The latest market report published by Credence Research, Inc. “Tuberculosis Diagnostics Market – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global tuberculosis diagnostics market was valued at US$ 2,220.9 Mn in 2016, and is expected to reach US$ 3,326.9 Mn by 2025 expanding at a CAGR of 4.5 % from 2017 to 2025.
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According to World Health organization in 2015 the MDR-TB reported cases were 480,000. The tuberculosis diagnostics kit has undergone tremendous technological advancement to give better accuracy, quick results, and available at low cost. For the purpose of this study, the global tuberculosis diagnostics market is segmented into test types which includes radiographic methods, laboratory methods, nucleic acid testing, phage assay, cytokine detection test, detection of drug resistance, and Mantoux test. In base year 2016, laboratory methods are leading the types segment due to rising prevalence of tuberculosis, easy collection of specimen sample and available at low cost. Nucleic acid testing, cytokine detection test segment is anticipated to register faster growth in the test types segment throughout the forecast period 2017-2025, as it is providing greater accuracy and requires less incubation period for the interpretation of the results. In 2016 Asia Pacific region dominated the tuberculosis diagnostics market due to factors such as large patient pool suffering with tuberculosis, government and non-government initiatives to eradicate tuberculosis and high disposable income in these regions. North America will register fastest growth throughout the forecast period 2017-2025, mainly due to factors such as rising public awareness regarding contagious diseases, advanced healthcare infrastructure and affordable reimbursement policies.
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The tuberculosis diagnostics market is technologically driven and includes major players such as Thermo Fisher Scientific Corporation, Alere Inc., Abbott Laboratories, and Becton Dickinson and Company, among others are few market leaders in tuberculosis diagnostics market and compete to augment their foothold in the market.
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Key Market Movements:
- Higher prevalence of tuberculosis and MDR-TB
- Technological advancement in the tuberculosis diagnostics market providing accuracy and quick result
- Increasing government and non-government initiatives to eradicate tuberculosis
- Affordable reimbursement policies
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