Infectious Disease Diagnostics Market worth $39.8 billion by 2026 – Growing Awareness for Early Disease Diagnosis

PUNE, India, 2021-Aug-10 — /EPR Network/ —

The Key Growth Elements in Detailed?

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 disease diagnostics market.

Worldwide Growth Opportunities in Terms of Revenue:

The Global Infectious Disease Diagnostics Market size is projected to reach USD 39.8 billion by 2026 from USD 28.1 billion in 2021, at a CAGR of 7.2%.

“In 2020, reagents, kits, and consumables segment accounted for the largest share of the market”

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.

“In 2020, immunodiagnostics segment accounted for the largest share in the market”

The infectious disease diagnostics market is segmented into immunodiagnostics, polymerase chain reaction (PCR), clinical microbiology, isothermal nucleic acid amplification technology (INAAT), DNA sequencing & NGS, DNA microarrays, and other technologies. In 2020, the immunodiagnostics segment accounted for the largest share. This can be attributed to the increasing use of immunoassays in COVID-19 testing, POC infectious disease testing, the development of novel immunodiagnostic tests, and the rising trend of automation.

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Regional Growth, Development and Demand Analysis:

The Infectious Disease Diagnostics 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.

Major Key Players Mentioned in the research report are:

The major players operating in this 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).

Abbott Laboratories accounted for the largest share of the infectious disease diagnostics market in 2020. Abbott Laboratories is a leading player in the market. The launch of the ID NOW POC testing system by the company is expected to support the growth of its infectious disease diagnostics segment. Abbott Laboratories operates through 291 international and 100 domestic subsidiaries and has a strong geographical presence.

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Recent Developments in Infectious Disease Diagnostics Market:

• In March 2021, Roche Diagnostics Launched cobas SARS-CoV-2 Variant Set 1 Test to help monitor emerging coronavirus mutations.
• In February 2021, Thermo Fisher Scientific acquired Mesa Biotech (US) to expand the benefits of molecular diagnostics at the point of care.
• In March 2020, Abbott Laboratories launched the ID NOW COVID-19 Test.