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Infectious Disease Diagnostics Market – Analysis of Revenue Growth and Demand Forecast

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Infectious Disease Diagnostics Market – Analysis of Revenue Growth and Demand Forecast

July 27
22:31 2022
Infectious Disease Diagnostics Market - Analysis of Revenue Growth and Demand Forecast
Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMérieux SA (France), Siemens Healthineers AG (Germany), Danaher Corporation (US), Becton, Dickinson and Company (US) are some of the major key player.
In February 2021, Thermo Fisher Scientific acquired Mesa Biotech (US) to expand the benefits of molecular diagnostics at the point of care.

The Infectious Disease Diagnostics Market is projected to reach USD 33.1 billion by 2027 from USD 35.5 billion in 2022, at a -1.4% CAGR.

Global prevalence of infectious diseases;

The prevalence of infectious diseases in developed and developing regions will positively influence the growth of the infectious disease diagnostics market. The diagnosis and management of such diseases are responsible for the increasing number of prescriptions for infectious disease diagnostic tests. These factors, alongside the growing trend for preventive medicine, is expected to drive the demand for infectious disease diagnostics during the forecast period. The broad-scale population-based testing is required to improve prevention and control efforts for COVID-19. These tests are performed by infectious disease diagnostics; hence, it had a positive impact on this market.

Opportunity: Growing opportunities in growing economies;

Developing economies such as India, South Korea, Brazil, and Mexico are expected to offer potential growth opportunities for major players operating in the infectious disease diagnostics market. This can be attributed to the high disease prevalence, large patient population, improving healthcare infrastructure, increasing disposable income, and growing medical tourism in these countries. In addition to the factors mentioned above, the Asia Pacific has emerged as an adaptive and business-friendly hub due to relatively less stringent regulations and data requirements.

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The reagents, kits, and consumables segment accounted for the largest share of the infectious disease diagnostics market, by product & service segment, in 2021

Based on product & service, the infectious disease diagnostic market is segmented into reagents, kits, and consumables; instruments; and software & services. In 2021, the reagents, kits, and consumables segment accounted for the largest share of this market. The requirement of reagents, kits, and consumables in large numbers compared to instruments is the main factor contributing to the large share of this segment. Unlike instruments, reagents, kits, and consumables segment requires repeat purchases, which results in its stable demand among end users.

POC testing segment to register the highest CAGR during the forecast period

Based on the type of testing, the infectious disease diagnostics market has been segmented into laboratory testing and POC testing. In 2021, the POC testing segment accounted for the highest CAGR. This can be attributed to the need to closely monitor patient conditions and advantages such as faster diagnosis.

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The COVID-19 segment accounted for the largest share of the infectious disease diagnostics market, by disease type segment, in 2021

Based on disease type, the market is segmented into COVID-19, HIV, HAIs, hepatitis, CT, NG, HPV, Tuberculosis, influenza, syphilis, mosquito-borne diseases and other infectious diseases. In 2021, the COVID-19 disease type segment accounted for the largest share of this market due to factors such as the increasing number of cases and the availability of many COVID-19 diagnostic tests.

The diagnostic laboratories segment accounted for the largest share of the infectious disease diagnostics market, by end user segment, in 2021

Based on end user, the infectious disease diagnostic market has been segmented into diagnostic laboratories, hospitals & clinics, academic research institutes, and other end users. In 2021, diagnostic laboratories accounted for the largest share of the market. Diagnostic laboratories command the major share of the market owing to increased test volume of infectious diseases and strengthening healthcare infrastructure for efficient disease diagnosis and treatment.

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North America is the largest regional market for infectious disease diagnostics market

The infectious disease diagnostic market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the market. The large share of this region can be attributed to the highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.

The major players operating in this infectious disease diagnostics market are Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMérieux SA (France), Siemens Healthineers AG (Germany), Danaher Corporation (US), Becton, Dickinson and Company (US), PerkinElmer, Inc. (US), Hologic, Inc. (US), QIAGEN N.V. (Netherlands), Grifols S.A. (Spain), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics Holdings plc (US), Quidel Corporation (US), Meridian Bioscience (US), Genetic Signatures Ltd. (Australia), OraSure Technologies (US), Trinity Biotech Plc. (Ireland), Chembio Diagnostic Systems (US), Seegene, Inc. (South Korea), Co-Diagnostics (US), ELITechGroup (France), Epitope Diagnostics (US), Trivitron Healthcare (India), Meril Life Sciences Pvt. Ltd. (India), InBios International (US), Vela Diagnostics (Singapore) and Uniogen Oy (Finland).

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