NEW YORK, April 26, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Infectious Disease Diagnostics Market Forecast to 2028- COVID-19 Impact, and Global Analysis - by Product (Kits and Reagents, Instruments, and Software and Service ss), Disease Indication [HIV, Hepatitis, Healthcare- Associated Infections (HAIs), Human Papillomavirus (HPV), Tuberculosis (TB), Influenza, and Others Disease Indications], Technology (Immunodiagnostics, Polymerase Chain Reaction, Next Generation Sequencing, Clinical Microbiology, and Others), Testing Type (Laboratory Testing and, Point of Care Testing), End User (Hospitals and Clinics, Pathology or Diagnostic Laboratories, Research Institutes, Home-Care Settings, and Others End User), and Geography", the global infectious disease diagnostics market is expected to grow from $23.89 billion in 2021 to $37.94 billion by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.
The infectious disease diagnostics market growth is driven by the several government-funded programs that increasingly provide free screening and tests to increase awareness, accurately diagnose diseases, and minimize the chances of infection. However, a lack of skilled technicians may hinder the growth of the market.
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Report Coverage | Details |
Market Size Value in | US$ 23.89 Billion in 2021 |
Market Size Value by | US$ 37.94 Billion by 2028 |
Growth rate | CAGR of 6.8% from 2021 to 2028 |
Forecast Period | 2021- 2028 |
Base Year | 2021 |
No. of Pages | 226 |
No. Tables | 139 |
No. of Charts & Figures | 91 |
Historical data available | Yes |
Segments covered | Product, Disease Indication, Technology, Testing Type, End User and Geography |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Infectious Disease Diagnostics Market: Competitive Landscape and Key Developments
Danaher; Abbott; BD; Trinity Biotech; F. HOFFMANN-LA ROCHE LTD.; Cardinal Health Inc.; bioMerieux SA; BIO-RAD LABORATORIES INC.; AccuBioTech Co., Ltd.; and ACON Laboratories, Inc.; are among the leading companies in the infectious disease diagnostics market. The infectious disease diagnostics market share is anticipated to flourish with the development of new innovative products by market players.
In May 2022, F. HOFFMANN-LA ROCHE LTD. entered into a collaboration with Bristol Myers Squibb to support the advancement of two assays for use in clinical trials with the development and deployment of two new digital pathology algorithms.
In February 2022, F. HOFFMANN-LA ROCHE LTD. announced the expansion of the COVID-19 PCR portfolio to the cobas 5800 System, a recently launched molecular laboratory instrument, in countries accepting the CE mark. These include the cobas SARS-CoV-2 Qualitative and the cobas SARS-CoV-2 & Influenza A/B tests.
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North America is the largest market for infectious disease diagnostics, with the US holding the largest market share, followed by Canada and Mexico. The market for infectious disease diagnostics in the US is expected to grow rapidly due to growing cases of infectious diseases and favorable government regulations encouraging the development of infectious disease diagnostics to detect infections. The Canadian-healthcare.org reports that the healthcare system in Canada offers preventive care and medical treatment to all the citizens in the country. However, healthcare-acquired infections (HAIs) are among the most frequent adverse events in healthcare delivery in Canada. Each year, thousands of people are affected by HAIs, which leads to significant mortality and financial losses to the healthcare system. Medical Isolation, long-term care facilities, clinics, and home care services help people get healthy. However, it is estimated that over ~200,000 Canadians acquire healthcare-associated infections, out of which ~8,000 have resulted in death. Moreover, The Chief Public Health Officer's Report on the State of Public Health in Canada states that ~80% of common infections are spread by healthcare workers, patients, and visitors.
According to a report by the Government of Canada, in 2019, the overall reported rate of hepatitis C infection in Canada was 30.4 cases per 100,000 people. The Public Agency of Canada estimated that 317,100 people in Canada had hepatitis C in 2017; and an estimated 194,500 people were living with chronic hepatitis C. Furthermore, according to a report by the Government of Canada, the Human Papillomavirus (HPV) is one of the most common sexually transmitted infections in Canada, as it spreads easily. It affects about 3 out of 4 sexually active Canadians at least once in their lifetime. Similarly, according to a report by the Government of Canada, in 2020, the rate of active tuberculosis in Canada was 4.7 per 100,000 population. The rate was highest among Canadian-born indigenous people (12.7 per 100,000 population).
Increasing Focus on R&D and Funding in Infectious Disease Diagnostics Fueling Infectious Disease Diagnostics Market Growth:
Research and development (R&D) are an essential part of the business of pharmaceuticals & biopharmaceuticals companies. R&D enables them to develop new products for various therapeutic applications with significant medical and commercial potential. Moreover, leading market players are investing in R&D to develop advanced technologies and gain more revenue share.
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Testing is one of the best tools to understand and manage the spread of COVID-19. In response to the growing cases of COVID-19 and the shortage of laboratory capabilities and molecular testing reagents, a few diagnostic testing manufacturers are offering fast and easy-to-use devices to facilitate out-of-laboratory testing. The simple test kits are based on detecting proteins of SARS-CoV-2 from respiratory samples (sputum and swabs of the throat) or human antibodies produced in response to infection in blood or serum. A few of the key initiatives undertaken by the manufacturers for funding are as follows:
- In September 2021, the Biden-Harris Administration announced a USD 2.1 billion investment to improve infection prevention and control activities across the US public health and healthcare sectors. The Biden Harris administration, operating through the Centers for Disease Control and Prevention (CDC), has invested funds in the US rescue programs to address state, local, and territorial health departments and other partner organizations with infectious diseases in the US.
- In March 2022, The Global Fund to Fight AIDS, Malaria, and Tuberculosis praised the decision by Canada to contribute CAD 60 million to the Global Fund's COVID-19 Response Mechanism (C19RM). The new funding will help provide life-saving diagnostic tests, treatments (including medical oxygen), and personal protective equipment (PPE) to low- and middle-income countries.
Infectious Disease Diagnostics Market: Segmental Overview
Product-Based Insights:
Based on product, the global infectious disease diagnostics market is segmented into kits and reagents, instruments, and software and services. In 2021, the kits and reagents held the largest share of the market. However, the software and services segment is expected to register the highest CAGR from 2021 to 2028.
Disease Indication-Based Insights:
Based on disease indication, the global infectious disease diagnostics market is segmented into HIV, hepatitis, healthcare-associated infections (HAIs), human papillomavirus (HPV), tuberculosis (TB), influenza, and others. 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.
Technology-Based Insights:
Based on technology, the global infectious disease diagnostics market is 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. However, the next generation sequencing segment is expected to register the highest CAGR from 2021 to 2028.
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Testing Type-Based Insights:
Based on testing type, the global infectious disease diagnostics market is bifurcated into laboratory testing and pointof- care testing. In 2021, the laboratory testing segment held the largest share of the market, by testing type. However, the point -of -care testing segment is expected to witness growth in its demand at a fastest CAGR during 2021 to 2028.
End User-Based Insights:
Based on end user, the global infectious disease diagnostics market is 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. However, the home care settings segment is expected to register the highest CAGR from 2021 to 2028.
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