The global enteric disease testing market is expected to reach USD 4.2 billion by 2025 according to a new study by Grand View Research Inc. Increasing demand for rapid diagnosis in order to treat diseases such as cholera, and other diarrheal diseases, rise in the aging population accompanied with unhygienic living conditions and growing application of medical testing for enteric diseases are expected to drive the market over the forecast period.
The growth is further attributed to rising healthcare expenditure, supportive government initiatives, and augmenting disease prevalence rate. Economic and environmental factors such as poor sanitation and rising population living below the poverty line with no access to hygienic food and water supply are attributed to growing incidence rate of the infections and thus propel the market growth.
According to database of Bill and Melinda Gate Foundation, enteric diseases were responsible for about 500,000 deaths each year and these are anticipated to increase further. The highest mortality rate was observed amongst people above 75 years of age followed by children under 5 year of age.
Strategic initiatives by healthcare federal bodies such as the WHO and UNICEF, to manage the disease fatality effectively are expected to assist market growth. These agencies are working towards promoting widespread testing of people for such infections by conducting awareness programmes and healthcare camps. They also fund local agencies in third world countries to limit the spread of these infections.
Bacterial enteric disease testing market is expected to dominate the market in 2025 with revenue share of over 60.32% in 2016 due to higher occurrence of these infections. According to research conducted by Johns Hopkins Bloomberg School of Public Health, around four to six million people die annually due to bacterial infection induced diarrhea.
Parasitic enteric disease testing market is expected to register significant growth with CAGR of 1.9%. The WHO has estimated over 200 million people to be infected annually by parasites such as giardia lamblia, cryptosporidium and E. histolytica.
North American region is anticipated to contribute for 26.55% revenue in 2025, owing to rising geriatric population base, increasing number of immigrants, and rising patient awareness levels coupled with relatively higher healthcare expenditures in the region.
Asia Pacific region is projected to reach over USD 1.0 billion by registering lucrative growth rate in 2025. Government efforts in countries such as Japan, China, and India to increase awareness and promote higher testing are expected to drive the market over the forecast period.
Major market players are Alere Inc., Quest Diagnostics, Becton Dickinson & Company, bioMerieux, Bio-Rad Laboratories and Cepheid.
Industry players are constantly fueling the market with new product launches or upgrading the existing technology. In January 2015, Biomerica filed a patent application with the U.S. Patent and Trademark Office for a test used in detection of gastrointestinal disorder.
Apart from technology innovation, many industry players are collaborating to use each other's strength and are formulating strategic alliances in order to incur higher profits. For instance, in May 2017, Quest diagnostics announced collaboration with PeaceHealth to enhance the service through high value design and innovation.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: +1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected]