The tuberculosis diagnostics market may experience a meteoric rise in the growth rate during the forecast period of 2019-2029 with various initiatives and campaigns to raise awareness about tuberculosis serving as the prime factor.
The tuberculosis diagnostics market may experience a meteoric rise in the growth rate during the forecast period of 2019-2029 with various initiatives and campaigns to raise awareness about tuberculosis serving as the prime factor. According to the World Health Organization (WHO), 1.5 million people died from tuberculosis in the year 2018. Tuberculosis is one of the top 10 leading death causes across the world. These facts shed light on the need for diagnosing tuberculosis at an early stage. Therefore, this aspect may boost the growth rate of the tuberculosis diagnostics market greatly.
This tuberculosis diagnostics market report strikes the right chord in analyzing various factors influencing the growth rate. Some major parameters such as key trends, competitive landscape, and the regional outlook of the tuberculosis diagnostics market have been thoroughly studied and covered in this report. Market stakeholders can greatly benefit from this deeply scrutinized report on the tuberculosis diagnostics market. Furthermore, this report also sees the tuberculosis diagnostics market through the lens of the COVID-19 outbreak, thus giving a complete idea of the market scenario.
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Tuberculosis Diagnostics Market: Competitive Analysis
The tuberculosis diagnostics market comprises of numerous new players and well-established players on its horizon. New startups are emerging with novel tuberculosis diagnostics devices that assist in rapid tuberculosis detection. Quick approvals from governing bodies are also proving to be growth generators for the tuberculosis diagnostics market. In addition, new product launches, mergers, acquisitions, collaborations, joint ventures, and partnerships are assisting in increasing the growth rate of the tuberculosis diagnostics market.
Some well-entrenched players in the tuberculosis diagnostics market are BioMérieux SA, Thermo Fisher Scientific Inc., Abbott Laboratories, F.Hoffman-La Roche AG, and Becton, Dickinson and Company.
Tuberculosis Diagnostics Market: Key Trends
The growing impact of the COVID-19 pandemic on the world has prompted many countries to adopt vigorous testing measures as one of the gold standards for flattening the curve. Many tuberculosis diagnostics devices are proving to be beneficial for rapid COVID-19 testing. Hence, this factor may prove to be a game-changer for the tuberculosis diagnostics market. Many manufacturers are redesigning or incorporating new formulations to make tuberculosis diagnostics devices efficient for COVID-19 testing.
Governments of various countries are giving approvals for tuberculosis diagnostics platforms to increase the COVID-19 testing rate. For instance, the Government of India recently approved the TrueNAT testing platform for COVID-19 testing.
Approvals for novel tuberculosis testing methods are also proving to be the knight in shining armor for the growth of the tuberculosis diagnostics market. Recently, a combined team of researchers from the U.S. and India designed a point-of-care tuberculosis triage test kit. It is based on proteins that act against tuberculosis. Thus, such developments accelerate the growth rate of the tuberculosis diagnostics market.
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Tuberculosis Diagnostics Market: Regional Outlook
The tuberculosis diagnostics market is geographically classified into North America, the Middle East and Africa, Europe, Asia Pacific, and South America. Asia Pacific may raise the bar of growth for the tuberculosis diagnostics market due to the increasing prevalence of tuberculosis in India, Indonesia, Bangladesh, Pakistan, and China. According to WHO, eight countries account for two-thirds of the worldwide tuberculosis cases, out of which, most countries are from the Asia Pacific. In addition, as mentioned in the ‘Key Trends’ section, the Indian Government has approved TRUENat testing for COVID-19. Also, India aims to end tuberculosis by 2025. Therefore, these factors may also turn out to be key influencers for the tuberculosis diagnostics market growth.
Current and Future Threats
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Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
Industrial Analogy
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
COVID-19 Impact
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
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