Insights on Global Infectious Disease Diagnostics Market Size & Share Calculated to Reach USD 42013.2 Million by 2027, Exhibit a CAGR of 6.9%: Report by Zion Market Research
PR Newswire
NEW YORK, May 18, 2022
NEW YORK, May 18, 2022 /PRNewswire/ -- As per Zion Market Research study, The global infectious disease diagnostics market was worth around USD 28152.7 million in 2021 and is estimated to grow to about USD 42013.2 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.9 percent over the forecast period. The report analyzes the digital remittance market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Key Industry Insights & Finding of the Infectious Disease Diagnostics Market Reports:
- As per the analysis shared by our research analyst, the Infectious Disease Diagnostics Market is expected to grow annually at a CAGR of around 6.9 % (2022-2028).
- Through the primary research, it was established that the Infectious Disease Diagnostics Market was valued approximately USD 28152.7 Million in 2021 and is projected to reach to roughly USD 42013.2 Million by 2028.
- The infectious disease diagnostics market is dominated by North America in 2020 and is expected to dominate the market during the forecast period due to the rise in occurrence of infectious diseases, presence of key players, development of the healthcare sector, presence of national clinical laboratories, advancement in technology for diagnostic instruments in the region, and an increase in awareness among the population regarding the availability of treatment devices.
- Asia-Pacific is expected to register the highest CAGR from 2021 to 2028, owing to an increase in the prevalence of infectious diseases, a rise in demand for early diagnosis, development of healthcare infrastructure, technological advancement in diagnostic testing, and government efforts to improve the accessibility of diagnostic services to enhance the prevention by developing products or platforms required for the diagnosis of infectious diseases.
Zion Market Research published the latest report titled as "Infectious Disease Diagnostics Market By Product (Reagents, Kits, and Consumables, Instruments, and Software & Services), By Type of Testing (Laboratory Testing, and POC Testing), By Technology (Immunodiagnostics, Clinical Microbiology, PCR, INAAT, DNA Sequencing & NGS, DNA Microarrays, and Other Technologies), By Disease Type (COVID-19, HIV, HAIs, Hepatitis, CT/NG, HPV, TB, Influenza, and Other Infectious Diseases), By End-User (Diagnostic Laboratories, Hospitals & Clinics, Academic Research Institutes, and Other End Users), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Infectious Disease Diagnostics Market: Overview
Infectious disease diagnostics is the procedure by which the causative agent of an infectious disease is identified and often characterized. It can be based solely on clinical presentation or more rigorous diagnostic tests, such as culturing of the infectious agent, microscopy, biochemical screens, and molecular methods. Diagnostic tests are crucial for diagnosing diseases and for the overall improvement of global health. Traditional methods were time-consuming and often produced inaccurate results. This led to the emergence of quick, accurate, and portable testing products in the market.
The growth of the infectious disease diagnosis market is mainly due to the increasing global prevalence of infectious diseases such as COVID-19, Ebola, Swine Flu, etc.; growing awareness for early detection using specific diagnostic tests; progress in funding for research on infectious disease diagnostics; and shift in focus from centralized laboratories to decentralized testing services.
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Industry Dynamics:
Infectious Disease Diagnostics Market: Growth Dynamics
Drivers: The global prevalence of infectious diseases and onset of COVID-19.
The prevalence of infectious diseases in developed and developing regions positively influenced the growth of the infectious disease diagnostics market and is expected to be a major factor in its growth during the forecast period. The diagnosis and management of such diseases are responsible for the increasing number of prescriptions for infectious disease diagnostic tests. These factors, alongside the growing trend for preventive medicine, are expected to drive the demand for the infectious disease diagnostics market.
Restraints: Lack of accuracy of point of care diagnostic tests and Unfavorable reimbursement scenario.
In underdeveloped and low-income regions, lack of training among clinicians and poor accessibility has led to decreased adoption of Infectious Disease Diagnostics test kits. Moreover, Inadequate reimbursement is a major factor restraining the growth of the infectious disease diagnostics market. A major challenge that most diagnostic companies face in commercializing their tests is getting health insurers to pay for them.
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Global Infectious Disease Diagnostics Market: Segmentation
- The global infectious disease diagnostics market is segregated based on product, type of testing, technology, disease type, and end-user.
By product, the global market is distinguished into Reagents, Kits, and Consumables, Instruments, and Software & Services. In 2020, the reagents, kits, and consumables segment accounted for the largest share of this market. The driving factor for the growth of this segment was the frequent purchase of these products due to their recurrent usage.
By technology, the global market is bifurcated into Immunodiagnostics, Clinical Microbiology, PCR, INAAT, DNA Sequencing & NGS, DNA Microarrays, and Other Technologies. The immunodiagnostics segment is projected to account for the largest share. This can be attributed to the increasing use of immunoassays in COVID-19 testing, POC infectious disease testing, the development of novel immunodiagnostic tests, and the rising trend of automation.
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List of Key Players of Infectious Disease Diagnostics Market:
- Abbott Laboratories (US)
- F. Hoffmann-La Roche Ltd(Switzerland)
- bioMérieux SA (France)
- Thermo Fisher Scientific Inc. (US)
- Danaher Corporation (US)
- Quidel Corporation(US)
- Hologic Inc. (US)
- Siemens Healthineers AG (Germany)
- Becton Dickinson and Company (US)
- PerkinElmer Inc. (US)
- QIAGEN (Netherlands)
- Grifols S.A. (Spain)
- DiaSorin S.p.A (Italy)
- Bio-Rad Laboratories Inc. (US)
- Sysmex Corporation (Japan)
- Ortho Clinical Diagnostics (US)
- Luminex Corporation (US)
- Meridian Bioscience (US)
- Genetic Signatures (Australia)
- OraSure Technologies (US)
- Trinity Biotech Plc. (Ireland)
- Chembio Diagnostic Systems Inc. (US)
- Seegene Inc. (South Korea)
- Co-Diagnostics Inc. (US)
- ELITechGroup (France)
- Epitope Diagnostics Inc. (US)
- Trivitron Healthcare (India)
- Meril Life Sciences Pvt. Ltd. (India)
- InBios International Inc. (US)
- ABACUS Diagnostica Oy (Finland)
Key questions answered in this report:
- What are the growth rate forecast and market size for Infectious Disease Diagnostics Market?
- What are the key driving factors propelling the Infectious Disease Diagnostics Market forward?
- What are the most important companies in the Infectious Disease Diagnostics Market Industry?
- What segments does the Infectious Disease Diagnostics Market cover?
- How can I receive a free copy of the Infectious Disease Diagnostics Market sample report and company profiles?
Report Scope:
Free Brochure: https://www.zionmarketresearch.com/requestbrochure/infectious-disease-diagnostics-market
Recent Developments
- In May 2021, Torus Biosystems revealed the USD 25 million series-A financing to advance infectious disease diagnostics across healthcare settings.
- In March 2020, Abbott Laboratories launched the ID NOW COVID-19 Test.
Regional Dominance:
- Improve the accessibility of diagnostic services to enhance the prevention.
The infectious disease diagnostics market is dominated by North America in 2020 and is expected to dominate the market during the forecast period due to the rise in occurrence of infectious diseases, presence of key players, development of the healthcare sector, presence of national clinical laboratories, advancement in technology for diagnostic instruments in the region, and an increase in awareness among the population regarding the availability of treatment devices. However, Asia-Pacific is expected to register the highest CAGR from 2021 to 2028, owing to an increase in the prevalence of infectious diseases, a rise in demand for early diagnosis, development of healthcare infrastructure, technological advancement in diagnostic testing, and government efforts to improve the accessibility of diagnostic services to enhance the prevention by developing products or platforms required for the diagnosis of infectious diseases.
Global Infectious Disease Diagnostics Market is segmented as follows:
Infectious Disease Diagnostics Market: By Product Outlook (2022-2028)
- Reagents, Kits, and Consumables
- Instruments
- Software & Services
Infectious Disease Diagnostics Market: By Type of Testing Outlook (2022-2028)
- Laboratory Testing
- POC Testing
Infectious Disease Diagnostics Market: By Technology Outlook (2022-2028)
- Immunodiagnostics
- Clinical Microbiology
- PCR
- INAAT
- DNA Sequencing & NGS
- DNA Microarrays
- Other technologies
Infectious Disease Diagnostics Market: By Disease Type Outlook (2022-2028)
- COVID-19
- HIV
- HAIs
- Hepatitis
- CT/NG
- HPV
- TB
- Influenza
- Other Infectious Diseases
Infectious Disease Diagnostics Market: By End-User Outlook (2022-2028)
- Diagnostic Laboratories
- Hospitals & Clinics
- Academic Research Institutes
- Other End Users
Infectious Disease Diagnostics Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Press Release For Infectious Disease Diagnostics Market: https://www.zionmarketresearch.com/news/global-infectious-disease-diagnostics-market
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