Infectious Disease Diagnostics Market Is Expected to Reach $18,156.2 Million by 2019 - New Report by MarketsandMarkets
(PRWEB) January 12, 2015 -- The Infectious Disease Diagnostics Market 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.
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The IDD market is poised to reach $18,156.2 million by 2019 from $12,422.8 million in 2014, at a CAGR of 7.9% from 2014 to 2019.
Factors such as high prevalence rate of infectious diseases, increased demand for rapid diagnostic techniques due to slow turnaround time of current techniques and the increase in government funding are driving market growth. However, rising healthcare costs and a complex regulatory framework are restraining the growth of the global IDD market.
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On the basis of products, the IDD market is segmented into instruments and analysers, consumables (assays and reagents) and software & services. Consumables accounted for the largest share up to 70% of the global IDD market—in 2014.
On the basis of applications, the IDD market 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.
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On the basis of technology, the segment is divided into traditional and molecular diagnostics. Traditional methods are categorized into immunodiagnostics, microscopy, and biochemical characterization. The molecular diagnostics segment is further divided into Polymerase Chain Reaction (PCR), INAAT (Isothermal Nucleic Acid Amplification Test), Hybridization, DNA Sequencing & NGS, micro-arrays and others (electrophoresis, mass spectrometry, and flow cytometry). Microarrays and INAAT are expected to be the fastest-growing markets in the forecast period. This remarkable growth is attributed to the specificity and increased efficiency of these tests.
On the basis of end-users, 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). Hospital laboratories formed the major end-users of the IDD market in 2014.
On the basis of region, the IDD market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2014, North America accounted for the largest share of the IDD market, followed by Europe. Both markets are estimated to register single-digit growth rates over the next five years. However, Asia-Pacific is expected to register the highest growth rate during the forecast period, owing to the high prevalence of infectious diseases, and huge investment opportunities due to increase in healthcare expenditure. The growth of the IDD market in Asia-Pacific will revolve around China, India, Australia, and New Zealand. Countries in the Middle East will also show growth.
Major players in this market 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.).
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