Global Infectious Disease Diagnostics Industry Poised for Steady Growth, Reaching US$3.48 Billion by 2032, Driven By 7% of CAGR | FMI

Posted on 2024-05-23 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Global Infectious Disease Diagnostics Industry

The Global Infectious Disease Diagnostics Industry is projected for significant expansion, driven by the increasing need for accurate and rapid diagnosis of infectious diseases. According to a recent analysis, the market is expected to grow at a promising Compound Annual Growth Rate (CAGR) of 7% from 2022 to 2032. This translates to a projected market size of US$3.48 billion by 2032, up from an estimated US$1.47 billion in 2022.

Infectious disease diagnostics is the process of identifying the presence of foreign antigens/organisms with the help of various diagnostic tools. Infectious disease conditions are highly prevalent in underdeveloped regions due to a lack of awareness of personal hygiene, minimal healthcare expenditures, and the absence of efficient physician services.

The high incidence of infectious diseases across emerging economies formulates a major share of the overall market. This has grabbed the attention of in vitro diagnostic device manufacturers to invest in emerging economies. These companies are making efforts to develop and commercialize cost-effective tools for infectious disease diagnosis. Presently, the gold standard tests available for bacterial infections and sexually transmitted disease diagnosis have a major market share. However, these tests are expected to be replaced by molecular techniques in the future.

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Global Infectious Disease Diagnostics Industry: Drivers and Restraints

Increasing incidence of infectious disease, growing adoption of advanced molecular techniques, and increasing interventions from government and non-profile organizations to reduce infectious disease in underdeveloped regions are endorsing the growth of the infectious disease diagnosis market.

In addition, the companies operating in disease diagnostic technologies are focusing on the development of novel diagnostics, which eventually provide a pace to the market growth. However, a lack of awareness of novel diagnostic solutions, the absence of compiled regulatory guidelines, and lower positivity rates due to inferior laboratory conditions would hinder the growth of the infectious disease diagnostics market.

Global Infectious Disease Diagnostics Industry: Overview

By test type, laboratory tests hold a prominent share owing to their lower cost and easy availability. The emerging economies are the prime contributors to the laboratory test segment especially in the Asia-Pacific region, owing to high positivity rates. Laboratory tests are the first line of diagnostics referred by physicians which include, blood tests, urine tests, spinal taps, throat swabs, and stool tests.

By techniques, molecular diagnostic techniques such as PCR, and other nucleic acid amplification tests would gain prominence in the developed regions. Based on the condition, bacterial infections, GI infections, and Sexually transmitted diseases have the largest share in the infectious disease testing market, owing to high prevalence, especially in emerging economies.

Infectious Disease Diagnostics Market: Region-wise Outlook

Emerging economies such as India and China are the primary consumers for the infection disease testing market, owing to growing urbanization which leads to an unhygienic environment in the cities. Countries belonging to the Asia-Pacific and Africa regions have the largest share in the infectious disease diagnosis market due to the high prevalence and incidence of infectious diseases, especially sexually transmitted, diseases and bacterial infections.

North America and European countries will ahead towards the adoption of high-end infectious disease diagnostics with the help of molecular technologies. This increasing adoption of premium diagnostic techniques would sustain the market share of infectious disease diagnostics in developed regions.

Global Infectious Disease Diagnostics Industry: Key Players

Key companies operational in the infectious diseases testing market are Becton Dickinson & Company, Cepheid Inc., Abbott Laboratories, BioMerieux, Hologic Inc., Bio-Rad Laboratories Inc., Danaher Corporation, Affymetrix, Alere Inc., and DiaSorin. These companies are majorly focusing on getting approval for the commercialization of their novel product launch. Recently, in 2015, Bio-Rad Laboratories, Inc. got approval from the US FDA for its BioPlex 2200 HIV Ag-Ab assay, which is used for HIV antigens and HIV antibodies.

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Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa, Rest Of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10-years.

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