(PharmaNewsWire.Com, June 25, 2021 ) Market growth is driven by the global prevalence of infectious diseases & onset of COVID-19 and the growing awareness for early disease diagnosis, shift in focus from centralized laboratories to decentralized POC testing and rising technological advancements.
[263 Pages Report] The global infectious disease diagnostics market size is projected to reach USD 39.8 billion by 2026 from USD 28.1 billion in 2021, at a CAGR of 7.2%.
This study involved four major activities in estimating the current size of the infectious disease diagnostics market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Market Dynamics
1. Global prevalence of infectious diseases and onset of COVID-19 2. Rising focus on R&D and funding in infectious disease diagnostics 3. Growing awareness for early disease diagnosis in developing countries 4. Rising technological advancements in infectious disease diagnostics 5.Shift in focus from centralized laboratories to decentralized POC testing
COVID-19 Impact on Global Infectious Disease Diagnostics Market
COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 moved from a regional crisis to a global pandemic in just a matter of a few weeks. The COVID-19 pandemic negatively affected the overall sales of most of the companies but had an positive impact on the infectious disease diagnostics market because of the use of infectious disease diagnostic methods for COVID-19 testing. Lockdowns resulting from the COVID-19 pandemic caused people to delay undergoing health checkups, thus affecting the number of tests being performed and sales of reagents.
Based on product & service, the infectious disease diagnostics market is segmented into reagents, kits, and consumables; instruments; and software & services. In 2020, the reagents, kits, and consumables segment accounted for the largest share of this market. The frequent purchase of these products due to their recurrent usage drives the market growth of this segment.
The infectious disease diagnostics market is segmented into immunodiagnostics, polymerase chain reaction (PCR), clinical microbiology, isothermal nucleic acid amplification technology (INAAT), DNA sequencing & NGS, DNA microarrays, and other technologies. In 2020, the immunodiagnostics segment accounted for the largest share. This can be attributed to the increasing use of immunoassays in COVID-19 testing, POC infectious disease testing, the development of novel immunodiagnostic tests, and the rising trend of automation.
The geographical regions mapped in the report are: 1. North America 2. Europe 3. Asia-Pacific 4. Latin America 5. Middle East & Africa
The global infectious disease diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the global infectious disease diagnostics market. The North American infectious disease diagnostics market’s growth can be attributed to the highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.
Some key players mentioned in the research report are:
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