The executive summary offers information on the global CAGR, key driving factors, restraints, and leading companies in this market. The succeeding sections of the report offer detailed information on the basis of key segments and regions.
Albany, NY -- (SBWIRE) -- 10/11/2017 -- The global enteric testing market continues to be characterized on the lines of Pareto principle – a large number of players in the market account for only a small revenue share, whereas the behemoths account for the bulk of revenues. The global enteric testing market is projected to grow at a CAGR of 3.6% and reach US$ 5 bn in revenues. These insights are according to a new research added to the repository of Market Research Reports Search Engine (MRRSE). The report titled "Enteric Disease Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017 – 2025" is a comprehensive source of information for stakeholders looking to get valuable insights into this market.
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The report commences with an executive summary that offers readers brief information on the entire report. The executive summary offers information on the global CAGR, key driving factors, restraints, and leading companies in this market. The succeeding sections of the report offer detailed information on the basis of key segments and regions. A detailed competition landscape gives readers insights into the leading and new entrants in this market.
According to the report, leading players are able to consolidate their position in the market owing to bulk production at low pricing. However, new entrants, who have limited inventory and relatively weaker distribution channels are not able to adopt a similar strategy. On account of this, the market remains heavily dominated by a handful of players.
Use of enteric disease testing is growing on account of growing emphasis on early diagnosis to treat many life-threatening disease. In both developed and developing countries, the focus has shifted to prevention rather than cure, due to which healthcare professionals heavily rely on testing procedures before they prescribe over-the-counter medicines. These factors are positively influencing the growth of the enteric disease market globally.
Although the forecast on enteric disease testing remains positive, challenges abound for the growth of this market. According to research, lack of awareness, combined with restraints with healthcare budgets have meant that these testing procedures are limited to the private sector.
In a bid to give detailed insights on the global enteric disease testing market, the report has been segmented on the basis of Based on disease indication, bacterial enteric diseases accounted for approximately 58.5% of the global enteric disease testing market in 2016. Product developments that enable smooth and fast procedures for both physicians and patients and the growing incidence of diseases associated with E. coli and C. difficile are expected to fuel the growth of the bacterial enteric disease segment. The parasitic enteric disease segment is the second leading revenue generator for the global enteric disease testing market. In developed regions, frequent traveling to developing nations has become a major factor driving the segment's growth.
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Failure to Capitalize on High Potential of Asia Pacific Market could Cost Enteric Disease Testing Market Players
By geography, the global enteric disease testing market has been divided into five major regions: North America, Europe, Asia, Latin America, and the Middle East and Africa. North America and Europe accounted for the highest share of the global enteric disease testing market in 2017, followed by Asia Pacific, Latin America, and the Middle East and Africa. The U.S. dominated the enteric disease testing market in North America, accounting for around 94.0% of the latter in 2016. This dominance is majorly due factors such as high costs of products and high level of consumer awareness. The enteric disease testing market was valued at more than US$1 bn in both North America and Europe in 2017 and is likely to rise to more than US$1.4 bn by 2025, with Europe leading the way with a robust 4.7% CAGR.
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