Pune, India, Aug. 29, 2022 (GLOBE NEWSWIRE) -- The global tuberculosis (TB) diagnostics market size was valued at USD 1.71 billion in 2021. The market is expected to grow from USD 2.07 billion in 2022 to USD 3.13 billion by 2029, exhibiting a CAGR of 6.1% during the forecast period. Rising demand for efficient and accurate diagnostics procedures and increasing private-public partnerships may foster market growth. Fortune Business Insights™ presents this information in its “Tuberculosis (TB) Diagnostics Market, 2022-2029.”
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Key Industry Development
- May 2021 - F. Hoffmann- La Roche Ltd. partnered with GenMark Diagnostics. Hoffman F. Hoffmann-La Roche Ltd. completed the acquisition of GenMark for nearly USD 1.8 billion. Through the acquisition, F. Hoffmann-La Roche Ltd aims to expand its molecular diagnostics portfolio with GenMark’s syndromic testing expertise.
- July 2020 – Cepheid, a subsdiary of Danaher, launched the Xpert MTB/XDR Test in collabroation Foundation for Innovative New Diagnostics (FIND). The test can expand drug-resistance TB profiling in under 90 minutes.
Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 6.1% |
| 2029 Value Projection | USD 3.13 Billion |
| Base Year | 2020 |
| Market Size in 2022 | USD 2.07 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 121 |
COVID-19 Impact:
Declining Sales Impeded Market Progress
The market was negatively affected during the COVID-19 pandemic due to the declining adoption of diagnostics procedures. Further, the sudden spike in COVID-19 patients enhanced hospital loads, thereby creating a shortage of medicines. Moreover, restrictions on manufacturing led to a lack of equipment required to complete diagnostics procedures effectively. However, lockdown relaxations helped the market grow significantly. Several industries began functioning normally, thereby facilitating the industry’s growth.
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Drivers and Restraints
Increasing Tuberculosis Disorders in Developing Countries to Foster Market Growth
Tuberculosis (TB) diagnostics include a bunch of procedures that can be accomplished using skin and blood tests. Increasing tuberculosis disorders in developing countries are expected to boost TB diagnostics demand. For example, as per the report published by India TB Report 2022, in India, nearly USD 399.7 million was spent on curing patients suffering from tuberculosis disorders, which was an approximate 39.9% spike compared to previous years. Furthermore, the rising awareness regarding the disorders’ severity is expected to foster the demand for diagnostic procedures. Moreover, the increasing adoption of development policies is expected to elevate tuberculosis diagnosis. These factors may drive the Tuberculosis (TB) diagnostics market growth.
However, diagnostic limitations of the process are expected to hamper the industry’s growth.
Segmentation
Rapid Molecular Diagnostics Segment to Dominate Owing to Novel Product Launches
By type, the market is segmented into culture-based diagnostics, sputum smear microscopy, rapid molecular diagnostics, and others. The rapid molecular diagnostics segment is expected to grow significantly owing to novel product launches.
Diagnostic Laboratories to Dominate Attributable to the Presence of Diagnostic Laboratories
As per end-user, the market is bifurcated into hospitals and diagnostic laboratories. The diagnostic laboratories segment is expected to dominate due to the presence of diagnostic laboratories across the world.
Regionally, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
| Market Segmentation | By Type
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By End-user
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By Geography
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Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Regional Insights
Presence of Key Players to Propel Market Growth in North America
North America is expected to dominate the tuberculosis (TB) diagnostics market share due to the presence of key players. The market in North America stood at USD 0.49 billion in 2021 and is likely to gain a huge portion of the global market share in the coming years. Furthermore, the rising prevalence of tuberculosis diseases and the increasing demand for effective procedures are expected to facilitate the demand for TB diagnostics.
In Europe, robust demand for molecular TB diagnostics is expected to enhance sales. Furthermore, increasing government initiatives and rising diagnostic laboratories are expected to fuel industry growth.
In Asia Pacific, the development of healthcare infrastructure is expected to foster the adoption of tuberculosis (TB) diagnostics. Furthermore, increasing demand for better treatment outcomes from individuals is expected to fuel market growth.
Competitive Landscape
Major Players Announce Novel Products to Elevate the Brand Image
The prominent companies operating in the market announce novel products to enhance sales and elevate their brand image. For example, Thermo Fisher Scientific Inc. announced its SeqStudio Flex Series Genetic Analyzer in March 2022. It is used for research and development of infectious disorder detection solutions. This strategy may expand the company’s product portfolio and elevate its brand image. Furthermore, major companies operating in the market devise acquisitions, mergers, novel product launches, innovations, research, and development to boost market position.
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List of Key Companies Profiled in the Report:
- F. Hoffmann-La Roche Ltd (Switzerland)
- bioMérieux SA (France)
- QIAGEN (Netherlands)
- BD (U.S.)
- Cepheid (Danaher) (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Abbott Laboratories (U.S.)
- Hologic, Inc. (U.S.)
- Hain Lifescience GmbH (Germany)
- Oxford Immunotec USA, Inc. (U.K.)
Detailed TOC:
- Key Insights
- Key Industry Developments
- Incidence of Tuberculosis, By Key Countries
- Impact of COVID-19 on the Market
- Global Tuberculosis (TB) Diagnostics Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Culture-based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics
- Others
- Market Analysis, Insights and Forecast – By End-user
- Diagnostic Laboratories
- Hospitals
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Tuberculosis (TB) Diagnostics Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Culture-based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics
- Others
- Market Analysis, Insights and Forecast – By End-user
- Diagnostic Laboratories
- Hospitals
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Tuberculosis (TB) Diagnostics Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Culture-based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics
- Others
- Market Analysis, Insights and Forecast – By End-user
- Diagnostic Laboratories
- Hospitals
- Market Analysis, Insights and Forecast – By Country/ Sub-Region
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic
- Rest of Europe
- Asia Pacific Tuberculosis (TB) Diagnostics Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Culture-based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics
- Others
- Market Analysis, Insights and Forecast – By End-user
- Diagnostic Laboratories
- Hospitals
- Market Analysis, Insights and Forecast – By Country/ Sub-Region
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America Tuberculosis (TB) Diagnostics Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Culture-based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics
- Others
- Middle East & Africa Tuberculosis (TB) Diagnostics Market Analysis, Insights and Forecast, 2018-2029
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- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Competitive Analysis
-
-
- Culture-based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics
- Others
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- Global Market Share Analysis (2021)
- Company Profiles (Overview, Products & Services, SWOT Analysis, Recent
TOC Continued…….
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