(PharmaNewsWire.Com, October 09, 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
Hepatitis diagnostics market formed the largest share. Around 70% to 90% of the people in these regions (below 40 years of age) are reportedly suffering from the disease and around 8% to 20% are carriers of this virus. Another factor contributing to the growth of this market is the increasing adoption of advanced technologies for the diagnosis of hepatitis B.
According to the new market research report by MarketsandMarkets, 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%.
Increased accessibility and the increasing number of IDD tests conducted are the key drivers for this segment. Globally, the volume of IDD tests is increasing mainly due to the rising geriatric population; increasing prevalence of infectious diseases; increased variety of reagents available and analytical techniques employed; and the continuous launch of newer, faster, and more reliable products.
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
North America to account for the largest market size during the forecast period.
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.
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