Global Infectious Disease Diagnostics Market Set For Rapid Growth

The global infectious disease diagnostics market was valued at approximately USD 14730.36 million in 2017 and is expected to generate revenue of around USD 21286.18 million by end of 2024, growing at a CAGR of around 5.4 percent between 2018 and 2024. Infectious disease diagnostics are those devices which are used for the detection of microorganism present in the human body. Infectious diseases are caused due to various means such as infected food, water, air, surrounding, from an infected person, and others. Bacteria, virus, fungi, and others are the main protozoan’s responsible for such infections. These can be detected by the means of various laboratory test and various companies are also focusing on the development of in vitro diagnostics for such purposes. Bacterial infections, GI infections, and sexually transmitted disease (STD’s) are the most common infections among patients as compared to other bacterial infections.

One of the major factors driving the growth of infectious disease diagnostics market is a constant increase in the prevalence of infectious diseases over the period of time. As per the Centers for Disease Control and Prevention report, there were around 2.3 million people diagnosed with syphilis, gonorrhea, and chlamydia, in the US in 2017. Moreover, the increased prevalence of infectious diseases has increased the demand for better diagnostic facilities which is expected to further drive the growth of infectious disease diagnostics market. There are various initiatives taken by the government to increase the awareness and prevention of infectious diseases, which is expected to fuel the growth of infectious disease diagnostics market. Furthermore, technological advancement and new product launch in the market is also expected to support the growth of infectious disease diagnostics market. However, lack of awareness about advanced technology among people and lack of regulatory compliance are expected to inhibit the growth of infectious disease diagnostics market. Infectious disease diagnostics market is segmented into product type, test type, application, and end-user.

Based on product type, the infectious disease diagnostics market is fragmented to consumables, instruments, and software & services. On the basis of test type, infectious disease diagnostics market is segmented to laboratory tests, an imaging test, and biopsies. Based on applications, infectious disease diagnostics market is classified into viral infection, bacterial infection, CNS infections, cardiovascular infection, GI infections, sexually transmitted disease, fungal infection and other. Based on end-users, infectious disease diagnostics market is segmented into diagnostic laboratories, contract research organization, academic and medical institutes, hospitals and surgical centers, ambulatory clinics, and home healthcare. The Infectious disease diagnostics market is regionally segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. North America is expected to dominate the infectious disease diagnostics market due to the presence of advanced medical facilities and presence of major players. Europe is expected to be the second largest growing region due to the high investment and technological advancement of infectious disease diagnostics.

The Asia-Pacific is expected to be the fastest growing region due to the high prevalence of infectious disease and various government initiatives to increase awareness among people are expected to promote the growth of infectious disease diagnostics market. Furthermore, Latin America and the Middle East and Africa are expected to show a considerable growth owing to the poor living conditions and lack of awareness among people are the factors supporting the growth of infectious disease diagnostics market. Some of the major players of infectious disease diagnostics market include Becton Dickinson & Company, Affymetrix, Abbott Laboratories, Cepheid Inc., BioMerieux, Hologic Inc., DiaSorin, Bio-Rad Laboratories Inc., Alere Inc., and Danaher Corporation, among others. – Zion Market Research