Infectious Disease Diagnostics Market to Grow by USD 13.94 Bn, 37% of Market Growth to Originate from North America – Technavio – QNT Press Release

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NEW YORK, Nov. 2, 2022 /PRNewswire/ — The infectious disease diagnostics market size is expected to grow by USD 13.94 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 6.7% during the forecast period. The market has been segmented by end-user (hospitals and labs) and geography (North America, Europe, Asiaand Rest of the World (ROW)).

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Infectious Disease Diagnostics Market: Segmentation Analysis

By geography, North America will lead the thermostatic radiator valve market during the forecast period. The region will account for 37% of the market’s growth. The increase in the prevalence of infectious diseases, such as AIDS, TB, meningitis, influenza, and pneumonia will facilitate the infectious disease diagnostics market growth in North America over the forecast period.

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By end-user, the hospital segment will be the largest contributor to market growth during the forecast period. The growth is attributed to the increase in the number of patients suffering from different types of diseases, such as AIDS, tuberculosis (TB) meningitis, and COVID-19, globally. The growing presence of the large-, medium-, and small-sized hospitals that procure medical products, including infectious disease diagnostic instruments, in bulk from suppliers and group purchasing organizations (GPOs) will further boost the market growth.

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Infectious Disease Diagnostics Market: Driver and Trend

One of the key factors driving the global infectious disease diagnostics market growth is the increasing prevalence of infectious diseases. The outbreaks of infectious diseases have increased due to changing lifestyles, which result in reduced immunity. The pattern of infection incidence has also been changing with the evolution of drug-resistant pathogens. As per the Joint United Nations Programme on HIV/AIDS data of 2020, 680,000 people died from AIDS-related illnesses across the world. The rise in the prevalence of infectious diseases is expected to drive the growth of the market in focus during the forecast period.

An increase in M&A is one of the key infectious disease diagnostics market trends that is expected to impact the industry positively in the forecast period. The vendors operating in the market are focusing on pursuing inorganic growth to tap into rapidly growing markets, such as India, Brazil, Chinaand South Africa.In August 2021Sanofi SA acquired Translate Bio Inc., a clinical-stage mRNA therapeutics company, for over $3 billion. A rise in M&A activities across the globe is anticipated to boost the growth of the market in the forecast years.

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