Northbrook, IL -- (SBWIRE) -- 01/15/2021 -- According to the new market research report "Sepsis Diagnostics Market by Technology (Microbiology, PCR, Microarray, Immunoassay, Biomarkers), Product (Reagents, Assay, Instruments, Software), Method, Test Type (Lab, POC), Pathogen (Bacterial, Fungal), End User and Region - Global Forecast to 2025" published by MarketsandMarkets™.

Revenue Growth Opportunities and Growth Drivers?

The global sepsis diagnostics market size is expected to reach USD 700 million by 2025 from USD 429 million in 2019, at a CAGR of 8.5%.

Growth Drivers in Depth:

# High incidence of sepsis
# Rising incidence of hospital-acquired infections
# Growing funding for sepsis-related research
# Development of rapid diagnostic/POC techniques for early sepsis diagnosis

Recent Developments:

# In September 2019, T2 Biosystems launched T2 Resistance Panel

# In September 2019, T2 Biosystems entered into an agreement with BioNuclear Puerto Rico to expand its distribution of rapid diagnostic technologies, including the T2Bacteria and T2Candida Panels, in Puerto Rico and the US Virgin Islands

# In December 2018, BioMerieux (France) received FDA approval for BPA and BPN used with BACT/ALERT VIRTUO for quality control testing of platelets

# In November 2018, BioMerieux (France) received FDA clearance and CE approval for BIOFIRE FILMARRAY Pneumonia Panels

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Market Segmentation in Depth:

by technology, the market is segmented into blood culture, immunoassays, molecular diagnostics, flow cytometry, microfluidics, and biomarkers. In 2019, the blood culture segment accounted for the largest share of the market. This share can be attributed to the low cost of microbiology techniques and the extensive use of blood culture methods for the diagnosis of sepsis.

Based on end-user, the market is segmented into hospitals, pathology & reference laboratories, and research laboratories & academic institutes. In 2019, hospitals accounted for the largest share of the sepsis diagnostics industry. The large share of this segment can be attributed to the high prevalence of sepsis coupled with a large number of fatalities caused by the illness, and in-house hospital laboratories perform a large number of blood culture tests to identify BSIs (caused by bacteria, fungi/yeast, or viruses).

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North America is a well-established market for medical devices. The presence of a highly developed healthcare system, high adoption of innovative sepsis diagnostic technologies among medical professionals, increasing sepsis incidences performed in the region, and technological advancements in the field of sepsis diagnostics are the major factors driving the market in North America.

Key Market Players;

Some of the players in the sepsis diagnostics market are bioMérieux (France), Becton Dickinson Company (US), Danaher (US), Abbott Laboratories (US), Roche Diagnostics (Switzerland), T2 Biosystems (US), Luminex (US), Thermo Fisher Scientific (US), Bruker (US), EKF Diagnostics (UK), Immunexpress (Australia), Response Biomedical (Canada), Axis-Shield Diagnostics (UK), and CytoSorbents (US). An analysis of the market developments between 2016 and 2019 revealed that product launches & enhancements, partnerships, agreements, and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the market. Product launches were the most widely adopted growth strategies.

BioMerieux is the top player in the global sepsis diagnostics market. The company has been focusing on new product development and product approvals in the field of sepsis diagnostics. In addition, the company has a strong global presence with strong distribution channels to serve markets in North America, Europe, Oceania, Africa, and Asia Pacific. The company also tries to evaluate new, emerging, and complementary technologies to identify new product opportunities.