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Enteric Disease Testing Market Report 2024 - Enteric Disease Testing Market Demand, Forecast, And Segments
Enteric Disease Testing Market
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According to The Business Research Company's, The enteric disease testing market size has grown strongly in recent years. It will grow from $4.33 billion in 2023 to $4.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to water and food safety concerns, increased outbreaks and epidemics, globalization of food supply, increased travel-related infections, regulatory standards.
The enteric disease testing market size is expected to see strong growth in the next few years. It will grow to $5.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to integration of telemedicine and remote monitoring, climate change effects, cross-sector collaboration, antimicrobial resistance, emerging enteric pathogens. Major trends in the forecast period include molecular diagnostics, digital health integration, ai and machine learning, adoption of syndromic testing, point-of-care testing.
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Market Drivers and Trends:
The increasing cases of diarrhea and hemolytic urea syndrome (HUS) are expected to propel the growth of the enteric disease testing market going forward. The major cause of diarrhea disease cases is the consumption of contaminated food and water. The disorder hemolytic urea syndrome (HUS) affects the blood and blood vessels and is most common in children with diarrhea. Diarrheal disease and HUS are among the leading causes of death in children under five. The increasing cases of diarrhea and hemolytic will need testing solutions, raising the demand for enteric disease testing solutions. For instance, according to the Centers for Disease Control and Prevention, diarrhea is the second greatest cause of mortality among children under the age of 5, 801 thousand worldwide, accounting for one out of every nine child deaths every year. Thus, the increasing incidences of enteric diseases will drive the growth of the enteric disease testing market.
The opening of new laboratories by companies for providing food-testing services is emerging as a key trend in the enteric disease testing market. Major companies operating in the enteric disease testing market are focused on opening new laboratories to provide food testing services. For instance, in June 2021, SGS Group, a Switzerland-based company that provides verification, testing, inspection, and certification services, announced the opening of NATA ISO17025 Accredited Laboratory, the latest addition to the SGS group which offers internationally recognized quality testing to the food manufacturing, retail market, and hospitality segments.
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Major Key Players of the Market:
Becton Dickinson and Company, Biomerica Inc., bioMérieux SA, Bio-Rad Laboratories Inc., Cepheid Inc., Coris Bioconcept, DiaSorin Molecular LLC, MMeridian Life Science Inc., Quest Consumer Inc., Trinity Biotech plc., Abbott Laboratories, GlaxoSmithKline Plc., Sanofi India Limited., Bayer HealthCare Pharmaceuticals LLC, Fisher Scientific Inc., Bio Rad Laboratories Pvt Ltd., Alere Inc., 3M Company., ALS Limited, Asure Quality, Bureau Veritas, Meridian Bioscience Inc., Hologic Inc., Luminex Corporation, Nanosphere Inc., Quidel Corporation, Roche Diagnostics, Siemens Healthcare Diagnostics Inc., Vela Diagnostics, GenMark Diagnostics, Illumina Inc., BioFire Diagnostics LLC, Veredus Laboratories Pte Ltd.
Enteric Disease Testing Market 2024 Key Insights:
• The enteric disease testing market size is expected to see strong growth in the next few years. It will grow to $5.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• The Increasing Cases Of Diarrhea And Hemolytic Urea Syndrome (HUS) Driving Growth In The Enteric Disease Testing Market
• Companies Opening New Food Testing Laboratories In The Enteric Disease Testing Market
• North America was the largest region in the enteric disease 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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