London, May 26, 2020 (GLOBE NEWSWIRE) -- According to a new market research report “Infectious Disease Diagnosis Market by Product & Solution (Consumables, System, Software & Services), Technology (Immunodiagnostics, PCR, INAAT), Disease (HIV, HAIS, Influenza), End User (Hospital, Reference Lab, Research) – Global Forecast to 2027”, published by Meticulous Research®, the infectious disease diagnostics market is expected to grow at a CAGR of 7.4% from 2020 to reach $23.17 billion by 2027.
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The epidemiological burden of infectious diseases across the globe has increased in the past few years. During past few decades, various infections such as severe acute respiratory syndrome (SARS), Middle East Respiratory Syndrome (MERS), Ebola, chikungunya, avian flu, swine flu, and zika are the majorly occurred emerging infections. The recent outbreak of the coronavirus (COVID-19) disease is an example of the same. Thus, the infectious disease diagnostic procedures are designed to diagnose and investigate the causative agent of an infectious disease in the early stage. Early diagnosis of infectious diseases opens door to the treatment and future care and helps the medical professionals and patients to take up various important medical decisions in terms of care and support. The increasing prevalence of infectious diseases across the globe significantly increases the demand for the diagnosis of these diseases for the early detection and prevention. Various organizations are taking initiatives to promote early diagnosis practice to prevent and eradicate the mortality causes due to the infectious diseases.
Impact of COVID-19 on Infectious Disease Diagnosis Market
According to the WHO, as of 28th April 2020, there were 3,073,603 confirmed cases, 2,11,768 confirmed deaths which has increased to 5,206,614 cases and deaths to 337,736 as of 24th May 2020. In this global pandemic, although many dedicated healthcare professionals work tirelessly on the frontlines to fight against this crisis, it’s equally important to minimize the spread of disease by early diagnosis. Testing is one of the greatest tools in understanding and managing the coronavirus pandemic. In response to the growing COVID-19 pandemic and shortages of laboratory-based molecular testing capacity and reagents, multiple diagnostic test manufacturers have developed and begun selling rapid and easy-to-use devices to facilitate testing outside of laboratory settings. These simple test kits are based either on detection of proteins from the COVID-19 virus in respiratory samples (e.g. sputum, throat swab) or detection, in blood or serum, of human antibodies generated in response to infection. Amidst the pandemic, manufacturers are also contributing by developing various diagnostic kits and assays for early disease diagnosis. Organizations around the world, including the Forum and its partners, are coming together and innovating to minimize the impact on public health, which, in turn, will help in the expansion of the infectious disease diagnostics market in the upcoming years.
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The infectious disease diagnostics market study presents historical market data (2018 and 2019), estimated current data (2020), and forecasts for 2027 - by product & solution, technology, disease type, and end-user. The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of technology, the immunodiagnostics segment is estimated to account for the largest share of the overall infectious disease diagnostics market in 2020. Increasing use of immunoassays in infectious disease testing, development of novel tests, rising trend of automation, increasing awareness about health and fitness, and reduced complications associated with the instruments are some of the major factors supporting the dominance of this segment.
On the basis of product and solution, the consumables segment is estimated to account for the largest share of the overall infectious disease diagnostics market. This segment is also expected to witness rapid growth during the forecast period. The large share and rapid growth of this segment is mainly attributed to the frequent and repetitive usage of consumables, growing focus on commercializing disease-specific assays for early diagnosis, and increasing use of kits & reagents to identify the organism causing various diseases in lesser time and cost. Further, the increasing prevalence of coronavirus (COVID-19) disease is expected to accelerate the growth of this segment owing to the national emergency declared and requirement of various kits and assays for the early disease detection.
On the basis of disease type, the hepatitis diseases segment is estimated to hold the largest share of the overall infectious disease diagnostics market in 2020. This is due to the increasing number of blood transfusions and donations, increasing prevalence of hepatitis B & C infections, rising susceptibility of the geriatric population, increasing awareness campaigns by non-government and government organizations regarding the disease, and benefits offered by point of care instruments & kits. Further, the introduction of molecular diagnostics in hepatitis testing is spurring the overall growth of this segment.
Based on the end user, hospital/clinical laboratories is estimated to command the largest share of the overall infectious disease diagnostics market in 2020. Increasing number of outpatients for infectious diseases like the recent outbreak of coronavirus disease, increasing hospital expenditures, growing technological advancement for diagnostic platforms in hospitals, rising government initiatives to invest in hospitals, and increasing number of skilled professionals contributed to the largest share of hospital/clinical laboratories in this market.
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Geographically, the global infectious disease diagnostics market is expected to be dominated by the North America in 2020. The factors such as growing healthcare sector; increasing need to treat various infectious diseases in early stage; increasing healthcare expenditure; growing demand of point-of-care testing; and increase in the research and development coupled with the development of novel advanced technologies for diagnosis supported the largest share of North America in the infectious disease diagnostics market. However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth in this region are rapid urbanization, increasing investments by healthcare providers towards infrastructure improvement, growing need to manage growing burden of infectious diseases, and government efforts to improve accessibility of diagnostic services to enhance the prevention by developing products or platforms required for the diagnosis of infectious diseases.
The report also includes extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016–2019). The infectious disease diagnostics market has witnessed number of new product launches; approvals; agreements, partnerships and collaborations; expansions; and acquisitions in recent years. For instance, in March 2020, Abbott Laboratories (U.S.) received U.S. FDA Emergency Use Authorization for its RealTime SARS-CoV-2 EUA tests for use on m2000 RealTime System. The systems have the ability to run high volumes of up to 470 tests in 24 hours, helping to meet the increasing demand for testing owing to the coronavirus pandemic. In January 2019, Danaher Corporation (U.S.) launched the HemoCue Hb 801 System for hemoglobin testing in primary care and public health settings.
The key players operating in the global infectious disease diagnostics market are Abbott Laboratories (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), Thermo Fisher Scientific (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Becton, Dickinson and Company (U.S.), DiaSorin S.p.A. (Italy), Meridian Bioscience Inc. (U.S.), and Quidel Corporation (U.S.) among others.
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Scope of the Report:
Infectious Disease Diagnostics Market by Product & Solution
- Consumables
- Instruments
- Software & Services
Infectious Disease Diagnostics Market by Technology
- Immunodiagnostics
- Clinical Microbiology
- Polymerase Chain Reaction
- Isothermal Nucleic Acid Amplification Technology
- DNA Sequencing and Next-Generation Sequencing (NGS)
- DNA Microarray Technology
- Other technologies
(Other Technologies comprises of microscopy, hybridization, and loop-mediated isothermal amplification)
Infectious Disease Diagnostics Market by Disease Type
- Hepatitis
- Human Immunodeficiency Virus (HIV)
- Hospital-Acquired Infections (HAIS)
- Human Papillomavirus (HPV)
- Tuberculosis (TB)
- Influenza
- Other Diseases
(Other diseases comprise of measles, small pox, mumps, typhoid fever, malaria, meningitis, Ebola virus disease, Lyme disease, coronavirus disease, and whooping cough)
Infectious Disease Diagnostics Market by End User
- Hospital/Clinical Laboratories
- Reference Laboratories
- Academics/Research Institutes
- Other End Users
(Other end-users comprise of physician offices, nursing facilities, and home healthcare agencies)
Infectious Disease Diagnostics Market by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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