Infectious Disease Diagnostics Global Market to Reach $48.1 Billion by 2027
DUBLIN, Dec. 14, 2022 /PRNewswire/ -- The "Infectious Disease Diagnostics - Market Insights, Competitive Landscape and, Market Forecast - 2027" report has been added to ResearchAndMarkets.com's offering.
The Infectious Disease Diagnostic Market is estimated to register growth at a remarkable CAGR forecast during 2022-2027 owing to surge in prevalence of infectious diseases and growing concern regarding the incidences of pandemic and epidemics.
The global infectious disease diagnostics market was valued at USD 38.52 billion in 2021 and is estimated to grow at a CAGR of 3.80% during the forecast period (2022-2027) to reach USD 48.10 billion by 2027.
Among the noteworthy drivers of the infectious disease diagnostics market, the rising prevalence of infectious diseases turns out to be the major factor for accelerating the infectious disease diagnostics market. For instance, according to the World Health Organization (WHO) 2022, globally there were around 37.7 million people suffering from human immunodeficiency virus (HIV) in year 2020. One of the diagnostic test for HIV is Nucleic Acid Test (NAT), where the blood is usually drawn from the vein and tested for the presence of virus. The test also measures the viral load in a blood sample.
Further, rising incidences of epidemics and pandemics across the world is going to boost the market growth for infectious disease diagnostics. For example, the unprecedented outbreak of the COVID-19 pandemic became one of the most dangerous challenges the world has ever faced. It resulted in a humanitarian crisis with severe health and socio-economic consequences across the globe. According to WHO 2022, worldwide there have been 4,249,488 confirmed cases of COVID-19 at the end of 2020 and around 10,124,070 cases at the end of 2021. The diagnostic techniques such as Quantitative or Real-time reverse transcription polymerase chain reaction (qRT-PCR or rRT-PCR), immunoassays, and others were employed in the detection of SARS-CoV-2 virus which is the causative agent for COVID- 19.
Infectious Disease Diagnostics Market Segment Analysis:
Infectious disease diagnostic market by Type (Products [Instruments, Reagents and Kits] and Services), Technology (Genetic material based tests, Immunoassays, Microbial Cultures, and Others) Application (Viral, Bacterial, and Others) End-User (Hospitals, Diagnostic Labs, and Others) Geography (North America, Europe, Asia-Pacific, and Rest of the World)
Based on the technology segment of the infectious disease diagnostics market, the immunoassays category is projected to register a significant growth in the revenue of the infectious disease diagnosis market during the forecast period (2022-2027).
This can be ascribed to the superior diagnostic features associated with the immunoassays over other diagnostic tests. Immunoassays are based on antigen-antibody reactions and therefore they are highly sensitive and specific for the detection of infectious diseases.
Immunoassays are more readily available, accessible, easy to use, and have rapid turnaround time when compared to other methods of disease diagnosis. Also, the immunoassays are less costly than high tech instruments which are currently utilized for infectious disease diagnosis.
Although immunoassays are used as confirmatory tests along with other tests for infectious disease diagnosis but in certain diseases such as Lyme disease, syphilis, and others, they are primary means for disease detection.
Market Dynamics
Market Drivers
- Increasing Prevalence of Infectious Diseases
- Availability of Multiple Diagnostic Tests
- Increasing Incidences of Epidemics and Pandemics
Market Restraints and Challenges
- Risk of Sample Contamination During Transport and Storage
- High Cost of Diagnostic Tests
Market Opportunities
- Rising Technological Advancements Such as Use of AI
- Increasing Availability and Affordability of Rapid Diagnostic Kits
Key Topics Covered:
1. Infectious Disease Diagnostics Market Report Introduction
2. Infectious Disease Diagnostics Market Executive Summary
3. Regulatory Analysis
4. Infectious Disease Diagnostics Market Key Factors Analysis
5. Infectious Disease Diagnostics Market Porter's Five Forces Analysis
6. COVID-19 Impact Analysis on Infectious Disease Diagnostics Market
7. Infectious Disease Diagnostics Market Layout
8. Infectious Disease Diagnostics Market Global Company Share Analysis - Key 3-5 Companies
9. Infectious Disease Diagnostics Market Company and Product Profiles
10. KOL Views
11. Project Approach
12. About the Publisher
13. Disclaimer & Contact Us
Companies Mentioned
- BD, Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche Ltd.
- bioMerieux SA
- Abbott
- QIAGEN
- DiaSorin S.p.A.
- Meridian Bioscience, Inc.
- Quest Diagnostics
- Thermo Fisher Scientific Inc.
- Cepheid, Siemens Healthcare GmbH
- Ortho Clinical Diagnostics
- Biocare Medical, LLC
- Bruker
- Cardinal Health
- Chembio Diagnostics, Inc.
- Novacyt
- Trinity Biotech
- OJ-Bio Limited
For more information about this report visit https://www.researchandmarkets.com/r/lcfrtx
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