Smart Insulin Pen Market to Witness Widespread Expansion During 2019 – 2026
Infectious Disease Diagnosis Test Kits Market to Reap Excessive Revenues by 2024
Global market for infectious disease diagnostic test kits is expected to gain a value of US$ 876.6 Mn in 2016, up from US$ 827.7 Mn in 2015. Increasing incidences of infectious diseases worldwide will continue to drive market by 2024 end. Asia Pacific is anticipated to form the most attractive market for infectious disease diagnostics.
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Increasing rate of infectious diseases, including influenza, malaria, AIDS, and many more remains the key factor driving the demand for infectious disease diagnostics globally. In addition, growing adoption of evidence-based treatment by physicians is expected to continue bolstering sales of infectious disease diagnosis test kits. Several governments are taking efforts toward awareness about infectious diseases and reduction in infectious disease incidences. Free screening tests and treatments provided under government programs are also anticipated to play a key role in boosting the market for diagnostic test kits.
High prices will however remain a longstanding challenge to growing market revenues. Moreover, poor distribution channel of manufacturers will also hamper the availability of and demand for diagnostic kits. Global infectious disease diagnostics market will reach US$ 1.5 Bn in revenues, by 2024 end. APAC will continue to remain the largest market for infectious disease diagnostics, registering a CAGR of 7.9% over the forecast period.
Based on disease indication, sexually transmitted diseases (STDs), led by AIDS and chlamydia, will retain the largest market position. STDs segment is anticipated to reach a market value of US$ 282.4 Mn in 2016, witnessing Y-O-Y growth of 7.0%. Increasing research on new diagnostics development for early disease detection will continue to drive this segment further. Other segments, including respiratory infections, CNS infections, blood infections, and diarrheal infections will witness moderate growth over the forecast period.
On the basis of technique, cell culture technique is anticipated to dominate ELISA, PCR, and immunoassays. Cell culture segment will register a Y-O-Y of 7.2%, gaining revenues of around US$ 311.4 Mn by 2016 end. Affordable price and ample applications of cell culture technique will remain the key drivers for this segment by 2024 end.
Based on end-user, diagnostic centers are foreseen to remain the largest and fastest growing segment among hospitals, clinics, and government organizations. Increasing availability of diagnostic centers in developing nations is said to be a key driver pushing this segment further, to reach US$ 392.8 Mn in terms of 2016 revenues. By 2016 end, diagnostic centers segment will witness Y-O-Y growth of around 7.4%.
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On the basis of region, market for infectious disease diagnosis test kits will continue to gain an impetus from Asia Pacific. APAC will remain dominant, accounting for the highest revenue share, followed by MEA. Government support for infectious disease diagnostics in Asia Pacific and MEA is expected to hold a strong control in these two regions during the forecast period.
Key players in the global market for infectious disease diagnostics include Becton, Dickinson and Company, Cepheid, Inc. Abbott Laboratories, bioMérieux SA, Hologic, Inc., Danaher Corporation, Thermo Fisher Scientific Inc., Roche Diagnostics, Alere Inc., DiaSorin S.p.A., Quidel Corporation, and Bio-Rad Laboratories, Inc.
