(PharmaNewsWire.Com, December 03, 2020 ) According to the new market research report by MarketsandMarkets, 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%.
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. Region Covered in Infectious Disease Diagnostics Market :
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.
Based on tools, the market segmented into oligonucleotides and synthetic DNA, enzymes, cloning technology kits, synthetic cells, chassis organisms and xeno-nucleic acid. In 2019, the oligonucleotides and synthetic DNA segment accounted for the largest share of the market, followed by enzymes. The large share of the segment can be attributed to the rising demand for synthetic DNA, synthetic RNA, and synthetic genes, which are used in a wide range of research applications.
Based on technology, the Gene Synthesis market is segmented into gene synthesis, genome engineering, cloning, sequencing, site-directed mutagenesis, measurement & modeling, microfluidics, nanotechnology, and bioinformatics technologies. In 2019, the gene synthesis segment accounted for the largest share of the Gene Synthesis market.
Based on application, the Gene Synthesis market is segmented into environmental, medical, industrial, and food & agricultural applications. In 2019, the medical applications segment accounted for the largest share of the market, followed by industrial applications. The extensive research on new and better treatments, coupled with the availability of huge private and public funding for the discovery of novel therapies, is the primary driver for the medical applications segment.
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