Westford, USA, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Infectious Disease Diagnostics Market size was valued at USD 22.94 billion in 2023 to USD 43.09 billion by 2031, growing at a CAGR of 8.20% during the forecast period (2024-2031). SkyQuest projects that the Global Infectious Disease Diagnostics Market will reach a value of USD 43.09 Billion by 2031, with a CAGR of 8.20% during the forecast period (2024-2031). The infectious disease diagnostics market is a speedily progressing sector emphasized identifying infection-causing pathogens. The leading drivers of the market include improvements in diagnostic technologies like POC testing, rapid testing, and rising cases of infectious diseases. In addition, heavy funding for R&D is fueling the growth of the infectious disease diagnostics market.
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Infectious Disease Diagnostics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 22.94 Billion |
| Estimated Value by 2031 | USD 43.09 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.20% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product & Service, Type of Testing, Sample Type, Disease Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growing Demand for Rapid Testing |
| Key Market Drivers | Growing Demand for POC Testing |
Infectious Disease Diagnostics Market Segmental Analysis
Global Infectious Disease Diagnostics Market is segmented by Product & Service, Type of Testing, Sample Type, Disease Type, Technology, End User, and region.
Based on Product & Service, the market is segmented into Reagents, Kits, And Consumables, Instruments, Software & Services.
Based on Type of Testing, the market is segmented into Laboratory Testing, POC Testing.
Based on Sample Type, the market is segmented into Blood, Serum, and Plasma, Urine, and Other Sample Types.
Based on Disease Type, the market is segmented into Hepatitis, HIV, Hospital-acquired Infections, Mosquito-borne Diseases, HPV, Chlamydia Trachomatis, Neisseria Gonorrhea, Tuberculosis, Influenza, Syphilis, Other Infectious Diseases.
Based on Technology, the market is segmented into Immunodiagnostics, Clinical Microbiology, Polymerase Chain Reaction, Isothermal Nucleic Acid Amplification Technology, DNA Sequencing & Next-generation Sequencing, DNA Microarray, Other Technologies.
Based on End User, the market is segmented into Diagnostic Laboratories, Hospitals & Clinics, Academic Research Institutes, Other End Users.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Growing Demand and Vital Functionalities to Help Fuel Instrument Segment Growth
By product & service, the instruments segment held a notable market share in the past years and is anticipated to lead in future owing to its core functionalities and increased demand. Diagnostic instruments like immunoassay analyzers, PCR machines, and NGS are vital for detecting pathogens and for testing purposes. Their key role in diagnostics, rising demand for speedy and accurate diagnostics are fueling the segment growth. Nonetheless, the software & service segment will hold a considerable share of the market in the forthcoming years owing to its increasing significance and integration with instruments. Since instruments are vital, software and services are also crucial for better data management, interpretation and analysis, mainly with the growth of digital health solutions. Also, with the growing complexity of diagnostic tools, the demand for effective software is increasing notably.
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Mounting Incidences and Major Chronic Impact to Boost Hepatitis Segment
By disease type, the hepatitis segment registered a majority market share owing to rising cases of hepatitis viruses (A, B, C, D, E) that are common on the global scale and demand diagnostic testing. Furthermore, chronic infections by hepatitis may result in severe health conditions like cancer and lever disease. This increases the demand for regular monitoring and screening, thus driving the demand for diagnostics. However, the mosquito-borne diseases segment is anticipated to hold significant market share owing to the growing concerns for resulting diseases like Zika, dengue, and malaria that are regional and seasonal in nature, which may impact the consistency of diagnostics demand. Moreover, the latest improvements in testing like monitoring and speedy testing for mosquito-borne diseases are raising their presence in the market, thus fueling the segment’s growth.
Heavy Investments for Research and Development and Mounting Diseases Incidences to Boost Market in North America
Geographically, North America is expected to lead the market in the coming years due to increasing investments in research and development by both private and public sectors. This ultimately drives advancements and innovations in diagnostic techniques. Supportive regulations confirm the efficacy and safety of diagnostic instruments, fueling their adoption and trust. Also, the rising cases of infectious diseases are increasing the demand for diagnostic solutions.
Europe is projected to grow as the fastest-growing region backed by strong healthcare systems that increase the widespread diagnostics in different nations. Moreover, the growing awareness of infectious disease among professionals and patients is fueling the demand for timely and accurate diagnostics. Also, major investments in innovations and research are propelling improvements in diagnostic techniques, thus impacting the market growth in the region.
Infectious Disease Diagnostics Market Insight
Drivers:
- Growing Cases Infectious Diseases
- Rising need for Early Detection of Diseases
- Integration of Digital Health Tools
Restraints:
- Significantly Priced Advanced Diagnostics Technology
- Lengthy Approval Process
- Lack of Professional Workforce
Prominent Players in Infectious Disease Diagnostics Market
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Abbott (US)
- bioMérieux (France)
- Siemens Healthineers AG (Germany)
- Danaher (US)
- Thermo Fisher Scientific Inc. (US)
- Hologic, Inc. (US)
- Becton, Dickinson and Company (US)
- Revvity (US)
- Qiagen (Netherlands)
- Seegene Inc. (South Korea)
- QuidelOrtho Corporation (US)
- Grifols, S.A. (Spain)
- DiaSorin S.p.A. (Italy)
- Bio-Rad Laboratories, Inc. (US)
- Sysmex Corporation (Japan)
- OraSure Technologies (US)
- Co-Diagnostics, Inc. (US)
- Trinity Biotech (Ireland)
- Genetic Signatures Ltd. (Australia)
- Epitope Diagnostics, Inc. (US)
- Trivitron Healthcare (India)
- ELITech Group (France)
- Meril Life Sciences Pvt. Ltd. (India)
- InBios International, Inc. (US)
- Uniogen Oy (Finland)
- Vela Diagnostics (Singapore)
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Key Questions Answered in Global Infectious Disease Diagnostics Market Report
- What is the estimated growth of the infectious disease diagnostics market in 2031, according to SkyQuest?
- Which segment held a maximum share of the global infectious disease diagnostics market?
- What marketing strategies are adopted by the key players operating in the infectious disease diagnostics market?
This report provides the following insights:
Analysis of key drivers (growing aging population, increased funding and awareness, technological advancements), restraints (growing market competition, issues with supply chain, poor reimbursement policies), opportunities (rising demand for POC testing, growing alliances, expansion in developing markets), and challenges (economic constraints, issues with quality control, integration challenges) influencing the growth of infectious disease diagnostics market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the infectious disease diagnostics market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the infectious disease diagnostics market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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