Hyderabad, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The demand for infectious disease diagnostics increased significantly with the outbreak of the COVID-19 pandemic. The pandemic led to the introduction of various innovative infectious disease diagnostics in the market. New innovations such as over-the-counter infectious disease tests, and mass spectrometry-based detection to identify individuals infected with severe COVID-19 have paved the market growth. Such innovation is expected to positively impact the market and this trend will continue to grow at a CAGR of 3.79% during 2022-2027.
In addition, the researchers are conducting various research and studies to eliminate the drawbacks of the existing infectious disease diagnostic methods with new innovative solutions. The key players are also trying to incorporate new trending technologies into existing products for better outcomes. The researchers are aiming to implement POC pathogen detection and the use of artificial intelligence (AI) and machine learning (ML) in the diagnosis of infectious diseases in the upcoming years. Such innovations may help the market to maintain an upward trend over the forecast period.
In 2021, North America was the largest market and accounted for 45.4% of the global infectious disease diagnostics market. The U.S., the UK, France, Germany, and Japan constitute the largest infectious disease diagnostics markets. However, countries such as India, South Africa, and Australia have a high prevalence of infectious diseases, and conduct large number of research and development activities, which may help these countries emerge as leading countries for the market in the upcoming years.
“As we step into the future, Human Immunodeficiency Virus (HIV) segment is expected to emerge as the leading segment for the market. The increasing prevalence of HIV across the globe is one of the major drivers for the segment. The researchers are also making efforts for introducing rapid and effective diagnostic tools for HIV which can help the segment to grow further in the upcoming years. Furthermore, rising awareness among people toward the treatment of HIV may also augment segment growth. In September 2022, an HIV awareness campaign was conducted in Andhra Pradesh, India with the aim to make Andhra Pradesh, AIDS-free. Such an intense campaign is expected to create mass awareness which may further propel the market growth over the forecast period.”
Analyst says that the need for rapid and accurate detection has mainly increased due to the high mortality from infectious disease. The late detection of diseases is the major reason for increasing the high mortality rate. Tuberculosis is one of the most severe infectious diseases globally leading to around 1.2 million deaths per year. Thus, early, and accurate detection of such diseases may be the key to reducing the mortality burden and hence the researcher are focusing on such solutions. As infectious diseases are becoming one of the major concerns across the globe, researchers are coming up with new innovative solutions that may help the market to grow in the upcoming years. The point-of-care testing, high-throughput omics technologies, and microfluidic are some of the innovative technologies that can revolutionize infectious disease diagnosis.
This will create scope for new and existing players to grab growth opportunities in infectious disease diagnosis, STD diagnosis, molecular diagnosis, and a few more niche areas.
The large investments by both private and public sectors are expected to create new opportunities for the market. In June 2022, the United States announced USD 122.0 million in funds for India to address challenges posed by infectious diseases. This funding will accelerate the research work in India related to infectious diseases and thereby will help to reduce the burden of diseases in the country. The new innovative product launch by the key players has also positively impacted the market. In December 2021, Roche launched the first infectious disease tests and cobas omni Utility Channel for use on the cobas 5800 System in countries accepting the CE Mark. The launch of the cobas omni Utility Channel enables laboratory professionals the flexibility of running CE-IVD assays, as well as designing their own laboratory-developed tests (LDTs). Such positive developments may help the market to maintain the high growth rate and are expected to continue the same over the forecast period.
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