Infinium Global Research’s recent report on “Infectious Disease Testing Market (By Technology (Molecular Testing, Microbiology, Immunodiagnostics), By Product (Equipment, Reagents, Software), By Application (Hepatitis, HIV, Methicillin-resistant Staphylococcus Aureus (MRSA) Infection, Human Papillomavirus (HPV), Respiratory Tract Infections, Others), By End User (Hospitals Laboratories, Reference Labs, Physician Office Labs, Academics Lab, Others)): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2028” the provides a comprehensive outline of the factors responsible for the growth of the market. The revenue generated by the market was approximately about USD 27 billion in 2022 and is expected to reach approximately nearly USD 41 billion in 2028.
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Increasing Awareness Among the Population About Communicable Diseases
Disorders produced by microorganisms like bacteria, viruses, fungus, or parasites are known as infectious diseases. Our bodies are home to a variety of creatures. Although they are mostly beneficial or even innocuous, some organisms have the potential to spread illness. It is possible for some infectious diseases to spread from person to person. Some are dissipated by bug or animal bites. Others are contracted by consuming tainted food or water or by being exposed to environmental microbes. Fever and weariness are frequent signs and symptoms of infection, though they might vary depending on the organism that is causing it.
While severe life-threatening infections may necessitate hospitalization, mild infections may respond to rest and home remedies. Vaccines can prevent a lot of infectious diseases, including measles and chickenpox. High prevalence of infectious diseases and increasing awareness among the population about communicable diseases are driving the market. Advances in molecular biology and a changing healthcare trend toward more accurate, safe, and effective diagnosis is further expected to provide new opportunities in the market.
In China, the first patient with COVID-19 symptoms was discovered in the first few days of December 2019. Following the discovery of the first COVID-19 case, the virus infected almost 550 million individuals worldwide and resulted in 6 million fatalities. Pressure was placed on the hospital, pharmaceutical, and life science sectors by the increase in cases. The businesses in these industries observed a huge consumer demand. The COVID-19 virus was extremely contagious and contagious. During the epidemic, the demand for diagnostics solutions rose quickly. Patients with COVID-19 primarily experienced respiratory symptoms, including coughing, sore throats, and shortness of breath. When diseases were being diagnosed during pandemics, RT-PCR tests were created and were regarded as the gold standard.
Hospitals/Laboratories to Dominate the End User Segment of Market
Hospitals/Laboratories is expected to dominate the End User segment of market. The hospital offers the best in class and cost-effective health care facilities. The best hospitals are dedicated to providing optimum health care with modern electronic devices. These hospitals are equipped with the latest medical technologies and harvest the best medical talent. Laboratories are independent referral or diagnostic and testing facilities that provide all types of infectious disease testing services, along with personnel to verify and analyze the reports. A wide variety of instruments and devices are used for the testing process in reference laboratories. They are expected to be the major end users as they are first choice for patients for seeking treatment and testing of infectious diseases.
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Asia-Pacific to be the Dominant Region in Infectious Disease Testing Market
The global Infectious Disease Testing market is divided into four regions based on geography: It is anticipated that Asia-Pacific will dominate the market. The market is expanding in the Asia Pacific area as a result of elements such the high frequency of infectious diseases, the rising geriatric population, and technical developments in infectious disease testing. Players in the industry have new prospects for expansion thanks to the region. The market in the Asia Pacific is also expected to increase as a result of the region's expanding medical tourism industry and rising investments from leading market participants.
The improvement of the region's healthcare infrastructure and raising patient knowledge of the accessibility of infectious disease tests and diagnostics are credited with driving growth. Additionally, a growth in the number of production facilities has occurred in developing nations like China and India due to their lowest manufacturing costs. As a result, important manufacturers go from all over the world to the area.
Companies in Infectious Disease Testing Market to Focus on New Product Launches
The players have adopted various strategies to increase their market share. Agreement with companies, Acquisitions, collaborations, Product launches, and distributors of the business has been one of the major strategies of market players. Major players of the market include Abbott Laboratories, Becton, Dickinson & Co, Bio-rad Laboratories, Thermo Fisher Scientific, Inc., Siemens Healthcare, and others. In December 2021, Becton, Dickinson & Co launched BD COR MX instrument for infectious disease testing.
In March 2020, Abbott Laboratories launched Abbott ID NOW™ COVID-19 Molecular Point-Of-Care Test which for detecting covid-19 virus in less than 5 minutes. Infinium Global Research’s recent report on the Global Infectious Disease Testing Market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments the global market.
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=> Comprehensive analysis of global as well as regional markets of the infectious disease testing.
=> Complete coverage of all the product types and applications segments to analyze the trends, developments, and forecast of market size up to 2028.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.
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