New York, United States , June 13, 2023 (GLOBE NEWSWIRE) -- The Global Infectious Disease Testing Market Size is to grow from USD 24.2 Billion in 2022 to USD 43.3 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period.
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Infectious disease testing, which involves test supplies and equipment, aims to find foreign antigens or organisms. For bacterial and viral infections, the majority of diagnostic equipment and kits are readily available. In the future, the bulk of the testing kits now in use are expected to be replaced by molecular techniques. The market is expanding because viral infection treatments have improved, the government is becoming more active, and there is an increasing demand for innovative research techniques to monitor infectious diseases. The prevalence of infectious diseases is rising, point-of-care testing is becoming more popular than centralized lab testing, and the cost of R&D for infectious disease diagnostics is rising. These are all significant factors that are boosting the market. Rapid diagnostics for disease identification are being developed as a result of scientific research and development efforts to develop novel technologies and techniques like mass spectrometry and next-generation sequencing (NGS), which are assisting the expansion of the infectious disease diagnostics market.
Due to the frequency of infectious diseases in both developed and developing countries, the market for infectious disease diagnostics will grow. The detection and treatment of such ailments are the cause of the rising need for diagnostic testing for infectious diseases. These reasons and the growing tendency toward preventive care are expected to contribute to a rise in the need for infectious disease diagnostics throughout the projected period. Major players in the infectious disease diagnostics market in emerging nations like India, South Korea, Brazil, and Mexico should also have development prospects. Furthermore, most people who are affected by infectious diseases including HIV, malaria, and TB reside in developing nations. Due to a lack of clinician training and poor product accessibility brought on by lower per capita spending, the use of POC kits has dropped in low- and middle-income countries.
Browse key industry insights spread across 215 pages with 127 Market data tables and figures & charts from the report on "Global Infectious Disease Testing Market Size, Share, and COVID-19 Impact Analysis, By Product & Services (Kits & reagents, Instruments, & Software), By Technology (Immunodiagnostics, DNA Sequencing & NGS, PCR {Polymerase chain reaction}), By End Users (Hospitals & Clinical Laboratories, Diagnostics Laboratories, & Research Institutes), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032" Get Detailed Report Description Here:
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The kits & reagents segment is influencing the market with the largest market share during the forecast period.
The global market for infectious disease testing is segmented into kits and reagents, devices, and software based on goods and services. Due to the greatly increased demand for PCR reagents, which has resulted in a fast increase in the launch of novel reagents, the kits & reagents sector is leading the market with the biggest revenue share throughout the projection period. because more people are using point-of-care testing, more people need reagents, and more people are doing research and development (R&D) in the pharmaceutical and biotechnology industries.
The DNA sequencing & NGS segment is dominating the largest market share during the forecast
based on technology, the global market for infectious disease testing is segmented into PCR, DNA sequencing & NGS, and immunodiagnostics. The market leader across all of these sectors is the DNA sequencing & NGS category. The development of sequencing technology and the expanding use of NGS are driving market expansion. NGS offers the potential to speed up the discovery of pharmacogenetic markers for tailored therapy and early disease diagnosis. The three key aspects of any NGS approach are library preparation, assay design, and data analysis. Whole-genome sequencing is used by the New York State Department of Health to treat viral infections like influenza in the US.
The hospitals & clinical laboratories segment is dominating the largest market revenue during the forecast period.
The hospitals and clinical laboratories, diagnostics laboratories, and research institutions segments of the global infectious disease testing market are based on end users. During the projection period, the segment of osteoblastic hospitals & clinical laboratories would rule the market with the greatest share. The lengthening of hospital stays for patients with infectious diseases is to blame for its domination.
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North America is dominating the market with the largest market growth over the forecast period.
North America is leading the significant market growth during the forecast period due to infectious illness testing in North America being investigated in both the United States and Canada, North America is expected to dominate the considerable market growth over the projection period. Due to its top-tier national clinical laboratories, sophisticated healthcare systems, and convenient access to cutting-edge technology, North America now has the lion's share of the global market for infectious disease testing.
Asia Pacific is predicted to be the second fastest-growing region during the forecast period.
Europe is anticipated to develop at the greatest growth rate throughout the projection period owing to emerging nations like India and China being the primary consumers of infectious disease testing due to increased urbanization, which results in an unclean atmosphere in cities, Asia Pacific is predicted to expand at the greatest growth rate throughout the projection period. Due to the high prevalence and incidence of infectious diseases, especially bacterial infections, and sexually transmitted diseases, the Asia-Pacific and African areas constitute the largest markets for infectious disease diagnostics.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Infectious Disease Testing Market include Abbott Laboratories, Becton, Biomérieux SA, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Dickinson and Company, Luminex, Meridian Bioscience, Quidel, Roche Diagnostics, Siemens AG, Thermo Fisher Scientific, and Others.
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Recent Development
In February 2022, The CE-IVD seal was awarded by the EU regulatory body to SEEGENE's Allplex SARS-CoV-2 rapid MDx Assay. Due to its capacity to deliver results in under 30 minutes, the Allplex SARS-CoV-2 rapid MDx Assay is well suited for use in airports, schools, and other large-scale institutions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Infectious Disease Testing Market based on the below mentioned segments:
Global Infectious Disease Testing Market, By Product & Services
- Kits & reagents
- Instruments
- Software
Global Infectious Disease Testing Market, By Technology
- Immunodiagnostics
- DNA Sequencing & NGS (next-generation sequencing)
- PCR (Polymerase chain reaction)
Global Infectious Disease Testing Market, By End Users
- Hospitals & Clinical Laboratories
- Diagnostics Laboratories
- Research Institutes
Infectious Disease Testing Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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