Infectious Disease Diagnostics Market Worth $31.5 Billion | MarketsandMarkets

Infectious Disease Diagnostics Market in terms of revenue was estimated to be worth $21.4 billion in 2023 and is poised to reach $31.5 billion by 2028, growing at a CAGR of 8.0% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark
Infectious Disease Diagnostics Market [https://www.marketsandmarkets.com/Market-Reports/infectious-disease-diagnostics-market-116764589.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $21.4 billion in 2023 and is poised to reach $31.5 billion by 2028, growing at a CAGR of 8.0% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark . Market growth is largely driven by the rising prevalence of infectious diseases and the increasing funding for R&D in disease diagnostics. The rising incidence of infectious diseases worldwide creates a substantial demand for effective diagnostic tools. As the global healthcare landscape grapples with the challenges posed by infectious agents, there is a heightened emphasis on developing advanced diagnostic technologies to enable timely and accurate detection.

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In 2022, the reagents, kits, and consumables segment held the largest share of the infectious disease diagnostics market by product & service segment.

The infectious disease diagnostics market is segmented into reagents, kits, and consumables; instruments; and software & services based on product & service. The reagents, kits, and consumables segment dominated the infectious disease diagnostics market in 2022. The requirement of reagents, kits, and consumables in large numbers compared to instruments is the main factor contributing to the large share of this segment. Unlike instruments, reagents, kits, and consumables require repeat purchases, which results in stable demand among end users.

The blood, serum, and plasma segment held the largest share of the infectious disease diagnostics market by sample type segment in 2022.

Based on sample type, the infectious disease diagnostics market has been segmented into blood, serum, and plasma, urine, and other sample types. In 2022, the blood, serum, and plasma segment accounted for the largest share of the infectious disease diagnostics market, by sample type. These sample types provide a rich and diverse pool of infectious disease diagnostic information. They contain circulating DNA, RNA, proteins, and other biomarkers that carry valuable insights into various diseases and conditions. This wealth of information enables healthcare professionals to make accurate diagnoses, monitor disease progression, and personalize treatment decisions.

North America is the largest regional market for infectious disease diagnostics market.

The market for infectious disease diagnostics has been divided into five key geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America held the predominant portion of the infectious disease diagnostics market. The infectious disease diagnostics market in North America is well-established, with the US being a major market in this region. This dominance can be attributed to various factors, including advanced healthcare infrastructure, a high prevalence of infectious diseases, and significant investments in diagnostic technologies.

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Infectious Disease Diagnostics Market Dynamics:

Drivers:

* Rising prevalence of infectious diseases

Restraints:

* Unfavorable reimbursement scenario

Opportunities:

* Increased growth opportunities in emerging economies

Challenge:

* Operational barriers and shortage of skilled laboratory technicians

Key Market Players of Infectious Disease Diagnostics Industry:

The major players operating in this market are Abbott (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), bioMerieux (France), Siemens Healthineers AG (Germany), Danaher (US), Hologic, Inc. (US), Becton, Dickinson and Company (US), Revvity (US), QIAGEN (Netherlands), Seegene Inc. (South Korea), Grifols, S.A. (Spain), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), Sysmex Corporation (Japan), QuidelOrtho Corporation (US), Meridian Bioscience (US), Genetic Signatures Ltd. (Australia), OraSure Technologies (US), Trinity Biotech (Ireland), Chembio Diagnostics, Inc. (US), Co-Diagnostics, Inc. (US), ELITech Group (France), Epitope Diagnostics, Inc. (US), Trivitron Healthcare (India), Meril Life Sciences Pvt. Ltd. (India), InBios International, Inc. (US), Vela Diagnostics (Singapore), and Uniogen Oy (Finland).

The break-up of the profile of primary participants in the infectious disease diagnostics market:

* By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
* By Designation: C-level - 27%, D-level - 18%, and Others - 55%
* By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America - 6%, and Middle East & Africa- 4%

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