According to Emergen Research, the global infectious disease rapid diagnostic testing market size was USD 1,660.56 million in 2020 and is expected to reach USD 3.99 billion in 2028 and register a revenue CAGR of 12.2% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Infectious Disease Rapid Diagnostic Testing Market, By Product (Platforms, Assays), By Technology (Isothermal Nucleic Acid Amplification Technology, Enzyme Immunoassay, Real-Time PCR, Lateral Flow Immunoassay, Others), By Disease Type (Bacterial Infection, Viral Infection, Other Infections), By End-use (Hospitals & Clinics, Diagnostic Centers, Others), and By Region Forecast to 2028”
According to Emergen Research, the global infectious disease rapid diagnostic testing market size was USD 1,660.56 million in 2020 and is expected to reach USD 3.99 billion in 2028 and register a revenue CAGR of 12.2% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global infectious disease rapid diagnostic testing market is majorly driven by factors such as rising prevalence of infectious diseases, increasing burden of target diseases, growing susceptibility of the geriatric population to infectious diseases, and rapid adoption of molecular diagnostic techniques in healthcare facilities. Rapid diagnostic testing is a highly advanced diagnostic method used to detect various infectious diseases. These tests help identify the target analyte and offer accurate results faster than most other diagnostic methods.
Market revenue growth is further driven by factors including rising trend of home health care, increasing use of point-of-care (POC) diagnostic solutions, growing demand for rapid diagnostic testing solutions amid the ongoing COVID-19 pandemic, and increasing government initiatives to raise awareness of life-threatening infectious diseases, including the EVD, MERS-CoV, and the novel coronavirus and its emerging variants. Hence, increasing caseload of COVID-19 across the globe and rising public and private investments in research & development activities for more advanced infectious disease diagnostics are expected to further boost the global market revenue growth.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Viral Infection Segment Accounted for Largest Revenue Share in 2020:
Based on disease type, the global infectious disease rapid diagnostic testing market is segmented into Bacterial Infection, Viral Infection, and Other Infections. The viral infection segment was the most dominant in terms of largest revenue share in the global market in 2020. Increasing cases of the influenza virus and hospital-acquired infections (HAIs), rapid spread of the novel coronavirus and its emerging variants across the globe, increasing caseload of COVID-19, and growing availability of rapid diagnostic tests for COVID-19 amid the pandemic are major factors boosting revenue growth of this segment.
Real-Time PCR Segment to Account for Fastest Revenue CAGR:
Based on technology, the global infectious disease rapid diagnostic testing market is segmented into Isothermal Nucleic Acid Amplification Technology, Enzyme Immunoassay, Real-Time PCR, Lateral Flow Immunoassay, and Others. The real-time PCR (polymerase chain reaction) segment is projected to register the fastest revenue growth rate in the global market over the forecast period. Growing applications of the real-time PCR technology in molecular diagnostics, owing to advantages such as robust sensitivity and specificity, low contamination risk, and higher speed and efficacy than many other diagnostic techniques, are expected to drive revenue growth of this segment.
Asia Pacific Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the Asia Pacific infectious disease rapid diagnostic testing market accounted for the largest revenue share in the global market in 2020. Rapid spread of infectious diseases including the novel coronavirus infection, rising adoption of rapid diagnostic testing products & solutions for infectious diseases, increasing R&D activities for advanced infectious disease diagnostics, and rapid advancement of the region’s healthcare infrastructure – especially in developing countries including India and China – are among the primary factors driving the Asia Pacific market revenue growth.
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Major Companies in the Global Infectious Disease Rapid Diagnostic Testing Market Include:
- Abbott Laboratories
- Danaher Corporation
- BGI Group
- DiaSorin S.p.A.
- F. Hoffmann-La Roche Ltd.
- Luminex Corporation
- BioMérieux S.A.
- Hologic, Inc.
- Thermo Fisher Scientific
- Becton, Dickinson, and Company
For the purpose of this report, Emergen Research has segmented the global infectious disease rapid diagnostic testing market based on product, technology, disease type, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Platforms
- Assays
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Enzyme Immunoassay (EIA)
- Real-Time PCR (q-PCR)
- Lateral Flow Immunoassay (LFIA)
- Others
Disease Type Outlook (Revenue, USD Billion; 2018-2028)
- Bacterial Infection
- CT/NG
- HAIs
- Tuberculosis
- Others
- Viral Infection
- Hepatitis
- Influenza Virus
- HPV
- HIV-AIDS
- Others
- Other Infections
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Clinics
- Diagnostic Centers
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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