Infectious diseases are one of the leading causes of morbidity and mortality across the globe. Diagnostics is the primary step for the disease discovery and treatment leading to eradication of infectious diseases. Owing to ever-evolving pathogens and emerging new diseases, there is dire need to identify suitable diagnostics technique that can help physicians to decide appropriate treatment. This can also help to control the outbreak of the disease in the population. Technological advancement has rapidly changed the landscape of infectious disease diagnostics. Scientific research and development activities in novel technologies and technique such as mass spectrometry and next-generation sequencing (NGS) are changing the way how rapid diagnostics are being performed to detect diseases. In addition, growing inclination of end-user towards point-of-care testing is also anticipated to drive the industry growth. The point-of-care diagnostics provide rapid actionable information for patients care at the real-time and site of an encounter with the healthcare system. Additionally, various major players are focused on research and development activities to develop point-of-care diagnostics solution for developing countries.
Key Market Trends
Viral Infection diagnostics are expected to cover a large share of the market
A viral infection is one of the major public health concerns around the world. As per a report by Meryem Jefferies et al. published in the World Journal of Clinical Cases 2018, every year 1.4 million people die from viral hepatitis-related cirrhosis and liver cancer. Furthermore, according to the World Health Organization, 37.9 million people were living with HIV/AIDS worldwide in 2018. Moreover, an estimated 32 million people have died of HIV.
Thus, owing to the high prevalence of these dreadful illnesses, the demand for early diagnostic tests is expected to increase as early diagnosis may reduce the spread of the disease. Hence, this market is expected to increase in the future.
North America is expected to Hold Largest Market Share
According to Charbel el Bcheraoui et al. published in the Journal of the American Medical Association 2018, between 1980 and 2014, there were more than 4 million deaths due to infectious diseases recorded in the United States. In 2014, a total of more than 110,000 deaths (a rate of 34.10 deaths per 100 000 persons) were due to infectious diseases in the United States.
As United States is developed economy, it has a well-structured healthcare system. This has helped the country with better access to the diagnostic tests that are available in the market. Diagnostic tests help early diagnostic of disease which can help the spread of these infectious diseases. As a result, this can noticed in the decreasing rate of infectious diseases over the years. However, the rate still remains high, which is expected to help the growth of this market
Majority of the Infectious disease diagnostics are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market growth.
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