Hyderabad, India -- (SBWire) -- 02/05/2018 --According to a new market research report "Infectious Diseases Diagnostics Market By Product (Instruments, Reagents, Services, Software), Application (Hepatitis C, AIDS, Tuberculosis), Technology (PCR, INAAT, DNA Sequencing, Hybridization), End User (Hospital, Laboratories) And By Region - Global Industry Analysis, Size, Share, Growth, Trends And Forecasts (2017 To 2022)", published by MarketDataForecast™, the market is expected to reach USD 21.13 Billion by 2022 from USD 14.45 Billion in 2017, at a CAGR of 7.9%.
Infectious disease diagnostics is a process of identifying a foreign antigen presence with the aid of various diagnostic tools. With the evolvement of technology, the tests are also performed quickly and accurately. As a result, The world of diagnostics is growing rapidly with the global market for infectious diseases diagnostics is witnessing a steady pace since the past few years.
Due to lack of awareness towards health care in developing and underdeveloped countries, number of people suffering from these diseases is increasing rapidly. Increasing victims of infectious diseases and growing demand for disease diagnostics are some of the key factors that drive the Infectious Disease Diagnostics market. Rising funds from the government and support from Non-Profit Organisations in spreading awareness in underdeveloped countries also have a positive influence on the market growth. However, high prices of the diagnostic kits and lack of proper distribution strategy to underdeveloped countries are the key challenges that are faced by this market.
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By product, the Infectious Disease Diagnostics market is divided into Instruments & Analysers, Consumables (Assays and regents), services, and software. Consumables dominated the market in 2016 accounting for almost 70% of the market share.
With respect to technology, the market is segmented into PCR, INAAT, DNA Sequencing and Hybridization. DNA sequencing and INAAT are showing huge potential for growth in the forecast period owing to the specificity and efficiency of these processes.
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By End User, the market is further segmented into Hospitals, laboratories. Hospitals are projected to lead this segment during the forecast period.
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Based on region, the Infectious Disease Diagnostics Market is segmented into North America, Europe, Asia, Latin America and Middle East and Africa. North America commanded the major share of the market closely followed by Europe. Asia-Pacific is expected to show rapid growth rates owing to the high prevalence of infectious diseases in countries such as India and China.
Key players in the Infectious Disease Diagnostics Market are Abbott Laboratories, bioMérieux SA, Hologic, Inc., Danaher Corporation, Becton, Dickinson and Company, Cepheid Inc., Thermo Fisher Scientific Inc., Roche Diagnostics, Alere Inc., DiaSorin S.p.A., Quidel Corporation, and Bio-Rad Laboratories Inc.
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