SAN FRANCISCO, March 11, 2020 /PRNewswire/ -- The global sepsis diagnostic market size is expected to reach a value of USD 1.1 billion by 2027, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. High prevalence of sepsis, introduction of technologically advanced medical examination systems and increasing government initiatives is expected to propel market growth over the forecast period.
Key suggestions from the report:
In 2019, the blood culture media segment has emerged as the largest revenue generating segment owing to the high adoption of culture media tests in laboratories for the diagnosis of septic poisoning
Molecular diagnostics is anticipated to witness a lucrative CAGR over the forecast period owing to its high sensitivity, accuracy, and less turnaround time
In 2019, bacterial sepsis contributed towards the largest revenue share among the pathogen segment owing to its high prevalence
North America dominated the sepsis diagnostics market with the largest revenue share in 2019. High awareness, favorable reimbursement scenario, and presence of established players are facilitating the dominance of this region during the study period
The Asia Pacific region is projected to witness a lucrative growth owing to increasing awareness about sepsis diagnosis and treatment in emerging economies such as India and China
Some of the key players include bioMérieux SA; Beckman Coulter, Inc.; Becton, Dickinson and Company; Sysmex Corporation; F. Hoffmann-La Roche AG; and Thermo Fisher Scientific, Inc.
According to CDC estimates, every year more than 1.7 million adults in U.S. suffer from sepsis, which leads to around 270,000 deaths. Furthermore, according to the report published by OECD in 2018, every year around 3.8 million patients suffer from hospital-acquired infections (HAIs) in acute care hospitals in European countries. High prevalence of HAIs in key regions is expected to significantly increase the demand for medical examination solutions, thereby fueling market growth over the forecast period.
Increasing regulatory approval and introduction of technologically advanced medical examination solutions for the life-threatening disease condition are expected to facilitate market growth over the forecast period. In May 2018, T2 Biosystems, Inc., a U.S.-based emerging medical examination solutions company received the U.S. FDA approval for its T2Bacteria Panel, intended for the detection of specific sepsis-causing bacterial pathogens in human whole blood specimens.
In April 2019, the Scottish Government in collaboration with Sepsis Research (originally called FEAT - The Fiona Elizabeth Agnew Trust) launched a Scotland-wide campaign to spread public awareness about the signs and symptoms of sepsis. Such initiatives to raise public awareness about the disease condition is expected to raise demand for its rapid medical examination solutions and support its market growth in the near future.
Grand View Research has segmented the global sepsis diagnostics market on the basis of product, technology, pathogen, testing type, and region:
Sepsis Diagnostics Product Outlook (Revenue, USD Million, 2016 - 2027)
Blood Culture Media
Assay Kits and Reagent
Sepsis Diagnostics Technology Outlook (Revenue, USD Million, 2016 - 2027)
Sepsis Diagnostics Pathogen Outlook (Revenue, USD Million, 2016 - 2027)
Sepsis Diagnostics Testing Type Outlook (Revenue, USD Million, 2016 - 2027)
Sepsis Diagnostics Regional Outlook (Revenue, USD Million, 2016 - 2027)
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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