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Impact Of Rising Respiratory Infections On The Infectious Disease Diagnostic Testing Market: Powering Innovation and Expansion in the Infectious Disease Diagnostics Testing Market by 2025
Infectious Disease Diagnostics Testing Market
What Is the Expected CAGR for the Infectious Disease Diagnostics Testing Market Through 2025?
The market size for diagnostic testing in infectious diseases has witnessed substantial growth recently. It is projected that this market will increase from a value of $38.52 billion in 2024 to approximately $42.24 billion in 2025, a compound annual growth rate (CAGR) of 9.7%. The phenomenal historical growth can be traced back to numerous disease outbreaks such as SARS, Ebola and Zika. Awareness surrounding early disease detection and disease prevention among both healthcare personnel and general public, alongside increase in programs funded by government for the surveillance, control and prevention of diseases have contributed to this growth. Additionally, global travel and trade, which have enabled the dissemination of these diseases, along with enhanced healthcare expenditure, particularly in emerging economies, have propelled this market expansion.
What's the Projected Size of the Global Infectious Disease Diagnostics Testing Market by 2029?
The market for infectious disease diagnostic tests is predicted to experience significant growth in the upcoming years, reaching $60.71 billion in 2029 with a compound annual growth rate of 9.5%. The forecast period's growth can be tied to several factors, including the continuous discovery of new pathogens like influenza strains or COVID-19 variants, the inclination towards personalized medicine and targeted therapies, a rising demand for swift and local testing solutions, an increased focus on epidemiological monitoring and early detection systems, and heightened research and development efforts centered on innovating diagnostic technologies and biomarkers. Some key trends for the forecast period include the downsizing and mobility of diagnostic tools, the endorsement of multiplex tests capable of identifying multiple pathogens at once, the integration of digital health services such as mobile applications and telemedicine platforms, the use of next-generation sequencing (NGS) technologies in diagnosing infectious diseases, progress in biosensor technologies enabling quick and sensitive identification of infectious pathogens, and the incorporation of artificial intelligence and machine learning algorithms into diagnostic platforms.
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Top Growth Drivers in the Infectious Disease Diagnostics Testing Industry: What's Accelerating the Market?
The expected surge in respiratory infections is anticipated to fuel the expansion of the infectious disease diagnostic testing market. The increase in respiratory infections, which impact the respiratory system - encompassing the nose, throat, airways, and lungs, is majorly attributed to virus and bacteria spread via close contact with affected individuals, inadequate sanitation habits, overpopulated living conditions, and alterations in weather patterns in line with seasonality. Performing diagnostic testing for infectious diseases is indispensable for the diagnosis and treatment of these respiratory infections since it can accurately detect pathogens such as bacteria and viruses present in patient samples. For instance, data provided by the Canadian Institute for Health Information, a non-profit organization based in Canada, stated that there was a 32% ascend in hospitalizations for acute upper respiratory infections from 2,114 cases in 2022 to 2,797 cases in 2023 noted in February 2024. Consequently, the surge in respiratory infections is spurring the growth of the infectious disease diagnostic testing market.
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What Long-Term Trends Will Define the Future of the Infectious Disease Diagnostics Testing Market?
Prominent businesses that compete in the infectious disease diagnostic testing market are currently concentrating on the creation of novel technologies, including molecular diagnostics platforms, to maintain their market standing. Molecular diagnostics platforms are intricate systems made to identify and examine nucleic acids (DNA or RNA) in biological samples for diagnosis. For example, Becton dic*kinson, and Company, a medical technology firm situated in the US, introduced the BD COR System, a fully automatic, high-capacity infectious disease molecular diagnostic platform, in May 2022. This platform automates and integrates the whole molecular lab process from sample handling to diagnosis, removing the need for manual specimen sorting and allowing lab technicians to focus on more significant tasks. Capable of processing up to 1,700 specimens and delivering results within a day, the system boasts high-throughput abilities and advanced genotyping for diseases like HPV and STIs.
What Are the Main Segments in the Infectious Disease Diagnostics Testing Market?
The infectious disease diagnostics testing market covered in this report is segmented -
1) By Type: Molecular Diagnostic Test, Point Of Care Tests (POCT) Infectious Disease Diagnostics Test
2) By Application: Respiratory, Human Immunodeficiency Virus (HIV), Healthcare-Associated Infections (HAIs), Sexual Health, Tropical Diseases, Liver
3) By End-User: Diagnostic Laboratories, Hospitals And Clinics, Academic Research Institutes, Other End-Users
Subsegments:
1) By Molecular Diagnostic Test: Polymerase Chain Reaction (PCR) Tests, Nucleic Acid Amplification Tests (NAATs), Next-Generation Sequencing (NGS), Microarray-Based Tests
2) By Point Of Care Tests (POCT) Infectious Disease Diagnostics Test: Lateral Flow Assays, Rapid Antigen Tests, Immunoassays, Portable PCR
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Which Top Companies are Driving Growth in the Infectious Disease Diagnostics Testing Market?
Major companies operating in the infectious disease diagnostics testing market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton dic*kinson And Company, Quest Diagnostics Incorporated, Grifols S.A., Hologic Inc., PerkinElmer Inc., bioMérieux SA, Quidel Corporation, Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., DiaSorin SpA (Luminex), Myriad Genetics Inc., Seegene Inc., Ortho Clinical Diagnostics Inc., OraSure Technologies Inc., Meridian Bioscience Inc., Trinity Biotech PLC, Biodesix Inc., Helix OpCo LLC, Inovio Pharmaceuticals Inc.
Which Regions Will Dominate the Infectious Disease Diagnostics Testing Market Through 2029?
North America was the largest region in the infectious disease diagnostics testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the infectious disease diagnostics testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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