The global tuberculosis diagnostics market size was valued at USD 1.71 billion in 2021. The market is expected to grow from USD 2.07 billion in 2022 to USD 3.13 billion by 2029, exhibiting a CAGR of 6.1% during the forecast period. Rising demand for efficient and accurate diagnostics procedures and increasing private-public partnerships may foster market growth. Fortune Business Insights™ presents this information in its “Tuberculosis (TB) Diagnostics Market, 2022-2029.”
Declining Sales Impeded Market Progress
The market was negatively affected during the COVID-19 pandemic due to the declining adoption of diagnostics procedures. Further, the sudden spike in COVID-19 patients enhanced hospital loads, thereby creating a shortage of medicines. Moreover, restrictions on manufacturing led to a lack of equipment required to complete diagnostics procedures effectively. However, lockdown relaxations helped the market grow significantly. Several industries began functioning normally, thereby facilitating the industry’s growth.
Rapid Molecular Diagnostics Segment to Dominate Owing to Novel Product Launches
By type, the market is segmented into culture-based diagnostics, sputum smear microscopy, rapid molecular diagnostics, and others. The rapid molecular diagnostics segment is expected to grow significantly owing to novel product launches.
Diagnostic Laboratories to Dominate Attributable to the Presence of Diagnostic Laboratories
As per end-user, the market is bifurcated into hospitals and diagnostic laboratories. The diagnostic laboratories segment is expected to dominate due to the presence of diagnostic laboratories across the world.
Regionally, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
Presence of Key Players to Propel Market Growth in North America
North America is expected to dominate the tuberculosis (TB) diagnostics market share due to the presence of key players. The market in North America stood at USD 0.49 billion in 2021 and is likely to gain a huge portion of the global market share in the coming years. Furthermore, the rising prevalence of tuberculosis diseases and the increasing demand for effective procedures are expected to facilitate the demand for TB diagnostics.
In Europe, robust demand for molecular TB diagnostics is expected to enhance sales. Furthermore, increasing government initiatives and rising diagnostic laboratories are expected to fuel industry growth.
In Asia Pacific, the development of healthcare infrastructure is expected to foster the adoption of tuberculosis (TB) diagnostics. Furthermore, increasing demand for better treatment outcomes from individuals is expected to fuel market growth.
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List of Key Companies Profiled in the Report:
- Hoffmann-La Roche Ltd (Switzerland)
- bioMérieux SA (France
- QIAGEN (Netherlands)
- BD (U.S.)
- Cepheid (Danaher) (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Abbott Laboratories (U.S.)
- Hologic, Inc. (U.S.)
- Hain Lifescience GmbH (Germany)
- Oxford Immunotec USA, Inc. (U.K.)
Detail Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments
- Incidence of Tuberculosis, By Key Countries
- Impact of COVID-19 on the Market
- Global Tuberculosis (TB) Diagnostics Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Culture-based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics
- Market Analysis, Insights and Forecast – By End-user
- Diagnostic Laboratories
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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