Dublin, Aug. 27, 2020 (GLOBE NEWSWIRE) -- The "Meningitis Diagnostic Testing Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The major factors attributing to the growth of the meningitis diagnostic testing market are the rise in the global prevalence of infectious diseases and HIV, which is one of the significant causes of meningitis, as emphasized by WHO. For instance, according to the United Nations Programme on HIV/AIDS (UNAIDS), in 2019, 24.5 million people with HIV were accessing antiretroviral therapy globally.
Additionally, increased participation of the government to control the outbreaks of meningitis and a rise in the demand for immediate diagnosis systems, are expected to contribute to the growth of the global market.
However, high prices of patented drugs are expected to restrain the growth of the diagnostic testing market in emerging economies in the forecast period.
Key Market Trends
PCR Assay Tests Segment Expected to Hold the Largest Market Share
PCR assays tests segment is anticipated to hold the largest market share in the meningitis diagnostic testing market. The highest market revenue is due to its highly precise and accurate test results in a short time in comparison to conventional tests, with the highest sensitivity rate. However, the lateral flow assay test accounts for the second-largest revenue and grow with the highest CAGR during the forecast period due to its lesser price, rapid results, and increased use of home-based tests.
Furthermore, by the End-user segment, the hospital segment accounted for the highest revenue market due to advanced diagnosis infrastructure and reimbursement policies.
North America Expected to Retain Dominance
North America is expected to dominate the overall meningitis diagnostic testing market, throughout the forecast period. The high adoption rate of advanced diagnostic devices, increased number of diagnostic centers, and easy obtainability of diagnostic test kits are the factors estimated to fuel the market in North America.
In North America, the United States holds the largest market share due to the increased patient pool. For instance, as per the UNAIDS report, in 2018, approximately 37.9 million people were living with HIV globally.
Asia Pacific is set to grow at the fastest rate during the forecast period, driven by the developing healthcare infrastructure in emerging nations and rising awareness programs. Also, the ongoing trials in the region will further stimulate market growth in the region. High incidence of such infectious diseases is projected to drive the global meningitis diagnostic testing market sales in the forecast period.
Competitive Landscape
The meningitis diagnostic testing market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some prominent players are vigorously making acquisitions with the other companies to consolidate their market positions across the globe and while others are launching new products.
Some of the companies which are currently dominating the market are Seegene Inc, Siemens Healthineers, IMMY, Thermo Fisher Scientific Inc, and BioFire Diagnostics LLC (bioMerieux).
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in the Global Prevalence of Meningitis
4.2.2 Increased Demand for Advanced Diagnostics for Sensitive Reports and Accurate Diagnosis
4.3 Market Restraints
4.3.1 Complex Regulatory Framework by Authorities
4.3.2 Lack of Awareness Regarding of Diagnosis and Availability of Diagnostic Laboratories In Developing Countries
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Test Type
5.1.1 Latex Agglutination Tests
5.1.2 Lateral Flow Assay
5.1.3 PCR Assay
5.1.4 ELISA Tests
5.1.5 Culture Test
5.1.6 Others
5.2 By End User
5.2.1 Hospital
5.2.2 Diagnostic Center
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Middle-East & Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Seegene Inc.
6.1.2 Siemens Healthineers AG
6.1.3 IMMY
6.1.4 Thermo Fisher Scientific Inc.
6.1.5 BioFire Diagnostics LLC (bioMerieux)
6.1.6 Bio-Rad Laboratories Inc.
6.1.7 ELITechGroup
6.1.8 Abbott Laboratories
6.1.9 Qnostics (Abbott Laboratories)
6.1.10 Luminex Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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