The "Global Infectious Disease Biomarker Testing Market: Focus on Product Type, Technology, Pathogen, Application, End-user, 5 Regional Data, 15 Countries' Data, and Competitive Landscape - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
According to this market intelligence report the global infectious disease biomarker testing market was valued at $5.64 billion in 2019 and is expected to be $25.01 billion in 2030.
The recent outbreak of COVID-19 is expected to offer lucrative opportunities for the growth of the infectious disease biomarker testing market. In addition, factors such as the growing prevalence of infectious diseases, growth in the biomarker identification market and advancements in molecular techniques, rapid advances in biomarker testing platforms with improved speed, sensitivity, and patient compliance, and significant external funding for executing research and development exercises, among others, are expected to act as drivers promoting the growth of the market.
Evolving pathogens and emerging infectious diseases continue to act as a global burden, impacting not only the lives of the infected individual but also affecting societies and economies, mostly in the form of outbreaks or pandemics. In order to curb or control such a growing prevalence of infectious diseases, different countries across the world have adopted various strategies in order to uplift human lives and promote their healthcare systems. Diagnosis is the first step to a cure, and has always been an active area of investment that has undergone rapid transformation over the decades with the development and introduction of a wide variety of products that aid in the diagnosis, screening, and prognosis of diseases.
The emergence of biomarker testing has significantly changed the landscape of diagnostics by providing a personalized and comprehensive approach. Significant strides in advancing diagnostic technologies have massively facilitated the growing need in terms of infectious disease containment, particularly for highly contagious outbreaks across the globe. Frequent infectious disease outbreaks worldwide have also bolstered the demand for molecular diagnostics, attracting the entry of new companies in the market. In addition to this, the capability of biomarker testing to offers disease surveillance and verification of cases during an outbreak has promoted huge investment in the biomarker testing field. For instance, the recent outbreak of COVID-19 has massively increased the demand for novel molecular diagnostics testing tools, further augmenting the adoption of infectious disease biomarker testing products.
Since February 2020, as the novel coronavirus disease began to become a global concern, affecting almost all the countries of the globe, the global biomarker testing market is experiencing an upsurge in demand for the development of testing assays and kits targeting SARS-CoV-2. Within a span of few months, between February and April, the market witnessed the development and launch of multiple biomarker testing products, based on various technologies such as real-time polymerase chain reaction, enzyme immunoassay, and lateral flow immunoassay.
The leading players of the global viral vector and plasmid manufacturing market predominantly prefer partnerships and alliances to sustain the market competition and strengthen their business position. Product launches and regulatory approvals were also among the major key developments witnessed by the market.
Between assays and platforms, the former leads the market owing to the one-time use of assays that requires repetitive purchase of assays as compared to platforms. It is also attributed to the large availability of a diverse range of assays being offered by key companies of the market in addition to booming research activities being primarily driven into devising the optimum assay for the robust diagnosis of diseases with the confluence of high multiplexing and low cost.
Among the different technologies, PCR dominated the market in 2019. PCR contributed 29.50% of the total market share in 2019 that was majorly attributed to the widespread prominence of PCR based products and its high adoption rate compared to other technologies. However, among all the technologies, NGS is expected to witness the highest CAGR of 17.07% during the forecast period between 2020 and 2030.
Increasing Burden of Pervasively Growing Rate of Infectious Diseases
Advancements in Molecular Techniques and Increased Investment on Biomarker Testing by NGS Players
Boosting Research and Increasing Funding Activities for Clinical Biomarkers
Booming Clinical Diagnostic Test Market and Rising Uptake of Biomarker Tests Among Healthcare Professionals
Poorly Suited Reimbursement Policies
High Capital Investments and Lack of Intricate Testing Centers
Uncertain Regulatory Framework Delaying Tests Approval
Untapped Potential of Emerging Nations Creating Vast Opportunities
Rapid Technological Advancements and Inclination Toward Automation
Widespread Emergence of CROs Specializing in Infectious Diseases
Abacus Diagnostica Oy
Agilent Technologies, Inc.
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
F. Hoffmann-La Roche Ltd
Quest Diagnostics Incorporated
Siemens Healthineers AG
Thermo Fisher Scientific, Inc.
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