Infectious Disease Diagnostics Market Is Expected To Grow At CAGR Of 5.9% From 2018 To Reach $12.88 Billion By 2025: Meticulous Research
Meticulous Research® – leading global market research company published a research report titled “Infectious Disease Diagnostics Market by Product (Assays and Kits, Instruments, and Software & Services), Technology (Immunodiagnostics, NGS, PCR), Disease Type (Hepatitis, HIV, HPV, Tuberculosis), End User, and Geography–Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global infectious disease diagnostics market is expected to grow at a CAGR of 5.9% from 2018 to reach $12.88 billion by 2025. The growth of this market will be driven by factors such as increasing global prevalence of infectious diseases, growing awareness for early detection using specific diagnostic tests, growth in funding for research on infectious disease diagnostics, and shift in focus from centralized laboratories to decentralized point-of-care testing. However, lack of unfavourable and inadequate reimbursement scenario may hamper the growth of this market to a certain extent.
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Key questins answered in the report-
1. Which are the high growth market segments in terms of products, technology, disease type, end user, and region/countries?
2. What was the historical market for infectious disease diagnostics market across the globe?
3. What are the market forecasts and estimates for the period 2018-2025?
4. What are the major drivers, opportunities, and challenges in the global infectious disease diagnostics market?
5. Who are the major players in the global infectious disease diagnostics market?
6. How is the competitive landscape and who are the market leaders in the global infectious disease diagnostics market?
7. What are the recent developments in the global infectious disease diagnostics market?
8. What are the different strategies adopted by the major players in the global infectious disease diagnostics market?
9. What are the geographical trends and high growth regions/ countries?
10. Who are the local emerging players in the global infectious disease diagnostics market and how do they compete with the global players?
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The global infectious disease diagnostics market study presents historical market data in terms of values, estimated current data, and forecasts for 2025-by product (assays and kits, instruments, and software & services), technology (immunodiagnostics, clinical microbiology, Polymerase Chain Reaction (PCR), isothermal nucleic acid amplification technology (INAAT), DNA sequencing & Next-Generation Sequencing (NGS), DNA microarray, and other technologies), disease type (hepatitis, HIV, hospital-acquired infections, HPV, tuberculosis, influenza, and other infectious diseases), end user hospital/clinical laboratories, reference laboratories, academics/research institutes, and other end user). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of product, assays and kits market commanded the largest share of the global infectious disease diagnostics market in 2018. This segment is also expected to grow at the highest CAGR during the forecast period due to increasing prevalence of infectious diseases, rising awareness among the population to identify the diseases, and increasing use of kits and reagents to identify the organism causing various diseases in lesser time and cost.
On the basis of technology, immunodiagnostics accounted for the largest share of the infectious disease diagnostics market in 2018. This is owing to the increasing use of immunoassays in POC infectious disease testing, development of novel tests, rising trend of automation, increasing awareness about health and fitness, and reduced complications associated with the instruments. Immunodiagnostic technologies are majorly used for the detection of infectious diseases. Radioimmunoassay and Enzyme Linked Immunosorbent Assay (ELISA) were the predominant techniques used for the diagnosis. Lower complexity, high-sensitivity, and its ease of use are the major factors contributed to the growth of the immunodiagnostic technology for the diagnosis of infectious diseases. However, polymerase chain reaction (PCR) segment is expected to grow significantly during the forecast period. Increasing adoption of the molecular diagnostic technology in place of antigen testing by immunoassays, increasing chances of detecting minute amount of protein biomarkers with high specificity; and growing probability of detecting infectious diseases to mitigate the result with high accuracy is expected to drive the growth of the molecular diagnostic technology in the infectious disease diagnostics market.
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On the basis of disease type, hepatitis segment held the largest share of the infectious disease diagnostics market. This is mainly attributed to the increasing prevalence of hepatitis B & C infection, rising susceptibility of the geriatric population, growing awareness among the population, and increasing availability of various molecular diagnostic technologies. Hepatitis is a result of the inflammation of liver which is the key organ that processes nutrients, filters the blood, and fights the infections. Hepatitis is most commonly caused by viral infection. Various types of diagnostic tests are designed to identify the hepatitis virus and thereby providing both prevention and treatment services to the patient population. Early detection of this virus HBV and HCV infection enables the patient to receive necessary care and treatment to prevent the progression of liver diseases. Traditional and molecular techniques are used for the identification of hepatitis virus.
On the basis of end user, hospital/clinical laboratories segment held the major share in 2018. This is primarily attributed to the increasing number of outpatients for infectious diseases, increasing hospital expenditures, growing technological advancement for diagnostic platforms in hospitals, and increasing number of skilled professionals. The hospital/clinical laboratories process more samples in a very less time due to the well equipped system and presence of skilled professionals. Hospital/clinical laboratories are commonly used by the diagnosis of samples obtained from the hospital inpatients as well as the outpatients who are being seen by the hospital-affiliated physicians. A hospital lab consists of various sections for testing which focuses on particular methods or techniques for the investigation of the sample specimens.
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(Get key industry insights spread across 167 pages with 86 market data tables & 34 figures & charts from the report)
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, and U.K.), Asia-Pacific (China, and Japan), Latin America, and Middle East & Africa. North America commanded the largest share of the global infectious disease diagnostics market in 2017, followed by Europe and Asia Pacific. The highest share of North American region in the infectious disease diagnostics market is primarily attributed to the growing healthcare sector, increasing need to treat various infectious diseases, increasing healthcare expenditure, growing demand of point-of-care testing, increase in the research and development coupled with the development of novel advanced technologies for diagnosis, and large number of patient population.
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Asia Pacific the Fastest Growing Regional Market
Asia Pacific region is expected to be the fastest growing geographic market for infectious disease diagnostics market with countries, such as China, Japan, India and Singapore among others are being the largest contributors to the growth of the market. Additionally, rapid urbanization, increasing investments by healthcare providers towards infrastructure improvement, need to manage growing burden of infectious diseases, and government efforts to improve accessibility of diagnostic services are expected to equally influence the overall growth of the infectious disease diagnostics market during the forecast period.
The major players operating in the global infectious disease diagnostics market are Abbott Laboratories (U.S.), Danaher (U.S.), Bio-Rad Laboratories (U.S.), bioMérieux SA (France), F. Hoffmann-La Roche Ltd (Switzerland), BD (U.S.), DiaSorin S.p.A. (Italy), Meridian Bioscience, Inc. (U.S.), Quidel Corporation (U.S.), and Thermo Fisher Scientific Inc. (U.S.) among others.
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