Based on a report added to Radiant Insights, Inc.; the global infectious disease diagnostic testing market is projected to grow at a healthy CAGR during the forecast period (2018 to 2025). Growing number of viral infections attributed to frequently changing climatic conditions across the globe is anticipated to drive the global market. Infectious diseases are caused by microorganisms such as bacteria, fungi, viruses, and parasites. These diseases can get transmitted from one individual to another through direct or indirect contact. So, it gets essential to get such infections diagnosed well in time to figure out the best medicine or therapy as treatment. This factor is expected to play crucial role in the overall growth of the global market.
To cater to the rising demand for accurate and timely diagnosis of infectious diseases, pharma giants are investing in research and development (R&D) to develop advanced tests and testing equipment. For instance, a team of researchers at the Washington State University is developing low cost, portable laboratory on smartphone that can work like any other clinical labs. Users can use this laboratory to diagnose common viral and bacterial infections. In addition, it can offer fast and low cost lab results to support users living in rural and low resource regions. While testing this device at the hospital of the University of Pennsylvania, researchers found that the lab can be around 97% to 99.9% accurate.
Growing cases of chronic diseases demanding timely diagnostic using advanced devices and equipment can fuel growth of the market for market infectious disease diagnostic testing in near future. Rising focus on consumer-centric services and demand for portable and rapid testing devices can positively influence market expansion. Growing need for mobile and self-diagnosing devices in rural areas driven by high prevalence of communicable diseases and lack of medical services can stimulate market development. Rising awareness regarding the benefits of timely diagnosis of infectious diseases to prevent complications can augment market growth during the forecast period.
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The global infectious disease diagnostic testing market can be segregated on the basis of product type, application, and region. Based on product type, the market can be categorized into point-of-care (POC) infectious disease diagnostic test, and molecular diagnostic test. The POC infectious disease diagnostic testing segment is expected to witness significant growth during the forecast period owing to high demand among old patients. Rising geriatric population prone to infectious diseases attributed to low immunity is anticipated to boost the demand for portable diagnostic devices for regular monitoring.
Based on application, the infectious disease diagnostic testing market can be classified into respiratory, tropical diseases, liver, Human Immunodeficiency Virus (HIV), Healthcare-associated Infections (HAIs), and others. Regional segmentation includes Japan, China, India, Southeast Asia, United States, and Europe. United States is expected to grow well and account for maximum share in the forthcoming years. High prevalence of infectious diseases coupled with availability of developed healthcare system can influence market growth. In addition, rising number of national clinical laboratories and easy availability of technically advanced equipment can fuel growth of market during the forecast period.
The India market for infectious disease diagnostic testing is anticipated to witness substantial growth during the forecast period attributed to technological advancements in molecular diagnostics and easy availability of immunosuppressive drugs.
Some of the leading companies offering infectious disease diagnostic testing are Abbott, Alere, bioMerieux, Diasorin, and Roche Diagnostic. Most companies are likely to form strategic collaboration with other established and developing entities to enhance their market presence and develop strong product portfolio.
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