Fact.MR – A Market Research and Competitive Intelligence Provider: The global sepsis diagnostics market stood at US$ 755 Million in 2022 and is expected to reach a valuation of US$ 1,630 Million by the end of 2032.
Rise in Regulatory Approvals of Essential Diagnostic Solutions to Offer Sepsis Diagnostics US$ 1,630 Million Market Opportunity in 2032
Fact.MR – A Market Research and Competitive Intelligence Provider: The global sepsis diagnostics market stood at US$ 755 Million in 2022 and is expected to reach a valuation of US$ 1,630 Million by the end of 2032. The market is anticipated to grow at a CAGR of 8% in the forecast period from 2022 to 2032.
Rapid approvals of crucial sepsis diagnostics and treatment options by regulatory bodies, most specifically US Food and Drug Administration, has resulted in surge in sepsis diagnostic product launches. This has ultimately boosted the growth of global sepsis diagnostics market.
Moreover, The Covid-19 pandemic has contributed to the growth of the market due to rise in respiratory complications & sepsis of the lungs. Increase in hospitalizations due to Covid-19 has widened growth opportunities.
Additionally, high prevalence of sepsis in various high-income nations has led to emergence of new sepsis diagnostic providers in the market. Also, governments across the globe are actively launching campaigns and taking initiatives to drive adoption of modern sepsis diagnostic technologies.
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Besides this, rising prevalence of various hospital-acquired infections that are characterized by sepsis such as urinary tract infections, surgical site infection is anticipated to drive sepsis diagnostics market.
Moreover, as per National Center for Biotechnology Information, patients suffering from septic diseases occupy a major share of hospital usage. These factors are ultimately expected to boost the adoption of sepsis diagnostics during the forecast period.
Key Takeaways:
- The U.S. sepsis diagnostics market is expected to grow at 7.8% CAGR between 2022 and 2032.
- China sepsis diagnostics market is projected to reach a valuation of US$ 750 Million by 2032 and would grow at a CAGR of 7.7% between 2022 and 2032.
- Germany sepsis diagnostics market is expected to grow at 7% CAGR between 2022 and 2032.
- By product category, Assays and Reagents is expected to generate more than US$ 300 Million in sales by 2032.
- In the historic period (2015-2021), the global sepsis diagnostics market exhibited growth at a CAGR of 8.6%
Growth Drivers:
- Demand for high levels of precision and accuracy rates is expected to boost the growth of sepsis and diagnostics assays and reagents.
- High occurrence rates of sepsis and higher costs of stay in hospitals is expected to widen growth opportunities of sepsis diagnostics market.
- Molecular diagnostics is gaining traction due to advancement in testing technologies across the globe. Moreover, demand for quick turnaround time and accurate results is boosting the growth of sepsis molecular diagnostics.
Restraints:
- High cost of sepsis diagnostic test as compared to blood culture tests may impede growth prospects of the market. In many cases, public hospitals and scholarly research laboratories are unable to afford diagnostics tests due to funding constraints.
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Competitive Landscape:
Sepsis diagnostics market is highly fragmented. Key players in the market are expanding production capabilities and are focusing on strategic mergers and acquisitions. Moreover, many prominent players are broadening their product portfolio post clearance from regulatory bodies and government authorities.
For instance,
- In 2021, T2 Biosystems Inc, leader in the field of in vitro diagnostics, got clearance from FDA for its T2SARS-CoV-2TM Panel. These panels are the FDA-cleared assays for the detection of sepsis-causing bacterial and fungal pathogens directly from blood.
- In 2019, BACTECTM Platelet Quality Control Media earned US FDA certification to identify tainted platelet units in blood banks and microbiology laboratories. Through a culture-based technique, the technology helps lower the risk of sepsis by identifying tainted platelet donations.
Key Companies Profiled by Fact.MR
- BioMerieux SA
- Becton Dickinson and Company (BD)
- Thermo Fisher Scientific Inc.
- Abbott Laboratories Inc.
- Roche Holdings AG
More Valuable Insights on Sepsis Diagnostics Market
In its recent study, Fact.MR reveals factors influencing the growth in the global sepsis diagnostics market during the assessment period. The study also offers compelling insights into prominent drivers creating growth opportunities in the sepsis diagnostics market through detailed segmentation as follows:
By Product Type:
-
- Blood Culture Media Sepsis Diagnostics
- Sepsis Diagnostics Instruments
- Sepsis Diagnostics Assays & Reagents
By Method Type:
-
- Conventional Sepsis Diagnostics
- Automated Sepsis Diagnostics
By Pathogen Type:
-
- Gram-Negative Bacterial Sepsis Diagnostics
- Gram-Positive Bacterial Sepsis Diagnostics
- Fungal Sepsis Diagnostics
- Other Pathogens-based Sepsis Diagnostics
By Technology:
-
- Microbiology-based Sepsis Diagnostics
- Molecular Sepsis Diagnostics
- Immunoassays-based Sepsis Diagnostics
- Other Technology-based Sepsis Diagnostics
By Region:
- North America
- Latin America
- Europe
- APEJ
- Japan
- MEA
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Key Questions Covered in the Sepsis diagnostics Market Report
- What is the valuation for sepsis diagnostics market in 2021?
- At what CAGR did the sepsis diagnostics market thrive between 2015-2021?
- What is the projected valuation for sepsis diagnostics market by 2032?
- By component, which segment will have maximum gains during the forecast period?
- What is the projected growth perspective for the U.S. sepsis diagnostics market?
- What is the growth perspective for the Japan and Korea sepsis diagnostics market?
- What will be the market value of China in global sepsis diagnostics market?
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