According to our latest study on “Infectious Disease Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Product, Technology, Testing Type, Disease Indication, and End User," the market is expected to grow from US$ 23,890 million in 2021 to US$ 37,943.90 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.
The report highlights the major factors driving the market and prominent players and their developments. The growth of the global infectious disease diagnostic market is majorly driven by an increase in the prevalence of infectious diseases, including hepatitis, influenza, COVID-19, and human immunodeficiency virus (HIV); a rise in demand for point-of-care diagnostic tests; a surge in funding from private & government organizations for diagnostic service centers; and advancements in technologies in the field of infectious disease diagnostics. However, the high cost associated with diagnostic instruments and the lack of skilled technicians in the global market is hampering the market growth.
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Based on technology, the infectious disease diagnostics market is segmented into immunodiagnostics, polymerase chain reaction, next generation sequencing, clinical microbiology, and others. The immunodiagnostics segment held the largest share of the market in 2021. Moreover, the next generation sequencing segment is anticipated to register the highest CAGR of 7.4% in the market during the forecast period. The Polymerase chain reaction is a laboratory technique used to amplify DNA sequences. The COVID-19 pandemic increased the need for reliable and rapid detection systems, such as qPCR (Polymerase chain reaction). It is the gold standard for detecting SARS-CoV-2, owing to its higher specificity and sensitivity than other tests. The development of RT-qPCR kits that can detect SARS-CoV-2 and their wide acceptance globally are major factors likely to boost the polymerase chain reaction segment. For instance, RT-PCR diagnostic panel CDC 2019-Novel Coronavirus (2019-nCoV) was approved in June 2020 by the FDA for diagnosis of COVID-19. The combination of digital PCR and group testing methods is expected to reduce costs and boost testing capacity. For instance, the COVID-19 test by Stilla Technologies offers group testing, which hampers reagent usage and improves efficiency. This new development allows users to reduce the utilization of select reagents by ~80% without reducing the efficiency of the method, which is anticipated to boost the demand for dPCR, as several manufacturers face reagent scarcity qPCR due to the high demand for SARS-CoV-2 testing globally. Respiratory infection molecular diagnostics witnessed an exponential demand after the spread of SARS-CoV-2 infection. Further, the growing number of product launches in this segment is also driving the infectious disease diagnostics market. For instance, in April 2020, BD announced the launch of the SARS-CoV-2 test on its BD MAX System. Increased rate of automation and the ability to process many samples are expected to fuel the demand for molecular diagnostics reagents and consumables, boosting the growth of the next generation sequencing segment.
F.Hoffmann-La Roche, Ltd.; Danaher Corporation; BD; bioMérieux SA; AccuBioTech Co., Ltd.; Bio-Rad Laboratories, Inc.; ACON Laboratories, Inc.; Abbott; Trinity Biotech; and Cardinal Health, Inc. are among the leading companies in the infectious disease diagnostics market.
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