An extensive study of the product application and services conducted by subject matter experts assessing the Infectious Disease Diagnostics market will help product owners to make a wise decision.
New York, United States – May 21, 2020 /MarketersMedia/ —
The Global Infectious Disease Diagnostics Market is forecast to reach USD 28.03 Billion by 2027, according to a new report by Reports and Data. Immediate diagnosis of infectious disease is the present need of the time due to evolving pathogens and increasing the occurrence rate of hospital-acquired infections. Government of various nations has been emphasizing on rapid diagnosis of infectious disease as a strategic priority like in the U.S. The global COVID-19 pandemic is another mentionable crucial factor that is boosting the demand for laboratory-based molecular testing capacity and reagents.
The COVID-19 Impact: One of the major impacts of COVID-19 on the market has been elevated demand for point-of-care immunodiagnostic tests. The development of these easy-to-use and rapid devices to support testing outside of laboratory settings has been a response of diagnostic test manufacturers to shortages of laboratory-based molecular testing capacity.
These test kits are developed by manufacturers based either on detection, in serum or blood of antibodies caused due to the infection or identification of proteins from the coronavirus in respiratory samples. WHO supports the use of these point-of-care immunodiagnostic tests in research settings.
Another mentionable impact of the pandemic on the market has been the emphasis on R&D activities. Various market players have been working on developing commercial and in-house assays that identify the COVID-19 virus. It would also contribute to the growing demand for molecular microfluidics diagnostics.
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Key participants include Becton, Dickinson and Company, Abbott Laboratories, Bio-Rad Laboratories, Biomérieux SA, Diasorin, Danaher Corporation, Meridian Bioscience, Luminex, Roche Diagnostics, and Siemens AG.
For the purpose of this report, Reports and Data have segmented the Infectious Disease Diagnostics market on the basis of
Product Type, Technology, Disease Type, End-user, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
• Instruments & analyzers
• Software & services
Technology Outlook (Revenue, USD Billion; 2017-2027)
• Traditional diagnostic technique
• Molecular diagnostic technique
Disease Type Outlook (Revenue, USD Billion; 2017-2027)
• Hospital-Acquired Infections (HAIS)
• Human Immunodeficiency Virus (HIV)
• Tuberculosis (TB)
• Chlamydia Trachomatis Genital Infection and Gonorrhea (CT/NG)
• Human Papillomavirus
End-user Outlook (Revenue, USD Billion; 2017-2027)
• Reference Laboratories
• Hospital/Clinical Laboratories
• Academic/Research Institutes
• Physician Offices
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
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Further key findings from the report suggest
• In context to Product Type, the Consumables segment is projected to witness a considerable growth rate of 6.3% during the forecast period. The elevating demand for assays and reagents because of rising demand for IDD tests contributes to the growth rate witnessed by this segment. The increasing occurrence rate of infectious diseases like COVID-19 and growing geriatric population is resulting in increasing demand for IDD tests. The epidemic is resulting in the development of various commercial and in-house assays to detect the virus, which is also contributing to the growth rate witnessed by this segment.
• In regards to Technology, the Molecular diagnostic technique segment is projected to witness a faster growth rate during the forecast period. The growth rate witnessed by the Molecular diagnostic technique is attributed to increasing demand for Polymerase Chain Reaction and Isothermal Nucleic Acid Amplification Test. Furthermore, development of assays using this technology like molecular assays, the use of which is supported by WHO, is also contributing to the growth rate witnessed by this segment.
• In regards to Disease Type, the Hepatitis segment occupied the largest market share of more than 20.0% in 2019. The market share held by the Hepatitis diagnostics is attributed to elevating the adoption of developed technologies for hepatitis B diagnosis and high occurrence rate of the condition, particularly among individuals below forty years, which contributes to the market share held by this segment.
• Abbott has been expanding its accessibility to COVID-19 tests by elevating its production and shipping to customers. As of April 2020, the company has been manufacturing 50,000 tests per day.
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Data Sources & Methodology:
Primary research is carried out through Email interactions, telephonic interviews, and one-on-one interviews and discussions to gain a crisp, clear, and accurate understanding of each market, category, segment, and sub-segment across geographies. Reports and Data has a strong global database comprising experts, participants, and veterans across a range of industries, verticals, sectors, and markets, through whom we validate our information/data and analysis results. A typical research interview fulfills the following functions: Provides competitive landscape, consumer trends, market growth trends, first-hand information, and analysis on market size, opportunities, outlook, etc.
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