(PharmaNewsWire.Com, April 10, 2020 ) According to a new market research report “Sepsis Diagnostics Market by Technology (Microbiology, Molecular Diagnostic, Immunoassay, Biomarkers), Product (Blood Culture Media, Instruments), Method (Automated), Test Type (Lab, POC), Pathogen (Bacterial, Fungal), End-User - Global Forecast to 2023” published by MarketsandMarkets.
The growing number of surgical procedures, influx of novel sepsis diagnostic products, high incidence of hospital-acquired infections, funding for sepsis-related research activities, and the commercialization and availability of a wide variety of approved sepsis diagnostic devices are also supporting the growth of this market. The base year considered for the study is 2017, and the forecast period for the study is between 2018 and 2023.
The Global Sepsis Diagnostics Market is projected to reach USD 869.7 million by 2027 from USD 396.6 million in 2018, at a CAGR of 9.1%.
The sepsis diagnostics market is primarily driven by the rising prevalence of sepsis across the globe. Factors such as the rising geriatric population, growing number of surgical procedures, high incidence of hospital-acquired infections, and the commercialization and availability of a wide variety of approved sepsis diagnostic devices are also supporting the growth of this market. However, lack of established reimbursement policies for sepsis and the high cost of automated diagnostic devices are the major factors restraining the growth of this market across the globe.
Driver: High incidence of sepsis in adult population The prevalence of sepsis has increased significantly over the last decade, and the condition is responsible for more number of deaths than other disease conditions, such as bowel and breast cancer combined.
The major factors responsible for the significant growth in the prevalence of sepsis include the rising geriatric population, development of drug-resistance among individuals, and rise in virulent varieties of infections. The clinical diagnosis of sepsis infections in geriatric patients is a challenging task.
In addition, aging increases the risk of a sudden deterioration in a patient’s condition from sepsis to severe sepsis and septic shock. Thus, sepsis diagnostic instruments play a key role in the accurate and timely diagnosis of the condition in geriatric patients.
Restraints: High cost of automated diagnostic devices Every year, a large number of people contract sepsis worldwide, and the mortality rate due to sepsis is very high in comparison with other disease conditions. Early and accurate diagnosis of sepsis is very crucial in patients, as the condition can be managed effectively through proper medication and care. These devices are easy to use, fast, and have advanced features, owing to which they cost more as compared to conventional blood culture tests.
For instance, the cost of molecular diagnostic tests is between USD 300 and USD 3,000, which is very high as compared to the cost of blood culture tests that are priced as low as ~USD 28–35. Thus, government hospitals (especially in emerging nations) and academic research laboratories generally cannot afford such systems as they have limited budgets, thereby hindering market growth.
Asia Pacific is expected to register the highest growth rate during the forecast period Geographically, the sepsis diagnostic market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected register highest growth during the forecast period, owing to the growing prevalence of sepsis in APAC countries, rising focus of global players in this region, developing healthcare infrastructure, and rising government support for sepsis-related research.
Leading Companies bioMérieux (France), T2 Biosystems (US), Luminex (US), Thermo Fisher Scientific (US), Bruker (US), Abbott (US), Roche (Switzerland), Danaher (US), Becton, Dickinson, and Company (US), EKF Diagnostics (UK), Immunexpress (Australia), Response Biomedical (Canada), Axis-Shield Diagnostics (UK), CytoSorbents (US), and Mitsubishi Chemical Europe (Germany).
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