The Global Infectious Disease Diagnostics Market is projected to reach $47.91 billion by 2027, from a value of $25.71 billion in 2020, by registering a CAGR of 9.3% during the forecast period. Rising focus on R&D and funding, shifting focus from federal laboratories to decentralized POC testing, high awareness about disease diagnostics in developed economies, increasing government initiatives for development of proper healthcare infrastructure in emerging economies, and increasing consciousness about personalized medicine are the major factors propelling the growth of the market. However, increasing healthcare costs in developed economies coupled with lack of awareness about infectious disease diagnosis in emerging economies is hampering market growth. Moreover, rising adoption of technologically advanced visual diagnostic equipment in healthcare institutions in developing economies, introduction of cost-effective and reliable test kits, growing trend in the epidemiology, rise in demand for rapid diagnosis techniques, and increasing economies of developed and developing nations such as the U.S., Brazil, Canada, India, China led to the expansion of healthcare are creating ample opportunities across the globe.
Recent Developments
In April 2020, Abbott launched the third COVID-19 test, which is soon expected to start shipping in the U.S. The newly launched test is a serology test that is also called an antibody test that helps in identifying IgG antibody to SARS-CoV-2.
In March 2020, Becton Dickinson and Company (BD) launched a new Rapid Serology Test to detect exposure to COVID-19. The technique is a new point-of-care test that can detect antibodies in blood to confirm current or past exposure to COVID-19 in less than 15 minutes. The new test developed will be available through BD and distributed exclusively through Henry Schein, Inc. to healthcare providers throughout the U.S.
In February 2020, Bio-Rad Laboratories acquired Exact Diagnostics of Fort Worth. With the help of this acquisition, the company gained accessibility to catalog of molecular quality control products in microbiology, virology, respiratory, vector-borne, transplant and sexually transmitted infections.
In July 2019, Mesa Biotech launched respiratory syncytial virus test (RSV).This is a sample to answer, molecular respiratory syncytial virus test, which has been particularly designed for point-of-care (POC) infectious disease diagnosis.
In October 2017, Biomérieux had announced the expansion of USD 60 Million in Durham. The focus of the expansion was manufacturing BacT/ALERT blood culture bottles.
Competitive Landscape
Meridian Bioscience, Inc., Cepheid, Inc., Bio Mérieux SA, Abbott Laboratories, Alera Inc., Danaher Corporation, Mesa Biotech, Bio-Rad Laboratories, Becton Dickinson and Company (BD), F. Hoffmann-La Roche, Ltd., DiaSorin S.p.A., Siemens Healthineers, Thermo Fisher Scientific, Quidel Corporation, Hologic, Inc., PerkinElmer Inc., Luminex Corporation, Johnson & Johnson Services Inc., Trinity Biotech Plc., and Cardinal Health, Inc. are some of the major players in the global infectious disease diagnostics market.
