Introduction of technologically advanced diagnostic devices along with associated benefits such as rapid result availability, improved accuracy, ease of usage, and cost-effectiveness is expected to serve this market as high-impact rendering drivers over the forecast period. For instance, Abbott Molecular has introduced a new range of real-time assays for HBV and HCV infections on its m200 platform.
Rising level of epidemics of communicable diseases such as H1N1 and Ebola virus is of growing concern in low-income countries. These diseases are reported to play a significant role in causing mortality in developing regions.
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Low level of hygiene, less awareness levels, and social taboo for early testing are some of the drivers leading to increasing share of target population in low-income countries. According to the WHO, number of cases has increased by around 1 million each year with over 357 million people already suffering from one of the four types of STI. It is also estimated that over 290 million women are having HPV infection and over 25% of them are unaware of the infection.
Further key findings from the study suggest:
However, instruments owing to their speed, sensitivity, and ability to diagnose multiple samples in a single run will witness significant growth rate over the decade.
Immunochemistry is one of the most conventional methods for infectious disease testing. ELISA is one of the leading technologies with market share of over 33.0%. Cost-effectiveness, large amount of kits available from key players, and ease-of-usage are high-impact rendering drivers.
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Molecular diagnostics is anticipated to witness the fastest growth over 9.0% owing to its increasing usage rates and improved accuracy levels will affect the market share of other technologies and High amount of target population, increasing prevalence at a very high rate, and favorable government initiatives for preventive care are key factors for making HIV one of the most common infectious diseases. Self-testing kits are introduced by many companies, such as Insti HIV by BioSURE, for early diagnosis and future prevention.
Central Laboratories owing to its established infrastructure, presence of skilled man force, and ability to handle high procedure volumes dominated the test location segment in 2014. PoC testing market on the other hand is anticipated to grow at a lucrative rate of 10.3% owing to increasing base of self-conscious population coupled with rising demand for rapid testing.
In 2014, North America dominated the overall IVD Infectious Disease Market. Growing prevalence of infectious diseases, rising levels of patients and healthcare professionals, and favorable government initiatives for IVD diagnostic tests are factors attributing to the major share of this market.
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China is expected to register lucrative growth over the forecast period with a CAGR of over 17.0% due to presence of improving healthcare infrastructure, presence of high unmet clinical needs, and rising economic levels. Moreover, growing demand for portable and rapid devices for early diagnosis is expected to provide potential growth platform for key market players.
Major companies such as Roche Diagnostics, Abbott Molecular, and Becton Dickinson are investing a huge amount in R&D of diagnostic kits pertaining to novel infectious diseases biomarkers. These companies are more focused in the development of kits compatible with their instruments in an attempt to stabilize their market position.
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