Infectious Disease Diagnostics Market : Rising technological advancements in infectious disease diagnostics
his 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.
According to the new market research report “Infectious Disease Diagnostics Market by Product (Reagents, Assays, Instrument), Test (Laboratory, POC), Technology (Immunodiagnostics, Microbiology, PCR, NGS, INAAT), Disease (COVID-19, Hepatitis, HAI, HIV, Influenza), End User – Global Forecast to 2026″, published by MarketsandMarkets™, the market is projected to reach USD 39.8 billion by 2026 from USD 28.1 billion in 2021, at a 7.2% CAGR.
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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 are factors supporting the growth of this market. Growth opportunities in growing economies provide lucrative opportunities for the players operating in the market.
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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.
The reagents, kits, and consumables segment accounted for the largest share of the market, by product & service segment, in 2020
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.
POC testing segment to register the highest CAGR during the forecast period
Based on the type of testing, the market has been segmented into laboratory testing and POC testing. In 2020, the POC testing segment accounted for the highest CAGR. This can be attributed to the need to closely monitor patient conditions and advantages such as faster diagnosis.
The COVID-19 segment accounted for the largest share of the infectious disease diagnostics market, by disease type segment, in 2020
Based on disease type, the market is segmented into COVID-19, HIV, HAIs, hepatitis, CT/NG, HPV, TB, influenza, and other infectious diseases. In 2020, the COVID-19 disease type segment accounted for the largest share of this market. Factors such as the increasing number of cases and the availability of many COVID-19 diagnostic tests are driving the growth of this market.
The diagnostic laboratories segment accounted for the largest share of the infectious disease diagnostics market, by end user segment, in 2020
Based on end user, the market has been segmented into diagnostic laboratories, hospitals & clinics, academic research institutes, and other end users. In 2020, diagnostic laboratories accounted for the largest share of the market. Diagnostic laboratories command the major share of the market owing to increased test volume of infectious diseases and strengthening healthcare infrastructure for efficient disease diagnosis and treatment.
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North America is the largest regional market for infectious disease diagnostics market
The infectious disease diagnostic market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the market. The large share of this region 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.
The major players operating in this infectious disease diagnostics market are Abbott Laboratories (US), F. Hoffmann-La Roche Ltd(Switzerland), bioMérieux SA (France), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Quidel Corporation(US), Hologic, Inc. (US), Siemens Healthineers AG (Germany), Becton, Dickinson and Company (US), PerkinElmer Inc. (US), QIAGEN (Netherlands), Grifols S.A. (Spain), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics (US), Luminex Corporation (US), Meridian Bioscience (US), Genetic Signatures (Australia), OraSure Technologies (US), Trinity Biotech Plc. (Ireland), Chembio Diagnostic Systems, Inc. (US), Seegene Inc. (South Korea), Co-Diagnostics, Inc. (US), ELITechGroup (France), Epitope Diagnostics, Inc. (US), Trivitron Healthcare (India), Meril Life Sciences Pvt. Ltd. (India), InBios International, Inc. (US), and ABACUS Diagnostica Oy (Finland).