companies seek to develop and commercialize profitable tools for the diagnosis o
Posted by rohan on June 21st, 2019
Infectious Diseases Diagnostics Market Size is anticipated to grow at a 7.9% CAGR from 2018 to 2023, and it is estimated that the global market was valued at USD 16.82 billion in 2018 and is relied upon to achieve USD 24.6 billion by 2023. The diagnosis of infectious diseases includes several methods to verify the presence of antigens / foreign organisms through numerous diagnostic tools. Infectious diseases are widespread in developed regions due to lack of awareness of personal hygiene, low medical care costs, and lack of efficient medical services. It is expected that the increase in cases of infectious diseases in developed economies will further boost the market growth. This has led manufacturers of in vitro diagnostic medical devices to invest in emerging markets. These companies seek to develop and commercialize effective tools for the diagnosis of infectious diseases.
Market Drivers and Restraints:
Disease diagnoses are used to confirm the disease in the form of a rapid and accurate test result. The prolonged diagnosis of diseases is increasing. Epidemics of infectious diseases are spreading throughout the world, leading to an increase in the demand for diagnostic tests. Besides, the incidence of malaria, influenza, AIDS, and other diseases is increasing, creating a strong demand for infection diagnoses. With most physicians using the evidence-based treatment method, infection diagnosis kits are more likely to take effect during the prognosis period. Several state-funded programs around the world are increasingly offering free exams and exams to raise awareness, accurately diagnose diseases, and minimize the risk of infection. Such initiatives should boost the market growth in the coming years. However, diagnostic kits are expensive, and manufacturers still have an inadequate distribution channel to operate in emerging markets. These two factors are considered key challenges for the rapid growth of incomes in the global diagnostic market for infectious diseases.
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Report segmented as
By Product Type:
By End User:
Infectious Diseases Diagnostics Market geographical segmentation by North America, Europe, Asia-Pacific, and the Middle East and Africa. North America held the largest share of the IDD market, followed by Europe. Both regions are projected to witness single-digit growth rates during the coming years. Be that as it may, Asia-Pacific is expected to register the highest growth rate in the coming years, due to the high pervasiveness of infectious diseases, and massive investment opportunities due to a growth in healthcare expenditure.
Important Market Players:
The major Infectious Diseases Diagnostics Market leaders are Abbott Laboratories, bioMérieux SA, Hologic, Inc., Danaher Corporation, Becton, Dickinson and Company, Cepheid, Inc., Thermo Fisher Scientific Inc., Roche Diagnostics, Alere Inc., DiaSorin S.p.A., Quidel Corporation, and Bio-Rad Laboratories, Inc.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorrohan
Joined: September 20th, 2017
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