Infectious Disease Testing Market to Grow with a CAGR of 7.71% through 2028
Increasing prevalence of emerging diseases and
technological advancement in advanced diagnostic technologies is expected to
drive the Global Infectious Disease Testing Market growth in the forecast
period, 2024-2028.
According to
TechSci Research report, “Infectious Disease Testing Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Infectious Disease Testing Market stood at USD 34.09 billion in 2022
and is anticipated to grow with a CAGR of 7.71% in the forecast period,
2024-2028. The growth of the global infectious disease diagnostic market is
primarily driven by the increasing prevalence of infectious diseases such as
hepatitis, influenza, and HIV.
Additionally,
there is a rising demand for point-of-care diagnostic tests and increased
funding from both private and government organizations for diagnostic service
centers. Furthermore, advancements in technologies in the field of infectious
disease diagnostics contribute to this growth.
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"Global Infectious Disease Testing Market”
The global
geriatric population is on the rise, with over 727.0 million individuals
worldwide falling into the 65 and above age group. Due to factors such as
multimorbidity, reduced immune function, and physiological changes associated
with aging, the elderly are more vulnerable to COVID-19. In 2021, the CDC
reported that 80% of COVID-19-related deaths occurred in individuals over 65
years old. Consequently, continuous testing of this demographic is crucial to
prevent severe infections, presenting growth opportunities for molecular
diagnostic tests in countries like Russia, Japan, and the U.S., which have the
highest elderly populations globally. Given the diverse nature of infectious
diseases and the increasing resistance of causative agents, it is imperative
that the infectious disease molecular diagnostics test menus remain dynamic and
comprehensive. For example, when the coronavirus outbreak in China was declared
a global health emergency by the WHO in January 2020, RT-PCRs and sequencing
tools were employed to identify and characterize the virus.
An anticipated
increase in external funding for conducting clinical studies in infectious
disease molecular diagnostics is expected to drive market growth. Funding plays
a significant role in the product development process. Notably, in October
2019, Sense Biodetection Limited secured a USD 16.85 million investment for the
development of point-of-care molecular diagnostics, with an initial focus on
infectious diseases such as influenza diagnostics.
Other key
drivers of market expansion include the rising prevalence of infectious
diseases, the shift towards point-of-care testing from centralized
laboratories, and increased R&D activity in infectious disease diagnostics.
Scientific research and development efforts in developing novel technologies
and techniques, such as mass spectrometry and next-generation sequencing (NGS),
have led to the evolution of rapid diagnostics for disease detection, further
fueling market growth. For instance, according to an article by Frontiers in
February 2022, non-typhoidal Salmonella causes nearly 93.8 million cases of
gastroenteritis globally each year, highlighting the need for effective
diagnostics. The increasing preference for point-of-care testing by end users
is also expected to drive market expansion. Point-of-care diagnostics provide
quick and valuable information for patient care, particularly where the disease
is being experienced. Consequently, several companies are focusing on research
and development initiatives to create point-of-care diagnostic solutions for
developing nations. Major market players are constantly updating their product
lines through the introduction of new products, joint ventures, mergers, and
acquisitions, all of which contribute to the expansion of the global study
market. For example, in December 2021, Roche launched the first infectious
disease tests on the Cobas 5800 System, a new molecular laboratory instrument,
in countries accepting the CE mark. Similarly, in May 2021, Torus Biosystems
revealed a USD 25 million series financing to advance infectious disease
diagnostics across healthcare settings.
Factors such as
the rising prevalence of infectious diseases and increasing initiatives by
major market players are expected to drive market growth over the forecast
period. However, limitations in reimbursements and rising healthcare costs are
restraining the market's growth, as they hinder the utilization of novel
diagnostic techniques.
Additionally,
the increase in the number of medical laboratories for infectious disease
diagnostic testing is anticipated to contribute to market growth. In 2020, the
Government of India announced the launch of three state-of-the-art
high-throughput Indian Council of Medical Research labs in Kolkata, Mumbai, and
Noida, aimed at increasing COVID-19 testing capacity. These labs are not only
used for COVID-19 tests but also for the diagnosis of other infectious diseases
such as HIV, hepatitis, tuberculosis, and dengue. Furthermore, the rise in
awareness among individuals for early diagnosis and management of infectious
diseases, along with the increase in information technology systems to develop
advanced diagnostic devices, is expected to provide lucrative opportunities for
the expansion of the global infectious disease diagnostic market during the
forecast period.
Therefore,
technological advancements in diagnostic instruments and increased awareness
regarding early diagnosis are driving market growth. However, the high cost
associated with diagnostic instruments and the lack of skilled technicians are
expected to restrict market growth during the forecast period.
The Global Infectious
Disease Testing Market is segmented into product & service, technology,
disease, end user, regional distribution, and company.
Based on disease,
the segment of the Human Immunodeficiency Virus (HIV) is projected to hold a
significant market share during the forecast period. The study anticipates
substantial growth in this segment. According to the updated data from the
Minority of HIV/AIDS Fund (MHAF), United States Department of Health and Human
Services Statistics in June 2021, there were approximately 37.6 million people
living with HIV worldwide in 2020, including 35.9 million adults and 1.7
million children under the age of 15. The same source also estimates that
around 1.5 million people globally contracted HIV in 2020. The increasing
prevalence of HIV and the demand for diagnostic tests and detection are driving
the market expansion.
Furthermore, the
Human Rights Campaign (HRC) Foundation and "Us Helping Us" launched
the first in-home HIV testing program for residents in the United States in
August 2021. This initiative, along with other global efforts, is expected to
contribute to market growth during the forecast period, as it raises awareness
about HIV. Moreover, the market's expansion will be accelerated by new research
and developments, technological advancements, and the introduction of
technologically enhanced products by key competitors. For instance, Altona
Diagnostics One introduced the 1.5 AltoStar HIV RT-PCR Kit in April 2021, an
in-vitro diagnostic test that uses real-time RT-PCR technology to identify and
quantify HIV-specific RNA in human plasma. Therefore, considering the
increasing HIV infections, ongoing research and developments, and technological
advancements, the Human Immunodeficiency Virus (HIV) segment is expected to
experience significant growth over the forecast period.
Based on region,
North America segment is expected to grow during the forecast period. North
America is expected to witness significant market growth during the forecast
period. It is projected to hold a significant market share driven by several
factors. These include the increasing prevalence of infectious diseases, high
healthcare expenditure, and growing awareness among the population regarding
the availability of diagnostic devices. For instance, according to the CDC, the
2021 flu season in the United States resulted in 9 million illnesses, 4 million
medical visits, and 10,000 hospitalizations. The rising burden of diseases is
predicted to further drive market growth in the upcoming years.
Furthermore, in
June 2021, Dipanjan Pan's laboratory at the University of Maryland School of
Medicine (UMSOM) was registered by the FDA as an approved laboratory
development site for RNA Disease Diagnostics Inc.'s Antisense COVID-19
molecular diagnostic test. Considering these developments, significant market
expansion is anticipated in the region during the projected period.
In addition,
strategic activities such as collaborations, acquisitions, and grant programs
are expected to accelerate market expansion in the country. For example, in
July 2021, Omega Specialty Nurses (OSN), House of Sophrosyne, and the Viral
Hepatitis Care Network in Ontario received grants from the 2021 CONNECT-C Grant
Program by Gilead Sciences Canada, Inc. This initiative aims to expand the
number of hepatitis screening centers across the nation, thereby improving
disease diagnosis and product adaptability. Moreover, expanding investments in
disease model analysis are driving the market growth. In April 2021, the
government of Canada established five multidisciplinary infectious disease
modeling networks with a total expenditure of USD 10 million. These efforts
will enhance Canada's ability to respond effectively to potential threats to
public health, fostering industry expansion and improving the coordination of
infectious disease modeling.
Major companies
operating in Global Infectious Disease Testing Market are:
- Biomérieux SA
- Abbott Laboratories
Inc.
- Becton, Dickinson
and Company
- Bio-Rad
Laboratories Inc.
- Danaher Corporation
- F. Hoffmann-La
Roche AG
- Siemens
Healthineers AG
- Thermo Fisher
Scientific Inc.
- Quidel Corporation
- Trinity Biotech PLC
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“The market is
anticipated to experience substantial growth due to numerous opportunities
within its domain. These opportunities encompass a wide scope for the adoption
of infectious disease biomarker testing products in emerging nations, an
increase in the adoption of automation and multiplexing technologies, and a
rise in the number of CROs offering disease testing services. However, certain
challenges pose constraints on its growth. These challenges include an
uncertain reimbursement scenario, a lack of high-complexity testing centers,
and complex regulatory frameworks that delay the approval of new tests.
Nevertheless, with growing government support worldwide to enhance patient care
and improve healthcare infrastructure, the infectious disease biomarker testing
market is projected to witness robust growth. The entry of new companies into
the market and the launch of new biomarker testing product lines are also
expected to further boost growth in the coming years.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Infectious Disease Testing Market Segmented By Product
& Service (Assays, Kits, & Reagents, Instruments, Services &
Software), By Technology (Molecular Diagnostics, Immunoassay, Microbiology,
Others), By Disease (Hepatitis, Human Papillomavirus (HPV), Human
Immunodeficiency Virus (HIV), Tuberculosis (TB), Hospital-Acquired Infections
(HAIs), Others), By End User (Hospital and Clinical Laboratories, Diagnostic
Reference Laboratories, Academic/Research Institutes, Others), By Region and Competition, Forecast
& Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Infectious Disease Testing Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Infectious Disease Testing Market.
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