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Candida Infection Testing Market Statistics, Size And Share Analysis Report Forecast 2024 To 2033
Candida Infection Testing Market Statistics
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According to The Business Research Company's, The candida infection testing market size has grown strongly in recent years. It will grow from $14.78 billion in 2023 to $15.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to the rising incidence of candida infections, growing awareness and diagnostics, expansion of healthcare infrastructure, rise in hospital-acquired infections, and increasing funding for research.
The candida infection testing market size is expected to see strong growth in the next few years. It will grow to $20.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to the emergence of new candida strains, rising awareness of fungal infections, expansion of healthcare access, aging population, rising awareness and preventive healthcare. Major trends in the forecast period include advancements in molecular diagnostics, integration of digital health technologies, integration of AI, integration of machine learning, and personalized medicine.
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Market Drivers and Trends:
The increasing incidence of yeast infections is expected to propel the growth of the candida infection testing market going forward. Yeast infections refer to fungal infections caused by the overgrowth of candida, commonly affecting areas such as the mouth, genitals, and skin, and often resulting in itching, redness, and discomfort. Yeast infections are primarily caused by an overgrowth of the fungus candida, often due to imbalances in the body's natural bacteria, weakened immune systems, or hormonal changes. Candida infection testing is used in yeast infections to accurately diagnose the presence of candida overgrowth, helping healthcare providers confirm the infection and guide appropriate treatment. For instance, in September 2023, according to GOV.UK, a UK-based government agency, in 2022, the rate of bloodstream infections (BSI) caused by yeast in England was 4.0 per 100,000 population, marking a 4% increase compared to 2021. Therefore, the increasing incidence of yeast infections will drive the growth of the candida infection testing market.
Major companies operating in the candida infection testing market are focusing on developing technologically innovative solutions, such as a fully automated PCR rapid test for detecting candida, to enhance diagnostic accuracy and improve patient outcomes. A fully automated PCR rapid test for detecting candida refers to a high-tech diagnostic tool that uses polymerase chain reaction (PCR) technology to quickly and accurately identify the presence of Candida species in clinical samples. For instance, in May 2024, Bosch Healthcare Solutions GmbH, a Germany-based medical technology manufacturer, launched a PCR test for candida auris detection on the Vivalytic platform, offering fully automated, rapid testing within an hour at the point of care. This advanced test allows for prompt screenings and contrasts sharply with traditional culture methods, which take one to three days in centralized labs, thus delaying diagnosis and treatment. Designed for clinical settings, the test is particularly beneficial for high-risk patients, enabling timely diagnosis and treatment to combat the serious health risks associated with C. auris infections.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers AG, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Hologic Inc., bioMérieux SA, Bio-Rad Laboratories Inc., Bruker Corporation, QIAGEN N.V., Cepheid, Randox Laboratories Ltd., Meridian Bioscience Inc., DiaSorin S.p.A., Sekisui Diagnostics LLC, Enzo Biochem Inc., T2 Biosystems Inc., Aidian Oy, SafeCare LLC, CHROMagar, HK Biotek Inc., Health Testing Centers LLC, Accesa Labs LLC, Private MD Labs LLC
Candida Infection Testing Market 2024 Key Insights:
• The candida infection testing market size is expected to see strong growth in the next few years. It will grow to $20.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Rising Yeast Infection Rates Drive Growth In Candida Testing Market
• Technological Innovations In Candida Infection Testing
• North America was the largest region in the candida infection testing market in 2023
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