Rising prevalence of neglected tropical diseases and increasing adoption of modern diagnostic services are key factors fueling global market growth.
Rising prevalence of neglected tropical diseases and increasing adoption of modern diagnostic services are key factors fueling global market growth
The global neglected tropical diseases (NTD) diagnosis market size is expected to reach USD 8.63 billion in 2028 and register a CAGR of 4.3% according to the latest report by Reports and Data. Increasing public awareness about neglected tropical diseases and increasing efforts by key players to develop affordable diagnostic assays are key factors fueling global market revenue growth.
Neglected tropical diseases are caused by bacteria, parasites, and viruses, commonly seen in low-income populations. Chikungunya, dengue, lymphatic filariasis, and taeniasis/cysticercosis are a few of the common NTDs that occur due to poor health and hygiene, poverty, lack of sanitation, and clear water. Rising prevalence of these neglected tropical diseases across the globe is increasing demand for NTD diagnostic assays. Growing adoption of point-of-care testing services at home healthcare, increasing usage of advanced diagnostic services, rising investments in research and development of diagnostic methods are a few key factors fueling market growth.
High costs of diagnostic tests and kits, and dearth of skilled professionals for carrying out accurate diagnosis are some factors expected to restrain global market growth during the forecast period.
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Some key highlights in the report:
- Among the disease segment, the dengue segment is expected to account for highest revenue growth over the forecast period. Robust revenue share is attributable to rising prevalence of dengue globally and increasing focus of healthcare companies to develop modern kits for detecting dengue.
- Based on diagnostic methods, the modern method segment is expected to account for significant revenue growth between 2021 and 2028. The modern methods are useful in detecting various types of neglected tropical diseases, which is limited in the conventional methods. These advanced methods offer quick and precise results in minimum required time.
- Among services, the point-of-care testing services segment is expected to account for fastest revenue growth over the forecast period. Growing adoption of POC services is an essential factor fueling market growth. These POC services are portable, easy to use, and offer quick diagnosis.
- Based on end-use, the home healthcare segment is expected to register fastest revenue CAGR over the forecast period owing to rising adoption of POC testing services and improved healthcare access to remote areas.
- Asia Pacific market is expected to account for significant revenue growth over the forecast period. Increasing target population, growing emphasis on improving healthcare systems, and steady rise in disposable income are boosting revenue growth of global neglected tropical diseases diagnosis market.
- The market in Latin America is expected to register high revenue CAGR throughout the forecast period due to rising prevalence of NTD, increasing awareness about these diseases, and growing implementation of point-of-care testing services.
- Key players operating in the global neglected tropical diseases diagnosis market include Thermo Fisher Scientific Inc, ZeptoMetrix Inc, InBios International Inc, Abbott, Genome Diagnostics Pvt. Ltd, Coris Bioconcept SPRL, Omega Diagnostics Group PLC, DiaSys Diagnostic Systems GmbH, and Oscar Medicare Pvt. Ltd.
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For this study, Reports and Data has segmented the global neglected tropical diseases diagnosis virus testing market based on Disease Diagnostic method, Service Type, End-Use, and Region:
Disease Outlook (Revenue, USD Million, 2018 - 2028)
- Dengue
- Chikungunya
- Rabies
- Leprosy
- Buruli Ulcer
- Yaws
- Lymphatic Filariasis
- Taeniasis/Cysticercosis
- Foodborne Trematodiases
- Echinococcosis
- Chagas Disease (American Trypanosomiasis)
- Dracunculiasis
- African Trypanosomiasis
- Soil-transmitted Helminth Infections
- Onchocerciasis
- Schistosomiasis
- Scabies and Other Ectoparasites
- Snakebite Envenoming
- Leishmaniasis
Diagnostic Method Outlook (Revenue, USD Million, 2018 - 2028)
- Conventional Method
- Molecular/Modern Method
Service Type Outlook (Revenue, USD Million, 2018 - 2028)
- Centralized Service
- POC (Point-of-care) Service
End-use Outlook (Revenue, USD Million, 2018 - 2028)
- Clinical Laboratories
- Hospitals and Clinics
- Home Healthcare
- Others
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Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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