The global Neglected Tropical Diseases Diagnosis
Market size is expected to reach USD 7.6 billion by
2025, according to a new report by Grand View Research, Inc., exhibiting a 4.1%
CAGR during the forecast period. The combined effect of high impact factors
such as soaring disease burden, growing demand for early disease identification,
and complementary advancements in technology is expected to drive growth in
demand.
Rising concern regarding Neglected Tropical Diseases
(NTD) and its global impact on population as well as governments has fueled
demand for development of early disease detection methods. This growth in
concern is evident by 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. This, in turn, is anticipated to support the
growth of this market throughout the forecast period.
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Details of Report @
https://www.grandviewresearch.com/industry-analysis/neglected-tropical-diseases-diagnosis-market
https://www.grandviewresearch.com/industry-analysis/neglected-tropical-diseases-diagnosis-market
Further key findings from the report suggest:
- By disease type, dengue captured the largest share over other NTDs
in 2016. Growing dengue cases and development of novel products for its
diagnosis is expected to help this segment maintain its dominance in the
coming years
- Conventional diagnostic methods accounted for the majority share
owing to high market penetration of these techniques, including pathogen
culturing, biochemical methods, gram staining, and serology tests
- Molecular/modern diagnostic methods are growing at a lucrative pace
and are expected to supplant conventional techniques in the coming years.
This is majorly due to the advantages of molecular tests with respect to
accuracy, specificity, and timelines
- Centralized services held the largest share in 2016 owing to easy
access to these services; however, point-of-care testing (POCT) services
are anticipated exhibit lucrative growth in the coming years owing to
benefits such as portability and ease of use
- By end use, home healthcare is expected to be the fastest growing
segment as a result of growing popularity and demand for POCT services
- Asia Pacific is estimated to be the largest regional market and is
expected to maintain its position throughout the forecast period thanks to
constant growth in GDP, presence of a large target population, and high
prevalence of neglected tropical diseases in the region
- Abbott; F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific, Inc.;
and Omega Diagnostics Group PLC are some of the key players operating in
this market.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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