Increase in prevalence of infection disease, rise in demand for point-of-care diagnostic testing, and surge in number of medical laboratories drive the growth of the global infectious disease diagnostic market. However, the outbreak of the COVID-19 pandemic have had a positive impact the global infectious disease diagnostic market, owing to the increased need for the development of diagnostic instruments and diagnostic service centers.
Portland, OR, Oct. 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Infectious Disease Diagnostic Market generated $23.3 billion in 2020, and is projected to reach $39.9 billion by 2030, witnessing a CAGR of 6.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Increase in prevalence of infection disease, rise in demand for point-of-care diagnostic testing, surge in number of medical laboratories, and growth in awareness among individuals regarding early diagnosis detection drive the growth of the global infectious disease diagnostic market. However, high cost of diagnostic instruments and lack of skilled professional & trained personnel restrain the market to some extent. On the other hand, increase in development of advanced diagnostic devices by major key players presents new opportunities in the upcoming years.
The outbreak of the COVID-19 pandemic has had a positive impact the global infectious disease diagnostic market, owing to the increased need for the development of diagnostic instruments and diagnostic service centers.
Rise in number of COVID-19 cases surged the demand for real time polymerase chain reactions, thus boosting the growth of the global infectious disease diagnostic market.
For instance, in March 2020, Abbott, a global healthcare company, announced the launch of Abbott ID NOW COVID-19 test, which is a molecular point-of-care test used to detect COVID-19 in as little as 5 minutes.
The report offers detailed segmentation of the global infectious disease diagnostic market based on product, disease type, technology, and region.
Based on product, the assays and reagents segment held the highest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the instruments segment is estimated to register the highest CAGR of 8.1% from 2021 to 2030.
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Based on disease type, the hepatitis segment held the largest market share in 2020, holding nearly one-fourth of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 9.0% from 2021 to 2030, while influenza registered the CAGR of 7.6% from 2021 to 2030.
Based on region, the global antipsychotic drugs market across North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 8.5% during the forecast period.
Leading players of the global infectious disease diagnostic market analyzed in the research include Abbott Laboratories, Becton Dickinson and Company, BioMerieus SA, Bio-Rad Laboratories, Danaher Corporation, F Hoffman-La Roche, Hologic Inc., Luminex Corporation, Qiagen Inc., and Thermo Fisher Scientific Inc.
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