The report on Tuberculosis Diagnostics Market sheds light on the important developments impacting and increasing the growth of the Tuberculosis Diagnostics market including its restraints, drivers and prospects. The Tuberculosis Diagnostics market report proposes complete synopsis of the market, covering several characteristics such as product definition, market breakdown based on several constraints, supply chain analysis, and the fundamental Key Players outlook.
The report on Tuberculosis Diagnostics Market will help Major Players and the new entrants to understand and scrutinize the market in detail. This information will encourage the Major Players to decide their business strategy and achieve proposed business aims.
Tuberculosis Diagnostics Market
The global tuberculosis diagnostics market is expected to register a CAGR of nearly 4.5%, during the forecast period of 2018–2023. Although tuberculosis is a curable disease, it still remains one of the most common causes of death among adults, particularly in the emerging economies. The rising burden of tuberculosis and technological advancements play a crucial role in the growth of the market studied. Owing to the presence of a large, diversified patient population, rising prevalence of tuberculosis, and increasing healthcare infrastructure with an expanding private sector, Asia-Pacific has captured the largest market share.
Rising Burden of Tuberculosis and Multi-drug Resistant Tuberculosis (MDR TB)
According to the World Health Organization (WHO), about 10 million people are affected by tuberculosis, each year. Further, tuberculosis is the leading cause of death from a single infectious agent, ranking above HIV/AIDS. In addition, the WHO also states that the developing economies of Asia-Pacific, Africa, and Latin America account for the major burden related to tuberculosis, MDR TB, and TB associated with HIV, as of 2017. As per a 2017 report of the WHO, about 153,000 patients with MDR/rifampicin resistant (RR) TB were detected worldwide, in 2016. The developed countries, such as the United States and the United Kingdom are also struggling with the sluggish eradication of TB, as per the Centers for Disease Control and Prevention (CDC). Thus, a large section of the world population is affected with tuberculosis each year, thus boosting the growth of the tuberculosis diagnostics market.
Other factors driving this market are – increasing R&D investments, robust product pipeline, and increasing government initiatives and rising awareness in the emerging economies.
High Cost Associated with Tuberculosis Diagnostics
The cost associated with tuberculosis diagnostics varies across laboratories and hospitals, globally. According to Unitaid, the use of GeneXpert MTB/RIF is primarily hampered owing to its high cost, particularly in the emerging markets. Further, China and India were among the countries that reflect higher costs of tests and increased expansion of the private sector. This is further linked with the unavailability of proper laboratory capacities. In some cases, the diagnostic tools have sub-optimal sensitivity and specificity, which are accompanied by the high costs of reference standard test and mycobacterial culture. Thus, over the forecast period, cost is expected to be one of the major restraining factors for the growth of the market studied.
Asia-Pacific Poised to Dominate the Tuberculosis Diagnostics Market
Owing to the presence of a large, diversified patient population and high burden of tuberculosis, Asia-Pacific is expected to retain its market position, over the forecast period. Countries, such as India, China, Indonesia, and Afghanistan are among the top-priority countries for the control of communicable diseases, according to the WHO. China and India registered the highest number new cases of tuberculosis annually, followed by African and Latin American countries. The emerging economies are witnessing significant growth of the private sector, combined with the public sector, which provides considerable opportunities for the growth of the market studied.
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Tuberculosis Diagnostics market report provides the comprehensive analysis of the market, based on leading players of present, past of Tuberculosis Diagnostics Industry and resourceful data that will act as a supportive guide for leading players.
Major Key Players of Tuberculosis Diagnostics Market Report: Abbott, Becton Dickinson and Company, BiomÃ©rieux SA, Cepheid, F. Hoffmann-La Roche AG, Hain Lifescience GmbH, Hologic Corporation, Qiagen, Advacare Pharma, Thermo Fisher Scientific Inc. .
Key Issues Addressed in this Report:
- Competitive Landscape and Strategic Recommendations
- The market forecast and growth areas for Tuberculosis Diagnostics Market
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Changing Market Trends and Emerging Opportunities
- Historical shipment and revenue
- Analysis key applications
- Main Players market share
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In a word, the Tuberculosis Diagnostics Market report provides major statistics on the state of the Tuberculosis Diagnostics industry and is a valuable source of guidance and direction for companies and individuals interested in the market.