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Press Release

Tuberculosis Diagnostics Market Size And Forecast By Test Types And Trend Analysis From 2013 to 2024 - Expected to Reach USD 3.1 billion

Reportlinker
Posted on: 15 Sep 16

PR Newswire

NEW YORK, Sept. 15, 2016

NEW YORK, Sept. 15, 2016 /PRNewswire/ -- The global tuberculosis diagnostics market is expected to reach USD 3.1 billion by 2024. Advent of advanced diagnostic methods such as Interferon-gamma Release Assay (IGRA), serological methods, and nucleic acid testing have resulted in the high usage rate of diagnostics. Moreover, Point of Care (POC) technologies such as antigen assays are also promoting the diagnosis rate of TB.

These advanced methods including POC diagnostics are affordable, accurate, simple, and yield quick results. Furthermore, the rising burden of TB is the primary factor responsible for the lucrative market growth. As per the World Health Organization, the global estimates of patients afflicted with TB were around 9.6 million in 2014. This high prevalence rate has led the government, healthcare organizations, research institutes, and market players to initiate endeavors directed toward containing the incidence of this infectious disease.

The increasing screening rate in the high burden regions, affordability of diagnostics, advanced methodologies, faster clinical decisions, and reduction in mortality rate are the focal areas of development. Improved preventive and curative diagnosis rates are the end results of these initiatives. This has led to a subsequent upsurge in the demand for diagnostic tests and the TB diagnostics market.

Further key findings from the study suggest:

Based on tests type, the tuberculosis diagnostics market is segmented into radiographic methods, diagnostic laboratory methods, nucleic acid testing, phage assay, detection of latent infection, cytokine detection assay, and detection of drug resistance.

Diagnostic laboratory tests dominated the test type segment with 38.0% market share in 2015 as they are cost efficient and easy-to-perform. Diagnostic laboratory tests include smear microscopy and culture-based tests. The high burden regions rely on these methodologies due to their financial and technical incapability to incorporate advanced technologies thus contributing to the growth of the diagnostic laboratory tests segment.

However, compromised accuracy and the longer processing time are the limiting factor for the diagnostics. Hence, healthcare agencies are striving to implement advanced techniques in the developing regions.

As a result, nucleic acid tests segment and the latent infection detection segment, which includes skin tests and IGRA, are likely to exhibit a profitable growth rate. These methods overcome the aforementioned limitations thus improving affordability, processing time and accuracy of the diagnostic method.

Drug resistance in tuberculosis is one of the primary concerns for healthcare professionals as improper treatment due to wrong drug regimen and incorrect dosage forms lead to the development of drug resistance in TB patients undergoing treatment. Hence, the drug resistance detection segment is also anticipated to witness lucrative growth.

Asia Pacific owing to its huge population base and high burden of TB dominated the global TB diagnostics market in 2015. As per the WHO, countries such as India, China, Afghanistan, and Indonesia are priority regions for control of this communicable disease.

The players in the TB testing market include Thermo Fisher Scientific, Inc., Hologic Corporation, Abbott Laboratories, Alere, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche AG, bioMérieux SA, Sanofi, Cepheid, Hain Lifescience GmbH, and QIAGEN.

New product launches, collaboration, mergers & acquisitions, and regional expansion are the key strategic initiatives undertaken by these industry players

For instance, in July 2016, bioMérieux launched a novel CE marked database and reagents kit VITEK MS for the identification of TB. This new product launch is anticipated to help the company increase its market share.
Read the full report: http://www.reportlinker.com/p04144387-summary/view-report.html

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tuberculosis-diagnostics-market-size-and-forecast-by-test-types-and-trend-analysis-from-2013-to-2024---expected-to-reach-usd-31-billion-300329067.html

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PR Newswire
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Last updated on: 15/09/2016

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