Infectious Disease Diagnostics Market 2027 Investment Analysis To Obtain The Exact Specification On Future Growth
Pathogens such as bacteria, viruses, fungi, and parasites cause infectious diseases. Infectious diseases are transmitted from person to person either directly or indirectly via insect bites or other vectors such as food, soil, water, and air. The identification of disease-causing agents by evaluating the symptoms displayed by the afflicted individual is known as diagnosis.
The global infectious disease diagnostics market is estimated to account for US$ 1,131.4 Mn in terms of value in 2020 and is expected to reach US$ 1,841.2 Mn by the end of 2027.
Global Infectious Disease Diagnostics Market: Drivers
The worldwide infectious disease diagnostics market is expected to rise due to the growing prevalence of infectious disorders. For example, as of February 23, 2020, there were 76,936 documented cases of coronavirus disease 2019 in mainland China and 1,875 instances of coronavirus disease 2019 in areas beyond mainland China, with 2,462 deaths
Furthermore, funding for infectious illness diagnostics is projected to help the market develop. For example, a research conducted by the University of Glasgow won US$ 1.85 million in funding from the Global Challenges Research Fund in January 2018. (GCRF).. This project will create novel parasite disease tests as well as quick testing in remote areas to aid in the diagnosis and treatment of infectious diseases.
Asia Pacific region held dominant position in the global infectious disease diagnostics market in 2018, accounting for 27.0% share in terms of value, followed by Africa.
Global Infectious Disease Diagnostics Market: Restraints
The market’s expansion is projected to be hampered by the high cost of molecular-based test kits. Infectious disease diagnosis relies heavily on molecular-based test kits. The expensive cost of molecular test kits, on the other hand, is preventing widespread adoption, particularly in developing nations.
The market’s growth is also projected to be limited by a lack of reimbursement for certain infectious disorders. The Centres for Medicare & Medicaid Services, for example, lowered compensation for the examination and management of difficult cases, such as those with infectious infections, in July 2018.
Global Infectious Disease Diagnostics Market: Opportunities
The introduction of low-cost, reliable test kits is likely to provide profitable growth prospects for market players. For infectious disorders, there are currently very few effective diagnostic test kits available. The lack of adequate diagnostic tools, as well as the high cost of existing test kits, has prompted the development of low-cost test kits with high specificity and sensitivity.
Furthermore, R & D in diagnostic kit is likely to contribute to market expansion. For example, in September 2019, researchers from University of Helsinki, Finland, reported that the antibody response against Puumala orthohantavirus can be measured at a high sensitivity and specificity with the unorthodox point-of-care assay LFRET, a novel rapid assay for anti-tissue transglutaminase antibody detection, using urine as sample matrix.
Diagnostic centres segment in the global infectious disease diagnostics market was valued at US$ 462.1 Mn in 2018 and is expected to reach US$ 958.7 Mn by 2027 at a CAGR of 8.5% during the forecast period.
Market Trends/Key Takeaways
The development of point-of-care assays for the detection of various infectious diseases receives a lot of attention. Without sending the sample to a diagnostic laboratory for examination, point-of-care tests deliver faster findings. Higher demand for point-of-care tests is projected as a result of this issue. Companies like Alere and Cepheid are concentrating on building analytical systems that offer findings for molecular assays that are close to the patient.
Diagnostic tests now available are sluggish and have low specificity and sensitivity. As a result, the market for whole microbial genome sequencing is shifting from combination assays to quick diagnostic tests.
Global Infectious Disease Diagnostics Market: Key Developments
To increase their market share, major players in the market are focusing on offering new services. For example, in March 2020, Quest Diagnostics announced the debut of a coronavirus (COVID-19) test service that aids in the presumptive detection of nucleic acid in respiratory specimens of patients who match the CDC’s clinical criteria for COVID-19 testing.
Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in March 2020, Thermo Fisher Scientific Inc. announced to acquire QIAGEN N.V., a provider of molecular diagnostics and sample preparation technologies.
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Infectious Disease Diagnostics Market – Competitive Landscape
Key players functioning in the global prosthetic liners market consists of Becton Dickinson & Company, Cepheid, Inc., Abbott Laboratories, BioMerieux SA, Hologic, Inc., Danaher Corporation, Thermo Fisher Scientific, Inc., Roche Diagnostics, Alera Inc., DiaSorin S.p.A., Quidel Corporation, and Bio-Rad Laboratories, Inc.
Main points in Infectious Disease Diagnostics Market Report Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Infectious Disease Diagnostics Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Infectious Disease Diagnostics Industry Impact
Chapter 2 Global Infectious Disease Diagnostics Competition by Types, Applications, and Top Regions and Countries
2.1 Global Infectious Disease Diagnostics (Volume and Value) by Type
2.3 Global Infectious Disease Diagnostics (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Infectious Disease Diagnostics Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Infectious Disease Diagnostics Market Analysis
Chapter 6 East Asia Infectious Disease Diagnostics Market Analysis
Chapter 7 Europe Infectious Disease Diagnostics Market Analysis
Chapter 8 South Asia Infectious Disease Diagnostics Market Analysis
Chapter 9 Southeast Asia Infectious Disease Diagnostics Market Analysis
Chapter 10 Middle East Infectious Disease Diagnostics Market Analysis
Chapter 11 Africa Infectious Disease Diagnostics Market Analysis
Chapter 12 Oceania Infectious Disease Diagnostics Market Analysis
Chapter 13 South America Infectious Disease Diagnostics Market Analysis
Chapter 14 Company Profiles and Key Figures in Infectious Disease Diagnostics Business
Chapter 15 Global Infectious Disease Diagnostics Market Forecast (2021-2027)
Chapter 16 Conclusions
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