Infectious Disease Diagnostics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Infectious Disease Diagnostics Market Analysis

The Infectious Disease Diagnostics Market size is estimated at USD 45.24 billion in 2024, and is expected to reach USD 53.68 billion by 2029, growing at a CAGR of 3.48% during the forecast period (2024-2029).

The market for Infectious Illness Diagnostics was considerably affected by the COVID-19 pandemic. The market under study benefited from the high infection rates among COVID-19 patients. For instance, in February 2022, Mylab Discovery Solutions, one of the Infectious Disease Diagnostic Companies, released CoviSwift, a point-of-care (POC) RT-PCR testing system that may be used in small labs, in-hospital labs, airports, and communities. Additionally, in March 2020, BioMedomics released PoC COVID-19 test that can detect antibodies in blood within 15 minutes. Furthermore, in March 2020, Abbott, a key player in the Molecular Diagnostics Market, introduced the RealTime SARS-CoV-2 assay, a PCR-based test for diagnosing COVID-19. As the incidence of coronavirus increased, the Infectious Disease Testing Market experienced a surge in demand during the pandemic. Additionally, many diagnostic labs and testing facilities opened, which broadened the market's potential. For instance, in June 2020, the Union Minister of Health and Family Welfare introduced India's first mobile I-Lab (Infectious Disease Diagnostic Lab) for COVID-19 testing. Hence, in the early phase, COVID-19 impacted the market considerably; however, currently, the demand for diagnostic tools for Infectious Diseases has slowed down and is expected to have stable growth during the forecast period of the study.

The rising prevalence of Infectious Diseases, the shift in emphasis from centralized laboratories to point-of-care testing (as observed in the Point of Care Infectious Disease Testing Market), and rising R&D activity on Infectious Disease Diagnostics are other important drivers of market expansion. Rapid diagnostics for the detection of diseases are evolving as a result of R&D efforts in the Molecular Diagnostics Industry, including mass spectrometry and next-generation sequencing (NGS), fueling market expansion. For instance, according to an article by Frontiers in February 2022, non-typhoidal Salmonella is a common cause of bacterial enteritis in humans. It causes almost 93.8 million cases of gastroenteritis globally each year. The increasing preference of end users for point-of-care testing is also projected to fuel market expansion. Point-of-care diagnostics offer quick, useful information for patient care where the disease is being experienced. As a result, several firms are concentrating on research and development initiatives to create solutions for the Infectious Disease Point-of-Care Diagnostics Market in developing nations. The major firms are constantly updating their product lines through introducing new goods, joint ventures with third parties, mergers, and acquisitions, all of which will contribute to the Global Infectious Disease Diagnostics Market's expansion. For instance, in December 2021, Roche launched the first Infectious Disease tests on the Cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark. Similarly, in May 2021, Torus Biosystems revealed the USD 25 million series financing to advance Infectious Diseases Diagnostics Market across healthcare settings.

Thus, factors such as the rising prevalence of Infectious Diseases and increasing initiatives by major market players are expected to drive Infectious Disease Market Growth over the forecast period. However, inadequate reimbursements and rising healthcare costs limiting the use of novel diagnostic techniques are restraining the market's growth.

Infectious Disease Diagnostics Market Trends

This section covers the major market trends shaping the Infectious Disease Diagnostics Market according to our research experts:

The Human Immunodeficiency Virus (HIV) Segment is Expected to Hold a Significant Share of the Market Over the Forecast Peiod

Infectious Disease Diagnostics Industry Segmentation

As per the scope of the report, infectious disease diagnostics involve identifying the presence of foreign antigens/organisms using diagnostic tools such as kits and devices.

The Infectious Disease Diagnostics Market is segmented by application (Bacterial Infection, Cardiovascular Infection, CNS Infections, fungal Infection, Gastrointestinal Infection, Sexually Transmitted Disease, Viral Infection, and Other Applications), product (Assays, Kits, and Reagents, Instruments, and Services and Software), technology (Polymerase Chain Reaction (PCR), Isothermal Nucleic Acid Amplification Technology (INAAT), immunodiagnostics, DNA microarray, clinical microbiology, DNA sequencing and next-generation sequencing (NGS), and other technologies), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report offers the value (in USD million) for the above segments.