Infectious Disease Diagnostics Market Scenario
The global infectious disease diagnostics market size is projected to reach USD 33.1 billion by 2027 from USD 35.5 billion in 2022, at a -1.4% CAGR. Growth in the infectious disease diagnostics industry is mainly driven by factors such as the rising prevalence of infectious diseases and the rising funding for R&D in infectious disease diagnostics.
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The growing awareness for early disease diagnosis, shift in focus from centralized laboratories to decentralized point-of-care testing and rising technological advancements are factors supporting the growth of this market. On the other hand, an unfavorable reimbursement scenario is expected to limit market growth to a certain extent in the coming years.
Key Market Players
The major players in this market are Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMérieux SA (France), Siemens Healthineers AG (Germany), Danaher Corporation (US), Becton, Dickinson and Company (US), PerkinElmer, Inc. (US), Hologic, Inc. (US), QIAGEN N.V. (Netherlands), Grifols S.A. (Spain), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics Holdings plc (US), Quidel Corporation (US), Meridian Bioscience (US), Genetic Signatures Ltd. (Australia), OraSure Technologies (US), Trinity Biotech Plc. (Ireland), Chembio Diagnostic Systems (US), Seegene, Inc. (South Korea), Co-Diagnostics (US), ELITechGroup (France), Epitope Diagnostics (US), Trivitron Healthcare (India), Meril Life Sciences Pvt. Ltd. (India), InBios International (US), Vela Diagnostics (Singapore) and Uniogen Oy (Finland).
Abbott Laboratories accounted for the largest share of the infectious disease diagnostics market. Abbott Laboratories is a leading player in the infectious disease diagnostics market. The launch of the ID NOW POC testing system by the company is expected to support the growth of its infectious disease diagnostics segment.
F. Hoffmann-La Roche Ltd. accounted for the second largest share of the infectious disease diagnostics market . Under its flagship brand- cobas- the company offers a wide variety instruments and reagents that are widely used by end users across the globe. The company also has a wide geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia.
Thermo Fisher Scientific accounted for the third largest share of the infectious disease diagnostics market. It is one of the key players operating in the infectious disease diagnostics market. The company’s leading position in this market can be attributed to its strong sales and distribution network, enabling it to effectively market its products in various countries.
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North America is the largest regional market for infectious disease diagnostics market
The infectious disease diagnostic market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the market. The large share of this region can be attributed to the highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.
Mergers and Acquisitions:
- Roche Diagnostics Launched cobas 5800 system.
- Thermo Fisher Scientific acquired Mesa Biotech (US) to expand the benefits of molecular diagnostics at the point of care.
- Abbott Laboratories launched the ID NOW COVID-19 Test.
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