Press Release

Infectious Disease Testing Market to Grow with a CAGR of 7.71% through 2028

Increasing prevalence of emerging diseases and technological advancement in advanced diagnostic technologies is expected to drive the Global Infectious Disease Testing Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Infectious Disease Testing Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Infectious Disease Testing Market stood at USD 34.09 billion in 2022 and is anticipated to grow with a CAGR of 7.71% in the forecast period, 2024-2028. The growth of the global infectious disease diagnostic market is primarily driven by the increasing prevalence of infectious diseases such as hepatitis, influenza, and HIV.

Additionally, there is a rising demand for point-of-care diagnostic tests and increased funding from both private and government organizations for diagnostic service centers. Furthermore, advancements in technologies in the field of infectious disease diagnostics contribute to this growth.

                                                                                             

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Infectious Disease Testing Market

The global geriatric population is on the rise, with over 727.0 million individuals worldwide falling into the 65 and above age group. Due to factors such as multimorbidity, reduced immune function, and physiological changes associated with aging, the elderly are more vulnerable to COVID-19. In 2021, the CDC reported that 80% of COVID-19-related deaths occurred in individuals over 65 years old. Consequently, continuous testing of this demographic is crucial to prevent severe infections, presenting growth opportunities for molecular diagnostic tests in countries like Russia, Japan, and the U.S., which have the highest elderly populations globally. Given the diverse nature of infectious diseases and the increasing resistance of causative agents, it is imperative that the infectious disease molecular diagnostics test menus remain dynamic and comprehensive. For example, when the coronavirus outbreak in China was declared a global health emergency by the WHO in January 2020, RT-PCRs and sequencing tools were employed to identify and characterize the virus.

An anticipated increase in external funding for conducting clinical studies in infectious disease molecular diagnostics is expected to drive market growth. Funding plays a significant role in the product development process. Notably, in October 2019, Sense Biodetection Limited secured a USD 16.85 million investment for the development of point-of-care molecular diagnostics, with an initial focus on infectious diseases such as influenza diagnostics.

Other key drivers of market expansion include the rising prevalence of infectious diseases, the shift towards point-of-care testing from centralized laboratories, and increased R&D activity in infectious disease diagnostics. Scientific research and development efforts in developing novel technologies and techniques, such as mass spectrometry and next-generation sequencing (NGS), have led to the evolution of rapid diagnostics for disease detection, further fueling market growth. For instance, according to an article by Frontiers in February 2022, non-typhoidal Salmonella causes nearly 93.8 million cases of gastroenteritis globally each year, highlighting the need for effective diagnostics. The increasing preference for point-of-care testing by end users is also expected to drive market expansion. Point-of-care diagnostics provide quick and valuable information for patient care, particularly where the disease is being experienced. Consequently, several companies are focusing on research and development initiatives to create point-of-care diagnostic solutions for developing nations. Major market players are constantly updating their product lines through the introduction of new products, joint ventures, mergers, and acquisitions, all of which contribute to the expansion of the global study market. For example, in December 2021, Roche launched the first infectious disease tests on the Cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark. Similarly, in May 2021, Torus Biosystems revealed a USD 25 million series financing to advance infectious disease diagnostics across healthcare settings.

Factors such as the rising prevalence of infectious diseases and increasing initiatives by major market players are expected to drive market growth over the forecast period. However, limitations in reimbursements and rising healthcare costs are restraining the market's growth, as they hinder the utilization of novel diagnostic techniques.

Additionally, the increase in the number of medical laboratories for infectious disease diagnostic testing is anticipated to contribute to market growth. In 2020, the Government of India announced the launch of three state-of-the-art high-throughput Indian Council of Medical Research labs in Kolkata, Mumbai, and Noida, aimed at increasing COVID-19 testing capacity. These labs are not only used for COVID-19 tests but also for the diagnosis of other infectious diseases such as HIV, hepatitis, tuberculosis, and dengue. Furthermore, the rise in awareness among individuals for early diagnosis and management of infectious diseases, along with the increase in information technology systems to develop advanced diagnostic devices, is expected to provide lucrative opportunities for the expansion of the global infectious disease diagnostic market during the forecast period.

Therefore, technological advancements in diagnostic instruments and increased awareness regarding early diagnosis are driving market growth. However, the high cost associated with diagnostic instruments and the lack of skilled technicians are expected to restrict market growth during the forecast period.

 

The Global Infectious Disease Testing Market is segmented into product & service, technology, disease, end user, regional distribution, and company.

Based on disease, the segment of the Human Immunodeficiency Virus (HIV) is projected to hold a significant market share during the forecast period. The study anticipates substantial growth in this segment. According to the updated data from the Minority of HIV/AIDS Fund (MHAF), United States Department of Health and Human Services Statistics in June 2021, there were approximately 37.6 million people living with HIV worldwide in 2020, including 35.9 million adults and 1.7 million children under the age of 15. The same source also estimates that around 1.5 million people globally contracted HIV in 2020. The increasing prevalence of HIV and the demand for diagnostic tests and detection are driving the market expansion.

Furthermore, the Human Rights Campaign (HRC) Foundation and "Us Helping Us" launched the first in-home HIV testing program for residents in the United States in August 2021. This initiative, along with other global efforts, is expected to contribute to market growth during the forecast period, as it raises awareness about HIV. Moreover, the market's expansion will be accelerated by new research and developments, technological advancements, and the introduction of technologically enhanced products by key competitors. For instance, Altona Diagnostics One introduced the 1.5 AltoStar HIV RT-PCR Kit in April 2021, an in-vitro diagnostic test that uses real-time RT-PCR technology to identify and quantify HIV-specific RNA in human plasma. Therefore, considering the increasing HIV infections, ongoing research and developments, and technological advancements, the Human Immunodeficiency Virus (HIV) segment is expected to experience significant growth over the forecast period.

Based on region, North America segment is expected to grow during the forecast period. North America is expected to witness significant market growth during the forecast period. It is projected to hold a significant market share driven by several factors. These include the increasing prevalence of infectious diseases, high healthcare expenditure, and growing awareness among the population regarding the availability of diagnostic devices. For instance, according to the CDC, the 2021 flu season in the United States resulted in 9 million illnesses, 4 million medical visits, and 10,000 hospitalizations. The rising burden of diseases is predicted to further drive market growth in the upcoming years.

Furthermore, in June 2021, Dipanjan Pan's laboratory at the University of Maryland School of Medicine (UMSOM) was registered by the FDA as an approved laboratory development site for RNA Disease Diagnostics Inc.'s Antisense COVID-19 molecular diagnostic test. Considering these developments, significant market expansion is anticipated in the region during the projected period.

In addition, strategic activities such as collaborations, acquisitions, and grant programs are expected to accelerate market expansion in the country. For example, in July 2021, Omega Specialty Nurses (OSN), House of Sophrosyne, and the Viral Hepatitis Care Network in Ontario received grants from the 2021 CONNECT-C Grant Program by Gilead Sciences Canada, Inc. This initiative aims to expand the number of hepatitis screening centers across the nation, thereby improving disease diagnosis and product adaptability. Moreover, expanding investments in disease model analysis are driving the market growth. In April 2021, the government of Canada established five multidisciplinary infectious disease modeling networks with a total expenditure of USD 10 million. These efforts will enhance Canada's ability to respond effectively to potential threats to public health, fostering industry expansion and improving the coordination of infectious disease modeling. 

 

Major companies operating in Global Infectious Disease Testing Market are:

  • Biomérieux SA
  • Abbott Laboratories Inc.
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories Inc.
  • Danaher Corporation
  • F. Hoffmann-La Roche AG
  • Siemens Healthineers AG
  • Thermo Fisher Scientific Inc.
  • Quidel Corporation
  • Trinity Biotech PLC

 

Download Free Sample Report

Customers can also request for 10% free customization on this report.

 

“The market is anticipated to experience substantial growth due to numerous opportunities within its domain. These opportunities encompass a wide scope for the adoption of infectious disease biomarker testing products in emerging nations, an increase in the adoption of automation and multiplexing technologies, and a rise in the number of CROs offering disease testing services. However, certain challenges pose constraints on its growth. These challenges include an uncertain reimbursement scenario, a lack of high-complexity testing centers, and complex regulatory frameworks that delay the approval of new tests. Nevertheless, with growing government support worldwide to enhance patient care and improve healthcare infrastructure, the infectious disease biomarker testing market is projected to witness robust growth. The entry of new companies into the market and the launch of new biomarker testing product lines are also expected to further boost growth in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Infectious Disease Testing Market Segmented By Product & Service (Assays, Kits, & Reagents, Instruments, Services & Software), By Technology (Molecular Diagnostics, Immunoassay, Microbiology, Others), By Disease (Hepatitis, Human Papillomavirus (HPV), Human Immunodeficiency Virus (HIV), Tuberculosis (TB), Hospital-Acquired Infections (HAIs), Others), By End User (Hospital and Clinical Laboratories, Diagnostic Reference Laboratories, Academic/Research Institutes, Others), By Region and Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Infectious Disease Testing 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 Infectious Disease Testing Market.

Contact

Techsci Research LLC

420 Lexington Avenue

Suite 300, New York

United States- 10170

M: +13322586602

Email: [email protected]

Web:  https://www.techsciresearch.com

Relevant News