Prion Disease Diagnostics Market to Observe Strong Development by 2025

Posted by Pooja Gavali on April 5th, 2019

Global Prion Disease Diagnostics Market: Snapshot

The global prion disease diagnostics market will likely expand at a moderate pace in the near future on the back of technological progress in the domain of medical diagnostics and rising demand for sophisticated equipment for the diagnosis of fatal and rare ailments. At present, however, there are no medications available that could offer complete cure to patients suffering from the prion disease. With rising number of deaths caused by the malady, the demand for precise diagnostics for prion disease is expected to rise significantly in the near future.

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The global prion disease diagnostics market diagnostics is expected to be fortified by the recent progress in medical imaging and by the gigantic strides witnessed in the diagnostic industry. Despite such tailwinds, the market is witnessing lackluster growth on account of the dearth of awareness about this rare condition and the high cost of existing therapies and diagnosis technologies. 

The global prion disease diagnostics market can be segmented depending upon technology into computed tomography (CT), electroencephalography (EEG), magnetic resonance imaging (MRI), cerebrospinal fluid (CSF) examination, brain biopsy, tonsil biopsy, autopsy, neurological examinations, and blood tests. Depending upon geography again, the market can be classified into Asia Pacific, Europe, North America, and the Rest of the World. North America, of them, accounts for a dominant share in the market at present. In the foreseeable future, however, Asia Pacific will likely overtake all other regions in terms of growth due to increasing spending in the healthcare sector and emergence of different technologies to better diagnose prion disease. 

Global Prion Disease Diagnostics Market: Overview 

Prion disease also referred to as transmissible spongiform encephalopathies (TSEs) is a rare condition related to progressive neurodegeneration. Its incidence is observed in humans and animals alike. In this report TMR Research delves into identifying the opportunities for the expansion of the global prion disease diagnostics market. It includes exhaustive information providing insights into the growth drivers and restraints. Furthermore, using industry leading analytical tools, the report gauges the opportunities for the prion disease diagnostics market between 2017 and 2025. 

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Global Prion Disease Diagnostics Market: Trends and Opportunities 

TMR expects the global prion disease diagnostics market to grow at a moderate pace. Recent technological advancements in the field of medical diagnostics are considered as the chief market drivers, besides which it is also gaining traction from the increasing demand for sophisticated equipment for the diagnosis of fatal and rare ailments. Currently, the market has no medications that could offer complete cure to patients suffering from the prion disease, however governments and NGOs are leaving no stone unturned to take preventive measures against the disease. Such initiatives also demonstrate lucrative opportunities for the expansion of the global prion disease diagnostics market. 

Besides this, the recent advances in the medical imaging and exponential growth witnessed in the diagnostic industry are expected to have a positive influence on the global prion disease diagnostics market. Despite the aforementioned prospects, the market hasn’t been able to clock much growth mainly due to the lack of awareness about this rare condition and the high cost of existing therapies and diagnosis technologies. According to the Center for Disease Control and Prevention, nearly 300 deaths due to prion disease are reported every year in the U.S. and this number is likely to increase further in the coming years. As the condition more than often goes undiagnosed, in future the demand for precise diagnostics for prion disease is expected to rise significantly, says TMR Research in a new study. 

Global Prion Disease Diagnostics Market: Leading Market Segments 

The report has segmented the global prion disease diagnostics market based on various parameters for the purpose of the study. In terms of technology, for instance, computed tomography (CT), magnetic resonance imaging (MRI), electroencephalography (EEG), cerebrospinal fluid (CSF) examination, tonsil biopsy, brain biopsy, autopsy, neurological examinations, and blood tests comprise a few of the key segments. Likewise, regionally the market can be segmented into Asia Pacific, Europe, North America, and Rest of the World. Among these, North America currently holds dominance in the global market however, over the course of the forecast period Asia Pacific is expected to beat other regions in terms of CAGR on account of rising spending in the healthcare sector and advent of various technologies to precise diagnosis of prion disease. 

Global Prion Disease Diagnostics Market: Vendor Landscape 

Some of the most prominent enterprises operating in the global prion disease diagnostics market are Prion Development Laboratories, Abbott Diagnostics, Inc., Prionics AG, Bio-Rad Laboratories, Inc., Gradipore Inc., and PrioSense Ltd. Many of these enterprises have adopted prolific strategies not only to strengthen their foothold but also to accelerate research and development initiatives. 

In order to gauge the strengths and weaknesses of the companies profiled, the report conducts SWOT analysis on them. It also helps the report provide insight into the threats and opportunities that these markets are projected to witness over the course of the forecast period.