According to the most recent report by Emergen Research, the size of the global market for infectious disease rapid diagnostic testing is anticipated to reach USD 51.01 billion in 2030 and see a revenue CAGR of 7.0% during the projected period. Rising number of outbreaks of infectious diseases, continued development and launch of new and more accurate rapid diagnostic tests, and surging demand for point-of-care testing are expected to drive market growth over the forecast period. Moreover, favorable government policies and initiatives to promote rapid diagnosis of infectious diseases are projected to create significant growth opportunities for market players in the coming years. However, the high cost of rapid diagnostic tests and lack of trained personnel for operating these tests are expected to restraint market growth to a certain extent in the coming years.
Some of the main elements influencing market revenue growth are the rise of COVID-19 and the rising occurrence of infectious disorders. Infectious disease quick diagnostic testing has been in high demand due to the increased prevalence of infectious diseases in both industrialised and developing nations.Since the pandemic, there has been a huge increase in the demand for testing kits as the necessity to detect and track infectious diseases has been given a high priority.
Furthermore, over the projected period, a rise in the need for preventative care is anticipated to boost the need for infectious disease diagnostics. In order to boost COVID-19 prevention and control initiatives and measures, large-scale population-based testing is required, and this is anticipated to continue driving up demand for infectious disease diagnostic tools in the future.
Global demand for goods for infectious illness quick diagnostic tests has surged as a result of the rise in cases of Severe Acute Respiratory Syndrome Coronavirus-19 (SARS-Cov-19). The majority of nations are currently concentrating on flattening the curve of coronavirus community transmissions, which is fueling demand for diagnostics products. The expansion of manufacturing capacity by market players to satisfy rising product demand in the present situation as well as to plan for future conditions is another element boosting product demand.
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Key Highlights of Report:
- Due to the increased demand for kits and reagents in research and clinical settings, the revenue for the reagents & kits sector is anticipated to grow steadily throughout the forecast period. Another factor influencing the use of reagents and kits is the ongoing COVID-19 infections in various nations.
- Due to the growing usage of PCR in molecular diagnostics and the use of RT-PCR in the COVID-19 test, the Polymerize Chain Reaction (PCR) segment accounted for a disproportionately large revenue share in 2021. The advent of cutting-edge technologies like qRT-PCR and automation of PCR equipment are anticipated to fuel this segment’s revenue growth.
- Due to rising R&D efforts in the healthcare sector in China and Japan, the Asia Pacific market for infectious disease fast diagnostic testing is anticipated to have a significantly rapid rate of revenue growth throughout the projected period. Moreover, the region’s market is experiencing revenue growth as a result of the high prevalence of chronic diseases and government initiatives to support the diagnosis of infectious diseases.
- Abbott Laboratories, Danaher Corporation, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Corporation, BioMérieux SA, BD (Becton, Dickinson and Company), Siemens Healthineers AG, PerkinElmer Inc., Bio-Rad Laboratories, Inc., and Sysmex Corporation are a few of the well-known businesses mentioned in the market report.
- Hoffmann-La Roche Ltd. introduced the SARS-CoV-2 variant test on March 16, 2021, to help in coronavirus variant detection. The goal of the cobas SARS-CoV-2 variation set 1 test is to find significant spike alterations in viral variants connected to increased human-to-human transmission. In order to assess the spread of circulating variants and keep track of their possible effects on treatment, vaccinations, and public health initiatives, accurate identification and classification of SARS-CoV-2 variants are necessary.
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Emergen Research has segmented the global infectious disease rapid diagnostic testing market on the basis of product & service, technology, disease, end-use, and region:
Product & Service Outlook (Revenue, USD Billion; 2019–2030)
- Reagent & Kits
- Data Management Software
Technology Outlook (Revenue, USD Billion; 2019–2030)
- Enzyme-linked Immunosorbent Assay (ELISA)
- Enzyme-linked Immunospot Assay (ELISpot)
- Polymerize Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- DNA Microarray
- Clinical Microbiology
- Other Technologies
Disease Outlook (Revenue, USD Billion; 2019–2030)
End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Hospital & Clinical Laboratories
- Diagnostic Center
- Academic & Research Institutions
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