Infectious Disease Diagnostics Market worth $19.35 billion by 2022, at a CAGR of 5.6%

(IT-NEWSWIRE.COM, April 28, 2020 ) Growth in the infectious diseases Diagnostics market is primarily driven by the increasing global prevalence of infectious diseases, shift in focus from centralized laboratories to decentralized point-of-care testing, and growth in funding for research on infectious disease diagnostics.

Infectious Disease Diagnostics Market by Product & Service (Assay, Kit & Reagent, Instruments), Disease Type (Hepatitis, HIV, HAI, HPV, TB, Influenza), Technology (Immunodiagnostics, PCR, NGS), End User (Hospital, Research Institute) - Global Forecast to 2022

The global infectious disease diagnostics market was valued at USD 13.93 Billion in 2016 and projected to reach USD 19.35 Billion in 2022, at a CAGR of 5.6%.

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The Infectious Disease Diagnostics Market is Segmented on:

1. Product & Service
2. Disease Type
3. Technology
4. End User

By product and service, assays, kits and reagents segment to record the highest CAGR during the forecast period

Increased accessibility and the increasing number of IDD tests conducted are the key drivers for this segment. Globally, the volume of IDD tests is increasing mainly due to the rising geriatric population; increasing prevalence of infectious diseases; increased variety of reagents available and analytical techniques employed; and the continuous launch of newer, faster, and more reliable products.

Roche, Bio-Rad, and bioMérieux are some of the major players in the infectious disease diagnostics market for assays, kits, & reagents.

By technology, DNA sequencing & next-generation sequencing (NGS) segment to record the highest CAGR during the forecast period

Factors such as advancements in sequencing technologies, increasing awareness and acceptance of personalized medicine (in which this technology has significant applications), and increasing application of molecular diagnostic technologies in pharmacogenetics and point-of-care testing are expected to boost the growth of this technology in the future.

Regional Analysis:

North America accounted for the largest share of the global infectious disease diagnostics market. The large share of this region is mainly attributed to the presence of a highly developed healthcare system, increasing prevalence of infectious diseases, the presence of a large number of leading national clinical laboratories, and easy accessibility to technologically advanced instruments in the region.

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By end user, Hospital/clinical laboratories segment to record the highest CAGR during the forecast period

Hospitals/clinical laboratories primarily serve to conduct tests on samples collected from inpatient and outpatient population. These laboratories perform IDD tests in order to identify or diagnose diseases and determine relevant treatments. Most of these laboratories are equipped with fully automated diagnostic instruments such as NGS, PCR and mass spectrometry for providing better medical diagnostic results to patients.

Key Players:

Abbott Laboratories, Becton, Dickinson and Company, Biomérieux SA, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Luminex, Meridian Bioscience, Quidel, Roche Diagnostics, Siemens AG, Thermo Fisher Scientific

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Infectious Disease Diagnostics Market worth $19.35 billion by 2022, at a CAGR of 5.6%