The global infectious diseases in-vitro diagnostics market is expected to reach a market size of USD 26.54 Billion by 2027, and register a high CAGR during the forecast period, according to a new report by Reports and Data. Consistent and high investments in research and development, and rising awareness is among some of the key factors driving market growth. Rising prevalence of chronic diseases and ailments, along with increasing geriatric population, are propelling revenue growth of the infectious diseases in-vitro diagnostics market currently, and this trend is expected to continue over the forecast period.
Increase in number of surgical procedures being performed globally is also projected to boost market growth. Growing prevalence of infectious diseases such as Respiratory Virus, TB and Drug-resistant TB, HIV, Hepatitis C, and Hepatitis B is creating a rising need for more effective treatment or therapy, which is positively contributing to market growth. Additionally, governmental bodies such as CEA, CDC, and FDA have listed guidelines and safety measures that are expected to continue to support growth of the market.
The COVID-19 impact:
The outbreak of the COVID-19 virus has resulted in a major demand for diagnostic kits. Market growth has increased significantly in recent months due to a rapid surge in demand for diagnostic kits in COVID-19 detection tests. The high demand is mainly due to the emergency launch of testing kits along with ongoing developments. According to The Rockefeller Foundation, around 70 million POC (Point of Care) tests a month were conducted in the United States by the end of October 2020. The number is expected to increase to approximately 200 million a month by January 2021.
In-depth Study of the Competitive Landscape:
The global Infectious Diseases In Vitro Diagnostics market consists of various market players, which makes this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers acquisitions, joint ventures, collaborations, partnerships, and agreements, to build on their market presence.
Top companies profiled in the report include:
Abbott, Quidel Corporation, bioMérieux SA, Alere Inc., F. Hoffmann-La Roche Ltd., Cepheid, Orasure Technologies, Inc., Qiagen N.V., Becton, Dickinson and Company, and Bio-Rad Laboratories, Inc., among others.
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Product Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Molecular Diagnostics
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Point of Care
- Central Laboratories
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Infectious Diseases In Vitro Diagnostics market over the forecast period?
- What are the major factors driving the growth of the Global Infectious Diseases In Vitro Diagnostics Market?
- What are the key challenges impacting the global Infectious Diseases In Vitro Diagnostics market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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