Infectious Disease Diagnostics Market to Hit $37.94 Billion, Globally, by 2028 – Exclusive Report by The Insight Partners
Global infectious disease diagnostics market is growing at a CAGR of 6.8% from 2021 to 2028.
Pune, India., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Tuberculosis (TB) is the 13th most significant cause of mortality globally and the second leading infectious disease after COVID-19, according to the World Health Organization (WHO). According to the WHO, there were 1.5 million deaths due to TB in 2020 (including 214,000 HIV patients). WHO estimated that TB would affect 10 million individuals worldwide in 2020, including 1.1 million children, 3.3 million women, and 5.6 million men. Tuberculosis affects people of all ages and in all countries. Furthermore, in 2020, 30 high-TB-burden countries accounted for 86% of new TB cases. Two-thirds of the total comprises population from eight nations, with India leading in the rankings, followed by China, the Philippines, Indonesia, Nigeria, Pakistan, Bangladesh, and South Africa. Diagnostics are critical in defining the course of any medical treatment for infectious disorders. As a result, the increased prevalence of infectious diseases around the globe drives the infectious disease diagnostics market growth.
According to our new research study on “Infectious Disease Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Technology, Testing Type, Disease Indication, and End User,” the infectious disease diagnostics market size was US$ 23,890.61 million in 2021 and is expected to reach US$ 37,943.90 million by 2028; it is estimated to register a CAGR of 6.8% during 2021 to 2028.
The infectious disease diagnostics market growth is majorly driven by increase in the prevalence of infectious diseases and rise in demand for point-of-care diagnostic tests.
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Browse Comprehensive TOC on "Infectious Disease Diagnostics Market Forecast to 2028- COVID-19 Impact, and Global Analysis - by Product (Kits and Reagents, Instruments, and Software and Service ss), Disease Indication [HIV, Hepatitis, Healthcare- Associated Infections (HAIs), Human Papillomavirus (HPV), Tuberculosis (TB), Influenza, and Others Disease Indications ], Technology (Immunodiagnostics, Polymerase Chain Reaction, Next Generation Sequencing, Clinical Microbiology, and Others), Testing Type (Laboratory Testing and, Point of Care Testing), End User (Hospitals and Clinics, Pathology or Diagnostic Laboratories, Research Institutes, Home-Care Settings, and Others End User), and Geography"
List of Tables - 139
List of Figures - 91
No. of Pages – 226
Global Infectious Disease Diagnostics Market Analysis: Competitive Landscape and Key Developments
Danaher; Abbott; BD; Trinity Biotech; F. Hoffmann-La Roche Ltd.; Cardinal Health Inc.; bioMerieux SA; Bio-Rad Laboratories Inc.; AccuBioTech Co., Ltd.; and ACON Laboratories, Inc. are a few of the key companies operating in the infectious disease diagnostics market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In January 2022, Cepheid announced that Health Canada had issued Cepheid a medical device license for Xpert Xpress CoV-2/Flu/RSV plus, a rapid molecular diagnostic test for qualitative detection of the viruses causing COVID-19, Flu A, Flu B, and respiratory syncytial virus (RSV) infections from a single patient sample.
In December 2021, F.Hoffmann-La Roche Ltd announced the launch of the first infectious disease tests on the cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark. These include cobas HIV-1, cobas HBV, cobas HCV, cobas HIV-1/HIV-2 Qualitative, and the cobas omni Utility Channel kit. These launches expand the Roche Molecular portfolio offering by providing standardized performance and efficiencies across low, medium, and high-volume molecular laboratory testing needs.
Increase in the Prevalence of Infectious Diseases is Fueling the Growth of the Global Infectious Disease Diagnostics Market Growth:
Viruses, bacteria, parasites, fungi, and toxic compounds cause transmissible diseases. HIV is a significant public health concern all over the world. The Joint United Nations Programme on HIV/AIDS (UNAIDS) estimates that 37.7 million individuals will have HIV by 2020. It included 1.7 million children aged 0-14 and 36 million adults. Furthermore, more than half (53%) were females. In 2020, 1.5 million new HIV cases were recorded globally. Similarly, hepatitis is liver inflammation induced by a viral infection. According to the World Health Organization (WHO), around 58 million people globally have chronic hepatitis C virus infection, with 1.5 million new infections occurring each year.
Impact of COVID-19 Pandemic on Global Infectious Disease Diagnostics Market:
Countries around the globe were highly affected due to the outbreak of the Covid-19 pandemic. Countries such as the US, India, France, Germany, and Japan reported the highest numbers of COVID-19 positive cases. The US-registered highest number of cases and significant deaths due to the COVID-19 pandemic. The COVID-19 pandemic sparked a surge in demand for various Point-of-Care Testing (POCT) diagnostic kits for early detection and control of coronavirus spread. This also fueled the growth of point of care infectious disease diagnostics market. SARS-CoV-2 screening diagnostics were constantly being developed to meet the needs of markets with unique regulatory constraints. For example, in February 2022, Mylab Discovery Solutions launched CoviSwift, a point-of-care (POC) RT-PCR testing solution that may be utilized in-hospital labs, small labs, airports, and communities.
Moreover, In November 2021, Detect launched a new PCR-quality at-home COVID-19 quick molecular test to address testing needs at work, home, and school. Likewise, in March 2020, BioMedomics released a PoC COVID-19 test to identify blood antibodies within 15 minutes. As a result, the demand for infectious disease diagnostic products increased significantly, with many people suffering from coronavirus. Thus, increased production by the companies has resulted in profits, and the outbreak of COVID-19 has shown a positive impact on market growth.
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Global Infectious Disease Diagnostics Market: Segmental Overview
The global infectious disease diagnostics market, Based on product, has been segmented into kits and reagents, instruments, and software and services. In 2021, the kits and reagents held the largest market share in the product segment. However, the software and services segment is expected to grow fastest, with the highest CAGR during the forecast period.
The global infectious disease diagnostics market, based on disease indication, is segmented into HIV, hepatitis, healthcare-associated infections (HAIs), human papillomavirus (HPV), tuberculosis (TB), influenza, and other disease indications. The hepatitis segment held the largest share of the market in 2021. However, the healthcare-associated infections (HAIs) segment is anticipated to register the highest CAGR during the forecast period.
Based on technology, the global infectious disease diagnostics market has been segmented into immunodiagnostics, polymerase chain reaction, next-generation sequencing, clinical microbiology, and others. In 2021, the immunodiagnostics segment held the largest market share in the technology segment. However, the next-generation sequencing segment is expected to witness growth in its demand at the fastest rate, with the highest CAGR during the forecast period.
Based on testing type, the global infectious disease diagnostics market is differentiated into laboratory testing and point-of-care testing immunodiagnostics, polymerase chain reaction, next-generation sequencing, clinical microbiology, and others. In 2021, the immunodiagnostics laboratory testing segment held the largest market share in the testing type segment. However, the next-generation sequencing point-of-care testing segment is expected to grow at the fastest CAGR during the forecast period.
Based on end user, the global infectious disease diagnostics market is segmented into hospitals & clinics, pathology or diagnostic laboratories, research institutes, home care settings, and others. In 2021, the pathology or diagnostic laboratories segment held the largest market share in the end user segment. However, the home care settings segment is expected to grow in demand, with the highest CAGR during the forecast period.
Go through further research published by The Insight Partners:
Infectious Disease Diagnostic Testing Kit Market - Global Analysis and Forecast to 2030
Infectious Disease Rapid Diagnostic Testing Market - Global Analysis and Forecast to 2030
Biopharmaceuticals Market - Global Analysis and Forecast to 2028
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