LONDON--(BUSINESS WIRE)--The global enteric disease testing market is expected to grow at a CAGR of almost 9% during the period 2016-2020, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global enteric disease testing market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market. In addition, the report discusses the major drivers influencing market growth, and the challenges faced by vendors and the market as a whole.
“The market is witnessing a rise in the adoption of rapid diagnostic test kits in developing countries. Rapid diagnostic test kits, such as C. DIFF CHEK-60 test and C. DIFF QUIK CHEK, developed by Alere, are inexpensive and easy to use as a result of which they have been widely accepted in several regions worldwide. Launch of new products is also expected to boost market growth during the forecast period,” says Barath Palada, a lead research analyst at Technavio for in-vitro diagnostics.
Technavio’s research study segments the global enteric disease testing market into the following regions:
- Americas
- EMEA
- APAC
Americas: incidence of enteric diseases among Americans to boost growth
The enteric disease testing market in the Americas is expected to reach USD 404 million by 2020, growing at a CAGR of close to 9%. The Americas is a major market for enteric disease testing, with the US and Canada being the major revenue contributors in the region. It is the largest regional market for enteric disease products due to the presence of several reputed companies in the US. The rising incidence of enteric diseases among Americans is one of the main contributors to market growth in the region.
According to estimates by the CDC and the American Association for Clinical Chemistry, the incidence of C. difficile infections per 100,000 people has increased considerably over the past few decades in the US. The high demand for molecular diagnostic tests and the high level of awareness among people residing in the US is also contributing to the growth of the market. The market in Latin America is growing due to an increase in the adoption of do-it-yourself (DIY) rapid diagnostic tests.
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EMEA: rise in awareness about enteric diseases to fuel growth of the market
The enteric disease testing market in EMEA is expected to exceed 312 million by 2020, growing at a CAGR of over 9%. EMEA is the second major market for enteric disease testing. This market is dominated by the UK, Germany, France, Italy, and Spain, all of which have been witnessing impressive growth rates over the past few years.
Increasing adoption of molecular tests for infectious diseases is fueling the growth of this market. C. difficile infection is the major cause for diarrheal disease in this region. Increased incidence of Norovirus infection in the UK, the Netherlands, and France is also contributing to market growth in this region. Rise in awareness about enteric diseases and technological advancements are also likely to contribute to market growth in EMEA.
APAC: fastest growing market due to positive changes in the healthcare systems
The enteric disease testing market in APAC is likely to exceed USD 103 million by 2020, growing at a CAGR of close to 10%. APAC is the fastest growing market for enteric disease testing. Countries such as India, Malaysia, China, Japan, and Singapore offer excellent opportunities for the growth of the market in the region. These countries are expected to witness growth because of positive changes in their healthcare systems.
Large populations, and densely populated towns and cities in these countries offer significant scope for vendors to increase their market share by penetrating these markets. Moreover, medium-sized vendors are likely to collaborate with leading players to penetrate untapped markets in the future. Demand for enteric disease testing products by frequent travelers to developing nations where enteric diseases are widespread is also contributing to market growth.
The top vendors in the global enteric disease testing market highlighted in the report are:
- Alere
- bioMérieux
- Cepheid
- DiaSorin
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