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Infectious Disease Diagnostics market is projected to grow at a CAGR of 6.61% by 2032: Visiongain Reports Ltd
Visiongain has published a new report entitled Infectious Disease Diagnostics 2022-2032. It includes profiles of Infectious Disease Diagnostics and Forecasts Market Segment by Product (Instrument, Reagents, Kits, & Consumables, And Software & Services), Market Segment by Type of Testing (Laboratory Testing and POC Testing), Market Segment by Technology (Immunodiagnostics, Polymerase Chain Reaction (PCR), DNA Sequencing And Next-Generation Sequencing (NGS), Clinical Microbiology, and Other Technologies), Market Segment by Application (COVID-19, Human Immunodeficiency Virus (HIV), Healthcare-Associated Infections (HAIs), Hepatitis, Human Papillomavirus (HPV), Tuberculosis (TB), Influenza, and Other Infectious Diseases), Market Segment by End User (Diagnostic Laboratories, Hospitals & Clinics, Research Institutes, Home Care Settings, And Other End Users) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The infectious disease diagnostics market was valued at US$ 28,272.2 million in 2021 and is projected to grow at a CAGR of 6.61% during the forecast period 2022-2032.
Increase in Funding from Private & Government Organizations for Diagnostic Service Centers
Funding related to infectious disease diagnostics is also projected to drive the growth of the market. For instance, In July 2022, A new consortium involving the London School of Hygiene & Tropical Medicine (LSHTM) was launched to improve the research to speed up the development of real-world diagnostics and treatments, funded by the UK Research and Innovation Medical Research Council (UKRI MRC). LSHTM received £1.6 million (US$1.96 million) along with five partner organizations: The Pirbright Institute, the Science and Technology Facilities Council (STFC) laboratories, the University of Oxford, the Liverpool School of Tropical Medicine, and the UK Health Security Agency. With this funding, both fresh and experienced researchers will be able to pursue early-stage translational research.
In Feb. 2022, BD joined Day Zero's US$21M fundraising for sequencing-based infectious disease diagnostics. Day Zero's diagnostic utilizes the whole-genome sequencing and machine learning to profile bacterial pathogens, helping healthcare providers fast determine which drugs will work best to fight an antibiotic-resistant infection.
In Aug 2021, Australian researchers at the Kirby Institute at UNSW Sydney, Burnet Institute, and Doherty Institute, along with international organizations, the Clinton Health Access Initiative and Foundation for Innovative New Diagnostics, have received US $5.2 million to improve laboratory capacity for testing and diagnosis of COVID-19, HIV, malaria, and tuberculosis in the Indo-Pacific region.
A project conducted by the University of Glasgow received US$1.85 million in funding in January 2018 as part of the Global Challenges Research Fund (GCRF). In order to facilitate quick diagnosis and speedy treatment of infectious diseases, this project will create novel tests for parasite infections and quick testing in remote sites.
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How has COVID-19 had a Significant Positive Impact on the Infectious Disease Diagnostics Market?
The COVID-19 pandemic has also caused a paradigm shift in global POC testing environment. It has stimulated research on the development of testing techniques that are rapid and affordable, which can be utilised in the community as bed side testing. The decentralized trend in testing has been intensified by the pandemic. In order to respond to clinical demands more rapidly, it is possible to get closer to patients outside of laboratories, hospitals, and homes In July 2021, Fortress Diagnostics launched a rapid test that detects Influenza A, Influenza B, and COVID-19 from a single nasal swab. The newly developed Combo Rapid test uses the same COVID-19 test approved by scientists of Porton Down (Science Park, England) and has been registered for sale in the UK combined with proven Influenza test technology. The test will provide the healthcare practitioner with results in just 15 minutes. In August 2020, Novacyt launched diagnostic test to differentiate between COVID-19 and flu.
How will this Report Benefit you?
Visiongain’s 327-page report provides 120 tables and 201 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the infectious disease diagnostics market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for infectious disease diagnostics. Get financial analysis of the overall market and different segments including type, process, upstream, downstream, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing infectious disease diagnostics market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Growth in Infectious Diseases
Growing prevalence of infectious diseases is anticipated to drive the growth of the infectious disease diagnostics market over the forecast period. For instance, on February 23, 2020, there were 76,936 reported cases in mainland China and 1,875 cases of coronavirus disease 2019 in locations outside mainland China and the number of associated deaths was 2,462.
According to The Joint United Nations Programme on HIV/AIDS (UNAIDS), 37.7 million individuals were HIV positive in 2020, out of which 36 million were adults and 1.7 million were children between the ages of 0 and 14. Furthermore, more than half (53%) were females. 1.5 million new HIV cases were recorded in 2020 worldwide. Further, Hepatitis is a viral infection that results in liver inflammation. Hepatitis viruses come in five primary strains: A, B, C, D, and E. As per the World Health Organization (WHO), about 58 million individuals worldwide have chronic hepatitis C virus infection, and 1.5 million new infections occur each year.
According to WHO, After COVID-19, tuberculosis (TB) is the second most common infectious disease in the world and the thirteenth leading cause of death overall. As per WHO, 1.5 million deaths were caused due to TB in 2020 (including 214,000 people affected by HIV). WHO anticipated that 10 million individuals, including 1.1 million children, 3.3 million women, and 5.6 million men, would be affected by TB worldwide in 2020. All countries and age ranges are affected by TB. In addition, 30 countries with heavy TB burdens accounted for 86% of new TB cases in 2020. Two-thirds of the total is made up of eight countries, with India topping the list, then China, the Philippines, Nigeria, Pakistan, Indonesia, Bangladesh, and South Africa.
Moreover, the growing prevalence of Healthcare-acquired infections (HAIs) globally. For instance, according to the Centers for Disease Control (CDC), HAIs alone in American hospitals are considered to be responsible for 1.7 million infections and 99,000 associated deaths per year. Of these infections, urinary tract infections make up 32% of all healthcare-acquired infections, followed by surgical site infections (22%), pneumonia (15%), and bloodstream infections (14%).
Growing prevalence of infectious diseases in developed and emerging nations will positively impact the growth of the infectious disease diagnostics market. The diagnosis and management of these diseases are key responsible factors for the rising number of prescriptions for diagnostic tests for infectious diseases. Large-scale population-based diagnostic testing is required for the prevention and control measures of COVID-19.
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Where are the Market Opportunities?
Growing opportunities in growing economies
One of the most crucial tools for comprehending and managing the global COVID-19 pandemic has been diagnostic testing. In order to give laboratories and healthcare professionals access to testing kits, the relevant governments and public health organizations made additional funding announcements at the beginning of the pandemic. For instance, the Rapid Response program to support diagnostic testing capacity was launched in 2020 by the European Institute of Innovation and Technology (EIT) Health with funding of US$ 7.6 million.
The pandemic also shown how producers of diagnostic tests increased their output of rapid testing kits for laboratories and simple-to-use tools to enable testing outside of laboratory settings. For instance, Abbott received CE Marking in June 2021 for their Panbio rapid antigen test kit, which European consumers can use at home. With new COVID-19 cases still developing in several regions, the demand for diagnostic solutions will continue to increase in the near future, which will favourably drive the infectious disease diagnostic market growth over 2021–2027.
Competitive Landscape
The major players operating in the infectious disease diagnostics market are AbbVie Inc. (AbbVie), Bavarian Nordic A/S, Catalent, Inc., Charles River Laboratories International, Inc., Emergent BioSolutions Inc., Eurofins Scientific SE, FUJIFILM Holdings Corporation, GlaxoSmithKline PLC, Kemwell Biopharma, Lonza Group AG (Lonza), Merck KGaA, Pfizer Inc. (Pfizer), Richter-Helm BioLogics, Samsung Biologics Co Ltd, Sanofi SA, Serum Institute of India, Siegfried Holding AG, Thermo Fisher Scientific Inc., Wacker Biotech B.V., and WuXi Biologics Cayman Inc. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
In Feb. 2022, BD joined Day Zero's $21M fundraising for sequencing-based infectious disease diagnostics. Day Zero's diagnostic utilizes whole-genome sequencing and machine learning to profile bacterial pathogens, helping healthcare providers fast determine which drugs will work best to fight an antibiotic-resistant infection.
In Feb. 2022, BD joined Day Zero's $21M fundraising for sequencing-based infectious disease diagnostics. Day Zero's diagnostic utilizes whole-genome sequencing and machine learning to profile bacterial pathogens, helping healthcare providers fast determine which drugs will work best to fight an antibiotic-resistant infection.
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Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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