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Meningitis Diagnosis and Treatment Market Size 2021 | Global Industry Analysis, Size, Growth, New Therapies, New Developments, Top Companies, Key Region, Forecast to 2023

iCrowdNewswire   Jan 22, 2021  5:00 AM ET

Meningitis Diagnosis and Treatment Market Overview

As conferred in the latest MRFR analysis, the global meningitis diagnosis and treatment market is anticipated to witness 3.38% CAGR during the forecast period of 2018-2023. The report also states that the global meningitis diagnosis market is expected to reach a revenue valuation of USD 430.2 million by the end of 2023.

Meningitis refers to a pathogenic inflammation that affects the brain and the spinal cord of the patient. Various symptoms of meningitis include neck pain, fever, and headache. Other symptoms include limb pain, pale skin, and cold hands and feet. Meningitis is a fatal disease if proper treatment is not received and demands timely intervention checks.

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Meningitis Diagnosis and Treatment Market Dynamics

The global meningitis diagnosis and treatment market is primarily driven by the growing prevalence of meningitis and the increasing efforts invested to combat the disease. Further, the expanding scope of the healthcare sector in developing economies across the globe is also promoting sizeable growth in the global meningitis diagnosis market. Growing prevalence of pathogenic infections is another influential factor leading to the ascension of the global meningitis treatment market. Intensifying demand for point of care diagnostic services, specifically for chronic diseases, is also a significant factor causative of the augmentation of the global meningitis diagnosis and treatment market.

Although many factors are boosting growth in the global meningitis diagnosis and treatment market, a lack of awareness towards meningitis in many emerging nations is hindering market growth to a great extent. Another factor posing as a restraint on the growth of the meningitis diagnosis and treatment market is the possibility of harmful side effects of the antibiotics used to treat meningitis.

Meningitis Diagnosis and Treatment Market Segmentation

In the MRFR report, the global meningitis diagnosis and treatment market is segmented into disease type, service, end-user, and region. Based on disease type, the global meningitis diagnosis and treatment market has been segmented into viral meningitis, bacterial meningitis, and fungal meningitis. In 2017, viral meningitis and bacterial meningitis segments accounted for 40% of the share for meningitis treatment market. These two segments are also estimated to dictate the global meningitis diagnosis market through the forecast period.

The global meningitis diagnosis and treatment market, by service, has been studied for the segmented into treatment and diagnosis. The treatment segment is further sub-segmented into antibiotics, antifungal drugs, and steroids. The diagnosis segment is further sub-segmented into imaging, blood tests, and lumbar puncture. The treatment segment held the larger share in the global meningitis diagnosis and treatment market in 2017 and is expected to exhibit the highest CAGR at the end of 2023.

Based on end-user, the global meningitis diagnosis and treatment market is segmented into diagnostic centers, and hospitals & clinics. The hospitals and clinics segment captured the largest share in the global meningitis diagnosis and treatment market in 2017 and showcased a revenue valuation of USD 274.12 million. Over the forecast period, the hospitals and clinics segment is expected to witness the fastest CAGR of 3.54%. Such speedy growth rate can be ascribed to the mounting demand for advanced meningitis diagnosis and treatment procedures in hospitals and clinics.

Meningitis Diagnosis and Treatment Market Regional Analysis

The global meningitis diagnosis and treatment market is geographically segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. Among these segments, the Americas are estimated to stand at the forefront of the meningitis diagnosis and treatment market during the assessment period. Europe is anticipated to follow the Americas and garner the second largest share in the meningitis diagnosis and treatment market. On the other hand, Asia Pacific is expected to witness the highest CAGR of 4.07% over the review period of 2018-2023. This fast-paced mushrooming of the market can be attributed to the burgeoning awareness about meningitis and the budding financial capacity of the healthcare sector in the region.

Meningitis Diagnosis and Treatment Market Key Players

The global meningitis diagnosis and treatment market report by MRFR has profiled many prominent vendors including Sanofi, Merck KGaA, Pfizer Inc., F. Hoffman-La Roche Ltd., Cepheid, B. Braun Melsungen AG, Bio-Rad Laboratories Inc., Siemens Healthcare Private Limited, Luminex Corporation, GlaxoSmithKline plc, Baxter, Abbott, Thermo Fisher Scientific Inc., Quest Diagnostics Inc., and Pfizer Inc.

Meningitis Diagnosis and Treatment Industry Update

May 2019: Matinas BioPharmas Holding, Inc. recently announced the publication of efficacy results from preclinical animal models to evaluate MAT2203 for the treatment of cryptococcal meningitis. The clinical-stage biopharmaceutical company made this announcement in the American Society for Microbiology Journal.

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