Hospital/Clinical Laboratories to Dominate Infectious Disease Testing Market until 2026
Increasing global prevalence of
infectious diseases and technological advancements to drive the growth of
global infectious disease testing market during the forecast period.
According to TechSci Research report, “Global Infectious
Disease Testing Market 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/Clinical Laboratories, Diagnostic Reference Laboratories, Academic/Research
Institutes, Others), By Region, Forecast & Opportunities, 2026”, global infectious disease testing market was
valued at USD16753.39 million in 2020 and is anticipated to reach USD 27712.09
million in 2026 by registering a growing CAGR of 8.27%. Rising old age
population is one of
the major factors accounting for the growth of global infectious disease testing market.
Moreover, increase in funding for research on infectious disease diagnostics is
expected to bode well for the growth of global infectious disease testing
market through 2026. In addition to this, rapid shift from centralized
laboratories to decentralized point-of-care testing facilities, is positively
influencing the growth of global infectious disease testing market in the years
to come. Also, surging requirement for rapid diagnostic technique over current
techniques due to long turnaround time are making headway for the growth of
global infectious disease testing market. Along with this, supportive
government funding is positively contributing to the market growth. However,
there are some factors that might act as major impediments to the growth of
global infectious disease testing market through 2026 such as rising healthcare
costs and reimbursement concerns.
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Global infectious disease testing market can be
segmented based on product and service, technology, disease, end user, company,
and region. Considering the disease, the market is fragmented into Hepatitis,
Human Papillomavirus (HPV), Human Immunodeficiency Virus (HIV), Tuberculosis
(TB), Hospital-Acquired Infections (HAIs), Others. The hepatitis segment dominated
the global infectious disease testing market in terms of largest market share
until 2020 and is further anticipated to hold its dominance during the forecast
years as well which can be accredited to rising prevalence of hepatitis cases all
across the globe. In addition to that
increasing initiatives by government organizations towards hepatitis prevention
is another major factor forecast to contribute to the segmental growth over the
coming years. In terms of end user, the market is fragmented into hospital/clinical
laboratories, diagnostic reference laboratories, academic/research institutes,
and others. Out of which, the hospital/clinical laboratories segment held the
largest market share in 2020 and is further predicted to maintain its leading
position during the forecast years as well on account of the fact that hospital
laboratories are more accessible when compared to reference laboratories and
offer test results quickly. Furthermore, increase in medicare reimbursement for
clinical tests which are being done in hospitals is another key factor
augmenting the demand for the segment over the years to come.
Abbott Laboratories, Becton, Dickinson and Company, bioMerieux
SA, Bio-Rad Laboratories
Inc., Danaher Corporation, DiaSorin S.p.A., Meridian Bioscience Inc., Quidel
Corporation, Siemens AG, Thermo Fisher Scientific Inc., Johnson and Johnson, F.
Hoffmann-La Roche Ltd., Cepheid Inc., Qiagen N.V., OraSure Technologies, Inc., are among others are
the leading players operating in global infectious disease testing market. The market players are adopting several growth strategies
to enhance infectious disease testing market. Other competitive strategies
include product launches; mergers & acquisitions; agreements, partnerships,
and collaborations; and expansions to diverse their product portfolio in order
to strengthen their market position.
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“North
America is forecast to dominate the global infectious disease testing market during
the next five years on account of presence of an advanced healthcare facility
in the region. Furthermore, growing investments in the healthcare sector coupled
with growing demand for point-of-care testing is also contributing to the
growing trend. Additionally, existence of several leading national clinical
laboratories is expected to further boost the market growth in region over the
coming years. The Asia Pacific region is estimated to exhibit the fastest growth
during the forecast period which can be accredited to the presence of
developing economies such as China and India that have a high prevalence of
infectious diseases.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global
Infectious Disease Testing Market 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/Clinical Laboratories, Diagnostic
Reference Laboratories, Academic/Research Institutes, Others), By Region,
Forecast & Opportunities, 2026”
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.
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