Rising awareness about in vitro diagnostic techniques and growing R&D investments and initiatives is driving product demand and use, and in turn driving market growth.
Market Size – USD 16.22 Billion in 2019, Market Growth - CAGR of
6.3%, Market Trends – Growing health awareness.
The global Infectious Diseases
In-Vitro Diagnostics Market is expected to reach a market
size of USD 26.54 Billion by 2027, and register a high CAGR during the forecast
period, according to a new report by Reports and Data. Consistent and high
investments in research and development, and rising awareness is among some of
the key factors driving market growth. Rising prevalence of chronic diseases
and ailments, along with increasing geriatric population, are propelling
revenue growth of the infectious diseases in-vitro diagnostics market
currently, and this trend is expected to continue over the forecast period.
Increase in number of surgical procedures being performed globally is also projected to boost market growth. Growing prevalence of infectious diseases such as Respiratory Virus, TB and Drug-resistant TB, HIV, Hepatitis C, and Hepatitis B is creating a rising need for more effective treatment or therapy, which is positively contributing to market growth. Additionally, governmental bodies such as CEA, CDC, and FDA have listed guidelines and safety measures that are expected to continue to support growth of the market.
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The COVID-19
impact:
The outbreak of the COVID-19 virus has resulted in a major
demand for diagnostic kits. Market growth has increased significantly in recent
months due to a rapid surge in demand for diagnostic kits in COVID-19 detection
tests. The high demand is mainly due to the emergency launch of testing kits
along with ongoing developments. According to The Rockefeller Foundation,
around 70 million POC (Point of Care) tests a month were conducted in the
United States by the end of October 2020. The number is expected to increase to
approximately 200 million a month by January 2021.
Further key findings
from the report suggest
·
An increase in the number of research and development
initiatives related to the target market and surge in demand for point of care
and self-test is expected to fuel revenue growth of the reagents segment,
thereby driving growth of the global infectious diseases in vitro diagnostics
market.
·
Increase in HAIs (hospital-acquired infections) is driving
demand for in vitro diagnostic (IVD) kits in infectious diseases. Moreover,
increasing STDs (sexually transmitted diseases) will also create a growing need
for molecular diagnostic IVD tools.
·
The point of care (POC) segment revenue is forecast to register
a higher rate due to increasing initiatives to reduce stay in hospital to limit
overall expenses.
·
North America accounted for the largest revenue share in the
infectious diseases in-vitro diagnostics market in 2019. Robust presence of
advanced research and testing infrastructures in countries in the region is
another factor supporting market growth.
·
Key participants include Abbott, Quidel Corporation, bioMérieux
SA, Alere Inc., F. Hoffmann-La Roche Ltd., Cepheid, Orasure Technologies, Inc.,
Qiagen N.V., Becton, Dickinson and Company, and Bio-Rad Laboratories, Inc.,
among others.
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For the purpose of this report,
Reports and Data has segmented the global infectious diseases in-vitro
diagnostics market on the basis of product, technology, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
·
Instruments
·
Reagents
·
Software
Technology Outlook (Revenue, USD Billion; 2017-2027)
·
Molecular Diagnostics
·
Immunochemistry
·
Microbiology
·
Others
End-Use Outlook (Revenue, USD Billion; 2017-2027)
·
Point of Care
·
Central Laboratories
Regional Outlook (Revenue, USD Billion; 2017-2027)
·
North America
o U.S
o Canada
·
Europe
o Germany
o U.K
o France
o BENELUX
o Rest of Europe
·
Asia Pacific
o China
o Japan
o South Korea
o Rest of APAC
·
MEA
o Saudi Arabia
o UAE
o Rest of MEA
·
Latin America
o Brazil
o Rest of LATAM
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Key Highlights of the Report:
- In-depth examination of the latest market trends,
including drivers, opportunities, threats, constraints, challenges, and
future growth prospects
·
Regional and country-wise
market size estimation for the forecast period
- Key pricing strategies of the regional market players
- Demand & supply gap analysis
- Competitive landscape analysis
- Brief summary of the key strategies, financial
positions, and recent developments of the leading companies
- Company profiling of the leading market players
- Precise assessment of the revenue shares of the top
market players
- Strategic recommendations for new market entrants
Table of Content:
Chapter 1. Market Synopsis
1.1. Market
Definition
1.2. Research Scope
& Premise
1.3. Methodology
1.4. Market
Estimation Technique
Chapter 2. Executive Summary
2.1. Summary
Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Infectious Diseases In Vitro
Diagnostics Market Segmentation & Impact Analysis
4.1. Infectious
Diseases In Vitro Diagnostics Market Material Segmentation Analysis
4.2. Industrial
Outlook
4.2.1.
Market indicators analysis
4.2.2. Market
drivers analysis
4.2.2.1. Growing geriatric population
4.2.2.2. Increasing prevalence of infectious diseases
4.2.2.3. High demand for point of care facilities
4.2.3.
Market restraints analysis
4.2.3.1. Ambiguous regulatory framework
4.3. Technological
Insights
4.4. Regulatory
Framework
4.5. ETOP Analysis
4.6. Porter’s Five
Forces Analysis
4.7. Competitive
Metric Space Analysis
4.8. Price trend
Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact
Analysis
4.11. Global
Recession Influence
Chapter 5. Infectious Diseases In Vitro
Diagnostics Market By Product Insights & Trends
Continued….
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