Global Respiratory Infectious Disease Diagnostics Market Analysis Report 2022-2030: Increased Focus on Introduction of Multiplex PCR and Adoption of Self-Test and Point-of-Care Products – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Analysis of Respiratory Infectious Disease Diagnostics Market Size, Share, and Trends by Product Type (Instruments, Services), by Sample Type (Blood, NPS), by Application, by technology and segment forecast, 2022-2030” has been added to from ResearchAndMarkets.com offer.

The global respiratory infectious disease diagnostics market size is expected to reach USD 43.6 billion by 2030, registering a CAGR of -1.8%

The decline in market size is mainly attributed to the decline in COVID-19 testing. However, the market without the impact of COVID-19 is expected to grow over the forecast years.

The growth can be attributed to an increase in the prevalence of infectious respiratory diseases and initiatives by governments and non-profit organizations to introduce new and innovative products to meet the growing demand. For example, global investment in TB R&D reached $915 million, and approximately $401 million was spent by the US government on TB research in 2020.

During the forecast period, the global industry is expected to be driven by the rising incidence of infectious respiratory disorders, such as tuberculosis, RSV and influenza. According to the UN, pneumonia affects approximately 4.2 million people each year. Key players are developing innovative techniques to improve production to meet the growing demand for diagnostics and consumables for the diagnosis of infectious diseases.

For example, OPT Industries Inc. introduced InstaSwab using the 3D printing system to address sample collection kit supply shortages due to the COVID-19 pandemic. These swabs are made of woven mesh to absorb and release more liquid than conventional swabs. Companies are advancing their diagnostic products using new techniques to achieve precise and targeted results.

Canon Inc. announced the development of built-in AEC support for digital X-rays in March 2021. The X-ray image sensor enables users to perform image production and real-time image detection corresponding to the X-rays emitted. Additionally, in May 2021, the University of California developed an ultra-sensitive molecular test to identify the presence of SARS-CoV-2 and influenza A antigens using chip technology.

Additionally, the companies are also launching multiplex tests for the simultaneous diagnosis of RSV, influenza, and COVID-19 respiratory illnesses. RT-PCR tests are considered the gold standard for diagnosing COVID-19 in patients. However, the high prices associated with molecular testing are one of the main obstacles to this market.

The lack of comparable products is another reason for the price hike. This problem is further compounded by the wide variations in price for the different applications of each molecular diagnostic product. Companies are adopting strategies, such as new product launches and partnerships, to increase the penetration of respiratory infectious disease diagnostic products.

For example, in August 2021, Thermo Fisher Scientific Inc. received an EUA for the introduction of two COVID-19 diagnostic products, the TaqPath COVID-19 RNase P Combo Kit and the TaqPath COVID-19 Fast PCR Combo Kit, on the American market.

Highlights of the Respiratory Infectious Disease Diagnostics Market Report

  • In 2021, the consumables segment accounted for the largest share of revenue and is expected to maintain its dominance over the forecast period owing to the high rates of testing for the diagnosis of COVID-19 and the commercialization of several tests in recent years. .

  • Molecular diagnostics accounted for highest revenue share in 2021, driven by growing use of PCR technology for COVID-19 diagnosis

  • The nasopharyngeal swab specimen type segment accounted for the highest revenue share in 2021 due to high usage in the diagnosis of COVID-19

  • COVID-19 applications segment led the industry in 2021 due to factors such as high incidence rate, increase in product approvals and high R&D initiatives for launching innovative products

  • Tuberculosis diagnostics is expected to show the fastest CAGR during the forecast period due to increasing government attention and R&D funding for diagnostics development

  • Asia-Pacific is expected to witness the fastest growth over the forecast period due to an increase in penetration of IVD products, rising disposable income and high prevalence of TB in the underdeveloped countries

Company Profiles

  • Abbott

  • ThermoFisher Scientific, Inc.

  • Koninklijke Philips NV

  • F. Hoffmann-La Roche SA

  • Biomerieux Sa

  • Bio-Rad Laboratories, Inc.

  • Quidel Company

  • Cepheid (Danaher)

  • Qiagen

  • Siemens Healthcare GmbH

Infectious Respiratory Disease Diagnostics Market Variables, Trends and Scope

Market Driver Analysis

  • High prevalence of infectious respiratory diseases worldwide

  • Technological Advancement in Respiratory Disease Testing

  • Growing R&D investments in respiratory disease testing

Market Restriction Analysis

  • High prices for diagnostic products

  • Presence of an ambiguous regulatory framework

Analysis of market opportunities

  • Increased adoption of self-testing products and point-of-care products

  • Increased focus on the introduction of multiplex PCR

COVID impact analysis

SWOT analysis, by factor (political and legal, economic and technological)

Industry Analysis – Porter’s

Multiplex Testing in Respiratory Infectious Disease Testing, Market Opportunity

For more information about this report visit https://www.researchandmarkets.com/r/rv3gha

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