The IVD infectious diseases market was worth about USD 14 billion in 2014. It would grow at a CAGR of around 8.1% from 2015 to 2022 (forecast period). Its demand may be fueled by multiple infections, burgeoning old population, awareness regarding communicable illnesses, and lower immunity.
Low-income countries witness communicable diseases like Ebola and H1N1. Factors conducive to the same are poor hygiene, early testing taboos, and less awareness. The geriatric population in low-income nations is another favorable market factor. Elders are highly susceptible to communicable diseases. Technologically-advanced diagnostic devices offering higher accuracy, faster results, easy usage, and cost-effectiveness are a key to expansion in the IVD infectious diseases market.
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The market may be categorized into products, technologies, applications, test locations, and regions. Product segments are instruments and reagents. Reagents, the dominant product, accounted for about USD 8, 890 million in 2014. The share of instruments could increase due to their speed, efficiency in diagnosing multiple samples at one go, and other advantages.
Technologies comprise microbiology, immunochemistry, and molecular diagnostics. Molecular diagnostics will be the fastest-growing (CAGR of 9.1%) segment over the next seven years. Immunochemistry, the conventional one, generated around USD 4.5 million in 2014. Factors contributing to its demand are cost-effectiveness, ease-of-use, and wide availability of testing kits.
Some of the applications of the IVD infectious diseases market comprise MRSA, clostridium difficile, respiratory virus, streptococcus, vancomycin-resistant enterococci, candida, carbapenem-resistant bacteria testing, and gastro-intestinal panel testing. HPV, tuberculosis & drug-resistant TB, Chlamydia, HIV, Gonorrhea, Hepatitis B, Hepatitis C, and others are the other applications.
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The segment of HIV can grow at a very high rate due to its infliction rates, favorable governmental initiatives, and awareness. Point of care, central laboratories, and others are the test locations of the market. Central laboratories occupied the maximum share in 2014. However, point of care would experience lucrative growth (CAGR of 10.2%) in the near future.
Health-consciousness and ‘rapid testing’ requirement aid the demand for this segment. Regional segmentation encompasses North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA). North America dominated the market in 2014. Unmet demands and economic upswings in Asia Pacific and MEA are likely to propel these regions. The worldwide IVD infectious diseases market is oligopolistic.
Roche Diagnostics, Gen-Probe Inc., Siemens Healthcare, and Abbott Laboratories are its dominant players. Development of specialized products is an important strategy adopted by them.
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