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Infectious Disease Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Disease Indication , Technology, Testing Type, End User, and Geography
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.
New York, June 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Infectious Disease Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Disease Indication , Technology, Testing Type, End User, and Geography" - https://www.reportlinker.com/p06279444/?utm_source=GNW
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 had were HIV positive in 2020, . Out of these,out of which 1.7 million were children aged below 0–14 years, and 36 million were adults. AlsoFurther, more than half (~53%) were girls and women. ~1.5 million new HIV cases were reported in 2020 globally. Similarly, Hhepatitis is 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 beenis 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 fastestregister 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 beenis 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 fastestregister 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. However, the next generation sequencingpoint -of -care testing segment is expected to witness growth in its demand at a fastest CAGR during 2021 to 2028. Based on end user, the global infectious disease diagnostics market is, based on end user, has been segmented into hospitals & clinics, pathology or diagnostic laboratories, research institutes, home care settings, and others. In 2021, the pathology or diagnostic laboratories segment held the largest share of the market, by end user. However, the home care settings segment is expected to witness growth in its demand at a fastestregister the highest CAGR during from 2021 to 2028.
COVID-19 Impact – Infectious Disease Diagnostics Market
The current COVID-19 pandemic has sparkedled to a surge inincreased demand for various point-of-care testing (POCT) diagnostic kits, which provide for early detection and help control the spread of COVID-19of coronavirus spread.SARS-CoV-2 screening diagnostics are constantly being developed to meet the needs of markets with unique regulatory constraints.
For example, in February 2022, Mylab Discovery Solutions launched CoviSwift, a point-of-care (POC) RT-PCR testing solution that may be utilized in-hospital labs, small labs, airports, and communities.Moreover, iIn November 2021, Detect launched a new PCR-quality at-home COVID-19 quick molecular test to address testing needs at work, home, and school in the United Statesin the US at work, home, and schools.
LikewiseSimilarly, in March 2020, BioMedomics released a PoC COVID-19 test that can identify antibodies in blood within 15 minutes.Also, Iin March 2022, SCIENION, a BICO company and leading developer of miniaturized multiplex diagnostic tests, announced the completion of the diagnostic research project PoC-BoSens led by the Fraunhofer Institute for Reliability and Microintegration (IZM).
The PoC-BoSens platform is a revolutionary label-free point-of-care device based on three-dimensional photonic bottle resonators (3D-BMRs) for real-time high-sensitive measurement of disease-relevant biomolecules. As a result, the demand need for infectious disease diagnostic products is rising, with an increasing number ofmany people suffering from coronavirusCOVID-19. Several Many diagnostic laboratories and testing facilities are also being launched that are expanding the scope of the market. For instance, in June 2020, the Union Minister of Health and Family Welfare launched India’s first mobile I-Lab (Infectious disease diagnostic lab) for COVID-19 testing. Such developments are anticipated to boost the demand for infectious disease diagnostic products in the near futurecoming years. Thus, the pandemic has had a profound impact onprofoundly impacted the public health profession. ThusTherefore, increased production by the companies has resulted in profits, and the outbreak of COVID-19 outbreak has shown a positive impact onpositively impacted the infectious disease diagnostyics market growth.
Various organic and inorganic strategies are adopted by companies in the infectious disease diagnostics market.The organic strategies mainly include product launches and product approvals.
Inorganic growth strategies witnessed in the market are acquisitions, collaboration, and partnerships.These growth strategies have allowed the infectious disease diagnostics market players to expand their business, enhance their geographic presence, and contribute to the overall market growth.
Further, growth strategies, such as acquisitions and partnerships, helped the market playersstrengthen their customer base and extend product portfolios. A few of the significant developments by key players in the infectious disease diagnostics market are listed below.
In January 2022, Cepheid announced that Health Canada issued Cepheid a medical device license for Xpert Xpress CoV-2/Flu/RSV plus, a rapid molecular diagnostic test for the qualitative detection of the viruses causing COVID-19, Flu A, Flu B, and respiratory syncytial virus (RSV) infections from a single patient sample.
In April 2020, CerTest Biotec and BD (Becton, Dickinson and Company) announced that the VIASURE SARS-CoV-2 Real-Time PCR Detection Kit adapted for the BD MAX System has been CE marked to the IVD Directive (98/79/CE). The molecular test for the detection of COVID-19 is available to clinical laboratories in countries recognizing the CE mark.
A few of the major primary and secondary sources referred to while preparing the report on the infectious disease diagnostics market are the European Federation of Pharmaceutical Industries and Associations (EFPIA), the World Health Organization (WHO), the Centers for Disease Control (CDC), and the Department of Biotechnology (DBT).
Read the full report: https://www.reportlinker.com/p06279444/?utm_source=GNW
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