Published Date: August, 2017
A recent report published by Infinium Global Research on tuberculosis testing market provides in depth analysis of segments and sub-segments in global as well as regional tuberculosis testing market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional tuberculosis testing market over the short term as well as long term. The global tuberculosis testing market is projected to grow at a CAGR of 4.5% over the forecast period of 2017 – 2023. It was worth USD 2230.0 million in 2015 and is projected to reach USD 3262.2 million by 2023.
Tuberculosis is a highly infectious bacterial infection, and is caused due to Mycobacterium tuberculosis or MTB infection and majorly infects human lungs. Tuberculosis (TB) can be caught by breathing in air that an infected person has contaminated through: Breathing, coughing. Furthermore, the disease is ranked second leading cause of death, after human immunodeficiency virus (HIV). Individual majorly suffer from two predominant forms of TB: Active tuberculosis and Latent tuberculosis. The global tuberculosis testing market comprises diagnostic tests, equipment’s and testing procedures that contribute assistance in diagnostic of tuberculosis infection.
Figure 1: Global Tuberculosis Testing Market by Value 2015-2023
Coupled with high prevalence and incidences of TB are the major factors responsible for high growth of tuberculosis testing market. In addition, availability of new improved tests, increasing awareness level, developing infrastructure and increased involvement of some of the world’s leading organizations such as WHO (World Health Organization) and FIND (Foundation for Innovative New Diagnostics) contributing to the global growth of this market. On the other hand, High cost associated with testing procedures, lack of specificity and requirement of specialized equipment’s are the prime challenges of this market that are likely to limit the global growth over the forecast period. Rising prevalence of TB, numerous tuberculosis awareness and control program launched by the government organizations and great market potential due to developing economies expected to bring new growth opportunities in near future.
The report on global tuberculosis testing market covers segments such as test type and end-user. On the basis of test type the global tuberculosis testing market is categorized into smear microscopy, nucleic acid testing, radiography, culture based tests, drug susceptibility testing, others. On the basis of end-user the global tuberculosis testing market is categorized into hospitals, laboratories, others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023.
Figure 2: Global Tuberculosis Testing Market by Region, CAGR % 2017-2023
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017-2023.
The report provides profiles of the companies in the global tuberculosis testing market such as, Abbott Laboratories, Akonni Biosystems, Inc., Alere, Inc., Becton, Dickinson and Company, Cepheid, Epistem Holdings Plc, F. Hoffmann-La Roche AG, Thermo Fischer Scientific Inc., bioMérieux SA, Siemens Healthineer Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global tuberculosis testing market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of tuberculosis testing market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the tuberculosis testing market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the tuberculosis testing market to understand the present and future trends in this market and formulate their strategies accordingly.
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