In 2020, the global infectious disease diagnostic market size was at ~$22,321.99 million. The market is estimated to grow at a CAGR of more than 6.5% during the forecast period from 2021 to 2027.
An infectious disease diagnosis is a form of laboratory test that helps identify the name of the disease and its cause in the body. Experienced technicians and physicians perform the tests to recognize the infection present in the body. Moreover, these test procedures are mostly performed through the sample of fluids like urine, blood, mucus. The samples are taken to the lab to diagnose the disease with the help of several methods and machines.
The growth of the global infectious disease market will be influenced by the rapid pervasiveness of deadly infections in the body. COVID-19, hepatitis, influenza, and human immunodeficiency virus (HIV) are a few infectious diseases surging the growth of the market. Other than that, rising demand for the point-of-care diagnostic test, advancement in technologies, and growing funding’s from the private & government sector to expand the range of diagnostic service centers are the few other factors driving growth in the market.
Abbott, a renowned global healthcare company declared the opening of the new Abbott ID now COVID-19 test in 2020. The advanced method will help detect COVID-19 in just 5 minutes.
The growing geriatric population is another reason for the surge in market growth. Elders are more prone to infectious diseases. Thus, they have a higher chance of getting infected.
As per Food and Drug Administration (FDA) reports, 300,000 individuals in the age group of 50 and get infected with pneumococcal pneumonia every year. It can boost the growth of the market in the forecast period.
The developing range of medical laboratories can boost the growth of the global infectious disease diagnostic market. The Indian government started three high throughputs Indian Council of Medical Research labs to amplify the COVID-19 testing capacity.
Moreover, the increasing knowledge among individuals for early tests to avoid infectious disease will be another reason for the growth of the global infectious disease diagnostic market during the forecast time frame.
Developing IT methods and the generation of high-level diagnostic devices is anticipated to show extraordinary results in the rise of the global infectious disease diagnostic market during the forecast period.
Regional Analysis
North America held dominance by having possessing most of the shares in 2020 and is expected to stay in lead during the forecast period. The growing spread of infectious disease, the healthcare segment, and the existence of leading diagnostic companies led to the advancement of the global infectious disease diagnostic market in the region.
COVID-19 Impact
The COVID-19 outbreak will heighten the global infectious disease diagnostic market's growth. The pandemic has emphasized the healthcare systems to develop and has increased the requirement for advanced diagnostic technologies and labs.
The demand for point-of-care testing will heighten the growth of the infectious disease diagnostic market.
Key Market Segments
By Product
By Disease Type
By Technology
By Region
Key Market Players
