Infectious diseases are caused by microorganisms such as bacteria, viruses, fungi, and parasites. Rapid diagnostic tests are now available that improve management and control of infectious disease. Many different types of laboratory tests are available that use blood, urine or other tissue from the body to identify microorganisms. According to a recent report from Markets and Markets, the infectious disease diagnostic (IDD) market is estimated to grow at a CAGR of 7.9% to reach $18,156.2 million by 2019. The report provides a detailed overview of major drivers, restraints, challenges, opportunities, current market trends and strategies impacting the global market along with estimates and forecast of revenue.
Factors that drive market growth are:
- High prevalence rate of infectious diseases
- Increased demand for rapid diagnostic techniques
- The increase in government funding
However, it is reported that rising healthcare costs and a complex regulatory framework are restraining the growth of the global IDD market.
While based on products, the market is categorized into instruments and analyzers, consumables (assays and reagents), and software & services, based on applications it is sub-segmented into Hepatitis B, Hepatitis C, Acquired Immunodeficiency Syndrome (AIDS), Tuberculosis (TB), Chlamydia Trachomatis and Gonorrhea, Human Papillomavirus (HPV), Methicillin-resistant Staphylococcus aureus (MRSA), and others.
The market is segmented into hospital laboratories, reference labs, physician’s office labs, academics and others (blood banks, local public health laboratories, home health agencies, nursing homes, point-of-care, self-testing) based on end-users. Hospital laboratories formed the major end-users of the IDD market in 2014.
North America accounted for the largest share of this market based on region and Asia-Pacific is expected to register the highest growth rate during the forecast period.
Leading manufacturers are Roche Diagnostics (Switzerland), bioMérieux SA (Craponne, France), Thermo Fischer Scientific, Inc. (U.S.), Abbott Laboratories (U.S.), Bio-Rad Laboratories (U.S.), and Becton, Dickinson & Company (U.S.). The products of these reputable manufacturers are made available to end users on a global level via established lab equipment dealers.