The elevating incidence rate of infectious diseases across the globe, the growing number of researches on infectious disease diagnosis

NEW YORK, NEW YORK, UNITED STATES, October 11, 2021 /EINPresswire.com/ -- The Global Infectious Disease Diagnostics market is forecast to reach USD 28.03 Billion by 2027, according to a new report by Reports and Data. Immediate diagnosis of infectious disease is the present need of the time due to evolving pathogens and increasing the occurrence rate of hospital-acquired infections. Government of various nations has been emphasizing on rapid diagnosis of infectious disease as a strategic priority like in the U.S. The global COVID-19 pandemic is another mentionable crucial factor that is boosting the demand for laboratory-based molecular testing capacity and reagents.

The COVID-19 Impact: One of the major impacts of COVID-19 on the market has been elevated demand for point-of-care immunodiagnostic tests. The development of these easy-to-use and rapid devices to support testing outside of laboratory settings has been a response of diagnostic test manufacturers to shortages of laboratory-based molecular testing capacity. These test kits are developed by manufacturers based either on detection, in serum or blood of antibodies caused due to the infection or identification of proteins from the coronavirus in respiratory samples. WHO supports the use of these point-of-care immunodiagnostic tests in research settings.

Another mentionable impact of the pandemic on the market has been the emphasis on R&D activities. Various market players have been working on developing commercial and in-house assays that identify the COVID-19 virus. It would also contribute to the growing demand for molecular microfluidics diagnostics. Herein, technological advancements, development of microfluidic-based solutions by various market players, and scope to automate complex sample preparations on microchips and reliability associated with it in detecting pathogens would result in its surging demand during this epidemic. It would also boost the demand for respiratory testing. Some industry players have also been emphasizing on developing respiratory tests for coronavirus. These respiratory tests for COVID-19 would also be applicable for other respiratory pathogens like influenza A and B. Thus; it would result in ascertaining stable growth of the market.

However, one of the mentionable challenges for the growth of the market players amidst this epidemic is supply chain management. As an instance, in China when the pandemic reached the zenith, the transportation was to a halt that resulted in breaking the supply chain. The main reason for such disruption is not because companies are not manufacturing, but it was because the mobility of comments from one part of the nation to another was becoming a challenge. Thus, such disruption in the supply chain may hinder the growth of the market.

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Leading companies operating in the market and profiled in the report include:

Becton, Dickinson and Company, Abbott Laboratories, Bio-Rad Laboratories, Biomérieux SA, Diasorin, Danaher Corporation, Meridian Bioscience, Luminex, Roche Diagnostics, and Siemens AG.

Market Overview:

The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2027. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.

Competitive Landscape:

The report provides details about competitive landscape of global Infectious Disease Diagnostics market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Infectious Disease Diagnostics market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.

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Further key findings from the report suggest

• In context to Product Type, the Consumables segment is projected to witness a considerable growth rate of 6.3% during the forecast period. The elevating demand for assays and reagents because of rising demand for IDD tests contributes to the growth rate witnessed by this segment. The increasing occurrence rate of infectious diseases like COVID-19 and growing geriatric population is resulting in increasing demand for IDD tests. The epidemic is resulting in the development of various commercial and in-house assays to detect the virus, which is also contributing to the growth rate witnessed by this segment.

• In regards to Technology, the Molecular diagnostic technique segment is projected to witness a faster growth rate during the forecast period. The growth rate witnessed by the Molecular diagnostic technique is attributed to increasing demand for Polymerase Chain Reaction and Isothermal Nucleic Acid Amplification Test. Furthermore, development of assays using this technology like molecular assays, the use of which is supported by WHO, is also contributing to the growth rate witnessed by this segment.

• In regards to Disease Type, the Hepatitis segment occupied the largest market share of more than 20.0% in 2019. The market share held by the Hepatitis diagnostics is attributed to elevating the adoption of developed technologies for hepatitis B diagnosis and high occurrence rate of the condition, particularly among individuals below forty years, which contributes to the market share held by this segment.

• Abbott has been expanding its accessibility to COVID-19 tests by elevating its production and shipping to customers. As of April 2020, the company has been manufacturing 50,000 tests per day.

• In April 2020, E25Bio has developed a rapid antigen test for COVID-19. This test is capable of conducting the COVID-19 test in 15 minutes. Currently, the test is awaiting FDA clearance.

• In February 2020, Bio-Rad Laboratories acquired Exact Diagnostics of Fort Worth. With the help of this acquisition the company gained accessibility to catalog of molecular quality control products in microbiology, virology, respiratory, vector-borne, transplant and sexually transmitted infections.

• In January 2018, Siemens had completed the acquisition of Fast Track Diagnostics. With the help of this acquisition, Siemens can expand its assays and syndromic panels and enhance its quality of care delivery.

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For the purpose of this report, Reports and Data have segmented the Infectious Disease Diagnostics market on the basis of Product Type, Technology, Disease Type, End-user, and region:

Product Type Outlook (Revenue, USD Billion; 2017-2027)

• Consumables
• Instruments & analyzers
• Software & services

Technology Outlook (Revenue, USD Billion; 2017-2027)

• Traditional diagnostic technique
• Molecular diagnostic technique

Disease Type Outlook (Revenue, USD Billion; 2017-2027)

• Hepatitis
• Hospital-Acquired Infections (HAIS)
• Human Immunodeficiency Virus (HIV)
• Tuberculosis (TB)
• Chlamydia Trachomatis Genital Infection and Gonorrhea (CT/NG)
• Influenza
• Human Papillomavirus
• Others

End-user Outlook (Revenue, USD Billion; 2017-2027)

• Reference Laboratories
• Hospital/Clinical Laboratories
• Academic/Research Institutes
• Physician Offices
• Others

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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