Differential Diagnostics Market to be dominated by diagnostic centers through 2028
Increasing the number of diagnostic tests is expected
to drive the growth of Global Differential Diagnostics in the forecast period,
2024-2028.
According to TechSci Research report, “Differential Diagnostics Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Differential Diagnostics Market is anticipated to grow at an
impressive rate in the forecast period, 2024-2028. This can be ascribed
to the increasing incidence of chronic diseases due to evolving pathogens and
the growing occurrence rate of hospital-acquired infections across the globe.
Additionally, growing demand for accurate, accessible, and relatively
inexpensive diagnosis for the treatment of chronic diseases are expected to
create lucrative growth during the forecasted period. Also, increasing the number of diagnostic
tests due to increasing novel diseases is anticipated to boost the growth of
the market during the forecasted period. Also, the growing demand for
point-of-care testing has also enhanced the demand for the differential
diagnostics market over the years. Additionally, the growing number of clinics
and diagnostic labs in the developing region also boosts the growth of the
market in the forecasted period. Besides, increasing the number of diabetes and
diabetic foot ulcers related diseases and the growing number of patients
suffering due to different types of diseases is further expected to support the
market growth.
However, the high
cost of medical expenditure can create affordability issues thereby slowing
down the growth of the Global Differential Diagnostics Market in the forecast
period. Similarly, a lack of awareness among individuals and healthcare
professionals especially in developing countries may hamper the differential
diagnostics market growth during the forecast period. Also, poor reimbursement scenarios
and a lack of insurance coverage for surgeries in emerging countries can
further restrict the growth of the Global Differential Diagnostics Market.
Also, a longer duration of differential diagnosis can restrain the growth of
the differential diagnostics market during the forecasted period.
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Global differential diagnostics
market can be segmented by treatment type, usability, end use, and by region.
Based on Treatment Type, the Global Differential
Diagnostics Market can be segmented into Chest Pain,
Headache, Fever, Pneumonia, Hypertension, Fatigue, and Sleep Problems. The chest pain segment dominated the market
in 2022 and is expected to continue maintaining its dominance throughout the
forecast period. This can be ascribed due to the increasing prevalence of
cardiovascular diseases such as myocarditis, angina, aortic aneurysm, and pulmonary
hypertension due to consuming alcohol, smoking, excessive stress, and eating
junk food. Also, the growing demand for advanced treatment for chronic diseases
is expected to enhance the demand for the differential diagnostics market
during the forecasted period.
Based on end users, the market can be segmented
into Hospitals, Diagnostic Centers, and Others. The diagnostic center’s segment
is expected to dominate during the forecast period on account of increasing the
patient population and increasing the number of hospitals across the world.
Also, the growing demand for new testing kits for the early detection of
chronic diseases is anticipated to boost the growth of the market over the
years.
Major companies operating in the global differential
diagnostics market are:
- Thermo
Fisher Scientific Inc.
- Hologic,
Inc.
- Quidel
Corporation.
- F. Hoffmann-La Roche Ltd.
- Abbott
Laboratories, Inc.
- Danaher
Corporation
- Meridian
Bioscience Inc.
- GenMark
Diagnostics, Inc.
- Sekisui
Diagnostics Co., Ltd.
- Luminex
Corporation.
In March 2021, BioFire Diagnostics (A
Subsidiary of biomérieux SA) received the market authorization for BioFire
respiratory panel 2.1, a diagnostic test for detecting and identifying multiple
respiratory viral and bacterial infections nucleic acids in nasopharyngeal
swabs. This has helped the company to commercialize its product.
In March 2021, F. Hoffmann-La Roche Ltd
entered into a definitive merger agreement for Roche to fully acquire GenMark
Diagnostics. This has helped the company to increase its portfolio.
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“North
America is expected to dominate the Global Differential Diagnostics Market on
account due to the increasing prevalence of chronic wound-related diseases across
the region. Furthermore, increasing the availability of appropriate
reimbursement programs in the U.S. and Canada and increasing healthcare
expenditure are further contributing to the demand for differential diagnostics.
Also, the growing demand for point-of-care testing is expected to drive the
growth of the market during the forecasted period. Besides, the availability of
skilled professionals and increasing demand for an advanced diagnosis like
pachymetry for measuring the corneal thickness in the region is further
expected to create lucrative opportunities for the market growth” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Differential Diagnostics Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Treatment Type (Chest Pain, Headache, Fever, Pneumonia,
Hypertension, Fatigue, Sleep Problems), By Usability (Physical Health Disorders,
Mental Health Disorders), By End Use (Hospitals, Diagnostic Centers, Others) and By Region”, has evaluated the future growth potential of global differential
diagnostics 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 differential diagnostics
market.
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