Infectious Disease Diagnostics Market worth $31.5 billion by 2028

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)
The global 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. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Government initiatives, schemes, or funding that support and promote the innovation and development of the diagnostics market provide growth opportunities in the market. These financial incentives and support systems enable companies/institutes to invest in R&D, infrastructure, and the production of advanced diagnostic technologies. By facilitating access to funds, the manufacturers can push the boundaries of diagnostics, leading to breakthrough innovations in disease detection, monitoring, and personalized medicine.

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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

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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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%

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).

F. Hoffmann-La Roche Ltd. (Switzerland) held a leading position in the infectious disease diagnostics market. The company has maintained this position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa. Roche has a strong direct and indirect distribution network globally, which helps insulate its business from demand fluctuations in various geographies. The company adopts inorganic growth strategies to increase its dominance in this market. The company focuses on strategies, such as partnerships and acquisitions, to garner a larger market share. In November 2021, the company launched cobas 5800 molecular laboratory instruments used for infectious disease diagnostics.

Abbott (US) held a significant market share in the infectious disease diagnostics market. Its dominant position in this market can be credited to the robust global sales and distribution network, allowing effective product marketing across diverse countries. Additionally, Abbott has heightened its emphasis on research and development endeavors. The company's substantial investments in R&D, aimed at refining its portfolio and optimizing capital allocation strategies, contribute to its prospective growth and sustained competitiveness in the Diagnostics segment.In addition, Abbott's strategies, which involve product launches and regulatory approvals, aim to further strengthen its position in the infectious disease diagnostics market. For instance, in March 2021, the company received Emergency Use Authorization (EUA) from the FDA for a laboratory PCR assay, Alinity m Resp-4-Plex molecular assay, that detects and differentiates between SARS-COV-2, flu A, flu B, and RSV in one test.

bioMerieux (France) accounted for the third largest share of the infectious disease diagnostics market. The company has successfully positioned itself as a strong player in the infectious disease diagnostics market. The firm focuses on developing innovative products for infectious disease indications. In May 2022, the company received a CE mark for its VIDAS tests for Chikungunya virus diagnosis.

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