Infectious Disease Diagnostics Market to Witness Moderate Growth in the Next Five Years

Infectious disease diagnostics is a process of characterizing or identifying the causative agent of an infectious disease using different diagnostic tools. Prevalence of infectious diseases is high, especially in under developed or developing regions, mainly due to the lack of knowledge or awareness regarding personal hygiene, low healthcare expenditure, and lack of skilled and trained physicians, thereby driving the growth of the global market for infectious disease diagnostics. Due to this, the companies operating in this market have also actively started investing and focusing more on development of novel diagnostics, which in turn will the escalate the growth of this market even further.

How is the IDD market progressing on a global level?

The worldwide infectious disease diagnostics market is projected to grow at CAGR of 7.9% during the forecast period 2014-2019, reaching a value of USD 18,156.2 Million by 2019 from USD 12,422.8 Million in 2014.

Based on product, the consumables segment held the largest share of the market in 2014, and is expected to continue its dominance over the forecast period due to its rising adoption emerging infectious disease diagnostics worldwide. Based on technology, PCR and INAAT are expected to hold the highest market share during the forecast period, while microarrays, INAAT, and NGS are expected to exhibit the highest growth, owing to the rising need for better connectivity, specificity, and faster turnaround time of diagnostics test.

Among end-users, hospital laboratories and reference labs were the largest segments in the IDD market in 2014, and will continue dominating the market over the forecast period as well. Whereas among applications, hospital-acquired MRSA infections and human papillomavirus (HPV) are expected to show the fastest growth during the forecast period, owing to rising prevalence of these diseases over the past few years.

Among regions, the market for infectious disease diagnostics is governed by North America, followed by Europe. However, the market in Asia-Pacific is expected to grow at the highest CAGR of 9.9% during the forecast period, mainly due to the high prevalence of infectious diseases in countries such as China, India, Japan, and Australia. Apart from this, various awareness programs related to the prevention of infectious diseases are being conducted in countries such as Singapore, Australia, and Malaysia, which in turn is boosting the market in this region. Also, the market is likely to witness huge investment opportunities due to increase in healthcare expenditure. China, India, Australia, and New Zealand are expected to be the key revenue pockets of this market.

What are the factors driving and restraining the market growth?

Increased government funding for diagnoses of infectious diseases, rising cases of infectious diseases, rising demand for rapid diagnostic techniques because of the slow turnaround time of present techniques, and increased government funding are the factors responsible for the significant growth of the global market for infectious disease diagnostics. Apart from these, huge growth opportunities in developing nations, advancements in R&D for better diagnostic procedures, and growing popularity and awareness regarding personalized medicine are expected to further the fuel the market growth. However, increasing healthcare costs is limiting the usage of novel infectious diagnostic techniques, thus inhibiting the market growth. Also, complexities in regulatory framework are likely to delay the approvals of new diagnostics tests. Furthermore, lack of skilled and trained professionals and issues regarding reimbursement scenario for new diagnostic tests are the key challenges being faced by the leading market players involved in this market.

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Major companies and strategies adopted

Key players operating in the worldwide market for infectious disease diagnostics are Roche Diagnostics (Switzerland), bioMerieux (France), Bio-Rad Laboratories (U.S.), Becton and Dickinson & Co. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.). New product launches was the key strategy adopted by the market players to strengthen their position in the global market. Apart from this, agreements, partnerships, & collaborations, acquisitions, and expansions were the other strategies implemented by the companies for sustenance.

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