Neglected Tropical Diseases Diagnosis Market To Hit Value .97 Billion By 2030 |Grand View Research, Inc.

Posted by Mrudula Anil Karmarkar on June 26th, 2023

San Francisco, 26 June 2023: The ReportNeglected Tropical Diseases Diagnosis Market Size, Share & Trends Analysis Report By Disease (Dengue, Chikungunya), By Diagnostic Method (Conventional, Molecular/Modern), By Service Type, By End Use, And Segment Forecasts, 2023 - 2030

The global neglected tropical diseases diagnosis market size is expected to reach USD 8.97 billion by 2030, expanding at a CAGR of 4.5% during the forecast period, according to a new report by Grand View Research, Inc. Increasing disease burden, growing demand for early disease identification, and complementary advancements in technology is expected to drive growth in demand.

Increasing concern regarding neglected tropical diseases and their impact on the population as well as economies has boosted the demand for the development of early disease detection methods. This growth in concern is evident in the launch of a substantial number of programs aiming to combat NTDs. For instance, the Global Network for Neglected Tropical Diseases aims to raise awareness and funding, both of which are essential to control and eliminate the most common NTDs. In addition, various companies are undertaking efforts to develop less complicated and inexpensive diagnostic assays for tropical diseases. In January 2021, Novartis AG signed an agreement with the WHO to manage leprosy across the globe. This, in turn, is anticipated to support the growth of this market throughout the forecast period.

According to the WHO, as of January 2022, more than 1.5 billion people are infected with soil-transmitted helminth infections worldwide. The Kato-Katz technique is the WHO gold standard that is widely used to diagnose the intensity of STHs. These infections are distributed widely in tropical and subtropical areas majorly occurring in America, sub-Saharan Africa, East Asia, and China. Furthermore, the presence of key players is expected to fuel the overall market growth. The involvement of these players in new product development is considered to be the contributing factor to the development of the NTD diagnosis market.

Growing awareness of neglected tropical diseases (NTDs) and increasing number of initiatives undertaken by the government are anticipated to fuel the market growth. For instance, inclusion of NTDs in the Sustainable Development Goals (SDG), a United Nations Development Program, as a global target is anticipated to fuel market growth. Furthermore, various initiatives being undertaken by WHO, such as road map 2030 for the elimination of NTDs, are expected to drive market growth during the forecast period.

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Neglected Tropical Disease Diagnosis Market Report Highlights

• By disease type, the soil-transmitted helminthiases dominated the market in 2022, owing to the increasing prevalence and high adoption of diagnostics tests
• The molecular/modern diagnostic segment dominated the market in 2022, owing to an increase in R&D for molecular diagnostic techniques coupled with a rise in demand for point-of-care products
• Centralized service accounted for the largest segment in terms of market share in 2022 due to high procedure volume and the wide presence of ancillary support in terms of infrastructure and manpower
• By end-use, home healthcare is expected to be the fastest-growing segment as a result of the growing popularity and demand for POCT services
• Asia Pacific dominated the global market in 2022, owing to the high disease burden of NTDs, increased healthcare expenditure, rapid technological advancements, and a rise in customer awareness about the use of PCR tests in diagnosing NTDs
• Latin America is expected to grow considerably in the future, owing to increased IVD product penetration and the high disease burden of NTDs in developing countries

In the wake of the COVID-19 pandemic, the neglected tropical disease (NTD) diagnosis witnessed a significant decline. WHO launched the Global Program to Eliminate Lymphatic Filariasis (GPELF) in 2000, which aims to stop the spread of infection and relieve the pain of those who have already been afflicted. However, according to the pulse survey conducted by WHO, as of early 2021, the neglected tropical disease program has faced disruptions in 44% of countries. Moreover, the high risk of transmission of SARS-CoV-2 infection has affected the public health approaches for NTDs. In countries with low health budgets, funds being shifted to tackle other diseases, and a shortage of funding from international partners and the foreign government has significantly impacted the growth of the market.

Neglected Tropical Diseases Diagnosis Market Report Scope

List Of Key Players Of Neglected Tropical Diseases Diagnosis Market

• F. Hoffmann-La Roche Ltd
• Abbott
• Thermo Fisher Scientific Inc.
• ZeptoMetrix
• InBios International, Inc.
• Genome Diagnostics Pvt. Ltd.
• Omega Diagnostics Group PLC
• Coris BioConcept
• DiaSys Diagnostic Systems GmbH
• Oscar Medicare Pvt Ltd.

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