USD 27850.14 million
Report ID: SQMIG35G2215 | Region: Global | Published Date: April, 2023 | Pages: 242 | Tables: 154 | Figures: 77
Infectious Disease Diagnostics Market size was valued at USD 27850.14 million in 2021 and is poised to grow from USD 29632.56 million in 2022 to USD 49041.76 million by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).
Diagnostic tests are critical for disease diagnosis and for improving global health. Traditional infectious disease diagnosis yielded inaccuracies and was time-consuming. Because of this flaw, the Infectious Disease Diagnostics Market has seen the emergence of rapid, accurate, and portable point-of-care testing products. POC testing allows for faster diagnosis of infectious diseases nearby to the patient's location and provides immediate results. Several researchers are now working on multiplex point-of-care diagnostic technologies.
US Infectious Disease Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 27850.14 million
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The Global Infectious Disease Diagnostics Market is segmented based on Product, Test, Technology, Disease, End-User, and Region. Based on Product market is segmented into Reagents, Kits, Consumables, Instruments, and Software & Services. Based on Test Type it is categorized into Laboratory and POC. Based on Technology the Infectious Disease Diagnostics Market is segmented into Immunodiagnostics, Microbiology, PCR, NGS, and INAAT. By Disease the market is categorized into COVID-19, Hepatitis, HAI, HIV, Influenza, CT/NG, HPV, TB, and Other Infectious Diseases. By End User, the Infectious Disease Diagnostics Market studied is segmented into Diagnostic Laboratories, Hospitals & Clinics, Academic Research Institutes, and Other End Users. Based on the Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Infectious Disease Diagnostics Market Analysis by Product
The reagents, kits, and consumables segment held the largest share of this market in 2021. This segment's market growth is driven by the frequent purchase of these products due to their frequent usage. The global prevalence of infectious diseases and the onset of COVID-19, as well as growing awareness for early disease diagnosis, a shift in focus from centralized laboratories to decentralized POC testing, and rising technological advancements are driving the Infectious Disease Diagnostics Market growth.
Infectious Disease Diagnostics Market Analysis by Technology
The immunodiagnostics segment held the largest share in 2021. This is due to the increased use of immunoassays in COVID-19 testing, point-of-care infectious disease testing, the development of novel immunodiagnostic tests, and the rising trend of automation. The growth is attributed to an increase in the number of genomic projects, a surge in DNA sequencing awareness, and advancements in R&D for DNA analysis activities.
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North America held the largest share of the global infectious disease diagnostics market in 2021. The growth of the North American infectious disease diagnostics market can be attributed to the highly developed healthcare systems in the United States and Canada, the presence of many leading national clinical laboratories, and the ease of access to technologically advanced instruments. Within North America, the United States has held a large market share. The increasing prevalence of infectious diseases, high healthcare expenditure, and increased population awareness about the availability of treatment devices are the major factors driving the Infectious Disease Diagnostics Market growth.
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Infectious Disease Diagnostics Market Driver
Infectious Disease Diagnostics Market Restraint
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The Infectious Disease Diagnostics Market is highly fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the Infectious Disease Diagnostics Market are Veracyte Inc., Abbott Laboratories Danaher Corporation, BioMérieux SA, F. Hoffmann-La Roche Ltd, and Becton, Dickinson, and Company.
Infectious Disease Diagnostics Market Top Player’s Company Profiles
Infectious Disease Diagnostics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the increasing prevalence of influenza and related chronic diseases, increased research and development activities in infectious disease diagnostics technologies, growing awareness for early detection using specific diagnostic tests, and other factors are driving the Global Infectious Disease Diagnostics Market. Developing economies such as India, South Korea, Brazil, and Mexico are expected to provide opportunities for growth for major players in the infectious disease diagnostics market. This can be attributed to these countries' high disease prevalence, large patient population, improved healthcare infrastructure, rising disposable income, and growing medical tourism.
|Market size value in 2021||USD 27850.14 million|
|Market size value in 2030||USD 49041.76 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Infectious Disease Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Infectious Disease Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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