The global Infectious Disease In-Vitro Diagnostics Market size is expected to reach USD 76.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.9% from 2021 to 2028. This growth is owing to factors such as the increasing prevalence of infectious diseases, the outbreak of COVID-19, growing market penetration of available treatments, and increasing consumer awareness.
Diagnostics
for SARS-CoV-2 detection are being continuously launched for catering to
markets that have specific regulatory requirements. For instance, in September
2019, Roche launched its CE Marked antibody diagnostic test Elecsys
Anti-SARS-CoV-2 S. Thus, the launch of new diagnostics is expected to lead to
an increase in demand owing to their usage in the characterization of the
vaccine-induced immune response, thereby
boosting vaccine development.
Technological
advancements, such as the introduction of portable instruments like Cobas 4800
developed by Roche Diagnostics and GeneXpert by Cepheid are expected to drive
market growth over the forecast period. Furthermore, increasing use of these
systems to develop new tests that can detect infectious diseases is expected to
fuel market growth.
An
increase in the prevalence of MRSA infection, high consumer awareness, and the
presence of high unmet patient needs are some of the factors expected to drive
the market during the forecast period. Diagnosis of MRSA infection involves
rapid culture methods and molecular techniques for assessment of MRSA
colonization. The presence of a large number of diagnostic tests and the
introduction of new products, such as LightCycler, TaqMan, RotorGene, and
Stratagene, are expected to propel segment growth.
The
launch of new products is becoming a key strategy adopted by players, as new
SARS-CoV-2 diagnostics are being launched by major players such as BD,
bioMérieux SA, and F. Hoffmann-La Roche Ltd. For instance, in March 2020,
Abbott launched the RealTime SARS-CoV-2 assay, a PCR-based test for the
diagnosis of COVID-19, and BioMedomics launched a PoC COVID-19 test that can
detect antibodies in blood within 15 minutes.
Related Press
Release @ Infectious
Disease In-vitro Diagnostics Market Report
Infectious Disease In-vitro Diagnostics Market Report
Highlights
- The reagents
segment dominated the overall market majorly driven by the high usage rate
- The
molecular diagnostics technology segment accounted for the highest revenue
share in 2020. This can be attributed to the usage of PCR test for
Covid-19 diagnosis
- The central
laboratories segment accounted for a revenue share of around 60.0% in 2020
- North
America accounted for the largest revenue share in 2020, driven by a high
disease prevalence, rising consumer awareness, proactive government
measures, technological advancements, and improvements in healthcare infrastructure
- The market
is price-sensitive, creating rigorous competition among players in terms
of manufacturing cost-effective and efficient products
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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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