The global tuberculosis diagnostics market is expected to reach a market size of USD 3.58 Billion by 2027 and register a high revenue growth rate during the forecast period, according to a new report by Reports and Data. Growing incidence of tuberculosis is a major factor driving growth of the tuberculosis diagnostics market.
According to the World Health Organization (WHO), every year, 8.8 million new cases of tuberculosis are found and approximately 2 million deaths are caused by the disease. Resistance to multiple drugs among patients suffering from tuberculosis is another key point of concern.
Rise in initiatives by governments and independent organizations to control the spread of tuberculosis is also contributing to growth of the global tuberculosis diagnostics market. Various organizations are trying to create awareness regarding the infectious disease, especially in underdeveloped countries, to limit the disease spread. over the years due to rapid and reliable results. This limits growth of the global tuberculosis diagnostics market.
The COVID-19 Impact: The global tuberculosis diagnostics market witnessed slowdown during the COVID-19 pandemic. The disease affected the entire world and public as well as private organizations were focused on development of testing kits for COVID-19 only. This led to significant shortage in supply of tuberculosis diagnostic kits. However, with the pandemic under control to a certain extent, public as well as private organizations have started focusing on other diseases as well, including tuberculosis.
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Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Tuberculosis Diagnostics market in these key regions.
Further Key Findings from the Report Suggest
- Latent tuberculosis is not contagious, unlike active tuberculosis. Countries with high prevalence of tuberculosis have a higher percentage of latent tuberculosis patients. The need to test latent tuberculosis drives demand for tuberculosis diagnostics. This factor in turn boosts market growth.
- Nucleic acid testing of tuberculosis provides a higher level of accuracy. Developed regions have high demand for nucleic acid testing. Advancements in for Tuberculosis diagnostic and rise in commercialization of nucleic acid testing are factors driving growth of the segment.
- The hospitals end-use segment accounted for the largest revenue share in the global tuberculosis diagnostics market in 2019. The large number of admissions of tuberculosis patients in hospitals is fueling growth of the hospitals segment.
- The Asia Pacific market accounted for the largest revenue share in the global tuberculosis diagnostics market in 2019, owing to increase in healthcare budgets by governments of developing economies in the region, including India.
- Key participants include Alere Inc., F.Hoffmann-La Roche AG, Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Siemens, Hologic Corporation, Cepheid, Hain Lifesciences GmbH, and Thermo Fisher Scientific Inc.
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For the purpose of this report, Reports and Data has segmented the global tuberculosis diagnostics market on the basis of disease stage, test type, end-use, and region:
Disease Stage Outlook (Revenue, USD Billion; 2017-2027)
- Latent Tuberculosis
- Active Tuberculosis
Test Type Outlook (Revenue, USD Billion; 2017-2027)
- Radiographic Method
- Cytokine Detection Assay
- Nucleic Acid Testing
- Detection of Latent Infection
- Diagnostic Laboratory Method
- Detection of Drug Resistance
- Others
End-use Outlook (Revenue, USD Billion; 2017-2027)
- Clinics
- Hospitals
- Research Institutes & Academics
- Reference Laboratories
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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