The Global Infectious Disease Diagnostics Market is expected to reach 41,291.40 USD Million by 2028, growing at a CAGR of 6.80% from 2022 to 2028. The growing awareness for early disease diagnosis in developing countries and growth in the prevalence of infectious diseases is anticipated to augment the growth of the market during the forecast period.
- The reagents, kits, and consumables segment held a significant share in 2021. This is attributable to the increasing purchase of these products because of their recurrent usage. Further, the introduction and commercialization of new reagents are also expected to support the segmental growth of the market.
- The immunodiagnostics segment is projected to grow at a significant CAGR during the forecast period. This is attributable to the increasing use of immunoassays in POC infectious disease testing, COVID-19 testing, and the rising trend of automation.
- The diagnostic laboratories segment is projected to grow at a considerable CAGR during the forecast period. This is attributable to the increasing number of initiatives undertaken by the government and high procedure volumes and market penetration.
- Asia Pacific is expected to grow at the fastest CAGR during the forecast period. China accounted for the largest share in APAC in 2021. This is attributable to the rising investments and an increasing prevalence of infectious diseases in emerging economies such as India, and China in the region. Furthermore, the improving healthcare infrastructure and increased awareness among the population are also anticipated to support the regional growth of the market.
Some of key players in Infectious Disease Diagnostics market include Abbott Laboratories (US), F. Hoffmann-La Roche Ltd(Switzerland), bioMérieux SA (France), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Quidel Corporation(US), Hologic, Inc. (US), Siemens Healthineers AG (Germany), Becton, Dickinson and Company (US), PerkinElmer Inc. (US), QIAGEN (Netherlands), Grifols S.A. (Spain), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics (US), Luminex Corporation (US), Meridian Bioscience (US), Genetic Signatures (Australia), OraSure Technologies (US), Trinity Biotech Plc. (Ireland), Chembio Diagnostic Systems, Inc. (US), Seegene Inc. (South Korea), Co-Diagnostics, Inc. (US), ELITechGroup (France), Epitope Diagnostics, Inc. (US), Trivitron Healthcare (India), Meril Life Sciences Pvt. Ltd. (India), InBios International, Inc. (US), and ABACUS Diagnostica Oy (Finland)..
The increasing prevalence of infectious diseases is anticipated to augment the growth of the Infectious Disease Diagnostics market in the years to come. Infectious diseases occur due to the penetration of microscopic organisms in the body and multiply to create symptoms that can range from mild to deadly. These include infections, such as measles, malaria, HIV, and yellow fever, which tend to affect the whole body. As per the statistics by World Health Organization, Vector-borne diseases cause more than 700,000 deaths every year and account for more than 17% of all infectious diseases, and malaria which is a parasitic infection transmitted by Anopheline mosquitoes causes more than 400,000 deaths and 219 million cases are estimated globally every year. Further, dengue results in an estimated 96 million symptomatic cases and an estimated 40,000 deaths every year. With the increase in the rate of these diseases across the globe, the demand for infectious disease diagnostics is also expected to increase. Further, the growing demand for POC testing owing to the supportive government initiatives and rising consumer awareness about faster diagnostics is also expected to propel the demand.
However, the unfavorable reimbursement scenario and changing regulatory landscape are expected to hamper the growth of the market in the years to come. Moreover, an increase in technological advancements in infectious disease diagnostics along with a shift in focus from centralized laboratories to decentralized POC testing is expected to create immense opportunities for the growth of the market within the forecast period.
North America held the largest shares in 2021. The US held the largest share in North America for the Infectious Disease Diagnostics market. This is attributable to the highly developed healthcare system in the US and Canada in the region. Furthermore, the easy accessibility to technologically advanced instruments is also expected to fuel the regional growth of the market. Additionally, the presence of many leading national clinical laboratories in the region is also expected to support the growth of the Infectious Disease Diagnostics market in the region.