(PharmaNewsWire.Com, March 18, 2020 ) According to the new market research report " Infectious Disease Diagnostics Market by Product & Service (Assay, Kit & Reagent, Instruments), Disease Type (Hepatitis, HIV, HAI, HPV, TB, Influenza), Technology (Immunodiagnostics, PCR, NGS), End User (Hospital, Research Institute) - Global Forecast to 2022 ", published by MarketsandMarkets™, The global infectious disease diagnostics market was valued at USD 13.93 Billion in 2016 and projected to reach USD 19.35 Billion in 2022, at a CAGR of 5.6%.
The market is broadly segmented into assays, kits, & reagents; instruments; and services & software based on product & service. The assays, kits, & reagents segment accounted for the largest share of the global market and is expected to register the highest CAGR during the forecast period. The increasing number of infectious disease diagnostic tests carried out; easy accessibility to a wide range of reagents; and the growing need for reliable, specific, and faster detection of infectious diseases in the early stages are the key factors driving the IDD assays, kits, & reagents market.
Based on the disease type, the market is segmented into hepatitis, HIV, HAIs, CT/NG, HPV, TB, Influenza, and other diseases. The hepatitis diagnostics segment accounted for the largest share of the global market in 2017. The dominant share of this segment can be attributed to the rising prevalence of hepatitis B and C, the availability of a large number of hepatitis diagnostic tests, and increasing number of HIV/Hepatitis co-infections.
The infectious disease diagnostics market is segmented into major seven technologies, namely, immunodiagnostics, clinical microbiology, PCR, INAAT, DNA sequencing & NGS, DNA microarrays, and other technologies. In 2017, the immunodiagnostics segment accounted for the largest share of the global market. The large share of this segment can be attributed to the increasing use of immunoassays in POC infectious disease testing, development of novel tests, rising trend of automation, and increasing awareness about health and fitness.
On the basis of end user, the global market is segmented into hospitals/clinical laboratories, reference laboratories, physician offices, academic/research institutes, and other end users. In 2017, the hospitals/clinical laboratories segment accounted for the largest share of the global market. Also, this segment is expected to grow at the highest CAGR during the forecast period due to the large number of diagnostic tests carried out in hospitals.
What Drives the Market?
Growth in this market is primarily driven by the increasing global prevalence of infectious diseases, shift in focus from centralized laboratories to decentralized point-of-care testing, and growth in funding for research on infectious disease diagnostics
Geographical Growth Analysis:
North America accounted for the largest share of the global market. This large share can be attributed to the presence of a highly developed healthcare system, increasing prevalence of infectious diseases, the presence of a large number of leading national clinical laboratories, and easy accessibility to technologically advanced instruments in the region.
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