Infectious Disease Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Infectious Disease Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The infectious disease diagnostics market was estimated to be valued at USD 38,480.89 million in 2021 and is expected to reach USD 50,345.74 million. The infectious disease diagositcs market is expected to register a CAGR of 3.79% over the forecast period (2022-2027).

The market for infectious illness diagnostics has been considerably affected by the COVID-19 epidemic. The market under study is predicted to benefit from rising infection rates among COVID-19 patients. For instance, Detect, a health technology company, introduced a new COVID-19 fast molecular test in November 2021 to satisfy testing requirements at home, at school, and in the workplace in the United States. CoviSwift, a point-of-care (POC) RT-PCR testing system by Mylab Discovery Solutions that may be used in small labs, in-hospital labs, airports, and communities, was also approved and released in February 2022. A PoC COVID-19 test that can detect antibodies in blood within 15 minutes was released by BioMedomics in March 2020, while Abbott introduced the RealTime SARS-CoV-2 assay, a PCR-based test for the diagnosis of COVID-19, in March 2020. As a result of the rising incidence of coronavirus, there will be a greater need for diagnostic tools for infectious diseases. Additionally, a number of diagnostic labs and testing facilities are opening, broadening the market's potential. For instance, India's first mobile I-Lab (Infectious disease diagnostic lab) for COVID-19 testing was introduced by the Union Minister of Health and Family Welfare in June 2020. In the near future, it is projected that such advances will increase demand for diagnostic tools for infectious diseases.

The rising prevalence of infectious diseases, the shift in emphasis from centralised laboratories to point-of-care testing, and rising R&D activity on infectious disease diagnostics are other important drivers of market expansion. Rapid diagnostics for the detection of diseases are evolving as a result of scientific research and development efforts in developing novel technologies and techniques including mass spectrometry and next-generation sequencing (NGS), which are fueling market expansion. For instance, the VITEK MS PRIME mass spectrometry system by bioMérieux, a global leader in in vitro diagnostics, the next generation of the VITEK MS MALDI-TOF1 mass spectrometry system for routine pathogen detection in minutes, was given the CE-marking in April 2021. The increasing preference of end users for point-of-care testing is also projected to fuel market expansion. Point-of-care diagnostics offer quick, useful information for patient care right where the disease is being experienced. As a result, a number of significant firms are concentrating on research and development initiatives to create point-of-care diagnostic solutions for developing nations. The major firms are constantly updating their product lines through the introduction of new goods, joint ventures with third parties, mergers, and acquisitions, all of which will contribute to the worldwide study market's expansion. For instance, QuantuMDx introduced the Q-POC fast polymerase chain reaction point-of-care diagnostic device for COVID-19 in July 2021. In December 2021, Roche launched the first infectious disease tests on the Cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark. Similarly, in May 2021, Torus Biosystems revealed the USD 25 million series A financing to advance infectious disease diagnostics across healthcare settings. Thus, the abovementioned factors are expected to increase market growth in the upcoming future.

However, inadequate reimbursements and rising healthcare costs limiting the use of novel diagnostic techniques are the factors restraining the growth of the market.

Key Market TrendsThe Human Immunodeficiency Virus (HIV) Segment is Expected to Garner a Large Share of the Market

Based on application, the human immunodeficiency virus segment is anticipated to witness significant growth. The Minority of HIV/AIDS Fund (MHAF), United States Department of Health and Human Services Statistics, updated in June 2021, estimates that there were approximately 37.6 million people living with HIV worldwide in 2020, of whom 35.9 million were adults and 1.7 million were children (under the age of 15). According to the same source, 1.5 million people will have contracted HIV globally in 2020. The market is expanding as a result of the rising prevalence of HIV and the resulting demand for tests for diagnosis and detection. The rising need for diagnostic tests is a result of the high prevalence of viral illnesses. Additionally, the Human Rights Campaign (HRC) Foundation and "Us Helping Us" started the nation's first in-home HIV testing programme in August 2021. Additionally, in honour of National HIV Testing Day in June 2020, the DC Department of Health (District of Columbia Health) announced a new chance for DC residents to receive free at-home HIV test kits. Thus, it is anticipated that the increased frequency of this terrible disease would increase demand for early diagnostic testing, which will support market growth. Additionally, it is anticipated that new research and developments, technological advancements, and the introduction of technologically enhanced goods by key competitors would accelerate the market's expansion. One such in-vitro diagnostic test that identifies and quantifies the human immunodeficiency virus (HIV) specific RNA in human plasma was introduced by Altona Diagnostics in April 2021. It is based on real-time RT-PCR technology. The test was known as the 1.5 AltoStar HIV RT-PCR Kit.

North America is Anticipated to Observe Significant Market Growth

North America, is expected to hold a major share of the market. The major factors contributing to the market growth are the increasing prevalence of infectious diseases, high expenditure on healthcare, and an increase in awareness among the population regarding the availability of treatment devices. For instance, according to data published in 2022 from MedAlertHelp, 5–20 percent of Americans have influenza each year. Additionally, according to information released by the Centers for Disease Control and Prevention, the 2019–2020 flu season resulted in an overall total of 35 million illnesses, 380,000 hospitalizations, 20,000 fatalities, and 16 million medical visits. In the upcoming years, market growth is predicted to be positively impacted by the rising burden of diseases. In addition, the FDA registered Dipanjan Pan's laboratory at the University of Maryland School of Medicine (UMSOM) as an approved laboratory development site for RNA Disease Diagnostics Inc.'s Antisense COVID-19 molecular diagnostic test in June 2021. RNA Disease Diagnostics Inc. is a company developing a best-in-class molecular diagnostics platform for infectious disease detection. The market is therefore anticipated to have significant expansion in the region over the course of the projected period in light of the aforementioned considerations. Additionally, the market expansion in the nation will be accelerated by strategic activities including collaborations, acquisitions, grant programmes, and others. For instance, Omega Specialty Nurses (OSN), House of Sophrosyne, and the Viral Hepatitis Care Network in Ontario have received grants from the 2021 CONNECT-C Grant Program from Gilead Sciences Canada, Inc. to expand the number of hepatitis screening centres across the nation. This will improve the disease's diagnostic products' adaptability, driving the market. The market will also be driven by expanding investments for improving disease model analysis. To develop linkages between the academic community, business community, and the governmental sector, for instance, the government of Canada formed five multidisciplinary infectious disease modelling networks in April 2021 with a total expenditure of USD 10 million. The findings will enable Canada better respond to potential threats to public health, which will spur the industry to expand. The coordination of infectious disease modelling will also be considerably improved. Thus, the abovementioned factors are expected to increase the market growth.

Competitive Landscape

The infectious disease diagnostics market is highly fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the market are Danaher Corporation, Veracyte Inc., Abbott Laboratories, BioMérieux SA, F. Hoffmann-La Roche Ltd, and Becton, Dickinson and Company.

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