CHICAGO, Jan. 9, 2024 /PRNewswire/ -- Infectious Disease Diagnostics Market in terms of revenue was estimated to be worth $21.4 billion in 2023 and is poised to reach $31.5 billion by 2028, growing at a CAGR of 8.0% from 2023 to 2028 according to a new report by MarketsandMarkets. Market growth is largely driven by the rising prevalence of infectious diseases and the increasing funding for R&D in disease diagnostics. The rising incidence of infectious diseases worldwide creates a substantial demand for effective diagnostic tools. As the global healthcare landscape grapples with the challenges posed by infectious agents, there is a heightened emphasis on developing advanced diagnostic technologies to enable timely and accurate detection.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=116764589
Browse in-depth TOC on "Infectious Disease Diagnostics Market"
172 - Tables
53 - Figures
309 - Pages
Infectious Disease Diagnostics Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $21.4 billion |
Estimated Value by 2028 | $31.5 billion |
Growth Rate | Poised to grow at a CAGR of 8.0% |
Market Size Available for | 2021-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product & Service, Type of Testing, Sample Type, Technology, Disease Type, and End User |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Increased growth opportunities in emerging economies |
Key Market Drivers | Rising prevalence of infectious diseases |
In 2022, the reagents, kits, and consumables segment held the largest share of the infectious disease diagnostics market by product & service segment.
The infectious disease diagnostics market is segmented into reagents, kits, and consumables; instruments; and software & services based on product & service. The reagents, kits, and consumables segment dominated the infectious disease diagnostics market in 2022. 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 require repeat purchases, which results in stable demand among end users.
The blood, serum, and plasma segment held the largest share of the infectious disease diagnostics market by sample type segment in 2022.
Based on sample type, the infectious disease diagnostics market has been segmented into blood, serum, and plasma, urine, and other sample types. In 2022, the blood, serum, and plasma segment accounted for the largest share of the infectious disease diagnostics market, by sample type. These sample types provide a rich and diverse pool of infectious disease diagnostic information. They contain circulating DNA, RNA, proteins, and other biomarkers that carry valuable insights into various diseases and conditions. This wealth of information enables healthcare professionals to make accurate diagnoses, monitor disease progression, and personalize treatment decisions.
North America is the largest regional market for infectious disease diagnostics market.
The market for infectious disease diagnostics has been divided into five key geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America held the predominant portion of the infectious disease diagnostics market. The infectious disease diagnostics market in North America is well-established, with the US being a major market in this region. This dominance can be attributed to various factors, including advanced healthcare infrastructure, a high prevalence of infectious diseases, and significant investments in diagnostic technologies.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=116764589
Infectious Disease Diagnostics Market Dynamics:
Drivers:
- Rising prevalence of infectious diseases
Restraints:
- Unfavorable reimbursement scenario
Opportunities:
- Increased growth opportunities in emerging economies
Challenge:
- Operational barriers and shortage of skilled laboratory technicians
Key Market Players of Infectious Disease Diagnostics Industry:
The major players operating in this market are Abbott (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMérieux (France), Siemens Healthineers AG (Germany), Danaher (US), Hologic, Inc. (US), Becton, Dickinson and Company (US), Revvity (US), QIAGEN (Netherlands), Seegene Inc. (South Korea), Grifols, S.A. (Spain), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), QuidelOrtho Corporation (US), Meridian Bioscience (US), Genetic Signatures Ltd. (Australia), OraSure Technologies (US), Trinity Biotech (Ireland), Chembio Diagnostics, Inc. (US), Co-Diagnostics, Inc. (US), ELITech Group (France), Epitope Diagnostics, Inc. (US), Trivitron Healthcare (India), Meril Life Sciences Pvt. Ltd. (India), InBios International, Inc. (US), Vela Diagnostics (Singapore), and Uniogen Oy (Finland).
The break-up of the profile of primary participants in the infectious disease diagnostics market:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
- By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America - 6%, and Middle East & Africa- 4%
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=116764589
Infectious Disease Diagnostics Market Recent Developments:
- In January 2023, Thermo Fisher Scientific Inc. (US) launched its CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit.
- In July 2022, Roche launched Elecsys HCV Duo, an immunoassay that allows the simultaneous and independent determination of the hepatitis C virus (HCV) antigen and antibody status from a single human plasma or serum sample.
- In September 2022, Siemens Healthineers released its CE-marked FTD SARS-CoV-2/FluA/FluB/HRSV Assay, a PCR test, and the CLINITEST Rapid COVID-19 + Influenza Test.
- In December 2021, Roche completed a purchase agreement with TIB Molbiol (Germany) to expand the PCR-test portfolio in the fight against new infectious diseases.
- In February 2020, Cepheid collaborated with Sherlock Biosciences (US). This collaboration between the two companies aimed to explore the development of new cutting-edge molecular diagnostic tests for infectious diseases leveraging CRISPR technology.
Infectious Disease Diagnostics Market - Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall infectious disease diagnostics market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (Rising prevalence of infectious diseases, Rising focus on R&D and funding in infectious disease diagnostic products, Growing awareness for early disease diagnosis in emerging economies, Adoption of new and advanced technologies for infectious disease diagnosis, Shift in focus from centralized laboratories to decentralized PoC testing centers), opportunities (Increased growth opportunities in emerging economies), restraints (Unfavorable reimbursement scenario), and challenges (Changing regulatory landscape, Operational barriers and shortage of skilled laboratory technicians) influencing the growth of the infectious disease diagnostics market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the infectious disease diagnostics market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the infectious disease diagnostics market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the infectious disease diagnostics market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Abbott (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMérieux (France), Siemens Healthineers AG (Germany), Danaher (US), and Thermo Fisher Scientific Inc. (US), among others in the infectious disease diagnostics market strategies.
Related Reports:
Veterinary Diagnostic Market - Global Forecasts to 2029
Veterinary Equipment and Supplies Market - Global Forecasts to 2028
Veterinary Vaccines Market - Global Forecasts to 2027
Veterinary Infectious Disease Diagnostics Market - Global Forecasts to 2026
Companion Diagnostics Market - Global Forecasts to 2026
About MarketsandMarkets:
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/infectious-disease-diagnostics-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/infectious-disease-diagnostics.asp
Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/infectious-disease-diagnostics-market-worth-31-5-billion--marketsandmarkets-302029331.html
