The global tuberculosis diagnostics market is expected to reach a market size of USD 3.58 Billion by 2027 and register a high revenue growth rate during the forecast period, according to a new report by Reports and Data. Growing incidence of tuberculosis is a major factor driving growth of the tuberculosis diagnostics market.
According to the World Health Organization (WHO), every year, 8.8 million new cases of tuberculosis are found and approximately 2 million deaths are caused by the disease. Resistance to multiple drugs among patients suffering from tuberculosis is another key point of concern.
Rise in initiatives by governments and independent organizations to control the spread of tuberculosis is also contributing to growth of the global tuberculosis diagnostics market. Various organizations are trying to create awareness regarding the infectious disease, especially in underdeveloped countries, to limit the disease spread. over the years due to rapid and reliable results. This limits growth of the global tuberculosis diagnostics market.
The COVID-19 Impact:
The global tuberculosis diagnostics market witnessed slowdown during the COVID-19 pandemic. The disease affected the entire world and public as well as private organizations were focused on development of testing kits for COVID-19 only. This led to significant shortage in supply of tuberculosis diagnostic kits. However, with the pandemic under control to a certain extent, public as well as private organizations have started focusing on other diseases as well, including tuberculosis.
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Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma healthcare industry is the rapid integration of artificial intelligence in key areas such as RD, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.
Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered. The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Tuberculosis Diagnostics market.
Further Key Findings from the Report Suggest
- Latent tuberculosis is not contagious, unlike active tuberculosis. Countries with high prevalence of tuberculosis have a higher percentage of latent tuberculosis patients. The need to test latent tuberculosis drives demand for tuberculosis diagnostics. This factor in turn boosts market growth.
- Nucleic acid testing of tuberculosis provides a higher level of accuracy. Developed regions have high demand for nucleic acid testing. Advancements in for Tuberculosis diagnostic and rise in commercialization of nucleic acid testing are factors driving growth of the segment.
- The hospitals end-use segment accounted for the largest revenue share in the global tuberculosis diagnostics market in 2019. The large number of admissions of tuberculosis patients in hospitals is fueling growth of the hospitals segment.
- The Asia Pacific market accounted for the largest revenue share in the global tuberculosis diagnostics market in 2019, owing to increase in healthcare budgets by governments of developing economies in the region, including India.
- Key participants include Alere Inc., F.Hoffmann-La Roche AG, Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Siemens, Hologic Corporation, Cepheid, Hain Lifesciences GmbH, and Thermo Fisher Scientific Inc.
For the purpose of this report, Reports and Data has segmented the global tuberculosis diagnostics market on the basis of disease stage, test type, end-use, and region:
Disease Stage Outlook (Revenue, USD Billion; 2017-2027)
- Latent Tuberculosis
- Active Tuberculosis
Test Type Outlook (Revenue, USD Billion; 2017-2027)
- Radiographic Method
- Cytokine Detection Assay
- Nucleic Acid Testing
- Detection of Latent Infection
- Diagnostic Laboratory Method
- Detection of Drug Resistance
End-use Outlook (Revenue, USD Billion; 2017-2027)
- Research Institutes Academics
- Reference Laboratories
Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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