The global sepsis diagnostic market is demonstrating a steady growth due to rising prevalence of sepsis and the growing burden of other infectious diseases.
Ongoing technological advancements and introduction of automated detection solutions are spurring the sepsis diagnostic market growth
Fact.MR – A Market Research and Competitive Intelligence Provider: The global sepsis diagnostic market is demonstrating a steady growth due to rising prevalence of sepsis and the growing burden of other infectious diseases. As per a report by Fact.MR, the global sepsis diagnostic market is expected to showcase a robust CAGR of 8% for the 2021-2031 forecast period.
According to the World Health Organization (WHO), over 30 million cases of sepsis are estimated to be reported every year. Furthermore, around 1.2 million children and 3 million newborns are affected by this disease every year across the globe. Thus, increasing prevalence of the disease will boost the demand for sepsis diagnostic.
Similarly, according to the National Center for Biotechnology Information (NCBI) largest number of incidence has been observed in the youngest and oldest age groups. Thanks to the numerous efforts being undertaken by the governments to reduce this disparity and spread awareness about the disease, the demand for sepsis diagnostic is expected to soar.
North America is projected to dominate the sepsis diagnostic market due to the rising prevalence of sepsis and other infectious diseases. Increasing awareness and the introduction of various technologically advanced diagnostic methods has emerged as chief growth drivers in the region.
“Increasing investment in advance diagnostic solutions and launch of next-generation sequencing (NGS)-based techniques for diagnosis are expected to have a significant impact on the growth of the sepsis diagnostic market,” says the Fact.MR analyst.
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Key Takeaways
- The U.S. Sepsis diagnostic Market is dominating the sepsis diagnostic market due to high awareness and favorable reimbursement scenarios in the country.
- Owing to the efforts made by National Health Service to reduce the deaths because to sepsis, the U.K. will emerge as a highly lucrative market for sepsis diagnostic.
- Germany to open new growth frontiers amid deepening nanopore sequencing in diagnostics activities.
- The Asia Pacific is estimated to project significant growth on the back of presence of a large target population in the region.
- Sepsis diagnostic market in India is expected to acquire significant gains due to the high prevalence of sepsis and other infectious diseases.
Key Drivers
- Rising prevalence of sepsis and other infectious diseases will drive the global sepsis diagnostic market.
- Ongoing technological advancement in diagnostic systems will propel the market growth
- Increasing government initiatives to spread awareness will boost the demand for sepsis diagnostic.
Key Restraints
- Strict regulatory government requirements for diagnostic approval are restraining the growth of the sepsis diagnostic market.
- High costs of diagnosis might hamper the global market growth.
- Lack of skilled professionals for advance sepsis diagnostic is negatively affecting the growth of the market
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Competitive Landscape
Key players operating in the sepsis diagnostic market profiled by Fact.MR includes BioMerieux SA, Becton Dickinson and Company (BD), Thermo Fisher Scientific Inc., Abbott Laboratories Inc., Roche Holdings AG, T2 Biosystems Inc., Danaher Corporation (Beckman Coulter Inc.), Luminex Corporation, Qiagen NV, Siemens Healthineers, Quidel Corporation, Abionic SA, OpGen Inc., Curetis NV, CytoSorbents Corporation, Fujirebo Europe NV, Nanomix Inc., and Miacom Diagnostics.
The prominent players operating in the market are adopting inorganic growth strategies, such as partnerships and mergers, for the development of novel diagnostic solutions. For instance,
- Inotrem SA and Roche, made a strategic agreement for the commercialization of a companion diagnostics test in January 2020.
- In 2020, the Beckman Coulter collaborated with Biomedical Advanced Research and Development Authority (BARDA) for the development of a digital algorithm.
More Insights into the Sepsis Diagnostic Market
Fact.MR offers unbiased analysis of the sepsis diagnostic market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (blood culture media, instruments, and assays & reagents), method (conventional sepsis diagnostics, and automated sepsis diagnostics), pathogen (gram-negative bacterial sepsis, gram-positive bacterial sepsis, fungal sepsis, and others), technology (microbiology, molecular diagnostics, immunoassays, and other technologies), and across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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Source: Fact.MR