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Tuberculosis Diagnostics Market to witness major growth in coming years

Author : Rahul Sankrityayan | Published Date : 2019-08-07 

Tuberculosis Diagnostics Market size is projected to experience significant growth from 2019 to 2025. Growing number of patients suffering from tuberculosis in developing and tropical countries will stimulate tuberculosis diagnostics business growth during the forecast period. As per the World Health Organization Statistics, in 2016, about 2.8 million people in India were affected by tuberculosis. Growing prevalence of tuberculosis coupled with increasing government initiatives pertaining to diagnostic and treatment procedures will further lead to high demand for tuberculosis diagnostics market.

Increase in expenditure on R&D activities for development of novel tuberculosis diagnostic procedures will be a major factor for growth of tuberculosis diagnostics market growth in the future. For instance, Unitaid doubled its investment form USD 15 million in 2016 to USD 29 million in 2017 for development of diagnostic and treatment procedures. Additionally, various industry players are focusing on development of novel tuberculosis testing assays, thereby leading to industry growth in the future.

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However, lack of funding from private sector coupled with significant gap between diagnostic needs and available technologies will hamper market growth in the future.

Nucleic acid amplification test (NAATs) segment devices will witness significant growth rate during the forecast timeframe. Various advantages associated with NAATs such as high accuracy and greater speed as compared to other microscopy tests will boost market growth. Moreover, various emerging economies such as India and South Africa are procuring these test kits on large scale, thus leading to segmental growth.

Hospitals segment is forecasted to show considerable growth during the analysis period. Growing pervasiveness of multi-drug resistant (MDR) tuberculosis coupled with increasing demand for diagnostic procedures will boost market growth in hospitals. Additionally, development of healthcare infrastructure and increasing investment by various governments to decrease the burden of tuberculosis will offer growth opportunities to drive the segmental growth.

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Asia Pacific tuberculosis diagnostics market will dominate the overall market during the forecast period due to high number of patients suffering from MDR tuberculosis in countries such as Chine and India. Also, the favorable regulatory policies to ensure patient safety will boost the U.S. tuberculosis diagnostics industry growth over forthcoming years. Additionally, various market players are focusing on developing markets of South East Asian countries to explore untapped opportunities, thus boosting regional growth.

Latin America tuberculosis market is estimated to witness lucrative growth over the forecast period due to unmet medical needs and rising prevalence and incidence of tuberculosis. For instance, as per EHO estimates, in 2017, more than 85 thousand cases were reported in Brazil Moreover, rising government investment that supports growth of tuberculosis diagnosis test kits and procedures across the developing economies of the region will spur market growth.

Few of the key companies operating in tuberculosis diagnostics market include Abbott Laboratories, AdvaCare Pharma, Becton, Dickinson and Company, BioMerieux SA, Cepheid, Roche AG, Hain Lifescience, Hologic Corporation, Qiagen and Thermo Fisher Scientific Inc. The industry players focus on strategic initiatives such as mergers, new product launch and acquisitions to maintain their market position. For instance, in March 2017, Cepheid announced launch of Xpert MTB/RIF Ultra test in collaboration with FIND and Rutgers New Jersey Medical School. The launch was aimed to attract more customers and strengthen the revenue generation stream.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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