Tue. Dec 7th, 2021

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.

Browse 132 Figures spread through 110 Pages and an in-depth TOC on “Global Infectious Disease Testing Market”

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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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