iCrowd Newswire – Jul 24, 2020
Infectious Disease Testing/Diagnostic Market size is estimated to be $16.4 billion in 2019, growing at a CAGR of 5.6% during the forecast period 2020-2025. An increase in the prevalence of infectious diseases such as HIV/AIDs, Hepatitis, STDs, and the growing adoption of suitable testing methods are driving the Infectious Disease Testing/Diagnostic Market during the forecast period 2020-2025. Infectious diseases are disorders caused by microorganisms such as bacteria, viruses, fungi, parasites among which some are harmless and some cause dangerous diseases. The infectious disease is passed from person to person or transmitted by insects or other animals and by consuming contaminated food or water or being exposed to organisms in the environment. Moreover, according to the World Health Organization, the Malaria Rapid Diagnostic Test (RDT) had greatly improved the management of malaria infections especially in remote areas with limited access to good quality microscopy services. Also, next-generation sequencing (NGS) holds the potential for improving clinical and public health microbiology along with identifying pathogens more rapidly and precisely than traditional methods.
By Types of Diseases- Segment Analysis
By Types of Diseases Hepatitis is forecast to be the fastest growing with CAGR 3.6% during the forecast period 2020-2025. This is owing to the poor sanitary condition and hygiene practices in low- and middle-income countries leading to an increase demand of Infectious diseases testing market during the forecast period 2020-2025. Hepatitis is transmitted through ingestion of contaminated food and water or through direct contact of infected person. According to World Health Organization, hepatitis A caused approximately 7134 deaths in 2016. Also, the World Health Organization has set a goal to eliminate hepatitis B virus (HBV) and hepatitis C virus (HCV) infections as a majorly threat by 2030, which is defined as 80% patients receiving treatment, a 90% reduction in incidence and a 65% reduction in mortality compared to 2015 levels. Moreover, alternative testing tools including Point-of-Care testing (POC) and Dried-Blood-Spots (DBS) has emerged as alternative to gold standard immunoassays, that require access to sophisticated clinical laboratories and are playing a critical role in helping advance the WHO goal. COVID19 testing is gaining significant traction is estimated to make noteworthy impact on the market growth.
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By End-User- Segment Analysis
In 2019, the Hospitals and Laboratories dominated the Infectious Disease Testing/Diagnostic Market owing to ease of facilities for testing. Also, technological advancement leading to rapid diagnostic test which are faster, more reliable, and more widely available are further propelling the infectious diseases testing market during the forecast period 2020-2025. Furthermore, the growth of this segment is majorly owing to the increasing number of test in laboratories and hospitals. Moreover, in April 2018 the researchers from University of Toronto had created a shoe-box sized laboratory that can do blood testing in remote, low resource settings, quickly determining from a drop of blood whether a person has antibodies to specific infectious disease.
Geography- Segment Analysis
North America accounts for 38% of the Infectious Disease Testing/Diagnostic Market share in 2019. Increasing health concerns along with the growing demand of advanced testing and a better healthcare structure is a driving its market growth. Furthermore, the presence of large number of clinical laboratories and ease of availability of technology advanced instruments in that region is further driving its market growth.
Drivers –Infectious Disease Testing/Diagnostic Market
Increase in the number of Infectious Disease
Increase in the number of infectious disease is a major factor driving the Infectious Disease Testing/Diagnostic markets during the forecast period 2020-2025. Infectious diseases can be transmitted in several ways from person to person by either insects or animals. Also, increase in the prevalence infectious diseases such as HIV/AIDs, hepatitis, influenza, tuberculosis and others is a major factor driving the Antibody Testing Market during the forecast period 2020-2025.
Increasing Research and Development
Increasing research and development is a key factor contributing to the Infectious Disease Testing/Diagnostic market during the forecast period 2020-2025. Infectious Disease Testing/Diagnostic is a procedure by which the causative agent of an infectious disease is identified and often characterized. Besides, it is solely based on clinical presentation or more rigorous diagnostics test such as culturing of infectious agent, microscopy, biological screens and molecular methods. Furthermore, the increasing threat of emerging and reemerging infectious diseases outbreaks demands research and development (R&D) of effective and fit-for-purpose tools and technologies such as vaccine, drugs, diagnostics, personal protective equipment (PPE) and medical devices.
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Challenges – Infectious Disease Testing/Diagnostic Market
Lack of Skilled Professionals
Lack of skilled professionals is a major factor restraining the Infectious Disease Testing/Diagnostic Market during the forecast period 2020-2025. Large number of patients and a greater number of available tests is difficult to carry out owing to the lack of skilled professional. In May 2019, according to the Bureau of Labor Statistics the demand of lab workers has grown 13% in the last year, almost double the average of the other U.S. jobs. So, lack of skilled professional disrupts the smooth functioning of Infectious Disease Testing/Diagnostic and serves as a setback for its growth in the market during the forecast period 2020-2025.
Infectious Disease Testing/Diagnostic Market Industry Outlook
Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Infectious Disease Testing/Diagnostic Market. In 2019, Infectious Disease Testing/Diagnostic top 10 companies are Abbott Laboratories, Danaher, Bio-Rad Laboratories, bioMérieux SA, F. Hoffmann-La Roche, BD, DiaSorin S.p.A., Meridian Bioscience, Inc., Quidel Corporation, and Thermo Fisher Scientific Inc.
In February 2020, Cepheid and Sherlock Biosciences collaborated to focus on molecular test for infectious disease, and oncology beginning with a proof-of-concept project focused on the detection of coronavirus.
In April 2018, Brief Chembio Diagnostic and Lumiradx collaborated to develop new point-of-care diagnostics test for infectious diseases.
Owing to low sanitary conditions and hygiene practices in the low- and middle-income countries, hepatitis is very high in these regions leading to an increased demand of Infectious Disease Testing/Diagnostic market.
Hospitals and Clinical Laboratories dominated the Infectious diseases testing/diagnostic market in 2019 owing to ease of facilities for testing.
In 2019, North America dominated the Infectious Disease Testing/Diagnostic Market owing to its increased health concern along with better health infrastructure and the presence of large clinical laboratories.
Increase in the prevalence of infectious diseases such as HIV/AIDs, hepatitis, influenza, tuberculosis, and others is a major factor driving the Infectious Diseases Testing Market during the forecast period 2020-2025.
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