Sepsis Diagnostics Market to Reach $1.2 Bn, Globally, by 2030 at 7.8% CAGR: Allied Market Research
Rise in government funding for sepsis-related research activities and increase in the prevalence of infectious diseases drive the growth of the global sepsis diagnostic market.
PORTLAND, Ore., May 5, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Global Sepsis Diagnostics Market by Product (Blood Culture Media, Instruments, Assay kits & Reagents, Software), by Technology (Microbiology, Molecular Diagnostics, Immunoassays, Flow Cytometry), by Method (Conventional Diagnostics, Automated Diagnostics), by Usability (Laboratory Testing, Point-of-care Testing), by Pathogen (Bacterial Sepsis, Fungal Sepsis, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report published by Allied Market Research, the global sepsis diagnostics market was estimated at $569.49 million in 2020 and is expected to hit $1.2 billion by 2030, registering a CAGR of 7.8% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Rise in government funding for sepsis-related research activities and increase in the prevalence of infectious diseases drive the growth of the global sepsis diagnostic market. On the other hand, high costs associated with automated diagnostics devices impede the growth to some extent. However, developments in rapid diagnosis/point-of-care) techniques for early sepsis diagnostics are expected to create lucrative opportunities in the industry.
Covid-19 scenario-
- The global spread of COVID-19 and the emergence of sepsis cases among the patients boosted the demand for rapid diagnosis, resulting in faster adoption of devices, reagents, and test kits for sepsis detection. This factor impacted the global track and trace solutions market positively.
- This trend is quite likely to continue till the pandemic is completely over, since Covid-19 infected patients are more prone to be afflicted by sepsis.
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The conventional diagnostics segment to retain the lion's share-
By method, the conventional diagnostics segment held the major share in 2020, garnering nearly three-fourths of the global sepsis diagnostic market, due to the cost-effectiveness of conventional diagnostics methods as compared to automated diagnostic practices. The automated diagnostics segment, on the other hand, is projected to cite the fastest CAGR of 8.3% throughout the forecast period.
The blood culture media segment to dominate by 2030-
By product, the blood culture media segment contributed to the lion's share in 2020, holding nearly two-fifths of the global sepsis diagnostic market. Increase in the number of sepsis case, rise in geriatric population, high incidence of bloodstream infection, and growth in the demand for rapid diagnostic techniques fuel the segment growth. However, the instruments segment is projected to manifest the fastest CAGR of 8.7% from 2021 to 2030.
North America held the major share in 2020-
By region, North America dominated in 2020, garnering nearly half of the global sepsis diagnostic market, due to the presence of highly advanced healthcare system, high adoption of innovative sepsis diagnostics technology, and technological development in the field of sepsis diagnostic. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 8.9% throughout the forecast period. Growing demand for sepsis diagnostics solutions in countries such as China and India fuels the market growth.
Key players in the industry-
- Thermo Fisher Scientific Inc.
- Becton, Dickinson and Company
- Nanosphere Inc.
- Bruker Corporation
- Abbott Laboratories, Inc.
- Beckman Coulter, Inc.
- Danaher Corporation
- BioMerieux
- T2 Biosystems, Inc.
- Hoffmann-LA Roche Ltd.
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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
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