Vancouver, British Columbia, Jan. 19, 2021 (GLOBE NEWSWIRE) -- The global tuberculosis diagnostics market is projected to reach a market size of USD 3.58 Billion by 2027 and register a high revenue growth rate during the forecast period, according to a new report by Reports and Data. Development of point-of-care diagnostic testing for tuberculosis is a factor fuelling growth of the market. Rapid test results, high level of accuracy of tests, and affordability and simplicity of testing kits are also contributing to growth of the tuberculosis diagnostics market. Advancements in tuberculosis testing kits technology and integration of information technology in POC diagnostic testing are other factors boosting market growth.
Revenue from the global tuberculosis diagnostics market is growing at a significant rate, due to increase in research activities. Advancements in research activities in the fields such as genomics and proteomics are fuelling development of new products for tuberculosis diagnostics. Organizations such as the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO) are taking initiatives to create awareness about tuberculosis diagnostic products.
The World Health Organization, the Stop TB Partnership, and The Global Fund to Fight AIDS, Tuberculosis and Malaria have jointly launched an initiative titled “FIND. TREAT. ALL. #ENDTB”, to create more awareness and reduce the response to tuberculosis prevention. Growth of the healthcare sector in developing economies and rise in geriatric population are other factors boosting growth of the tuberculosis diagnostics market. Weaker immune system of the elderly population makes them more susceptible to tuberculosis.
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The COVID-19 Impact:
The global tuberculosis diagnostics market witnessed slowdown during the COVID-19 pandemic. The disease affected the entire world and public as well as private organizations were focused on development of testing kits for COVID-19 only. This led to significant shortage in supply of tuberculosis diagnostic kits. Research and development of advanced and effective tuberculosis diagnostics also suffered, as most of the resources were deployed for development of testing kits for COVID-19. However, with the pandemic under control to a certain extent, these resources have started focusing on other diseases as well, including tuberculosis.
Further Key Findings from the Report Suggest
- Active tuberculosis is contagious and it can spread rapidly. Demand for testing kits for active tuberculosis is high. This is expected to drive growth of the active tuberculosis segment in the near future.
- Nucleic acid testing of tuberculosis offers a higher level of accuracy and higher speed than culture-based tests, which is a factor driving growth of the nucleic acid testing segment. Rise in commercialization of nucleic acid testing is another factor boosting growth of the segment.
- The research institutes & academics segment accounted for a significant revenue share in the global tuberculosis diagnostics market in 2019 due to high demand for tuberculosis diagnostic kits in research and development of new therapies and drugs for tuberculosis
- The Asia Pacific market accounted for the largest revenue share in the global tuberculosis diagnostics market in 2019due to high incidence of tuberculosis in underdeveloped countries in Asia Pacific. Increasing prevalence of the disease in Japan due to growing number of geriatric population are other factors boosting growth of the market in Asia Pacific.
- Key participants include Alere Inc., F.Hoffmann-La Roche AG, Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Siemens, Hologic Corporation, Cepheid, Hain Lifesciences GmbH, and Thermo Fisher Scientific Inc.
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For the purpose of this report, Reports and Data has segmented the global tuberculosis diagnostics market on the basis of disease stage, test type, end-use, and region:
- Disease Stage Outlook (Revenue, USD Billion; 2017-2027)
- Latent Tuberculosis
- Active Tuberculosis
- Test Type Outlook (Revenue, USD Billion; 2017-2027)
- Radiographic Method
- Cytokine Detection Assay
- Nucleic Acid Testing
- Detection of Latent Infection
- Diagnostic Laboratory Method
- Detection of Drug Resistance
- Others
- End-use Outlook (Revenue, USD Billion; 2017-2027)
- Clinics
- Hospitals
- Research Institutes & Academics
- Reference Laboratories
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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