New York, United States , Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the TB Diagnostics Market Size to grow from USD 1.71 billion in 2021 to USD 3.01 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. As a direct result of this, both the government and non-profit healthcare groups have started to take new steps to stop the spread of this disease. It is important to make people more aware of how important diagnosis is if we want to increase screening and diagnosis rates, which will help the TB diagnostics industry grow. In India, for example, the Revised National Tuberculosis Control Program (RNTCP) focuses on screening for TB and giving more people access to treatment by offering free diagnostic and treatment programs. This is done to reduce the number of people who have tuberculosis. The number of diagnoses is also going up because this initiative is making it easier for the public and private sectors to work together.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The nucleic acid testing segment to account for the largest market size during the forecast period
Based on the test type, the TB diagnostics market is categorized into Radiographic Test, Laboratory Test, Nucleic Acid Testing, Cytokine Detection Test, Drug Resistance Test, and Other Diagnostic Test Types. The nucleic acid testing segment accounts for the largest market size during the forecast period. Enzymatic amplification of bacterial DNA (or ribosomal RNA that has been translated into DNA) is followed by detection using a signal-generating probe and the right reading device. Also, you can buy several methods of enzymatic amplification in different markets around the world right now. PCR, which stands for "polymerase chain reaction," TMA, which stands for "transcription-mediated amplification," and SDA, which stands for "strand displacement amplification," are three of the most common ways to increase the amount of something.
Browse key industry insights spread across 198 pages with 110 market data tables and figures & charts from the report "Global TB Diagnostics Market Size, Share, and COVID-19 Impact Analysis By Test Type (Radiographic Test, Laboratory Test, Nucleic Acid Testing, Cytokine Detection Test, Drug Resistance Test, and Other Diagnostic Test Types), By End-User (Hospital/Clinics, Diagnostics/Research Laboratory, and Other End Users), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2030. ” in detail along with the table of contents.
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The hospitals/Clinics segment to account for the largest market size during the forecast period
Based on the end user, the TB diagnostics market is categorized into hospitals/Clinics, Diagnostics/Research laboratories, and Other End Users. The hospitals/Clinics segment is to hold a higher CAGR during the forecast period. The Centers for Disease Control and Prevention say that more than 13 million people in the U.S. have TB that is not showing any symptoms. The number of people with MDR (multi-drug resistant) tuberculosis is expected to rise, increasing the need for diagnostic procedures in hospitals. Also, both public and private healthcare institutions and the government have started many programs to stop the spread of infectious diseases, which is expected to help this market grow.
The Global TB Diagnostics Market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is estimated to account for the highest market share in 2022. Because the regional market is strong, there is a growing need for advanced medical care and the use of technology and new diagnostic methods to diagnose, treat, care for, rehabilitate, and improve healthcare as a whole. There is a good chance that the market for tuberculosis diagnostics will benefit from more money going into research and development for better TB tests. There have been more and more breakthroughs in diagnosing TB, which could be the reason for the rise. Many things on the market can help find out if someone has TB. These things include everything from genetic tests done in a lab to Al for CXR interpretation. In the United States, the Centers for Disease Control and Prevention recorded a total of 7,174 cases of tuberculosis in the year 2020. Since the number of tuberculosis cases in the country is going up, the market for TB diagnostics will likely grow.
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Key Companies & Recent Developments: 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 the Global TB Diagnostics Market include Thermo Fisher Scientific Inc., Becton Dickinson and Company, Hoffmann-La Roche Ltd., Qiagen NV, BioMerieux SA, Oxford Immunotec Ltd., Cepheid Inc., Akonni Biosystems Inc., PAR Pharmaceutical, Alere Inc. (Abbott), Lionex GmbH, Creative Diagnostics.
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