According to the new market research report "Infectious Disease Diagnostics Market by Product (Reagents, Kits, Instrument, Software), Test Type (Lab, POC), Disease (COVID-19, Flu, HAIs, HIV, HPV), Technology (Immunodiagnostics, NGS, INAAT, PCR), End User (Hospitals, Labs) - Global Forecast to 2027", published by MarketsandMarkets™, the market is projected to reach USD 33.1 billion by 2027 from USD 35.5 billion in 2022, at a -1.4% CAGR.
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The global prevalence of infectious diseases and the growing awareness for early disease diagnosis, shift in focus from centralized laboratories to decentralized POC testing and rising technological advancements are factors supporting the growth of this market. Growth opportunities in growing economies provide lucrative opportunities for the players operating in the infectious disease diagnostic market.
The reagents, kits, and consumables segment accounted for the largest share of the infectious disease diagnostics market, by product service segment, in 2021
Based on product service, the infectious disease diagnostic market is segmented into reagents, kits, and consumables; instruments; and software services. In 2021, the reagents, kits, and consumables segment accounted for the largest share of this market. The requirement of reagents, kits, and consumables in large numbers compared to instruments is the main factor contributing to the large share of this segment. Unlike instruments, reagents, kits, and consumables segment requires repeat purchases, which results in its stable demand among end users.
POC testing segment to register the highest CAGR during the forecast period
Based on the type of testing, the infectious disease diagnostics market has been segmented into laboratory testing and POC testing. In 2021, the POC testing segment accounted for the highest CAGR. This can be attributed to the need to closely monitor patient conditions and advantages such as faster diagnosis.
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The COVID-19 segment accounted for the largest share of the infectious disease diagnostics market, by disease type segment, in 2021
Based on disease type, the market is segmented into COVID-19, HIV, HAIs, hepatitis, CT, NG, HPV, Tuberculosis, influenza, syphilis, mosquito-borne diseases and other infectious diseases. In 2021, the COVID-19 disease type segment accounted for the largest share of this market due to factors such as the increasing number of cases and the availability of many COVID-19 diagnostic tests.
The diagnostic laboratories segment accounted for the largest share of the infectious disease diagnostics market, by end user segment, in 2021
Based on end user, the infectious disease diagnostic market has been segmented into diagnostic laboratories, hospitals clinics, academic research institutes, and other end users. In 2021, diagnostic laboratories accounted for the largest share of the market. Diagnostic laboratories command the major share of the market owing to increased test volume of infectious diseases and strengthening healthcare infrastructure for efficient disease diagnosis and treatment.
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North America is the largest regional market for infectious disease diagnostics market
The infectious disease diagnostic market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East Africa. In 2021, North America accounted for the largest share of the market. The large share of this region can be attributed to the highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.
Key Market Players
The major players operating in this infectious disease diagnostics market are Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMérieux SA (France), Siemens Healthineers AG (Germany), Danaher Corporation (US), Becton, Dickinson and Company (US), PerkinElmer, Inc. (US), Hologic, Inc. (US), QIAGEN N.V. (Netherlands), Grifols S.A. (Spain), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics Holdings plc (US), Quidel Corporation (US), Meridian Bioscience (US), Genetic Signatures Ltd. (Australia), OraSure Technologies (US), Trinity Biotech Plc. (Ireland), Chembio Diagnostic Systems (US), Seegene, Inc. (South Korea), Co-Diagnostics (US), ELITechGroup (France), Epitope Diagnostics (US), Trivitron Healthcare (India), Meril Life Sciences Pvt. Ltd. (India), InBios International (US), Vela Diagnostics (Singapore) and Uniogen Oy (Finland).
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