Global Tuberculosis Diagnostics Market Outlook to 2024 - Nucleic Acid Testing is Expected to Hold the Highest Market Share - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 19, 2019--The “Tuberculosis Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The tuberculosis diagnostics market has witnessed a CAGR of 4.56%.
Factors propelling the growth of the market include the increasing burden of tuberculosis and multidrug-resistant tuberculosis, increasing R&D investments, intensive product pipelines, and increasing government initiatives in the emerging markets.
The landscape of TB diagnostics has changed dramatically during the past ten years. Moreover, in response to WHO’s Global TB Programme, it has implemented a systematic and dynamic process, that is used to evaluate technologies and develop policies, which has, thus, enhanced the growth of the market.
The prevalence rate of tuberculosis is also increasing every year, along with the number of government awareness programs that are influencing people to opt for diagnostic tests (like radiographic tests), which are expected to drive the market during the forecast period.
The market is also expected to witness growth as there is an opportunity for players in the market studied to accelerate the market approval of their pipeline diagnostic products by spurring the fundamental research in TB. Additionally, technological developments in fields, like genomics and proteomics, can be leveraged by diagnostic providers to hasten the process of product development in TB diagnostics.
Key Market Trends
Nucleic Acid Testing is Expected to Hold the Highest Market Share among the Diagnostic Tests
In the application type segmentation of the tuberculosis diagnostics market nucleic acid testing is believed to have the largest market size, and is expected to witness a CAGR of 5.4% during the forecast period. This can be attributed to the nucleic acid amplification tests (NAATs) that have been used as diagnostic tools for tuberculosis (TB) in the United States since many years, and which still continue to be used.
There are substantial advancements in the diagnosis of TB. Moreover, hese tests have been commercially available in the United States for over two decades that offer better accuracy than other microscopy tests, and even provide greater speed than culture-based tests.
The smear laboratory test is also highly specific in areas with a very high prevalence of tuberculosis. Further, the increasing prevalence rate of TB and advancements in culture-based tests are also expected to drive the market during the forecast period.
Asia-Pacific is the Largest Regional Tuberculosis Diagnostics Market and is expected to be the Same in the Forecast Period
Asia-Pacific is anticipated to exhibit profitable growth over the forecast period due to its high burden as well the rapid proliferation of this disease. The increasing prevalence of TB in Japan helps in the growth of the TB diagnostics market, as the high prevalence of TB creates an urgent demand for effective and quick diagnosis of the disease.
In addition, according to the recent budget announcement, Government of India aims to eliminate tuberculosis (TB) by 2025, which is expected to act as a major factor for the growth of the Asia-Pacific market during the forecast period.
The major global players in the tuberculosis diagnostics market are Abbott, Becton, Dickinson and Company, bioMerieux SA, Cepheid, and F. Hoffmann-La Roche AG, among others.
New product launches, collaborations, mergers and acquisitions, and regional expansions are the key strategic initiatives undertaken by these industry players.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Tuberculosis and Multidrug-resistant Tuberculosis (MDR-TB)
4.2.2 Increasing R&D Investments and Intensive Product Pipelines
4.2.3 Increasing Government Initiatives and Rising Awareness in the Emerging Markets
4.3 Market Restraints
4.3.1 High Costs Associated with Tuberculosis Diagnostics
4.3.2 Low Coverage or Absence of Insurance in the Emerging Markets
4.4 Porter’s Five Forces Analysis
5 Market Segmentation
5.1 By Diagnostic Test Type
5.1.1 Radiographic Test
5.1.2 Laboratory Test
5.1.3 Nucleic Acid Testing
5.1.4 Cytokine Detection Test
5.1.5 Drug Resistance Test
5.1.6 Other Diagnostic Test Types
5.2 By End User
5.2.2 Diagnostics/Research Laboratory
5.2.3 Other End Users
5.3.1 North America
5.3.4 Middle East & Africa
5.3.5 South America
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Becton, Dickinson and Company
6.1.3 bioMerieux S.A.
6.1.5 F. Hoffmann-La Roche AG
6.1.6 Hain Lifescience GmbH
6.1.7 Hologic Corporation
6.1.9 AdvaCare Pharma
6.1.10 Thermo Fisher Scientific Inc.
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/nm87sq/global?w=4
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PUB: 03/19/2019 08:37 AM/DISC: 03/19/2019 08:37 AM