Global Sepsis Diagnostics Market Size, Share & Growth Projected to Grow at a CAGR of 10.5% in the Forecast Period | BlueWeave
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Increasing Incidences of Sepsis Cases Favoring Market Growth
The prevalence of sepsis is increasing at an alarming rate across the globe. Although it is a non-communicable disease, the triggers are only found within one's body, making it more lethal. Sepsis occurs when the immune system of the body tries to fight an infection but triggers chemical releases which affect the other parts or organs in the human body. Therefore, it calls for urgent medical attention. Also, it has been witnessed that with the rising number of Covid-19 cases, the incidences of sepsis have also surged. As a result, the demand for the sepsis diagnostic is growing by leaps and bounds, thereby proliferating the market growth.
Development of Sepsis Diagnostic and Treatment Procedures
The diagnosis and treatment processes for sepsis have also evolved as the medical sector has advanced. Researchers are continually working on creating innovative methods and technologies that can accurately identify sepsis in a short period of time and differentiate it from other infections so that the patient can receive proper treatment. Furthermore, as hospital capital investments increase due to favorable government initiatives and private funding, healthcare facilities are progressively adopting advanced technologies to facilitate the treatment of this life-threatening disease, which in turn is driving the sepsis diagnostic market worldwide.
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Blood Culture Media Estimated to Witness a Healthy CAGR in the Forecast Period
The global sepsis diagnostics market is divided into four categories based on products-- instruments, assays, and reagents, blood culture media, other products. Among these, the blood culture media segment dominates the global sepsis diagnosis market with the highest demand. This is because blood culture media is considered the most accurate testing method for sepsis diagnosis. Therefore, hospitals and clinics often opt for this specific method, which contributes to this segment’s growth. Not only it offers high accuracy, but it is also a cost-effective way of screening, due to which it enjoys a higher preference.
Global Sepsis Diagnostics Market - Regional Insights
Geographically, the global sepsis diagnostics market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, North America held the largest market share in the year 2020 and is estimated to maintain its dominance in the forecast period as well. However, other regions like Europe and Asia-Pacific are also registering significant growth rates. Their growth of these regions can be attributed to factors such as increasing healthcare expenditure by the government as well as the general public, along with the rising adoption of advanced diagnostic products.
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Impact of Covid-19 on the Global Sepsis Diagnostics Market
The Covid-19 outbreak has created numerous prospects for the global sepsis diagnostics market to grow. As the body tries to fight the virus on its own, the risk of sepsis in Covid-19 patients is extremely high. As a result, the chances of chemicals flowing through the bloodstream increase, due to which the need for sepsis diagnostics becomes crucial. Furthermore, while hospital visits decreased significantly during the lockdown, the risk of catching hospital-acquired diseases emerged as a major issue for patients who had no choice but to visit the healthcare facilities. Despite the pandemic, these factors have been fueling the growth of the global sepsis diagnostics market across the globe.
Global Sepsis Diagnostics Market is Dominated by Giants
The major players in the global sepsis diagnostics market are Immunexpress Inc., Response Biomedical Corp., Axis-Shield Diagnostics Ltd., Beckman Coulter, Inc, Nanosphere, Inc., Sysmex Corporation, T2 Biosystems, Inc., F. Hoffmann-LA Roche Ltd, BioMerieux SA, Bruker Corporation, EKF Diagnostics, Thermo Fisher Scientific, T2 Biosystems, Inc., Cytosorbents, Genmark Diagnostics, and other prominent players. The presence of giant industry players makes the market highly dense and concentrated. The adoption of both organic and inorganic competitive strategies by companies to exploit market opportunities is very common in this market.
Don’t miss the business opportunity of the global sepsis diagnostics market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global sepsis diagnostics market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global sepsis diagnostics market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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