The infectious disease diagnosis market has always been the largest market segment in the IVD industry, and the contagious disease diagnosis technology has been continuously developing. The emerging pathogens, viruses, and outbreak of infections caused infectious diseases. Evolving lifestyles has increased diseases like diabetes, cardiovascular diseases, which raises the high burden of infectious diseases in developing countries.
The global Infectious Disease Rapid Diagnostics Testing market expected to bolster the market growth at an anticipated CAGR in the forecast period from 2020-2027. With more and more global outbreaks of rare diseases, the need for more accurate screening is becoming extremely necessary. These are stimulating the development of the infectious disease rapid diagnosis testing market.
POCT testing is the fastest-growing subfield in the IVD industry, and it has unusually high applicability in first aid, critical illness rescue, and other scenarios that require a rapid diagnosis. POCT refers to the early testing performed in the frontline of clinical treatment, commonly known as “bedside testing,” which can eliminate the complicated processing procedures for specimens in laboratory testing and quickly obtain test results.
Moreover, the rapid diagnosis testing market characterized by its proper individualization and convenience and consists of unlimited business opportunities. Such as Existing STD disease detection kits mainly include a modified new Treponema pallidum antibody rapid detection kit and an HIV- syphilis multiple quick detection kit. The ease of use, detection accuracy, and pricing of the test kits will become critical competitive factors for the product.
Furthermore, new technologies such as genetic testing, companion diagnostics, liquid biopsy, NIPT, and nucleic acid blood tests, etc. are fueling the market demand for the rapid diagnosis technology market. These technologies are striving to cover the forefront of in-vitro diagnostic technology applications to analyze future trends and growth points of the industry. Therefore, it also attracts clinical laboratory physicians and in-vitro diagnostic companies in fueling the market demand for the global Infectious disease rapid diagnostics testing market.
The Infectious disease rapid diagnostics testing market is rising mainly due to emerging cases of infectious diseases, cardiovascular diseases, and cancer. Moreover, the evolving pathogens and emerging new diseases require the urgent need for the diagnosis of such contagious diseases is rising the demand for rapid diagnostic testing.
The advancement in technology has improved the techniques and design of the medical instruments, which has fueled the market demand for the disease rapid diagnostics testing market. The propelling need for an in-expensive test kit, as well as the accuracy rate of diagnosis, is spurring the market share of the rapid diagnosis test home kits.
Based on product, the global infectious disease rapid diagnostics testing market bifurcated into Over the Counter [OTC] Rapid Test Product and Professional Rapid Test Product. The Over the Counter [OTC] Rapid Test Product segment accounted for the largest share and anticipated to grow during the forecast period from 2020-2027. The OTC rapid test product helps in providing accurate results within minutes. Therefore, it helps the patient to take further treatment without any delay.
Based on the Application, the global infectious disease rapid diagnostics testing market classified into Infectious Disease, Cardiology, Oncology, Pregnancy & Fertility, Toxicology, Glucose Monitoring, and Others. Infectious diseases have the largest market share in the global infectious disease rapid diagnostics testing market. The increasing cases of contagious diseases have propelled the market for a quick and accurate test. The technology advancement has fueled the market demand for non-invasive devices for home care aid. Therefore, pregnancy kits, rapid tests for HIV test kits, and other quick test devices have emerged in the market. Moreover, the availability, cost-effectiveness, and accessibility are also fueling the market demand for the global infectious disease rapid diagnostics testing market.
Based on the End-user, the global infectious disease rapid diagnostics testing segmented into Hospital & Clinic, Diagnostic Laboratory, Home Care, and Others. The home care segment has emerged the market share of the global infectious disease rapid diagnostics testing market and expected to dominate in the forecast period as well. It is mainly owing to the flexibility, ease of use, availability, affordable and accurate, and rapid result from the devices has improved the adoption of the new diagnosis testing kits. Therefore, the home care segment will propel the market demand for the global infectious disease fast diagnostics testing market.
Based on geography, the global infectious disease rapid diagnostics testing market segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa. North America expected to hold the largest share of the global infectious disease rapid diagnostics testing market. The Asia Pacific projected to grow at the propelling rate during the forecast period. Factors such as increasing adoption of test kits for early diagnosis and government investment in R&D due to rising prevalence of infectious diseases and emerging advance technology in the healthcare industry have fueled the demand for infectious disease rapid diagnostics testing in Asia Pacific region.
Companies such as Abbott Laboratories, Becton, Dickinson and Company, Biomérieux SA, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Luminex, Meridian Bioscience, Quidel, Roche Diagnostics, Siemens AG, Thermo Fisher Scientific, and others are key players in the global infectious disease rapid diagnostics testing market.
Middle East & Africa