Dallas, TX -- (SBWIRE) -- 09/28/2018 -- The global tuberculosis diagnostics market is expected to register a CAGR of nearly 4.5%, during the forecast period of 2018-2023. Although tuberculosis is a curable disease, it still remains one of the most common causes of death among adults, particularly in the emerging economies. The rising burden of tuberculosis and technological advancements play a crucial role in the growth of the market studied. Owing to the presence of a large, diversified patient population, rising prevalence of tuberculosis, and increasing healthcare infrastructure with an expanding private sector, Asia-Pacific has captured the largest market share.

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Rising Burden of Tuberculosis and Multi-drug Resistant Tuberculosis (MDR TB)

According to the World Health Organization (WHO), about 10 million people are affected by tuberculosis, each year. Further, tuberculosis is the leading cause of death from a single infectious agent, ranking above HIV/AIDS. In addition, the WHO also states that the developing economies of Asia-Pacific, Africa, and Latin America account for the major burden related to tuberculosis, MDR TB, and TB associated with HIV, as of 2017. As per a 2017 report of the WHO, about 153,000 patients with MDR/rifampicin resistant (RR) TB were detected worldwide, in 2016. The developed countries, such as the United States and the United Kingdom are also struggling with the sluggish eradication of TB, as per the Centers for Disease Control and Prevention (CDC). Thus, a large section of the world population is affected with tuberculosis each year, thus boosting the growth of the tuberculosis diagnostics market.

Other factors driving this market are - increasing R&D investments, robust product pipeline, and increasing government initiatives and rising awareness in the emerging economies.

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High Cost Associated with Tuberculosis Diagnostics

The cost associated with tuberculosis diagnostics varies across laboratories and hospitals, globally. According to Unitaid, the use of GeneXpert MTB/RIF is primarily hampered owing to its high cost, particularly in the emerging markets. Further, China and India were among the countries that reflect higher costs of tests and increased expansion of the private sector. This is further linked with the unavailability of proper laboratory capacities. In some cases, the diagnostic tools have sub-optimal sensitivity and specificity, which are accompanied by the high costs of reference standard test and mycobacterial culture. Thus, over the forecast period, cost is expected to be one of the major restraining factors for the growth of the market studied.

Asia-Pacific Poised to Dominate the Tuberculosis Diagnostics Market

Owing to the presence of a large, diversified patient population and high burden of tuberculosis, Asia-Pacific is expected to retain its market position, over the forecast period. Countries, such as India, China, Indonesia, and Afghanistan are among the top-priority countries for the control of communicable diseases, according to the WHO. China and India registered the highest number new cases of tuberculosis annually, followed by African and Latin American countries. The emerging economies are witnessing significant growth of the private sector, combined with the public sector, which provides considerable opportunities for the growth of the market studied.

Key Developments in the Market

Jun 2018 - Qiagen welcomed new guidelines from the American Academy of Pediatrics (AAP) for screening children as young as two years old, for latent tuberculosis infection.
May 2018 - Oxford Immunotec Global PLC's T-SPOT.TB test for tuberculosis infection was included in the first edition of the WHO model list of essential in-vitro diagnostics.
Major Players - ABBOTT, BECTON, DICKINSON AND COMPANY, BIOMÉRIEUX SA, CEPHEID, F. HOFFMANN-LA ROCHE AG, HAIN LIFESCIENCE GMBH, HOLOGIC CORPORATION, QIAGEN, SIEMENS, AND THERMO FISHER SCIENTIFIC INC., amongst others.

Reasons to Purchase this Report

Current and future of tuberculosis diagnostics market outlook in the developed and emerging markets
Analysis of various perspectives of the market, with the help of Porter's five forces analysis
The segment that is expected to dominate the market
The regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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Companies Mentioned:

Abbott, Becton, Dickinson and Company, BioMérieux SA, Cepheid, F. Hoffmann-La Roche AG, Hain Lifescience GmbH, Hologic Corporation, Qiagen, Siemens, and Thermo Fisher Scientific Inc.,

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