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Rising COVID-19 Cases Lead to Growth of Infectious Diseases Diagostics Market

Date: 27th May 2020 | Category: Pharma & Healthcare

The global infectious diseases diagnostics market reached US$24.32 billion in 2024, growing at a CAGR of 3.30% for the duration spanning 2020-2024. The factors such as increasing prevalence of HIV infection, expansion of medical devices market, growth in geriatric population, increasing medical technology R&D spending, rapid urbanization and upswing in healthcare expenditures would drive the growth of the market. However, the market growth would be challenged by lack of skilled professionals, high cost of infectious diseases diagnostics and stringent government regulations. A few notable trends may include accelerating growth rates of infectious diseases, increasing focus on telehealth, growing pharmaceutical and biotech mergers and acquisitions, emergence of various pandemic diseases and demand for point-of-care (POC) tests. 

The global infectious diseases diagnostics market is segmented into reagents, instruments and software. The market is dominated by diagnostic reagents due to the rising number of in-vitro and in-vivo testing procedures. Whereas, the demand for diagnostic instruments has been augmented considerably over the years, owing to the convenience in complex task of screening and testing of infected patients. Diagnostic software also emerged out as a potential segment due to the advancement in medical technology, which led to the launch and introduction of various IT based systems for medical diagnosis. 

The fastest growing regional market is North America due to the presence of major players, who continued innovating and developing new medical devices in the diagnostics field. While, Europe and Asia-Pacific have also contributed significantly to the global market, owing to the increase in medical technology R&D spending. Further, the rapid increase in the symptomatic coronavirus patients is leading to the excessive demand for medical testing, which is providing a scope for the growth of the global infectious diseases diagnostics market. 

Scope of the report:

The report provides a comprehensive analysis of the global infectious diseases diagnostics market.

The major regional markets (North America, Europe, Asia-Pacific and ROW) have been analyzed. 

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

The competitive landscape of the market, along with the company profiles of leading players (Siemens AG, Abbott Laboratories, Danaher Corporation, Becton, Dickson and Company (BD), BioMérieux and Bio-Rad Laboratories) are also presented in detail.

Key Target Audience:

Diagnostic Devices Manufacturers

Medical Technology Firms 

End Users (Hospitals, Clinics, Emergency Centers, Home care, etc.)

Investment Banks

Healthcare and Medical Consultants. 

Government Bodies & Regulating Authorities