Monkeypox Therapeutics Market – A Move t...
Posted in Healthcare Services by Adolf on Nov 21,2022 273
Infectious Disease Diagnostics (IDD) comprises of various diagnostics technologies and platforms used by healthcare professionals to detect and diagnose infectious diseases causing pathogens in human samples, including blood, throat swabs, urine and stool. It enables healthcare professionals for early diagnosis of the diseases and serves the patient population with better care management in less time and cost.
With growing technological advancements, the IDD platforms are increasingly becoming more useful to serve the patients with a more convenient, faster, and highly accurate diagnosis. It helps the end-users to provide a cost-effective diagnostics process to the patient population. Some of the factors that boost the technology are the increasing prevalence of infectious diseases, the requirement of early detection for infectious disease, increasing point of care diagnostics and rapid diagnostics, favourable reimbursements, technological advancements and rising investments in diagnostics.
The global infectious disease diagnostics market size is projected to reach US$ 33.1 billion by 2027 from US$ 35.5 billion in 2022, at a -1.4% CAGR. The market is driven by factors such as indication of infectious diseases, growing trend in POC testing and rising technological advancements.
The infectious disease diagnostics market is segmented into reagents, kits, and consumables; instruments; and software & services. The reagents, kits, and consumables segment accounted for the largest market share in the infectious disease diagnostics market in 2021. Major factors driving the growth of this segment include the increasing number of infectious disease diagnostic tests carried out, the growing need for more reliable, more specific and faster detection of infectious diseases in the early stages. This is the largest and fastest-growing product segment in the infectious disease diagnostics market. Also, the frequent need for reagents & kits makes it a recurrent cost.
Based on the disease type, the infectious disease diagnostics market is segmented into COVID-19, HIV, Hospital-acquired infections, hepatitis, Chlamydia trachomatis, Neisseria Gonorrhea, HPV, Tuberculosis, influenza, syphilis, mosquito-borne diseases and other infectious diseases. In 2021, the mosquito-borne diseases segment accounted for the highest CAGR.
Based on end-users, the infectious disease diagnostics market is segmented into diagnostic laboratories, hospitals & clinics, academic research institutes, and other end users. The diagnostic laboratories segment accounted for the largest market share in 2021. This can be attributed to the development of complex and highly specialized tests in infectious disease diagnostics and strengthening healthcare infrastructures for efficient disease diagnosis and treatment.
The growth in the infectious disease diagnosis market is mainly attributed to the increasing global prevalence of infectious diseases such as COVID-19, Ebola and Swine Flu, among others; growing awareness for early detection using specific diagnostic tests; growth in funding for research on infectious disease diagnostics; and shift in focus from centralized laboratories to decentralized point-of-care testing services. Moreover, advances in genomics and proteomics and emerging countries provide increasing growth opportunities for players operating in the market.
Furthermore, the comprehensive market study aims at estimating the size and future growth potential of the market across different segments, such as product & service, test of testing, technology, disease type, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Lastly, the study will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall infectious disease diagnostics market and its sub-segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.