Meticulous Research®– leading global market research company published a research report titled “Infectious Disease Diagnostics Market by Product & Solution (Consumables, System, Software & Services), Technology (Immunodiagnostics, PCR, INAAT), Disease (HIV, HAIS, Influenza), End User (Hospital, Reference Lab, Research) – Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the infectious disease diagnostics market is expected to grow at a CAGR of 6.9% from 2020 to reach to $42.85 billion by 2027. The high growth of infectious disease diagnostics market is mainly attributed to the factors such as increasing global prevalence of infectious diseases, growing awareness for early detection using specific diagnostic tests, growth in funding for research on infectious disease diagnostics, and shift in focus from centralized laboratories to decentralized point-of-care testing services. Advances in genomics and proteomics, growing awareness of personalized medicines, and growth opportunities in emerging economies offer significant growth opportunities for the players operating in this market. However, the unfavorable and inadequate reimbursement scenario is expected to hamper the growth of infectious disease diagnostics market to certain extent.
The global infectious disease diagnostics market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027- by product & solution (consumables, system, software & services), technology (immunodiagnostics, PCR, INAAT), disease (HIV, HAIS, influenza, tuberculosis), end user (hospital, reference lab, research), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of product & solutions, the infectious disease diagnostics market is segmented into consumables, instruments, and software & services. The consumables segment is estimated to hold the largest share of the overall infectious disease diagnosis market in 2020. The large share of this segment is mainly attributed to the increasing prevalence of infectious diseases, rising awareness among the population to identify the diseases, and increasing use of kits and reagents to identify the organism causing various diseases in lesser time and cost. Further, the outbreak of coronavirus (COVID-19) disease is expected to accelerate the growth of this segment owing to the national emergency declared and requirement of various kits and assays for the early disease detection.
On the basis of technology, the infectious disease diagnostics market is segmented into immunodiagnostics, clinical microbiology, polymerase chain reaction, isothermal nucleic acid amplification technology, DNA sequencing and next-generation sequencing (NGS), DNA microarray technology, and other technologies. The immunodiagnostics segment is estimated to account for the largest share of the overall infectious disease diagnostics market in 2020. Increasing use of immunoassays in infectious disease testing, development of novel tests, rising trend of automation, increasing awareness about health and fitness, and reduced complications associated with the instruments are some of the key factors driving the growth of this market.
On the basis of disease type, the infectious disease diagnostics market is segmented into hepatitis, human immunodeficiency virus (HIV), hospital-acquired infections (HAIS), human papillomavirus (HPV), tuberculosis (TB), influenza, and other diseases. The hepatitis diseases segment is estimated to hold the largest share of the overall infectious disease diagnostics market in 2020. Increasing number of blood transfusions and donations, increasing prevalence of hepatitis B & C infections, rising susceptibility of the geriatric population, growing awareness among the population, and benefits offered by point of care instruments & kits are expected to propel the growth of this segment.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America region is estimated to dominate the global infectious disease diagnostics market in 2020, followed by Europe and Asia Pacific. The factors such as growing healthcare sector; increasing need to treat various infectious diseases in early stage; increasing healthcare expenditure; growing demand for point-of-care testing; and increase in the research and development coupled with the development of novel advanced technologies for diagnosis supported the largest share of North America in the infectious disease diagnostics market.
The key players operating in the global infectious disease diagnostics market are Abbott Laboratories (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), Thermo Fisher Scientific (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Becton, Dickinson and Company (U.S.), DiaSorin S.p.A. (Italy), Meridian Bioscience Inc. (U.S.), and Quidel Corporation (U.S.), among others.
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