The burden of sepsis is increasing globally at an alarming rate. It has necessitated the development and adoption of more effective diagnostics. According to the report offered by Market Research Future (MRFR), the global sepsis diagnostics market is projected to touch USD 710 Mn mark by 2022 in terms of revenue, reflecting a CAGR of 8% over the assessment period.
The primary factor contributing towards the rising prevalence of sepsis is the increasing incidences of healthcare associated infection. These infections, also known as “nosocomial” and “hospital” infections, affect 7 patients in developed nations and 10 patients in developing nations out of every 100 patients. It leads to massive expenditure in healthcare services every year which is poised to boost the expansion of sepsis diagnostics market over the next couple of years.
The side effects caused by drugs is another major factor responsible for increasing patient population. For instance, the U.S. Food and Drug Administration (FDA) has recently approved Keytruda (pembrolizumab) for patients with head and neck squamous cell carcinoma (HNSCC). One of the side effects exhibited by the drug is sepsis. Similarly, VENCLEXTA® (venetoclax) for leukemia patients is poised to boost the number of patients in the upcoming years. The fact that these drugs are required to be taken for treatment of chronic diseases further emphasizes on the development of sepsis diagnosis. It is expected to catapult the sepsis diagnostics market on upward trajectory.
Sepsis, in an advanced stage, is proven to be lethal. Every year, thousands of patients succumb to the diseases. This, in turn, is likely to accelerate revenue growth of the sepsis diagnosis market in order to control the high mortality rate of the disease. Increasing awareness among the masses is poised to positively influence the growth trajectory of the market in the foreseeable future.
The advancements in medical science is projected to favor market growth in the years to come. Investments are likely to flow towards the sepsis diagnostics market across the forecast period. Rapid developments in the healthcare sector coupled with the development of infrastructure in developed and developing nations is forecasted to work in favor of the players of the sepsis diagnostics market over the next few years.
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The key players of Sepsis Diagnostics Market profiled in this MRFR report are
- EKF Diagnostics (UK),
- BioMérieux, Inc. (US),
- Immunexpress (US),
- Dickinson and Company (US),
- T2 Biosystems, Inc. (US),
- Axis-Shield Diagnostics Ltd. (Scotland),
- Sandstone Diagnostics, Inc. (US)
- Cube Dx GmbH (Austria)
The global sepsis diagnostics market, by region, has been segmented into four major regions – Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America holds the largest share of the market and is expected to retain its share in the years to come. The influx of patients from other countries is likely to boost the pace of growth of the sepsis diagnostics market across the assessment period. the valuation of the regional market is anticipated to reach USD 320 Mn by 2022.
Europe is likely to maintain its second spot registering a CAGR of 6.8% during the projection period. On the other hand, Asia Pacific signifies tremendous opportunities and is poised to emerge as the fastest growing regional segment in the foreseeable future.
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By technology, the global sepsis diagnostics market has been segmented into molecular diagnostics, biomarkers, and immunoassays and others.
Based on the type of product, the sepsis diagnostics market has been segmented into instruments, kits, blood culture media, and others.
On the basis of end users, the global sepsis diagnostics market has been segmented into pathology laboratories, hospitals, specialty clinics, diagnostic centers, and others.