Infectious Disease Diagnostic Market Size Estimated to be Worth USD 42.39 Billion By 2032, at Projected CAGR of 7.8%: Polaris Market Research

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Jan 22, 2024, 10:30 ET

NEW YORK, Jan. 22, 2024 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled 'Infectious Disease Diagnostic Market Share, Size, Trends, Industry Analysis Report, By Product; By Type of Testing (Laboratory Testing, PoC Testing); By Technology; By Disease Type; By End User; By Region; Segment Forecast, 2024 - 2032' published by Polaris Market Research in its research repository.

The global infectious disease diagnostic market size and share is predicted to grow from USD 21.67 billion in 2023 to USD 42.39 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 7.8% from 2023 to 2032, according to the latest report by Polaris Market Research.

A Quick Review

What is Infectious Disease Diagnostic? How Big is Infectious Disease Diagnostic Size & Share?

Infectious diseases are illnesses generated by organisms such as viruses, bacteria, parasites, or fungi. Several organisms reside in and on the human body. They are usually benign or even of assistance. However, under specific situations, some organisms may engender disease. Quite a few infectious diseases can be transferred from person to person. Some are communicated by insects or other animals and one may get infected by polluted food or water or being subjected to organisms in the ecosystem. The rapidly rising demand for infectious disease diagnostic market can be attributed to indications and traits differing depending on the organism bringing about the infection but frequently involving fatigue and fever. Superficial infections may react to rest and home medications, while some lethal infections may require hospitalization.

The infectious disease diagnostic market growth can be attributed to the growing existence of infectious illnesses, progression in technology, and escalating consciousness about premature diagnosis and cure. The growing cases of infectious illnesses such as influenza, HIV, and hepatitis are the prominent propellers of market growth. Further, the surfacing of contemporary illnesses and the menace of the pandemic has escalated the demand for speedy and precise diagnostic tests. Additionally, technological progression in molecular diagnostics, such as PCR-dependent assays, progenies sequencing, and detection testing, have enhanced the preciseness and acceleration of diagnostic tests, rendering them more reachable and reasonable.

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2032 Updated Report Introduction, Overview, and In-depth industry analysis.
115+ Pages Research Report (Inclusion of Updated Research).
Provide Chapter-wise guidance on Request.
2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
Includes Updated List of table & figures.
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Which are the Largest Infectious Disease Diagnostic Players in the World?

Abbott
Becton Dickinson
bioMérieux
Bio-Rad Laboratories
Cepheid
Danaher
F. Hoffmann-La Roche Ltd
Hologic Inc.
Luminex Corporation
Qiagen Inc.
Thermo Fisher Scientific Inc.

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Important Highlights from the Report

Indications and traits differ depending on the organism bringing about the infection but frequently involve fatigue and fever, which is causing the market to expand.
The growing cases of infectious illnesses such as influenza, HIV, and hepatitis are the prominent propellers of the market growth.
The infectious disease diagnostic market segmentation is primarily based on product, type of testing, technology, disease type, end user, and region.
North America has dominated the market with the largest share in 2023

Market's Prime Determinants of Growth, Trends, and Opportunities

Growing prevalence of infectious diseases: The growing prevalence of infectious illnesses has surfaced as a notable propeller for the growth of the market. The infectious disease diagnostic market size is expanding as infectious illnesses such as influenza, COVID-19, hepatitis, and others endure display a prominent ultimatum to public health worldwide. The speedy proliferation of these diseases underscores the requirement for precise and accurate diagnosis that can help circumvent additional transference and mitigate the probabilities of outbreak. Therefore, there is an escalated demand for productive diagnostic apparatus and methodologies that can locate and can observe infectious illnesses promptly and precisely. This proliferating demand generates elbow room for firms functioning in the market to advance inventive clarification such as immunodiagnostics, DNA sequencing, polymerase chain reaction, and other progressive techniques.

Growing funding for infectious illness regulations: The infectious disease diagnostic market sales are soaring as the government capabilities and financing for infectious illness regulation, and prohibition initiatives have caused the development of the market. For instance, the US government has confirmed the Centre for Disease Control and Prevention (CDC) that offers financing and reinforcement for infectious disease research, supervision and prohibition ventures. Also, for instance, dependent on contemporary statistical data announced by the National Center for Biotechnology Information, the worldwide termination total is roughly 60 million, with approximately 25% of these mortalities being credited to infectious illnesses.

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Trends and Opportunities

Surfacing economies providing space for prominent players: Surfacing economies such as Brazil, India, Russia, Turkey, and South Africa are anticipated to provide probable growth elbow room for prominent players functioning in the market. This can be credited to escalated disease existence, extensive patient public, enhanced healthcare framework, escalated cash flow, and proliferating medical tourism. The Asia Pacific region has surfaced as a versatile and business-friendly nucleus because of comparatively less strict control and data needs.

Segmental Analysis

The reagents, Kits, and Consumables Segment Observed a Steep Rise.

Based on product, reagents, kits, and consumables, the segment observed a steep rise. The infectious disease diagnostic market demand is on the rise as this can be attributed to the escalating existence of infectious illnesses, which has engendered an upswing in demand for diagnostic tests, which subsequently has pushed the sales of reagents, kits, and consumables. Also, progression in molecular diagnostics has caused the advancement of contemporary and inventive assays that need specific reagents and consumables, additionally causing the advancement of this segment. The recurrent usage of these commodities in several diagnostic tests and approaches has sanctioned an anchored demand for them, rendering them an important constituent of the market.

The Laboratory Testing Segment Dominated the Market

Based on the type of testing, the laboratory testing segment dominated the market. The infectious disease diagnostic market trends include locating and observing several infectious illnesses. Laboratory tests are crucial for detecting and handling infectious illnesses as they offer precise and dependable outcomes that sanction healthcare workers to assemble valid decisions in context to the treatment and patient care. The growing existence of infectious illnesses has caused an escalated demand for laboratory testing, pushing the growth of the market segment.

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Regional Insights

North America: This region held the largest infectious disease diagnostic market share due to the existence of an ingrained healthcare framework and progressive medical amenities in nations such as the US and Canada. Additionally, the growing existence of infectious illnesses such as influenza, COVID-19, and others in the region has generated an escalated demand for productive diagnosis and cure alternatives. Also, the region is the abode of several significant players in the industry, including Abbott Laboratories, Roche Diagnostics, and Thermo Fisher Scientific, among others. These firms have been funding massively in research and development, causing the initiation of inventive diagnostic progression and commodities that provide for the requirements of patients and clinicians.

Asia Pacific: This region is experiencing a sizeable growth due to the escalated existence of infectious illnesses in the region, particularly in nations such as India, Indonesia, and China. The escalating cases of dengue fever, malaria, and hepatitis in these nations have caused an escalating demand for productive diagnostic instruments and methodologies. Further, the growing consciousness about the significance of premature diagnosis and cure of infectious illnesses among healthcare workers and patients is also resulting in the development of the market.

Browse the Detail Report "Infectious Disease Diagnostic Market Share, Size, Trends, Industry Analysis Report, By Product; By Type of Testing (Laboratory Testing, PoC Testing); By Technology; By Disease Type; By End User; By Region; Segment Forecast, 2024 – 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/infectious-disease-diagnostic-market

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Key Questions Answered in the Report

What is the current and expected infectious disease diagnostic market value?

Ans: The current market value is USD 23.29 billion, and the expected market value is USD 42.39 billion.

At what CAGR is the market expected to grow during the forecast period?

Ans: The CAGR at which the market is expected to grow is 7.8%.

Which factors are driving the market growth?

Ans: Factors such as the growing prevalence of infectious illnesses and growing funding for infectious illnesses regulation are driving the market growth.

Which segment accounts for the largest infectious disease diagnostic market share?

Ans: The reagents, kits, and consumables segment accounted for the largest market share.

Polaris Market Research has segmented the infectious disease diagnostic market report based on product, type of testing, technology, disease type, end user, and region:

Infectious Disease Diagnostic, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Reagents, Kits, and Consumables
Instruments
Software and Services

Infectious Disease Diagnostic, Type of Testing Outlook (Revenue - USD Billion, 2019 - 2032)

Laboratory Testing
PoC Testing

Infectious Disease Diagnostic, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

Clinical Microbiology
DNA Microarray
DNA sequencing and Next-generation sequencing
Immunodiagnostics
Isothermal Nucleic Acid Amplification Technology
Polymerase Chain Reaction
Others

Infectious Disease Diagnostic, Disease Type Outlook (Revenue - USD Billion, 2019 - 2032)

COVID-19
Hepatitis
HIV
Hospital-acquired Infections
HPV
Influenza
Mosquito-borne diseases
Syphilis
Others

Infectious Disease Diagnostic, End User Outlook (Revenue - USD Billion, 2019 - 2032)

Academic Research Institutes
Diagnostics Laboratories
Hospitals and Clinics
Others

Infectious Disease Diagnostic, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
Latin America
- Argentina
- Brazil
- Mexico
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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