Infectious Disease Testing Market Overview
The Infectious Disease Testing Market size is forecast to reach $23.45 billion by 2025, growing at a CAGR of 5.8% during the forecast period 2020-2025. Infectious disease is caused by bacteria, viruses, and others and has a huge impact on the Healthcare systems of the countries. Infectious disease testing is the process of identification of causative organisms for the primary diagnosis of diseases. Infectious diseases testing samples include blood, urine, and other bodily fluids. Growing demand for rapid diagnostic techniques over the current techniques owing to the long turnaround time and supportive government funding along with the growing awareness for early detection using specific Diagnostic tests is the major factor driving the growth of the market. The shift in focus from centralized laboratories to decentralized point-of-care testing services is set to further enhance the overall market demand for the Infectious Disease Testing Market during the forecast period 2020-2025.
Report Coverage
The report: “Infectious Disease Testing Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Infectious Disease Testing Market.
By Product & Service: Consumables, Instruments, and Software & Service
By Disease Type: Hepatitis, Human Immunodeficiency Virus, Human Papilloma Virus Tuberculosis, Influenza, and Others
By Technology: Immunodiagnostics, Clinical Microbiology, Polymerase Chain Reaction, DNA Microarray Technology, Next Generation Sequencing, and Others
By End Users: Hospital/ Clinical Laboratories, Reference Laboratories, Academics & Research Institutes and Others
By Geography: North America, Europe, Asia Pacific, and Rest of the World (RoW)
Key Takeaways
- North America dominated the Infectious Disease Testing Market in 2019 owing to the increasing investments by healthcare providers towards infrastructure, improvement and the need to manage the growing burden of infectious diseases. The Infectious Disease Testing Market scope for different regions will be provided in the final report.
- Increasing epidemics of infectious diseases requires continuous testing and changing regulatory policies to mandate the infectious disease testing for the general population is likely to aid in the market growth of the Infectious Disease Testing Market.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Infectious Disease Testing Market report.
- Unfavourable and inadequate reimbursement scenario is poised to create hurdles for the Infectious Disease Testing Market.
- Inquiry Before Buying
Infectious Disease Testing Market Segment Analysis - By Disease Type
The Hepatitis segment held the largest share in the Infectious Disease Testing Market in 2019 and is estimated to grow at a CAGR of 6.11% during the forecast period 2020-2025 owing to the increasing number of blood transfusions and donations, increasing prevalence of hepatitis B & C infections, rising susceptibility of the geriatric population, growing awareness among the population, and benefits offered by point of care instruments & kits. Growth in the HAI segment can be attributed to the rising burden of MRSA infections, the increasing number of new products launched in the market, and increasing adoption of technologically advanced HAI diagnostic tests such as BD MAX Cdiff assay, Xpert MRSA NxG, and ARIES C. difficile Assay that are based on PCR technology. HPV infections can be prevented if diagnosed in the early stages. Pap tests are the most preferred tests to detect cervical cancer. Rapid HPV diagnostics and real-time PCR are the most advanced methods which have 95% sensitivity to HPV and cover a broad range of genotypes. Growth in the influenza market can be attributed to the rising prevalence of influenza, growth in research funding for influenza diagnostics, and rising demand for faster diagnosis and control of influenza. Hepatitis is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Infectious Disease Testing Market Segment Analysis - By End Users
The Hospitals & clinics segment held the largest share in the Infectious Disease Testing Market in 2019. Hospitals/clinical laboratories primarily serve to conduct tests on samples collected from the inpatient and outpatient population. These laboratories perform IDD tests to identify or diagnose diseases and determine relevant treatments. Most of these laboratories are equipped with fully automated diagnostic instruments such as NGS, PCR, and mass spectrometry for providing better medical diagnostic results to patients. Compared to reference laboratories, hospital laboratories are more accessible and offer test results quickly. Furthermore, these laboratories provide flexibility in terms of scheduling specimen pickups. Hospitals & Clinics are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
Infectious Disease Testing Market Segment Analysis - Geography
North America dominated the Infectious Disease Testing Market in 2019 with a share of more than 36.12%, followed by Europe owing to the rapid urbanization, increasing investments by healthcare providers towards infrastructure improvement, need to manage the growing burden of infectious diseases, and government efforts to improve the accessibility of diagnostic services to enhance the prevention by developing products or platforms required for the diagnosis of infectious diseases. Further, changing regulatory policies to mandate the infectious disease testing for the general population fueled the growth of the market. Along with these, technology has integrated the existing manual operations and led to the development of a fully automated process. Thus, increasing the growth of the Infectious Disease Testing Market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the growing presence of a highly developed healthcare system, increasing prevalence of infectious diseases, the presence of a large number of leading national clinical laboratories, and easy accessibility to technologically advanced instruments in the region.
Infectious Disease Testing Market Drivers
Growing awareness about personalized medicine
Growing awareness about personalized medicine is increasing the growth of the Infectious Disease Testing Market. Diagnostic tests can be used to assess the efficacy of specific therapeutic agents in particular patients. With the help of diagnostic tests, patients who suffer disproportionately severe adverse effects from a given treatment or dosage can be identified. Moreover, diagnostic tests help in determining the optimal dosages for drugs whose therapeutic effects are known to vary widely among different patient groups. The extent or progression of a disease and preventive measures can be identified in patients through diagnostic tests. With the growing demand for personalized medicine, the demand for such diagnostic tests is expected to increase globally. Growing patient awareness about the benefits of personalized medicine is one of the key factors resulting in the increased use of molecular diagnostics and genomics & proteomics technologies in infectious disease testing. Thus, increasing the growth of the Infectious Disease Testing Market during the forecast period 2020-2025.
Increasing global prevalence of infectious diseases
Increasing global prevalence of infectious disease is increasing the growth of the Infectious Disease Testing Market. The global prevalence of infectious diseases such as influenza, HPV, hepatitis, HIV, and tuberculosis is considerably high in spite of significant improvements in sanitation practices and medicine. Many of the currently available diagnostic techniques are slow, involve complex procedures, and lack specific identification of causative agents. Owing to this, patients receive empiric, broad-spectrum antimicrobial therapy rather than appropriate therapies. This has resulted in the emergence of super-resistant microbes. Thus, increasing the growth of the Infectious Disease Testing Market during the forecast period 2020-2025.
Infectious Disease Testing Market Challenges
Unfavorable and inadequate reimbursement scenario
Some of the factors that are set to impede the growth of the Infectious Disease Testing Market are the unfavorable and inadequate reimbursement scenario.
Infectious Disease Testing Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Infectious Disease Testing Market. In 2019, the Infectious Disease Testing Market share is consolidated by the top ten players present in the market. Infectious Disease Testing Market, the top 10 companies are Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories, Inc., bioMérieux S.A., Thermo Fisher Scientific, F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, DiaSorin S.p.A., Meridian Bioscience Inc., and Quidel Corporation among others.
- We also publish more than 100 reports every month in "Lifesciences and Healthcare", Go through the Domain if there are any other areas for which you would like to get a market research study.
Comments
Post a Comment