En Es
Categories

Industry News

Global Infectious Respiratory Disease Diagnostics Market Driven by New Multiplex PCR Tests and POC Products

By Labmedica International staff writers
01 Nov 2022

Image: The global infectious respiratory disease diagnostics market is expected to reach USD 43.6 billion by 2030 (Photo courtesy of Pexels)

The global infectious respiratory disease diagnostics market size is expected to reach USD 43.6 billion by 2030, driven by an increase in the prevalence of infectious respiratory diseases and initiatives taken by governments & non-profit organizations to introduce novel & innovative products to address the growing demand. The market growth is expected to be fueled by the rising incidence of infectious respiratory disorders, such as tuberculosis, RSV, and influenza. According to the UN, pneumonia affects around 4.2 million people every year. Additionally, the key market players are developing innovative techniques to improve production for meeting the growing demand in diagnostics and consumables for the diagnosis of infectious diseases.


These are the latest findings of Research and Markets (Dublin, Ireland), a market research firm.


The market players are launching multiplex tests for the simultaneous diagnosis of RSV, influenza, and COVID-19 respiratory diseases. RT-PCR tests are considered the gold standard for the diagnosis of COVID-19 in patients. However, the high prices associated with molecular tests are one of the major factors hampering market growth. The lack of comparable products is another reason for the higher prices. This problem is further compounded by significant variations in the prices for different applications of each molecular diagnostic product. The market players are adopting strategies, such as new product launches and partnerships, to increase the penetration of their infectious respiratory disease diagnostics products.


In 2021, the consumables segment accounted for the largest revenue share and is anticipated to maintain its dominance over the forecast period owing to high testing rates for the diagnosis of COVID-19 and the commercialization of multiple assays in recent years. Molecular diagnostics accounted for the highest revenue share in 2021, due to the increasing use of PCR technology for COVID-19 diagnosis. The nasopharyngeal swabs sample type segment held the highest revenue share in 2021 owing to high usage in COVID-19 diagnosis. The COVID-19 application segment led the industry in 2021 due to factors, such as high incidence rate, increasing product approvals, and high R&D initiatives for launching innovative products. Tuberculosis diagnostics is expected to register the fastest CAGR during the forecast period, led by increasing government focus and R&D funding for the development of diagnostics. Asia Pacific is expected to register the fastest growth during the forecast period, on the back of higher penetration of IVD products, rise in disposable income, and increased prevalence of tuberculosis in the underdeveloped countries.


Related Links:
Research and Markets



E-mail Print
FaceBook Twitter Google+ Linked in

Additional news

25 Jan 2023
Global Diagnostic Imaging Services Market Driven by Rising Prevalence of Chronic Diseases
The global diagnostic imaging services market was valued at USD 40.80 billion in 2021 and is expected to register a CAGR of 5.8% during the forecast period 2022-2030 to reach USD 67.94 billion in 2030, driven by the rising prevalence of chronic diseases, increasing elderly population, and rapid technological advancements in the healthcare diagnostic industry.
Read More
25 Jan 2023
Global Endoscopy Equipment Market Driven by Growing Hospital Investment in Advanced Instruments
The global endoscopy equipment market is projected to register a CAGR of 7% from USD 28.9 billion in 2022 to USD 40.6 billion by 2027, driven by increasing demand for endoscopy to diagnose and treat target diseases, rising investments, funds, and grants by governments and other organizations across the world, and growing focus by hospitals on investing in technologically-advanced endoscopy instruments and expanding endoscopy units.
Read More
25 Jan 2023
Point-of-Care Glucose Testing Market to Reach Almost USD 6 Billion by 2032
The global point-of-care (POC) glucose testing market is projected to register a CAGR of 4.3% during the forecast period from 2022 to 2032 to reach USD 5.8 billion by 2032, driven by a rise in the geriatric population, speed & precision of POC screening, increased adoption of electronic medical information, and the higher risk of COVID-19-related mortality associated with diabetes.
Read More
24 Jan 2023
Carolina Liquid Chemistries and Diazyme Enter Into Partnership
Carolina Liquid Chemistries, Corp. (CLC, Greensboro, NC, USA) and Diazyme Laboratories, Inc. (San Diego, CA, USA) have entered into a partnership to expand the test menu on the Diazyme DZ-Lite c270 benchtop clinical chemistry analyzer, allowing it to run both special and routine chemistries.
Read More
23 Jan 2023
Mindray Defibrillators Amongst the World’s First to Receive MDR Clearance
Mindray has received the CE marking for its defibrillation product family under the European Union's newest Medical Device Regulation (MDR). With the new rule tightening the controls for defibrillation devices, Mindray has become among the first manufacturers in the world to earn MDR accreditation for product quality and effectiveness.
Read More
23 Jan 2023
Siemens Launches Centre of Excellence for Immunoassay Instrument R&D in Ireland
Siemens Healthineers has launched a Center of Excellence for Immunoassay Instrument Research and Development (R&D) in Swords, Ireland. The new center will focus on unlocking breakthrough innovations in laboratory instruments used to detect infectious diseases, cancer and blood disorders.
Read More
20 Jan 2023
Global Intensive Care Unit (ICU) Equipment Market Driven By Increasing Neurological Diseases
The global intensive care unit (ICU) equipment market was valued at USD 6.6 billion in 2021 and is estimated to register a CAGR of 3.9% from 2022 to 2031 to reach USD 9.6 billion by 2031, driven primarily by a rise in the prevalence of neurological diseases.
Read More
20 Jan 2023
Bayer Acquires Imaging AI Platform Provider in the UK
Bayer (Leverkusen, Germany) has acquired Blackford Analysis Ltd. (Edinburgh, UK), a global strategic imaging AI platform and solutions provider. The acquisition is part of Bayer's strategy to drive innovation in radiology, including the development and adoption of AI within the clinical workflow, with the goal to ultimately improve patient care and advance the company’s position in digital medical imaging.
Read More
16 Jan 2023
Medlab Middle East Sees 100% Increase in Exhibitor Numbers
Medlab Middle East, the MENA region’s largest medical laboratory exhibition and congress, has sold out its exhibitor space ahead of the show, which returns to the Dubai World Trade Centre from February 6 to 9, 2023.
Read More
Copyright © 2000-2023 TradeMed.com. All rights reserved. | Terms And Conditions