- Increasing Investments and Focus on Medical Tourism Expected To Push Revenues to $3,063.2Million By 2016
SINGAPORE, Aug. 13, 2012 /PRNewswire/ -- The occurrence of infectious diseases – vector and blood borne – is high in Asia Pacific countries due to the tropical climate. While limited healthcare budgets had prevented most countries in the region from investing on diagnosis, treatment and elimination protocols, improving economies as well as funding and grants from international organizations have seen the adoption of earlier diagnosis and treatment strategies in recent years.
New analysis from Frost & Sullivan (http://www.drugdiscovery.frost.com), Asia Pacific Infectious Disease Diagnostics Market, expects the market to grow at 13.2 percent to reach revenues of $3,063.2 million by 2016. The study analyses the immunochemistry, molecular diagnostics and microbiology markets for the treatment of malaria, dengue, tuberculosis, HIV, hepatitis C, STI, influenza and pertussis.
As Asian countries position themselves as a popular medical tourism destination, the need to control incidences of infectious disease is considered a priority. Hence these countries are focusing on ways to improve diagnosis of diseases in high risk endemic areas.
"Vector borne diseases such as dengue and malaria were prevalent only in developing and emerging economies in Asia; however, blood borne diseases like HIV and Hepatitis are an issue in most of the Asia Pacific countries," says Frost & Sullivan Consultant Poornima Srinivasan. "Elimination strategies and national diagnosis policies focusing on microbiology testing and molecular testing are gaining grounds and these countries aim to be free from infectious disease by 2030."
The number of private hospitals and stand alone laboratories are expected to rise with ageing population and increased incidence of infectious disease. These factors drive the need for infectious disease diagnostic testing using sophisticated technologies.
Since the infectious disease diagnostics market is technology and price driven in most Asia Pacific countries, competitive pricing and relationship with distributors are the way forward for vendors in the market.
"Most countries are expected to adapt molecular diagnostic testing for blood borne infectious disease," opines Srinivasan. "It is likely that with huge research and development investments, multinational companies will continue to dominate the market after making an early entry in the molecular diagnostic segments for infectious diseases."
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