(PharmaNewsWire.Com, July 07, 2020 ) 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.
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%. What Drives the Market?
1. Increasing global prevalence of infectious diseases 2. Shift in focus from centralized laboratories to decentralized point-of-care testing 3. Growth in funding for research on infectious disease diagnostics
The global prevalence of infectious diseases such as influenza, HPV, hepatitis, HIV, and tuberculosis is considerably high in spite of significant improvements in sanitation practices and medicine. Many of the currently available diagnostic techniques are slow, involve complex procedures, and lack specific identification of causative agents.
On the basis of disease type, the infectious disease diagnostics (IDD) market is segmented into a wide range of diseases. Hospital acquired infections (HAI) segment to record the highest CAGR during the forecast period. Growth in HAI segment can be attributed to the rising burden of MRSA infections, the increasing number of new products launched in the market, and increasing adoption of technologically advanced HAI diagnostic tests such as BD MAX Cdiff assay, Xpert MRSA NxG, and ARIES C. difficile Assay that are based on PCR technology
The geographical regions mapped in the report are: 1. North America 2. Europe 3. Asia-Pacific 4. Rest of the World (RoW)
North America accounted for the largest share of the global infectious disease diagnostics market. The large share of this region is mainly 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.
Some key players mentioned in the research report are:
Abbott Laboratories, Becton, Dickinson and Company, Biomérieux SA, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Luminex, Meridian Bioscience, Quidel, Roche Diagnostics, Siemens AG, Thermo Fisher Scientific
# Where will all these developments take the industry in the long term? # What are the upcoming trends for the infectious disease diagnostics market? # Which segment provides the most opportunity for growth? # Who are the leading vendors operating in this market? # What are the opportunities for new market entrants?
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