DUBLIN--(BUSINESS WIRE)--The "Global Infectious Disease Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product, Disease Indication, Technology, Testing Type, End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The infectious disease diagnostics market is expected to grow from US$ 23,890 million in 2021 to US$ 37,943.90 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.
The report highlights trends prevailing in the market and factors driving the infectious disease diagnostics market growth. The market growth is attributed to increased government funding, rising healthcare costs, and the increasing adoption of technologically advanced diagnostic equipment in healthcare organizations. However, the tedious and expensive process of infectious disease diagnostics development is restricting the infectious disease diagnostics market growth.
Infectious disease diagnosis is a diagnostic procedure for detecting the presence of foreign antigens / organisms with the help of various diagnostic tools that are executed with the help of skilled technicians or physicians. The blood, urine, mucus, or other body fluids sample is analyzed to provide information about the organism causing the infection by using various diagnostic procedures and instruments.
Infectious diseases are caused by infectious agents, such as viruses, bacteria, parasites, fungi, and toxic products. HIV is a major global public health issue across the world. According to The Joint United Nations Programme on HIV/AIDS (UNAIDS), ~ 37.7 million people were HIV positive in 2020. Out of these, 1.7 million were children aged below 0-14 years, and 36 million were adults. Also more than half (~53%) were girls and women. ~1.5 million new HIV cases were reported in 2020 globally. Similarly, hepatitis is an inflammation of the liver caused by a viral infection. The five main strains of hepatitis viruses are A, B, C, D, and E. According to World Health Organization (WHO), around 58 million people across the globe have chronic hepatitis C virus infection, and ~1.5 million new infections occur every year.
According to WHO, tuberculosis (TB) is the thirteenth-highest death-causing disease globally and the second leading infectious disease after COVID-19. As per WHO, 1.5 million deaths were caused by TB in 2020 (including 214,000 people affected by HIV). In 2020, WHO projected that 10 million people had TB globally, including 1.1 million children, 3.3 million women, and 5.6 million men. TB is present in all age groups and countries. Furthermore, in 2020, 30 countries with high TB burdens accounted for 86% of new TB cases. Eight countries make up two-thirds of the total , with India at the forefront, followed by China, the Philippines, Indonesia, Nigeria, Pakistan, Bangladesh, and South Africa.
Based on product, the global infectious disease diagnostics market , based on product, has been is segmented into kits and reagents, instruments, and software and services . In 2021, the kits and reagents held the largest share of the market, by product. However, the software and services segment are is expected to witness growth in its demand at a fastest register the highest CAGR during from 2021 to 2028. Based on disease indication, the global infectious disease diagnostics market , based on disease indication, is segmented into HIV, hepatitis, healthcare- associated infections (HAIs), human papillomavirus (HPV), tuberculosis (TB), influenza, and others disease indications.
The hepatitis segment held the largest share of the market in 2021. However, the healthcare- associated infections (HAIs) segment is anticipated to register the highest CAGR during the forecast period. Based on technology, the global infectious disease diagnostics market , based on technology, has been is segmented into immunodiagnostics, polymerase chain reaction, next generation sequencing, clinical microbiology, and others. In 2021, the immunodiagnostics segment held the largest share of the market, by technology.
However, the next generation sequencing segment is expected to witness growth in its demand at a fastest register the highest CAGR during from 2021 to 2028. Based on testing type, the global infectious disease diagnostics market, based on testing type, has been is segmented bifurcated into laboratory testing and point-of-care testing immunodiagnostics, polymerase chain reaction, next generation sequencing, clinical microbiology, and others. In 2021, the immunodiagnostics laboratory testing segment held the largest share of the market, by testing type.
Market Dynamics
Drivers
- Rising Prevalence of Infectious Disease
- Increasing Focus on R&D and Funding in Infectious Disease Diagnostics
Restraints
- Inadequate Reimbursement Scenario
Opportunities
- Growing Opportunities in Developing Nations
Future Trend
- Rising Number of Product Approvals and Launches
Companies Mentioned
- Danaher
- Abbott
- BD
- Trinity Biotech
- F. HOFFMANN-LA ROCHE LTD.
- Cardinal Health Inc
- bioMerieux SA
- BIO-RAD LABORATORIES INC.
- AccuBioTech Co. Ltd.
- ACON Laboratories, Inc.
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