Increasing prevalence of infectious diseases and need for more efficient and rapid diagnostics are some key factors driving market revenue growth

VANCOUVER, BC, CANADA, July 21, 2022 /EINPresswire.com/ -- The global Infectious Disease Rapid Diagnostic Testing Market is forecasted to be worth USD 3.56 Billion by 2027, according to a current analysis by Emergen Research. The rising cases of infectious disease all over the globe and the need for the immediate diagnosis will propel market growth. The evolving pathogens and rise in the occurrence of hospital-acquired infections (HAIs) are creating a need for a quick diagnosis of the diseases to stop the spread. Governments all over the world are investing in rapid diagnostic testing kits to increase their rate of testing and prevent any sort of epidemic.

The advancement in technology has also encouraged the infectious disease rapid diagnostic testing market growth. Investment in research and development has helped in the development of effective diagnostic testing kits, which have helped in the advancement in the market product. However, the lack of proper reimbursement rates may result in lower access for patients to testing, which hinders market growth.

There is a surge in infectious diseases such as hepatitis, malaria, tuberculosis, influenza, and HIV-AIDS. The rise in the SARS-Cov-19 virus has led to the massive demand for infectious disease rapid diagnostic testing products. All the nations are focusing on flattening the curve of the community transmission, which is propelling the demand for the market. Another factor driving the demand for the product is the scale-up of manufacturing capabilities by the market players. Industry players are expanding to fulfill the growing demand for the product in the current scenario.

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Prominent Players Analyzed in the Report:

Abbott Laboratories, Danaher Corporation, BGI Group, DiaSorin S.p.A, F. Hoffmann-La Roche Ltd., Luminex Corporation, bioMérieux S.A., Hologic, Inc., Thermo Fisher Scientific Inc., and Becton, Dickinson, and Company, among others.

Some Key Highlights from the Report

Bio-Rad Laboratories, in February 2020, acquired Exact Diagnostics of Fort Worth. The acquisition helped the company gain accessibility to a catalog of molecular quality control products in virology, microbiology, respiratory, transplant vector-borne, and sexually transmitted infections.

North America is expected to witness several growth opportunities resulting in an increase in the level of awareness among consumers. The presence of a large number of educational institutes, corporate buildings, hospitals, and also a rise in the self-hygiene among people will significantly impact the industry’s growth.

The lateral flow assay is among the most popular diagnostic tool that meets the requirement of colorimetric assays. It is an ideal diagnostic test, including features such as easy operation, less time consumption, durable stability, and low cost for the POC test.

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Emergen Research has segmented the global Infectious Disease Rapid Diagnostic Testing Market on the basis of product type, deployment mode, application, end-users, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

Platforms

Assays

Technology Outlook (Revenue, USD Billion; 2017-2027)

Isothermal Nucleic Acid Amplification Technology (INAAT)

Enzyme Immunoassay (EIA)

Real-Time PCR (q-PCR)

Lateral Flow Immunoassay (LFIA)

Others

Disease Outlook (Revenue, USD Billion; 2017-2027)

Bacterial Infection

CT/NG

HAIs

Tuberculosis

Others

Viral Infection

Hepatitis

Influenza Virus

HPV

HIV-AIDS

Others

Others Infections

End-User Outlook (Revenue, USD Billion; 2017-2027)

Clinics

Hospital

Diagnostic Center

Others

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Regional Outlook (Revenue, USD Billion; 2017-2027)

North America

U.S.

Canada

Europe

Germany

UK

France

BENELUX

Rest of Europe

Asia Pacific

China

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

MEA

Saudi Arabia

UAE

Rest of MEA

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Overview of the Infectious Disease Rapid Diagnostic Testing Market Report:

Introduction, Product Scope, Market Overview, and Opportunities

Analysis of the Manufacturers with sales, revenue, and price analysis

Comprehensive analysis of the competitive landscape

Extensive profiling of the key competitors along with their business strategies and market size

Regional analysis of the market along with sales, revenue, market share, and global position

Country-wise analysis of the market along with types, applications, and manufacturing

Strategic recommendations to established players as well as new entrants

In-depth analysis of the risks, restraints, and limitations in the Infectious Disease Rapid Diagnostic Testing industry

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About Emergen Research

At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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