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NEW YORK, May 22, 2019 (GLOBE NEWSWIRE) -- The global infectious disease diagnostics market is expected to grow significantly from USD 18.70 Billion in 2018 to USD 26.50 Billion in 2025, at a CAGR of 5.1% from 2019 to 2025. The growth in the market is attributed to the growing inclination towards point-of-care testing and growing prevalence of infectious diseases across the globe. Moreover, technological advancements in infectious disease diagnostics and growing demand in emerging countries are further propelling the industry growth. However, rising healthcare costs and stringent government regulation may hamper the industry growth to some extent.
Infectious diseases are a disorder caused by a microorganism (viruses, parasite, bacteria, and fungi among others). They may be transmitted directly or indirectly one person to another person. Moreover, infectious diseases are leading cause of death across the globe, particularly in low income countries, especially in adults.
Key findings from the report:
Infectious Disease Diagnostics: Market Insight
Infectious diseases are the leading cause of morbidity and mortality across the globe. Diagnostics is the first step for the treatment and eradication of infectious diseases. Owing to ever-evolving pathogens and emerging new diseases, there is an urgent need to identify suitable diagnostics technique for better treatment of each disease. Moreover, effective diagnostic techniques are important for the identification of the diseases and better treatments as well as control of outbreak in the population. Furthermore, technological advancement has rapidly changed the landscape of infectious disease diagnostics. Scientific research and development activities in novel technologies and technique such as mass spectrometry and next-generation sequencing (NGS) are changing the way that performs rapid diagnostics and detect antimicrobial resistance. In addition, growing inclination of end-user towards point-of-care testing is also anticipated to drive the industry growth. The point-of-care diagnostics provide rapid actionable information for patients care at the real-time and site of an encounter with the healthcare system. Additionally, various major players are focused on research and development activities to develop point-of-care diagnostics solution for developing countries.
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Infectious Disease Diagnostics Market – Regional insight
Geographically, the global infectious diseases diagnostics market is segmented into North America, Europe, Asia-Pacific, Central & South America, and Middle East and Africa. North America held the largest share of the market in 2018. The growth in the region is attributed to the introduction of technologically advanced products and increasing investment by major key players.
The U.S. held the major market share in North America
Government and non-governmental organization in the United States which are focused on diagnostics development for infectious diseases established a list of top diagnostic development priorities or requirements. Moreover, growing focuses and development in point-of-care testing and laboratory-based diagnostics tests for infectious diseases further propelling the industry growth in the United States.
Asia-Pacific is likely to offer significant growth opportunities during 2019-2025
Infectious diseases are increasing concern in Asia-Pacific region due to various environmental factors, high population density, and poor awareness education. Moreover, according to the World health Organization estimates, infectious diseases are responsible for more than half of child mortality in Asia-Pacific region. Furthermore, innovative technologies and growing research and development activities by major key players further propelling the market growth in the region.
This report segments global infectious disease diagnostics market based on product and service, application, technology, end-user and region.
By Product and Service
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