Worldwide Diagnostics Industry to 2030 - Increase in Prevalence of Chronic & Infectious Diseases and Availability of Point-Of-Care Testing Kits Drives Growth

DUBLIN, Jan. 3, 2023 /PRNewswire/ -- The "Global Diagnostics Market, by Type, by Test Type, by End-user, Estimation & Forecast, 2017-2030" report has been added to  ResearchAndMarkets.com's offering.

The tuberculosis diagnostics market held the market value of USD 2,984.86 Million in 2021, and is projected to grow to USD 4,480.79 Million by 2030 with a growth rate of 4.7%.

Companies Mentioned

• Alere Inc.
• F.Hoffmann-La Roche AG
• Abbott Laboratories
• Becton, Dickinson and Company
• bioMerieux SA
• Siemens
• Hologic Corporation
• Cepheid
• Hain Lifesciences GmbH
• Thermo Fisher Scientific Inc.

Moreover, the asthma diagnostics market held the market value of USD 3,385.51 Million in 2021, and is estimated to grow to USD 5,857.7 Million by 2030 with a growth rate of 6.5%. Sepsis diagnostics industry is supposed to grow substantially over the anticipated period owing to the increasing incidences of sepsis in the past few years.

According to the 2020 World Health Organization statistics, sepsis kills more than 11 Million people each year, out of which many are children. The market value of the sepsis diagnostics in 2021 amounted to USD 489.31 Million, and is projected to grow at a rate of 8.4% to USD 992.81 Million by 2030.

Furthermore, the pneumonia diagnostics market held the market value of USD 460.98 Million in 2021, and is estimated to grow to USD 828.57 Million by 2030 with a growth rate of 6.9%.

The diagnostics industry is expected to grow at an extensive rate owing to the increasing demand at the for cutting-edge medical products for effective diagnosis of patients. In addition to that, the rising preference rates and applications of medical products in management and treatment of several diseases fuels the growth rate of the market significantly.

On the other hand, the business is projected to get hindered by the stringent regulations for approval by different approving authorities.

Growth Influencers:

Increase in prevalence of chronic and infectious diseases

The increasing prevalence and incidence rate of infectious and chronic diseases influences the growth rate of the diagnostics market. According to the WHO, India has the highest tuberculosis burden, with an estimated incidence of 2.64 Million cases in 2020.

The increasing health expenditure owing to the burden of diseases has also been increasing. According to the World Bank statistics, in 2018, the healthcare expenditure as a percent of GDP was 5.35%, whereas in 2017, the rate was 5.15%. Moreover, the increasing ageing population contributes towards the rise in the growth rate of the market.

For instance, China's seventh population census indicates that China's 2020 population stood at 1.4118 Billion. in which there are 264 Million people aged 60 Thus, such steps contribute towards the growth rate.

Availability of Point-of-Care Testing Kits

One of the contributing factors for the market growth include the enhanced access to point-of-care devices through online platforms. Players operating have unveiled many top-notch products that are highly accessible, available, and convenient for the end user. The rising preference for lateral flow assays in POC is also significantly driving the market growth.

The global diagnostics market report provides insights on the below pointers:

• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global diagnostics market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
• Pricing Analysis: Pricing analysis of various components used in the manufacturing
• Manufacturing Cost Analysis: Cost-share of various components in diagnostic products, cost analysis, unit cost analysis

The global diagnostics market report answers questions such as:

• What is the market size and forecast of the global diagnostics market?
• What are the inhibiting factors and impact of COVID-19 on the global diagnostics market during the assessment period?
• Which are the types/segments/areas to invest in over the assessment period in the global diagnostics market?
• What is the competitive strategic window for opportunities in the global diagnostics market?
• What are the technology trends and regulatory frameworks in the global diagnostics market?
• What is the market share of the leading players in the global diagnostics market?
• What modes and strategic moves are considered favorable for entering the global diagnostics market?

Key Topics Covered:

Chapter 1. Research Framework

Chapter 2. Research Methodology

Chapter 3. Executive Summary: Global Diagnostics Market

Chapter 4. Global Diagnostics Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Manufacturer
4.1.3. Service Provider
4.1.4. End user
4.2. Diagnostics Industry Outlook
4.2.1. Global Epidemiology Data, by Disease
4.2.1.1. Tuberculosis
4.2.1.2. Asthma
4.2.1.3. Sepsis
4.2.1.4. Pneumonia
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
4.7.2. Pricing Analysis
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2020
4.8.3. Competitor Mapping

Chapter 5. Tuberculosis Diagnostics Market Overview

Chapter 6. Asthma Diagnostics Market Overview

Chapter 7. Sepsis Diagnostics Market Overview

Chapter 8. Pneumonia Diagnostics Market Overview

Chapter 9. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, Measurement Methods and Business Strategy Outlook)

For more information about this report visit https://www.researchandmarkets.com/r/5dmy2c

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SOURCE Research and Markets

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