Differential Diagnostics Market is expected to grow at a CAGR of 7.83% through 2031
Increasing the number of diagnostic tests is expected
to drive growth in global differential diagnostics during the forecast period, 2027-2031F.
According to TechSci Research report, “Differential Diagnostics Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031F”, the Global Differential Diagnostics Market will grow from USD 7.61 Billion in 2025 to USD 11.96 Billion by 2031 at a 7.83% CAGR.
This can be attributed to the increasing incidence of chronic diseases due to evolving pathogens and the rising incidence of hospital-acquired infections worldwide.
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. Additionally, the rise in diagnostic testing for novel diseases is expected to drive market growth over the forecast 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 increasing number of clinics and diagnostic laboratories in the developing region is expected to drive market growth over the forecast 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, particularly in developing countries, may hamper growth in the differential diagnostics market during the forecast period. Additionally, inadequate reimbursement and limited insurance coverage for surgical procedures in emerging economies can further constrain the development of the Global Differential Diagnostics Market. Additionally, a longer duration of the differential diagnosis process can constrain the growth of the differential diagnostics market over the forecast period.
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Global differential diagnostics
market can be segmented by treatment type, usability, end use, and by region.
By 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. Additionally, the growing demand for advanced treatments for chronic diseases is expected to increase demand for the differential diagnostics market over the forecast 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. Additionally, the growing demand for new testing kits for the early detection of chronic diseases is expected to drive market growth 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.
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“North
America is expected to dominate the Global Differential Diagnostics Market due to the increasing prevalence of chronic wound-related diseases across
the region. Furthermore, the expansion of appropriate reimbursement programs in the U.S. and Canada, along with rising healthcare expenditure, is contributing to the demand for differential diagnostics. Additionally, the growing demand for point-of-care testing is expected to drive market growth over the forecast 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, 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), By Region and Competition 2021-2031F”, 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 aims to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. The report also identifies and analyses emerging trends, as well as essential drivers, challenges, and opportunities, in the global differential diagnostics market.
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