Meningitis Diagnostic Testing Market
Meningitis Diagnostic Testing Market (Products - Latex Agglutination Tests, Lateral Flow Assay, PCR Assay, ELISA Tests, Culture Test; Industry - Hospitals, Diagnostic Centers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Press Release :
Meningitis Diagnostic Testing Market: Snapshot
The global meningitis diagnostic testing market in rising with increasing prevalence of cryptococcal and viral meningitis. The global meningitis diagnostic testing market was valued over US$ 105.0 Mn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of over 3.0% from 2017 to 2025 to surpass the value of US$ 150.0 Mn by 2025. The global market is witnessing relatively higher growth owing adoption, easy availability of lateral flow assay across all the regions over globe.
Inflammation to the meninges is known as meningitis. Most common cause of meningitis is bacteria or virus. Other causes include certain illness, medications or suffering from some other disease such as tuberculosis, or HIV (Human Immunodeficiency Virus). According to the World Health Organization (WHO), HIV is another major infectious disease. As of October 2017, around 36.7 million people across the world were living with HIV. High prevalence of infectious diseases is likely to drive the demand for diagnostic tests and thereby, the in vitro diagnostics sector in the next few years. Meningitis diagnostic test are the test that are carried out on human samples, (e.g., CSF) in order to: diagnose meningitis, regulate drug therapies and to prevent meningitis.
The testing for meningitis can be done using various latest technologies involving rapid testing devices as well as analyzers which are laboratory instruments. Increasing demand for demand for advanced diagnostic technology for accurate diagnosis and increasing prevalence of meningitis are driving the growth of the meningitis diagnostic testing market globally, however complex regulatory framework restrain the growth of the meningitis diagnostic testing market. According to the World Health Organization, regular outbreaks of meningitis in countries in Africa have impacted the in vitro diagnostic industry and are likely to fuel the meningitis diagnostic testing market in these countries. Rising demand for point-of-care services is anticipated to drive the meningitis diagnostic testing market during the forecast period. Point-of-care services provide more accurate results in less time as compared to traditional methods.
The global meningitis diagnostic testing market is divided into three segments: by product, by end user and by geography. Based on the product, the market has been further segmented into six major sub segments latex agglutination tests, lateral flow assay, PCR assay, ELISA tests, culture test, and others. Between these segments, PCR assay segment accounted for highest market share (in terms of revenue), in 2016. PCR assays provide accurate test results in a shorter span of time compared to other tests, with the sensitivity rate of 97%. This is projected to drive the PCR assay segment during the forecast period. Lateral flow assay segment is expected to grow at higher pace during forecast period this is due to low cost, rapid and reliable results in near-patient settings, and lack of requirement for any lab infrastructure or cold chain transport.
Based on the end user, the global meningitis diagnostic testing market has been segmented into hospital, diagnostic centers and others. The hospital segment accounted for a major share of the global meningitis diagnostic testing market end user segment in 2016, followed by diagnostic centers with substantial market share. Increase in number of multinational hospitals with advanced laboratory infrastructure have boosted the growth of the hospital segment during forecast period.
Geographically, the meningitis diagnostic testing market has been categorized into five regions: North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America accounted for the largest share of the global meningitis diagnostic testing market in 2016, followed by Asia Pacific with substantial market share. Availability of rapid diagnostic testing devices and increased patient awareness have boosted the growth of the market in North America. Asia Pacific is the most attractive market and expected to increase at the highest CAGR in the forecast period due to presence of vast population base especially in China and India undergoing meningitis diagnostic testing, rising patient awareness and developing laboratory infrastructure.
The global meningitis diagnostic testing market is consolidated with few companies accounted for majority market share. Major players operating in the global meningitis diagnostic testing market are Thermo Fisher Scientific, Inc., Fast Track Diagnostics Ltd. (FTD) – Siemens Healthineers, Bio-Rad Laboratories, Inc., IMMY, BioFire Diagnostics, Nanosphere (Luminex Corporation), Seegene Inc., Qnostics, ELITechGroup, and Abbott Laboratories exhibit the largest geographical outreach with presence in multiple meningitis diagnostic testing products. Demand for technologically advanced tests along with continuous innovation would intensify competition among the top players. Manufacturers are adopting strategy of acquisitions and collaborations to sustain in the market these factors would lead to high competitive rivalry.
Global Meningitis Diagnostic Testing Market to Expand with Advancements in Neural Treatments and Analysis
Advancements in the domain of diagnosis have played a critical role in driving demand within the global meningitis diagnostic market. The severe inflammation caused in the brain as a consequence of meningitis has given a strong cue to the medical industry towards finding effective treatment lines. Recent advancements in neural healthcare have caused an uptick in the revenues generated across the global meningitis diagnostic market. Furthermore, the treatment of chronic diseases is possible only when the disease is timely diagnosed. Therefore, the global meningitis diagnostic market is slated to grow at a stellar pace in the times to follow. The unprecedented demand for meningitis diagnostic can also be attributed to the rising incidence of the diseases amongst the older population groups.
- Mayo Clinic release regular literature in regard to the treatment and diagnosis of meningitis. The information dispelled by this entity has come in handy in spreading awareness around various disorders related to the brain. The direct connection of the brain with the spinal cord has also led the medical industry to take the occurrence of meningitis diagnostic as a serious medical issue. This has led to increased investments in leading-edge technologies for treatment and diagnosis of meningitis diagnostic, Moreover, the effectiveness of diagnostic tests deployed for meningitis have also been successful in most cases.
- The COVID-19 pandemic also led to advancements in diagnosis and treatment of meningitis. This is because the entire healthcare industry was under tremendous pressure to improve functional dynamics post the outbreak of the coronavirus. Investments made towards improving healthcare services also trickled down to the global meningitis diagnosis market. Moreover, the use of this diagnostic test to understand the anatomy of the brain gives logical cues to doctors and medical professionals. Therefore, the global meningitis diagnostic market is slated to expand at a stellar pace in the times to follow.
Meningitis Diagnostic Testing Market: Overview
This report on meningitis diagnostic testing market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture, commercialization, providing diagnostic test for meningitis as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments considered in the scope of the study. This section also provides the overall information and data analysis of the global meningitis diagnostic testing market with respect to the leading market segments based on product type, end-user and geographies.
Meningitis Diagnostic Testing Market: Segmentations
The global meningitis diagnostic testing market is divided into three segments: by product, by end user and by geography. Based on the product, the market has been further segmented into six major sub segments latex agglutination tests, lateral flow assay, PCR assay, ELISA tests, culture test, and others. The market has been further studied from the point of view of end user. Based on end user, the market has been segmented into hospitals, diagnostics centers and others
Each of the market segments have been extensively analyzed based on the market related factors such as increase incidence of meningitis and available testing options. Moreover, historical year-on-year growth have been taken into consideration while estimating the market size. The market size and forecast in terms of US$ million for each segment has been provided for the period from 2015 to 2025. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the meningitis diagnostic testing market and could influence the market in the near future. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market across different geographies. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global meningitis diagnostic testing market.
Geographically, meningitis diagnostic testing market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market size and forecast for each of these regions has been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year. The report also provides with market size and forecast for major countries in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, porter’s five forces analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global meningitis diagnostic testing market.
Meningitis Diagnostic Testing Market: Competitive Landscape
Major players operating in the global meningitis diagnostic testing market are Thermo Fisher Scientific, Inc., Fast Track Diagnostics Ltd. (FTD) – Siemens Healthineers, Bio-Rad Laboratories, Inc., IMMY, BioFire Diagnostics, Nanosphere (Luminex Corporation), Seegene Inc., Qnostics, ELITechGroup, and Abbott Laboratories exhibit the largest geographical outreach with presence in multiple meningitis diagnostic testing products
The global meningitis diagnostic testing market is segmented as follows: