Sepsis diagnostics market players are focusing on launching cutting-edge detection tools and techniques for early sepsis detection to curb the high mortality due to late diagnosis.
Sepsis diagnostics market players are focusing on launching cutting-edge detection tools and techniques for early sepsis detection to curb the high mortality due to late diagnosis.
Fact.MR, Dublin: The global sepsis diagnostics market is projected to reach the valuation of US$707.3 Mn by the end of 2026. The increasing incidence of sepsis among aging population and alarming growth in number of hospital acquired infection cases are the primary factors aiding the expansion of global market. According to market research firm Fact.MR, heavy investment from government and private facilities for targeted research and initiative aimed at creating sepsis awareness is facilitating the rapid growth of the sepsis diagnostics market.
Introduction of advanced sepsis tests provided significant traction to reagent and assay kits growth. Key market players are showing interest in microbial and molecular diagnostics as they provide fast and accurate test results. Their efforts towards offering state-of-the-art solutions will enable growth in the market.
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“Sepsis diagnostics market players are focusing on developing rapid diagnostics test. As they aim for global expansion, their focus on merger and acquisition will increase. This will assist them in getting a competitive edge and also boost the technological advancement of the test,” said a lead analyst at Fact MR
Sepsis Diagnostics Market – Key findings
- Reagent and assay kits are estimated to cross the valuation of US$300 Million by the end of 2026
- Conventional diagnostics will observe steady growth on the back of low cost and timely modification in diagnostics.
- Sepsis caused by Gram positive bacteria accounts for higher mortality rate than Sepsis caused by Gram negative bacteria.
- Microbial Technology will remain highly sought-after for microbiological sepsis testing.
- Rising incidence of sepsis will catapult the U.S. to the fore of the North America market. Growth in the U.S. market will also be backed by rising healthcare spending.
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Sepsis Diagnostics Market – Key Driving Factors
- Increasing investment from government and private investors in development of advanced and highly accurate diagnostic tools and techniques and in various Sepsis awareness campaigns will propel growth.
- Increasing rate of sepsis in newborn babies, people suffering from diabetes and other chronic diseases is also acting as a key factor enabling market expansion.
- Faster clearance and regulatory approval from government authorities have provided favorable conditions for rapid market growth.
- Strategic moves like collaboration, acquisition and merger among the key market players for advanced research and development and global expansion are significant key market driver.
Sepsis Diagnostics Market – Key Restraints
- High operating cost for the automated instruments led to increased diagnostics cost causing the decline in Sepsis diagnostics market demand.
- Absence of established reimbursement policy for sepsis related death and damage is one of the key reason for decrease in antibiotic residue test kits market demand
Sepsis Diagnostics Market – COVID-19 Impact
According to the Global Sepsis Alliance, novel Corona virus increased the risk of developing sepsis among the patients already suffering from Covid-19. Among the deceased patients, 100% of them had severe sepsis while 70% had septic shock. Sepsis led to secondary infection in 50% of deceased patients. Sepsis was the critical cause of death among COVID-19 patients. According to Centers of Disease Control around 6% of COVID-19 patients were in critical condition due to co-infection and sepsis. These factors participated in increasing demand and search for sepsis diagnostic solutions.
Competitive Landscape
The global leaders in the of sepsis diagnostics are Dickinson and Company, Abbott Laboratories, Inc., Becton, Quidel Corporation, Qiagen NV, Thermo Fisher Scientific Inc., Danaher Corporation (Beckman Coulter, Inc.), T2 Biosystems, Inc., Abionic SA., Roche Holdings AG (Roche Diagnostics Limited), Luminex Corporation, Biomérieux SA, and Siemens Healthineers,
The key market players are focusing on the development of advance testing diagnostic methods and techniques. They are also strategizing on collaborating and merging with other companies for developing cost effective, rapid diagnostic test kits.
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About the Report
This 170-page study offers in-depth commentary on the Sepsis Diagnostics Market. The study provides compelling insights on Sepsis Diagnostics Market on the basis of product type (Blood type, Instruments, Assay and Reagents), Method (Conventional and Automated), across Three regions (North America, Europe, Asia Pacific excluding Japan).
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Source: Fact.MR