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Gastrointestinal Pathogen Testing Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends
Gastrointestinal Pathogen Testing Global Market Report 2024
According to The Business Research Company's, The gastrointestinal pathogen testing market size has grown steadily in recent years. It will grow from $3.89 billion in 2023 to $4.05 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to the increased prevalence of gastrointestinal infections, growth in awareness about foodborne illnesses, globalization leading to higher travel-related infections, regulatory initiatives for food safety, rise in healthcare expenditure, and heightened demand for rapid and accurate diagnostic solutions.
The gastrointestinal pathogen testing market size is expected to see steady growth in the next few years. It will grow to $4.80 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to the increasing prevalence of gastrointestinal infections globally, growing awareness about the importance of early detection and treatment, expanding healthcare infrastructure in emerging economies, rising demand for point-of-care testing solutions, heightened focus on food safety regulations, and continuous research and development efforts. Major trends in the forecast period include rapid testing methods, growing adoption of molecular diagnostic techniques, expansion of point-of-care testing in non-traditional healthcare settings, advancements in automation and robotics for streamlined testing processes, the emergence of novel biomarkers for enhanced pathogen detection, and integration of artificial intelligence and machine learning algorithms.
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Market Drivers and Trends:
The rising incidences of foodborne disease are expected to propel the growth of the gastrointestinal pathogen testing market going forward. Foodborne diseases are illnesses caused by consuming food or beverages contaminated with pathogenic microorganisms, toxins, or chemical substances. Foodborne diseases include listeriosis, viral gastroenteritis, taeniasis, and trichinosis. The rise in foodborne incidents is due to various factors, including changes in food production, distribution, and consumption patterns, inadequate food safety measures, and climate change impacts on food production. Gastrointestinal testing helps in identifying the specific pathogens responsible for foodborne illnesses to help healthcare providers identify the cause of gastrointestinal symptoms, determine appropriate treatment, track outbreaks, and implement preventive measures to reduce the spread of foodborne diseases. For instance, in February 2024, according to the UK Health Security Agency, a UK-based government body, England and Wales reported 167 cases of listeriosis in 2022, compared to 160 cases in 2021. Therefore, the rising incidences of foodborne diseases are driving the growth of the gastrointestinal pathogen testing market.
Major companies operating in the gastrointestinal pathogen testing market are focusing on developing advanced solutions, such as metagenomic diagnostic tests, to enhance the accuracy, speed, and comprehensiveness of detecting gastrointestinal pathogens. A metagenomic diagnostic test is an advanced technology used to analyze the genetic material of microorganisms present in a sample, such as stool or blood. For instance, in April 2024, Microba Life Sciences, an Australia-based biotechnology company, introduced MetaPanel, a metagenomic diagnostic test designed to identify a wide range of gastrointestinal pathogens with unparalleled accuracy. MetaPanel covers 175 pathogen targets in a single test, offering healthcare professionals a comprehensive solution for diagnosing both common and hard-to-detect infections. It uses next-generation sequencing (NGS) technology to analyze a broad range of genetic material in a stool sample. This allows for the detection of a wide variety of potential pathogens, including those not routinely tested for in traditional GI (gastrointestinal) panels.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Abbott Laboratories, F. Hoffmann-La Roche Ltd, Becton Dickinson and Company, Hologic Inc., bioMérieux S.A., Bio-Rad Laboratories Inc., QIAGEN N.V., DiaSorin S.p.A., Cepheid Inc., OraSure Technologies Inc., BioFire Diagnostics Inc., Luminex Corporation, Meridian Bioscience Inc., Sekisui Diagnostics LLC, ELITechGroup S.A.S., Hardy Diagnostics LLC, Trinity Biotech plc, Puritan Medical Products Co. LLC, Cosmo Bio Co. Ltd., R-Biopharm AG, COPAN Diagnostics Inc., Savyon Diagnostics Ltd., ZeptoMetrix Corporation, Biomerica Inc., Pro-Lab Diagnostics
Gastrointestinal Pathogen Testing Market 2024 Key Insights:
• The gastrointestinal pathogen testing market size is expected to see steady growth in the next few years. It will grow to $4.80 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%.
• Impact Of Foodborne Diseases On The Gastrointestinal Pathogen Testing Market
• Advancements In Gastrointestinal Pathogen Testing
• North America was the largest region in the gastrointestinal pathogen testing market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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