Global Enteric Disease Testing Market to Expand at 2.40% CAGR from 2013 to 2019 owing to Increasing Demand for Rapid Diagnosis

The competitive landscape of the global enteric diseases testing market is highly fragmented with a typical Pareto distribution, reports Transparency Market Research (TMR) in a new study. The market is characterized by a large number of local players with only a few multinational companies. Some of the key players in the global enteric diseases testing market are Alere, Cepheid, Biomerica, DiaSorin, and Meridian Bioscience.

Get Free Sample Research Report: http://bit.ly/2c7TjGh

“The large players adopt strategies of lowering the prices of their products because only bulk manufacturing will ensure a marginal profit. However, the new entrants and small players are unable to cope up with this strategy due to cost pressures,” says the author of the report. The large capital investment in the global enteric diseases testing market can only be borne by the existing key vendors in the market, thereby posing a huge entry barrier to the new entrants. This is likely to keep the competitive pricing rivalry high in the market. The global enteric diseases testing market was valued at US$3.23 bn in 2015 and is anticipated to reach US$3.55 bn by 2019, progressing at a positive CAGR of 2.4% between 2013 and 2019.

Rising Incidence of Deaths Due to Late Diagnosis to Increase Demand for Enteric Disease Testing

The rising number of deaths due to undiagnosed and late diagnosed diseases is proving to be a public healthcare burden for many countries. The problem calls for early detection using enzyme immunoassay (EIA) and PCR-based tests and dipstick-based tests. Thus, the growing demand for rapid diagnostic tests is driving the growth of the global enteric disease testing market.

“The economic conditions, inadequate laboratory settings, and lack of awareness make for a large pool of patients in developing countries with no access to basic diagnostic facilities,” says a TMR analyst. The untapped market in developing countries provides enormous growth opportunities to the global enteric diseases testing market. Another factor boosting the growth of the global enteric diseases testing market is the rising application of molecular diagnostics due to its accurate and specific diagnosis.

Lack of Awareness to Keep Enteric Diseases Testing Away from Rapid Growth

The prevalence of enteric diseases is high in developing regions such as Africa, Asia Pacific, and Latin America. The low literacy levels in these regions is likely to deter the uptake of enteric disease testing. The lack of awareness about enteric diseases is anticipated to be a significant restraint in developing regions. However, the continuously improving healthcare facilities in developing regions is anticipated to give a push to the global enteric diseases testing market.

Moreover, the mild and asymptotic symptoms of enteric diseases can delay diagnosis, which is considered as one of the factors impeding the growth of the global enteric disease testing market.

Growing Prevalence of Enteric Diseases to Make Latin America a Lucrative Market

Based on geography, the global enteric diseases testing market is segmented into Africa, Asia-Pacific, Europe, Latin America, North America, and Rest of the World (RoW). North America is the leading regional segment and is anticipated to retain its leadership till the end of 2019. The segment was valued at US$966.1 mn in 2015 and is expected to reach US$1,009.4 mn by the end of 2019. However, due to a high prevalence of enteric diseases and progressive healthcare infrastructure, Latin America will be the fastest growing region by revenue and is expected to account for a share of 11.2% in the global enteric diseases testing market in 2019.

Browse Research Report: http://bit.ly/2cYHE1j

In terms of disease type, the Giardiasis segment is estimated to maintain the leadership by revenue till 2019. However, the Cholera segment will register highest growth rate owing to rise in Cholera cases in recent years due to resistant vibrio strains of bacteria.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact Us

Transparency Market Research
State Tower,
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.