Infectious Disease Diagnostics Market is Expected to Reach $31.5 billion | MarketsandMarkets™
Chicago, Jan. 30, 2024 (GLOBE NEWSWIRE) -- *Infectious Disease Diagnostics market* in terms of revenue was estimated to be worth $21.4 Billion in 2023 and is poised to reach $31.5 billion by 2028, growing at a CAGR of 8.0% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The increasing awareness of the importance of early disease diagnosis is poised to significantly boost the adoption of infectious disease diagnostics products. As individuals become more conscious of the benefits associated with early detection, there is a natural inclination towards seeking preventive healthcare measures, including regular screenings and diagnostic tests. This is expected to drive the infectious disease diagnostics market. On the other hand, an unfavorable reimbursement scenario may restrain this market’s growth to a certain extent.
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*Infectious Disease Diagnostics** Market** Scope:*
*Report Coverage* *Details*
Market Revenue in 2023 $21.4 Billion
Estimated Value by 2028 $31.5 billion
Growth Rate Poised to grow at a CAGR of 8.0%
Market Size Available for 2021–2028
Forecast Period 2023–2028
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product & Service, Type of Testing, Sample Type, Technology, Disease Type, and End User
Geographies Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Increased growth opportunities in emerging economies
Key Market Driver Rising prevalence of infectious diseases
Over the years, the infectious disease diagnostics market has witnessed significant technological advancements. The technologies that power infectious disease diagnostics are rapidly evolving to help overcome some of the challenges associated with utilizing diagnostic tests, including improving their clinical utility. In recent years, quantitative real-time PCR (qPCR) has gained popularity for pathogen detection as it only requires less than five hours for testing. It is simple and reproducible with improved quantitative capacity over conventional PCR. Advancements in PCR have also led to the development of the isothermal amplification method. Next-generation sequencing (NGS) technology has been replacing first-generation sequencing or Sanger sequencing over the years. NGS is available at a lower cost, and it also requires smaller amounts of DNA to produce accurate and reliable data.
Based on product & service, the global infectious disease diagnostics market is broadly classified into reagents, kits, and consumables, instruments, and software & services. In 2022, the largest market share was held by the reagents, kits, and consumables segment. The primary drivers for the segment's growth include the rising volume of infectious disease diagnostic tests and the availability of a diverse array of reagents.
Categorized by technology, the infectious disease diagnostics market is broadly classified into immunodiagnostics, clinical microbiology, polymerase chain reaction, isothermal nucleic acid amplification technology, DNA microarray, DNA sequencing & next-generation sequencing, and other technologies.
In 2022, the largest share of the infectious disease diagnostics market was held by immunodiagnostics. Advances in technology and automation have enhanced the efficiency and reliability of immunodiagnostic tests. Automated systems allow for high-throughput testing, reducing the turnaround time and increasing overall productivity.
Based on end user, the infectious disease diagnostics market is segmented into hospitals & clinics, diagnostic laboratories, academic research institutes, and other end users. In 2022, the diagnostic laboratories segment accounted for the largest share of this market. Diagnostic laboratories are equipped with advanced technologies and instruments necessary for conducting a variety of infectious disease tests; this technological infrastructure supports the adoption of cutting-edge diagnostic methods.
The global infectious disease diagnostics market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. During the forecast period, the Asia Pacific market is estimated to experience the highest CAGR. Many countries in the Asia Pacific region have been experiencing steady growth in healthcare expenditure. Growth in this market can be attributed to the increasing prevalence of infectious diseases, the growing per capita income, and the presence of high-growth markets in the region.
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*Infectious Disease Diagnostics market major players covered in the report, such as:*
· Abbott (US)
· Thermo Fisher Scientific Inc. (US)
· F. Hoffmann-La Roche Ltd. (Switzerland)
· bioMérieux (France)
· Siemens Healthineers AG (Germany)
· Danaher (US)
· Hologic, Inc. (US)
· Becton, Dickinson and Company (US)
· Revvity (US)
· QIAGEN (Netherlands)
· Seegene Inc. (South Korea)
· Grifols, S.A. (Spain)
· DiaSorin S.p.A (Italy)
· Bio-Rad Laboratories, Inc. (US)
· Sysmex Corporation (Japan)
· QuidelOrtho Corporation (US)
· Meridian Bioscience (US)
· Genetic Signatures Ltd. (Australia)
· OraSure Technologies (US)
· Trinity Biotech (Ireland)
· Chembio Diagnostics, Inc. (US)
· Co-Diagnostics, Inc. (US)
· ELITech Group (France)
· Epitope Diagnostics, Inc. (US)
· Trivitron Healthcare (India)
· Meril Life Sciences Pvt. Ltd. (India)
· InBios International, Inc. (US)
· Vela Diagnostics (Singapore)
· Uniogen Oy (Finland)
· and Among Others
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*This report categorizes the infectious disease diagnostics market based on product & service, type of testing, sample type, technology, disease type, end user, and region:*
*By Product & Service*
· Reagents, Kits, and Consumables
· Instruments
· Software & Services
*By Type of Testing*
· Laboratory Testing
· PoC Testing
*By Technology*
· Immunodiagnostics
· Polymerase Chain Reaction
· Clinical Microbiology
· Isothermal Nucleic Acid Amplification Technology
· DNA Sequencing & Next-generation Sequencing
· DNA Microarray
· Other Technologies
*By Disease Type*
· Hepatitis
· Hepatitis B
· Hepatitis C
· Other Hepatitis Diseases
· HIV
· Hospital-acquired Infections
· Mosquito-borne Diseases
· HPV
· Chlamydia trachomatis
· Neisseria gonorrhea
· Tuberculosis
· Influenza
· Syphilis
· Other Infectious Diseases
*By Sample Type*
· Blood, Serum, and Plasma
· Urine
· Other Sample Types
*By End User*
· Diagnostic Laboratories
· Hospitals & Clinics
· Academic Research Institutes
· Other End Users
*By Region*
· North America
· US
· Canada
· Europe
· Germany
· UK
· France
· Italy
· Spain
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· Rest of Asia Pacific
· Latin America
· Middle East & Africa
· GCC Countries
· Rest of Middle East & Africa
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*Key Market Stakeholders:*
· Senior Management
· End User
· Finance/Procurement Department
· R&D Department
*Report Objectives:*
· To define, describe, segment, and forecast the global infectious disease diagnostics market by product & service, type of testing, sample type, technology, disease type, end user, and region
· To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
· To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall infectious disease diagnostics market
· To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
· To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
· To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
· To track and analyze company developments such as product launches & approvals, partnerships, acquisitions, agreements, and other developments
· To benchmark players within the infectious disease diagnostics market using the Company Evaluation Matrix framework, which analyzes market players on various parameters within the broad categories of business strategy, market share, and product offerings
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