, mainly in developed countries such as the US and Canada. Hence, any impact on the industries operations’ affects the region's economic growth. As a result, healthcare systems were overburdened, and the delivery of medical care to all patients became a challenge in the region and the sudden surge in number of infections led to shortage of emergency health supplies. In order to manage the outbreak, government took preventive measures including countrywide lockdowns and social distancing policies. In addition, pharmaceuticals and medical device industry faced negative impact of this pandemic. As the COVID-19 pandemic continues to unfold, the companies faced difficulties in managing their operations. Many companies offering acetaminophen reagents having their business operations in the United States were severely impacted due to disrupted and restricted company’s ability to distribute products, as well as temporary closures of facilities. Moreover, market players also witnessed disruption in their business operations, slumped demand for products had marginal negative impact on the North America acetaminophen reagents market.
Market Overview and Dynamics
The North America acetaminophen reagents market is expected to grow from US$ 205.24 million in 2021 to US$ 292.28 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028. In the market, there is the presence of limited key players. Therefore, they have the vast opportunity to build a trusted image among the customers, meet the surged demand for the products in the market, and adopt various strategies to gain maximum market share. The market players are focused on providing high-quality acetaminophen reagents for immunoassay testing and enzymatic assay. In addition, the growing product adoption by the pathology centers and hospitals is anticipated to propel the demand for acetaminophen reagent and offer steady revenue generation to the players in the coming years. Moreover, several economies are expected to increase the growth potential of acetaminophen reagents manufacturers during the forecast period. In the coming years, the markets in the economies would offer lucrative growth opportunities for the major players to expand their business and geographic reach due to the rise in overdose cases, increase in awareness about drug overdose in these economies and the surge in need to diagnose the medicine level in the patients to provide better treatment. Also, the high investments in healthcare and up-gradation of laboratory infrastructure in several countries that will eventually support the need for various testing methods to check drug overdose, which is likely to boost the acetaminophen reagents market growth in the future. Therefore, the increasing number of acetaminophen overdose cases and limited players in the market would offer significant opportunities for the North America acetaminophen reagents market during the forecast period.
Key Market Segments
In terms of product, the antibody/substrate reagent segment accounted for the largest share of the North America acetaminophen reagents market in 2020. In terms of application, the enzymatic assays segment held a larger market share of the North America acetaminophen reagents market in 2020. Further, the hospitals segment held a larger share of the North America acetaminophen reagents market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America acetaminophen reagents market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Abbott; American Screening Corporation, Inc.; Beckman Coulter, Inc.; Bio-Rad Laboratories, Inc.; Biorbyt Ltd.; EKF Diagnostics; Randox Laboratories, Ltd.; Sekisui Diagnostics; Siemens Healthineers AG; and Thermo Fisher Scientific Inc. among others.
Reasons to buy report
North America Acetaminophen Reagents Market Segmentation
North America Acetaminophen Reagents Market - By Product
North America Acetaminophen Reagents Market -
By Application
North America Acetaminophen Reagents Market -
By End User
North America Acetaminophen Reagents Market - By Country
North America Acetaminophen Reagents Market - Company Profiles
Strategic insights for the North America Acetaminophen Reagents provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 205.24 Million |
| Market Size by 2028 | US$ 292.28 Million |
| Global CAGR (2021 - 2028) | 5.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Acetaminophen Reagents refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America Acetaminophen Reagents Market is valued at US$ 205.24 Million in 2021, it is projected to reach US$ 292.28 Million by 2028.
As per our report North America Acetaminophen Reagents Market, the market size is valued at US$ 205.24 Million in 2021, projecting it to reach US$ 292.28 Million by 2028. This translates to a CAGR of approximately 5.2% during the forecast period.
The North America Acetaminophen Reagents Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Acetaminophen Reagents Market report:
The North America Acetaminophen Reagents Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Acetaminophen Reagents Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Acetaminophen Reagents Market value chain can benefit from the information contained in a comprehensive market report.
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