Northrook, IL -- (SBWIRE) -- 07/13/2020 -- According to the new market research report "Infectious Disease Diagnostics Market by Product & Service (Assay, Kit & Reagent, Instruments), Disease Type (Hepatitis, HIV, HAI, HPV, TB, Influenza), Technology (Immunodiagnostics, PCR, NGS), End User (Hospital, Research Institute) - Global Forecast" published by MarketsandMarkets™, projected to reach USD 19.35 Billion, at a CAGR of 5.6% during the forecast period.

Market Dynamics:

Opportunity: Growing awareness about personalized medicine;

Growing patient awareness about the benefits of personalized medicine is one of the key factors resulting in the increased use of molecular diagnostics and genomics & proteomics technologies in infectious disease testing. Diagnostic tests can be used to assess the efficacy of specific therapeutic agents in particular patients. With the help of diagnostic tests, patients who suffer disproportionately severe adverse effects from a given treatment or dosage can be identified. Moreover, diagnostic tests help in determining the optimal dosages for drugs whose therapeutic effects are known to vary widely among different patient groups. The extent or progression of a disease and preventive measures can be identified in patients through diagnostic tests. With the growing demand for personalized medicine, the demand for such diagnostic tests is expected to increase globally.

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Based on technology, the immunodiagnostics segment accounted for the largest share of the market in 2018

On the basis of technology, the market is broadly segmented into immunodiagnostics, clinical microbiology, PCR, INAAT, DNA sequencing & NGS, DNA microarrays, and others. The immunodiagnostics segment accounted for the largest share of the global infectious disease diagnostics market in 2018. This dominant share is attributed to the increasing use of immunoassays in POC infectious disease testing, development of novel tests, rising trend of automation, and increasing awareness about health and fitness.

Based on end user, the hospital/clinical laboratories segment accounted for the largest share of the market in 2018

On the basis end user, the market is broadly segmented into hospitals/clinical laboratories, reference laboratories, physician offices, academic institutes, and other end users. The hospitals/clinical laboratories segment is projected to register the highest CAGR during the forecast period. The growth of this segment can primarily be attributed to the large number of diagnostic tests carried out in hospitals.

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In 2018, North America accounted for the largest share of the global infectious disease diagnostics market. This largest share is attributed to the presence of a highly developed healthcare system, increasing prevalence of infectious diseases, the presence of a large number of leading national clinical laboratories, and easy accessibility to technologically advanced instruments in the region.

The key players in the global infectious disease diagnostics market are Abbott (US), Becton, Dickinson and Company (BD) (US), bioMérieux (France), Bio-Rad (US), and Roche (Switzerland).