While COVID-19 has made the need for in vitro diagnostics (IVD) that can detect infectious diseases front and center, demand for these tests was building before the pandemic and revenues for test products will grow says a report from a major publisher of IVD market research.
The industry consists of tests and related products that detect and characterize infectious diseases. This is according to a new report from Kalorama Information, part of Science and Medicine Group. The report is: Infectious Disease World Market Analysis.
The report says the market for infectious diseases was 62.7 BN. COVID-19 is a factor, but is not the only contributor to the demand for infectious disease testing. COVID-19 testing revenues are not wholly predictable, but expected to decline over the long-term. But other infectious disease testing will grow, and Kalorama’s report cites 10 reasons:
1. Aging population patterns, which will increase the number of individuals vulnerable to infectious and viral conditions in most countries.
2. Evolving epidemiological patterns, which will keep diseases such as hepatitis, sepsis, malaria, and tuberculosis viable threats to human health, especially in the developing countries.
3. The expansion of healthcare cost containment initiatives, which will encourage medical providers to broaden the use of IVD tests that detect infectious diseases in early stages when treatment is less costly and more likely to succeed.
4. The continuing widespread coverage of most developed world residents for basic and essential diagnostic procedures.
5. Gradual improvements in the availability, accessibility, and diagnostic capabilities of developing world medical delivery systems.
6. The periodic emergence of new infectious and viral disease threats, which will create a need for related tests. COVID-19 Itself is a large category of infectious disease testing, as detailed in the report.
7. Widening acceptance of routine infectious disease screening procedures in basic inpatient and outpatient care.
8. Stepped up efforts by hospitals and other medical facilities to reduce the incidence and mortality of healthcare-associated infections (HAIs).
9. Advances in molecular and other advanced IVD technologies, which will increase infectious disease detection capabilities.
10. The adaptation of new and existing infectious disease testing procedures to point of care (POC) sites in hospitals, outpatient facilities, physicians’ offices, retail clinics, nursing homes, and other near patient markets.
Diseases for which there tests include influenza and other respiratory, hepatitis, tuberculosis, TORCH, sexually transmitted infections (STIs) bacterial identification and antibiotic susceptibility testing (ID/AST) HIV/AIDS, others (including malaria, streptococcal infections, fungal infections) these are covered in the report.
Kalorama information’s report can be found at: https://kaloramainformation.com/product/infectious-disease-diagnostic-testing-world-market-analysis/
About Kalorama Information:
Kalorama Information is the leading publisher of market research in healthcare areas, including in vitro diagnostics (IVD), biotechnology, medical devices, and pharmaceuticals. Science and Medicine Group supports companies seeking to commercialize the rapidly changing marketplace at the intersection of science, medicine, and technology. Comprised of industry-leading brands, Science and Medicine Group serves analytical instrument, life science, imaging, and clinical diagnostic companies by helping them create strategies and products to win markets and provide platforms to digitally engage their markets through a variety of innovative solutions. Kalorama Information produces 30 reports a year. The firm offers a Knowledge Center, which provides access to all published reports.