Infectious Disease Testing and Diagnostic Market to Grow at a CAGR of 5.6% During the Forecast Period 2020-2025


Posted August 10, 2020 by Blessy_Joy

An increase in the prevalence of infectious diseases such as HIV/AIDs, Hepatitis, STDs, and the growing adoption of suitable testing methods are driving the Infectious Disease Testing/Diagnostic Market during the forecast period 2020-2025.

 
Infectious Disease Testing/Diagnostic Market size is estimated to be $16.4 billion in 2019, growing at a CAGR of 5.6% during the forecast period 2020-2025. An increase in the prevalence of infectious diseases such as HIV/AIDs, Hepatitis, STDs, and the growing adoption of suitable testing methods are driving the Infectious Disease Testing/Diagnostic Market during the forecast period 2020-2025. Infectious diseases are disorders caused by microorganisms such as bacteria, viruses, fungi, parasites among which some are harmless and some cause dangerous diseases. The infectious disease is passed from person to person or transmitted by insects or other animals and by consuming contaminated food or water or being exposed to organisms in the environment. Moreover, according to the World Health Organization, the Malaria Rapid Diagnostic Test (RDT) had greatly improved the management of malaria infections especially in remote areas with limited access to good quality microscopy services. Also, next-generation sequencing (NGS) holds the potential for improving clinical and public health microbiology along with identifying pathogens more rapidly and precisely than traditional methods.

Key Takeaways
Owing to low sanitary conditions and hygiene practices in the low- and middle-income countries, hepatitis is very high in these regions leading to an increased demand of Infectious Disease Testing/Diagnostic market.

Hospitals and Clinical Laboratories dominated the Infectious diseases testing/diagnostic market in 2019 owing to ease of facilities for testing.

In 2019, North America dominated the Infectious Disease Testing/Diagnostic Market owing to its increased health concern along with better health infrastructure and the presence of large clinical laboratories.

Increase in the prevalence of infectious diseases such as HIV/AIDs, hepatitis, influenza, tuberculosis, and others is a major factor driving the Infectious Diseases Testing Market during the forecast period 2020-2025.

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Geography- Segment Analysis
North America accounts for 38% of the Infectious Disease Testing/Diagnostic Market share in 2019. Increasing health concerns along with the growing demand of advanced testing and a better healthcare structure is a driving its market growth. Furthermore, the presence of large number of clinical laboratories and ease of availability of technology advanced instruments in that region is further driving its market growth.

Drivers –Infectious Disease Testing/Diagnostic Market
Increase in the number of Infectious Disease
Increase in the number of infectious disease is a major factor driving the Infectious Disease Testing/Diagnostic markets during the forecast period 2020-2025. Infectious diseases can be transmitted in several ways from person to person by either insects or animals. Also, increase in the prevalence infectious diseases such as HIV/AIDs, hepatitis, influenza, tuberculosis and others is a major factor driving the Antibody Testing Market during the forecast period 2020-2025.

Increasing Research and Development
Increasing research and development is a key factor contributing to the Infectious Disease Testing/Diagnostic market during the forecast period 2020-2025. Infectious Disease Testing/Diagnostic is a procedure by which the causative agent of an infectious disease is identified and often characterized. Besides, it is solely based on clinical presentation or more rigorous diagnostics test such as culturing of infectious agent, microscopy, biological screens and molecular methods. Furthermore, the increasing threat of emerging and reemerging infectious diseases outbreaks demands research and development (R&D) of effective and fit-for-purpose tools and technologies such as vaccine, drugs, diagnostics, personal protective equipment (PPE) and medical devices.

Infectious Disease Testing/Diagnostic Market Industry Outlook
Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Infectious Disease Testing/Diagnostic Market. In 2019, Infectious Disease Testing/Diagnostic top 10 companies are Abbott Laboratories, Danaher, Bio-Rad Laboratories, bioMérieux SA, F. Hoffmann-La Roche, BD, DiaSorin S.p.A., Meridian Bioscience, Inc., Quidel Corporation, and Thermo Fisher Scientific Inc.

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Issued By Blessy
Business Address Madhapur
Country India
Categories Business
Tags infectious disease testing and diagnostic market , infectious disease testing and diagnostic market growth , infectious disease testing and diagnostic market size
Last Updated August 10, 2020